Segment Disclosures

9 Months Ended

Sep. 30, 2019

19. SEGMENT DISCLOSURES

Subsequent to July 23, 2019 we operate our business through our two segments: Asset Management, and Real Estate Services.

In our Asset Management segment, we focus on providing management services to a wide range of real estate assets and businesses that include a variety of commercial real estate uses, including apartments, hotels, office buildings, commercial garages, leased lands, retail stores, mixed-use developments, and urban transit-oriented developments. The properties and businesses we currently manage are located primarily along the Washington, D.C. Metro Silver Line in Fairfax and Loudoun Counties, but we also manage projects in other jurisdictions within the states of Maryland and Virginia.

In our Real Estate Services segment, our experienced real estate services-based management team provides a wide range of real estate services in the areas of strategic corporate planning, capital markets, brokerage services, and environmental and design based services. Our environmental services group provides consulting, environmental studies, remediation services and provide site specific solutions for any project that may have an environmental impact, from environmental due diligence to site-specific assessments and remediation. The Real Estate Services segment operates in the Mid-Atlantic Region.

The following table includes the Company’s two reportable segments of Asset Management and Real Estate Services for the three and nine months ended September 30, 2019 and September 30, 2018. Certain revenues and expenses, reported within the homebuilding segment historically were reclassified to reflect the two operating segments as of September 30, 2019.

	Asset			Real Estate
	Management			Services			Total
Three Months Ended September 30, 2019
Gross revenue	$	4,293		$	947		$	5,240
Gross profit (loss)		583			85			668
Net income (loss)		(369	)		(208	)		(577	)
Total assets		12,131			3,784			15,915
Three Months Ended September 30, 2018
Gross revenue	$	2,730		$	711		$	3,441
Gross profit (loss)		272			(210	)		62
Net income (loss)		730			(456	)		274
Total assets		3,363			3,965			7,328
Nine Months Ended September 30, 2019
Gross revenue	$	12,178		$	2,573		$	14,751
Gross profit		1,637			308			1,945
Net income (loss)		316			(547	)		(231	)
Total assets		12,131			3,784			15,915
Nine Months Ended September 30, 2018
Gross revenue	$	8,481		$	1,652		$	10,133
Gross profit		876			(123	)		753
Net income (loss)		1,543			(782	)		761
Total assets		3,363			3,965			7,328

The Company allocates sales, marketing and general and administrative expenses to the individual segments based upon specifically allocable costs. Gross profit is defined as revenue less cost of sales.