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CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Rental and other property revenues       $ 0
Expenses:        
Property operating expenses (including $13 and $13 for the three months and $37 and $36 for the nine months ended 2014 and 2013, respectively, from related parties) 13 49 42 72
General and administrative (including $61 and $60 for the three months and $181 and $178 for the nine months ended 2014 and 2013, respectively, from related parties) 143 192 422 536
Net income fee to related party 51 55 152 159
Advisory fee to related party 173 209 516 621
Total operating expenses 380 505 1,132 1,388
Net operating loss (380) (505) (1,132) (1,388)
Other income (expenses):        
Interest income from related parties 1,179 1,427 3,547 4,251
Mortgage and loan interest (176) (297) (538) (879)
Total other income 1,003 1,130 3,009 3,372
Net income from continuing operations before tax 623 625 1,877 1,984
Income tax expense       (6)
Net income from continuing operations 623 625 1,877 1,978
Discontinued operations:        
Net loss from discontinued operations.,       (18)
Gain (loss) on the sale of real estate from discontinued operations       0
Income tax benefit from discontinued operations       6
Net loss from discontinued operations       (12)
Net income $ 623 $ 625 $ 1,877 $ 1,966
Earnings per share - basic        
Net income from continuing operations - basic $ 0.15 $ 0.15 $ 0.45 $ 0.47
Net income from discontinued operations.- basic       $ 0
Net income applicable to common shares - basic $ 0.15 $ 0.15 $ 0.45 $ 0.47
Earnings per share - diluted        
Net income from continuing operations - diluted $ 0.15 $ 0.15 $ 0.45 $ 0.47
Net income from discontinued operations - diluted       $ 0
Net income applicable to common shares - diluted $ 0.15 $ 0.15 $ 0.45 $ 0.47
Weighted average common shares used in computing earnings per share 4,168,214 4,168,214 4,168,214 4,168,214
Weighted average common shares used in computing diluted earnings per share 4,168,214 4,168,214 4,168,214 4,168,214