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OPERATING SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2014
OPERATING SEGMENTS (Tables)  
OPERATING SEGMENTS - Operating segment information

Presented below is the operating segment information for the three and six months ended June 30, 2014 and 2013 (dollars in thousands):

 

For the Three Months Ended June 30, 2014   Land     Other     Total  
Rental and other property revenues   $ -     $ -     $ -  
Property operating expenses     11       -       11  
Mortgage and loan interest     178       -       178  
Interest income from related parties     -       1,236       1,236  
Segment operating income (loss)   $ (189 )   $ 1,236     $ 1,047  
                         
Real estate assets     24,511       -       24,511  
                         
                         
For the Three Months Ended June 30, 2013   Land     Other     Total  
Rental and other property revenues   $ -     $ -     $ -  
Property operating expenses     9       -       9  
Mortgage and loan interest     294       -       294  
Interest income from related parties     -       1,417       1,417  
Segment operating income (loss)   $ (303 )   $ 1,417     $ 1,114  
                         
Real estate assets     24,511       -       24,511  
OPERATING SEGMENTS - Reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations and Balance Sheets:

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

 

    For the Three Months Ended  
    June 30,  
    2014     2013  
Segment operating income   $ 1,047     $ 1,114  
Other non-segment items of income (expense)                
General and administrative     (118 )     (213 )
Net income fee due to related party     (56 )     (48 )
Advisory fee to related party     (178 )     (207 )
Income tax expense     -       -  
Net income from continuing operations   $ 695     $ 646  

 

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

 

    June 30,  
    2014     2013  
Real estate assets   $ 24,511     $ 24,511  
Notes and interest receivable     25,605       27,560  
Other assets     42,684       58,865  
Total assets   $ 92,800     $ 110,936  

 

For the Six Months Ended June 30, 2014   Land     Other     Total  
Rental and other property revenues   $ -     $ -     $ -  
Property operating expenses     28       -       28  
Mortgage and loan interest     363       -       363  
Interest income from related parties     -       2,369       2,369  
Segment operating income (loss)   $ (391 )   $ 2,369     $ 1,978  
                         
Real estate assets     24,511       -       24,511  
                         
                         
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 from related parties     -       2,824       2,824  
Segment operating income (loss)   $ (604 )   $ 2,824     $ 2,220  
                         
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,  
    2014     2013  
Segment operating income   $ 1,978     $ 2,220  
Other non-segment items of income (expense)                
General and administrative     (280 )     (345 )
Net income fee due to related party     (101 )     (104 )
Advisory fee to related party     (343 )     (412 )
Income tax expense     -       (6 )
Net income from continuing operations   $ 1,254     $ 1,353  

 

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

 

    June 30,  
    2014     2013  
Real estate assets   $ 24,511     $ 24,511  
Notes and interest receivable     25,605       27,560  
Other assets     42,684       58,865  
Total assets   $ 92,800     $ 110,936