Real Estate, Net

9 Months Ended

Nov. 28, 2015

Real Estate [Abstract]

Real Estate, Net

Note 3 – Real Estate, Net

As of November 28, 2015 and February 28, 2015, real estate, net consists of the following (in thousands):

	November 28, 2015		February 28, 2015
	(unaudited)		(audited)
Real estate under development	$	34,951	$	26,906
Buildings and building improvements		3,688		3,580
Tenant improvements		400		-
Land		2,452		2,452
		41,491		32,938
Less: accumulated depreciation		1,924		1,817
	$	39,567	$	31,121

Real estate under development consists of the Trinity Place Property, the Paramus, New Jersey and the Westbury, New York properties. Buildings and building improvements, tenant improvements and land consist of the West Palm Beach, Florida property.