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OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2013

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS - segments by use of property; land and other for 2013

For the Six Months Ended June 30, 2013		Land				Other				Total
Rental and other property revenues		$	-			$	-			$	-
Property operating expenses			23				-				23
Mortgage and loan interest			581				-				581
Interest income			-				2,824				2,824
Segment operating income (loss)		$	(604	)		$	2,824			$	2,220
Capital expenditures			-				-				-
Real estate assets			24,511				-				24,511

OPERATING SEGMENTS segments by use of property; land and other for 2012

For the Six Months Ended June 30, 2012		Land				Other				Total
Rental and other property revenues		$	-			$	-			$	-
Property operating expenses			45				-				45
Mortgage and loan interest			552				-				552
Interest income			-				2,896				2,896
Segment operating income (loss)		$	(597	)		$	2,896			$	2,299
Capital expenditures			-				-				-
Real estate assets			24,511				-				24,511

The table below reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations:

		For the Six Months Ended
		June 30,
		2013				2012
Segment operating income		$	2,220			$	2,299
Other non-segment items of income (expense)
General and administrative			(449	)			(360	)
Advisory fee			(412	)			(402	)
Equity from unconsolidated subsidiaries and investees			-				(23	)
Income tax expense			(6	)			(3	)
Income from continuing operations		$	1,353			$	1,511

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

		June 30,
		2013				2012
Segment assets		$	24,511			$	24,511
Notes and interest receivable			25,734				25,247
Other assets and related party receivables			60,691				59,738
Total assets		$	110,936			$	109,496