REAL ESTATE (Tables)

3 Months Ended

Mar. 31, 2013

REAL ESTATE (Tables)

Real estate owned

Below is a summary of the real estate owned as of March 31, 2013 (dollars in thousands):

	2013
Apartments	$	587,867
Commercial properties		207,223
Land held for development		153,414
Real estate held for sale		31,401
Real estate subject to sales contract		59,562
Total real estate		1,039,467
Less accumulated depreciation		(167,197	)
Total real estate, net of depreciation	$	872,270