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OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of operating segment, including segment assets and expenditures

Presented below is our reportable segments’ operating income for the three months ended June 30, 2020 and 2019, including segment assets and expenditures (dollars in thousands):

		Commercial
For the Three Months Ended June 30, 2020		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	7,863			$	4,084			$	—			$	—			$	11,947
Property operating expenses			(4,071	)			(1,930	)			(95	)			286				(5,810	)
Depreciation			(2,480	)			(938	)			—				—				(3,418	)
Mortgage and loan interest			(1,346	)			(1,177	)			(293	)			(6,255	)			(9,071	)
Interest income			—				—				—				5,284				5,284
Gain on land sales			—				—				5,339				—				5,339
Segment operating (loss) income		$	(34	)		$	39			$	4,951			$	(685	)		$	4,271
Capital expenditures		$	232			$	7,400			$	664			$	—				8,296
Real estate assets		$	146,576			$	180,835			$	67,533			$	—				394,944
Property Sales
Sales price		$	—			$	2,426			$	6,477			$	—			$	8,903
Cost of sale			—				(2,426	)			(1,138	)			—				(3,564	)
Gain on sale		$	—			$	—			$	5,339			$	—			$	5,339

		Commercial
For the Three Months Ended June 30, 2019		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	8,020			$	3,818			$	—			$	2			$	11,840
Property operating expenses			(4,410	)			(2,018	)			(88	)			(807	)			(7,323	)
Depreciation			(2,732	)			(707	)			—				—				(3,439	)
Mortgage and loan interest			(1,947	)			(1,003	)			(41	)			(6,417	)			(9,408	)
Interest income			—				—				—				6,505				6,505
Loss on sale of income producing property			—				(80	)			—				—				(80	)
Gain on land sales			—				—				2,517				—				2,517
Segment operating (loss) income		$	(1,069	)		$	10			$	2,388			$	(717	)		$	612
Capital expenditures			346				9,596				353				—				10,295
Real estate assets			—				—				—				—				—
Property Sales
Sales price		$	—			$	3,695			$	5,802			$	—			$	9,497
Cost of sale			—				(3,775	)			(3,285	)			—				(7,060	)
Gain on sale		$	—			$	(80	)		$	2,517			$	—			$	2,437

Presented below is our reportable segments’ operating income for the six months ended June 30, 2020 and 2019, including segment assets and expenditures (dollars in thousands):

		Commercial
For the Six Months Ended June 30, 2020		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	15,747			$	8,116			$	—			$	2			$	23,865
Property operating expenses			(8,181	)			(3,860	)			(193	)			114				(12,120	)
Depreciation			(5,002	)			(1,810	)			—				—				(6,812	)
Mortgage and loan interest			(2,717	)			(2,349	)			(574	)			(13,033	)			(18,673	)
Interest income			—				—				—				11,038				11,038
Gain on land sales			—				—				9,477				—				9,477
Segment operating (loss) income		$	(153	)		$	97			$	8,710			$	(1,879	)		$	6,775
Capital expenditures		$	941			$	14,433			$	2,664			$	—			$	18,038
Assets		$	146,576			$	180,835			$	67,533			$	—			$	394,944
Property Sales
Sales price		$	—			$	2,426			$	12,189			$	—			$	14,615
Cost of sale			—				(2,426	)			(2,712	)			—				(5,138	)
Gain on land sales		$	—			$	—			$	9,477			$	—			$	9,477

		Commercial
For the Six Months Ended June 30, 2019		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	16,247			$	7,518			$	—			$	4			$	23,769
Property operating expenses			(8,346	)			(4,076	)			(45	)			(853	)			(13,320	)
Depreciation			(5,107	)			(1,441	)			—				—				(6,548	)
Mortgage and loan interest			(3,914	)			(1,937	)			(370	)			(13,155	)			(19,376	)
Interest income			—				—				—				12,658				12,658
Loss on sale of income producing property			—				(80	)			—				—				(80	)
Gain on land sales			—				—				4,733				—				4,733
Segment operating (loss) income		$	(1,120	)		$	(16	)		$	4,318			$	(1,346	)		$	1,836
Capital expenditures		$	4,045			$	17,434			$	2,832			$	—			$	24,311
Assets		$	152,863			$	151,688			$	78,871			$	—			$	383,422
Property Sales
Sales price		$	—			$	3,695			$	14,517			$	—			$	18,212
Cost of sale			—				(3,775	)			(9,784	)			—				(13,559	)
Gain on sale		$	—			$	(80	)		$	4,733			$	—			$	4,653

Schedule of reconciliaton of segment information to consolidated statements of operations

The table below reflects the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the three months ended June 30, 2020 and 2019 (dollars in thousands):

		For the Three Months Ended
		June 30,
		2020				2019
Segment operating income		$	4,271			$	612
Other non-segment items of income (expense)
General and administrative			(1,669	)			(2,419	)
Franchise taxes and other expenses			—				(585	)
Net income fee to related party			(112	)			(90	)
Advisory fee to related party			(2,241	)			(2,361	)
Other income			2,794				3,364
Foreign Currency Transaction gain (loss)			(5,599	)			(2,325	)
Loss from joint venture			(735	)			(236	)
Earnings from unconsolidated investees			16				173
State income tax expense			(49	)			—
Net income (loss) from continuing operations		$	(3,324	)		$	(3,867	)

The table below reflects the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the six months ended June 30, 2020 and 2019 (dollars in thousands):

		For the Six Months Ended June 30,
		2020				2019
Segment operating income		$	6,775			$	1,836
Other non-segment items of income (expense)
General and administrative			(4,464	)			(5,024	)
Franchise taxes and other expenses			(1,496	)			(585	)
Net income fee to related party			(198	)			(190	)
Advisory fee to related party			(4,528	)			(4,214	)
Other income			4,006				7,031
Foreign currency translation gain (loss)			2,244				(8,143	)
Loss from joint venture			(1,111	)			(1,291	)
Losses from other unconsolidated investees			132				231
State income tax expense			(296	)			—
Net income (loss) from continuing operations		$	1,064			$	(10,349	)

Schedule of reconciliaton segment information to consolidated balance sheets

The table below reflects a reconciliation of the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):

		As of June 30,
		2020				2019
Segment assets		$	394,944			$	383,422
Investments in unconsolidated investees			61,412				74,911
Notes and interest receivable			167,589				159,582
Other assets			204,344				199,638
Total assets		$	828,289			$	817,553

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- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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