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OPERATING SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2014

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS - Operating segment information for the three & nine months ended September 30, 2014 and 2013

For the Three Months Ended September 30, 2014		Land				Other				Total
Rental and other property revenues		$	-			$	-			$	-
Property operating expenses			13				-				13
Mortgage and loan interest			176				-				176
Interest income from related parties			-				1,179				1,179
Segment operating income (loss)		$	(189	)		$	1,179			$	990

Real estate assets			24,515				-				24,515


For the Three Months Ended September 30, 2013		Land				Other				Total
Rental and other property revenues		$	-			$	-			$	-
Property operating expenses			49				-				49
Mortgage and loan interest			297				-				297
Interest income from related parties			-				1,427				1,427
Segment operating income (loss)		$	(346	)		$	1,427			$	1,081

Real estate assets			24,511				-				24,511

For the Nine Months Ended September 30, 2014		Land				Other				Total
Rental and other property revenues		$	-			$	-			$	-
Property operating expenses			42				-				42
Mortgage and loan interest			538				-				538
Interest income from related parties			-				3,547				3,547
Segment operating income (loss)		$	(580	)		$	3,547			$	2,967

Real estate assets			24,515				-				24,515


For the Nine Months Ended September 30, 2013		Land				Other				Total
Rental and other property revenues		$	-			$	-			$	-
Property operating expenses			72				-				72
Mortgage and loan interest			879				-				879
Interest income from related parties			-				4,251				4,251
Segment operating income (loss)		$	(951	)		$	4,251			$	3,300

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
		September 30,
		2014				2013
Segment operating income		$	990			$	1,081
Other non-segment items of income (expense)
General and administrative			(143	)			(192	)
Net income fee to related party			(51	)			(55	)
Advisory fee to related party			(173	)			(209	)
Income tax expense			-				-
Net income from continuing operations		$	623			$	625

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

		September 30,
		2014				2013
Real estate assets		$	24,515			$	24,511
Notes and interest receivable			24,865				26,562
Other assets			44,016				60,201
Total assets		$	93,396			$	111,274

OPERATING SEGMENTS - Operating segment information to the corresponding amounts in the Consolidated Balance Sheets

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

		For the Nine Months Ended
		September 30,
		2014				2013
Segment operating income		$	2,967			$	3,300
Other non-segment items of income (expense)
General and administrative			(422	)			(536	)
Net income fee to related party			(152	)			(159	)
Advisory fee to related party			(516	)			(621	)
Income tax expense			-				(6	)
Net income from continuing operations		$	1,877			$	1,978

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

		September 30,
		2014				2013
Real estate assets		$	24,515			$	24,511
Notes and interest receivable			24,865				26,562
Other assets			44,016				60,201
Total assets		$	93,396			$	111,274