REAL ESTATE AND OTHER AFFILIATES (Tables)

3 Months Ended

Mar. 31, 2014

REAL ESTATE AND OTHER AFFILIATES

Schedule of information related to investments in real estate and other affiliates

	Economic/ Legal Ownership				Carrying Value				Share of Earnings/Dividends
	March 31,		December 31,		March 31,		December 31,		Three Months Ended March 31,
	2014		2013		2014		2013		2014			2013
	(In percentages)				(In thousands)				(In thousands)
Equity Method Investments:
Circle T Ranch and Power Center	50.00	%	50.00	%	$	9,004	$	9,004	$	—		$	—
HHMK Development, LLC (a)	50.00	%	50.00	%	13		13		290			—
KR Holdings, LLC (a)	50.00	%	50.00	%	25,478		19,764		4,009			—
Millennium Woodlands Phase II, LLC (a)	81.43	%	81.43	%	2,171		2,174		(36		)	—
Parcel C (a)	50.00	%	50.00	%	6,531		5,801		—			—
Stewart Title	50.00	%	50.00	%	3,736		3,843		93			191
Summerlin Apartments, LLC (a)	50.00	%	—		—		—		—			—
Summerlin Las Vegas Baseball Club, LLC (a)	50.00	%	50.00	%	10,510		10,636		(126		)	—
The Metropolitan Downtown Columbia Project (b)	50.00	%	50.00	%	3,505		3,461		—			—
Woodlands Sarofim #1	20.00	%	20.00	%	2,582		2,579		57			39
					63,530		57,275		4,287			230
Cost basis investments					3,793		3,746		1,781		(c)	2,503		(c)
Investment in Real Estate and Other Affiliates					$	67,323	$	61,021	$	6,068		$	2,733

(a)	Equity method variable interest entities.
(b)	This entity was previously considered a VIE, whose reassessment in 2013 caused it to no longer be considered a VIE. Please refer to the discussion in the section following the table.
(c)	Includes distribution received from Summerlin Hospital Medical Center.