REAL ESTATE AND OTHER AFFILIATES (Tables)

3 Months Ended

Mar. 31, 2019

Investments in real estate and other affiliates that are reported in accordance with the equity and cost methods are as follows:



	Economic/Legal Ownership				Carrying Value				Share of Earnings/Dividends
	March 31,		December 31,		March 31,		December 31,		Three Months Ended March 31,
($ in thousands)	2019		2018		2019		2018		2019			2018
Equity Method Investments
Operating Assets:
The Metropolitan Downtown Columbia (a)	50	%	50	%	$	—	$	—	$	183		$	80
Stewart Title of Montgomery County, TX	50	%	50	%	3,822		3,920		102			82
Woodlands Sarofim #1	20	%	20	%	2,780		2,760		20			20
m.flats/TEN.M	50	%	50	%	3,486		4,701		(1,221		)	(937		)
Master Planned Communities:
The Summit (b)	—	%	—	%	78,573		72,171		7,837			11,128
Seaport District:
Mr. C Seaport	35	%	35	%	8,088		8,721		(632		)	—
Strategic Developments:
Circle T Ranch and Power Center	50	%	50	%	6,024		5,989		35			—
HHMK Development	50	%	50	%	10		10		—			—
KR Holdings	50	%	50	%	161		159		2			672
					102,944		98,431		6,326			11,045
Cost method investments					3,856		3,856		3,625			3,341
Investment in real estate and other affiliates					$	106,800	$	102,287	$	9,951		$	14,386


(a)	The Metropolitan Downtown Columbia was in a deficit position of $4.0 million and $3.8 million at March 31, 2019 and December 31, 2018, respectively, due to distributions from operating cash flows in excess of basis. These deficit balances are presented in Accounts payable and accrued expenses at March 31, 2019 and December 31, 2018.


(b)	Please refer to the discussion below for a description of the joint venture ownership structure.

Relevant financial statement information for The Summit is summarized as follows:


(a)	Revenues related to land sales at the joint venture are recognized on a percentage of completion basis as The Summit follows the private company timeline for implementation of ASU 2014-09, Revenues from Contracts with Customers (Topic 606) and will adopt by the end of 2019.