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REAL ESTATE (Tables)

12 Months Ended

Dec. 31, 2019

Real Estate [Abstract]

Schedule of real estate owned

At December 31, 2019 and 2018, ARL’s real estate investment is comprised of the following (dollars in thousands):

		December 31,
		2019				2018
Apartments		$	156,173			$	126,274
Apartments under construction			22,363				21,916
Commercial properties			229,424				224,162
Land held for development			62,037				83,641
Real estate subject to sales contract			7,966				3,149
Total real estate, at cost, less impairment		$	477,963			$	459,142
Less accumulated deprecation			(90,173	)			(78,099	)
Total real estate, net of depreciation		$	387,790			$	381,043

Schedule of estimated useful lives of the assets

Depreciation is computed on a straight line basis over the estimated useful lives of the assets as follows:

Land improvements	25 to 40 years
Buildings and improvements	10 to 40 years
Tenant improvements	Shorter of useful life or terms of related lease
Furniture, fixtures and equipment	3 to 7 years

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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- References

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- Definition

Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments.

+ References

No definition available.

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