INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

3 Months Ended

Mar. 31, 2013

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

Investments accounted for via the equity method

Investments accounted for via the equity method consist of the following:

		Percentage ownership as of
		March 31, 2013			March 31, 2012
American Realty Investors, Inc.	(1)		1.99	%		2.03	%

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(1) Unconsolidated Investment in Parent Company

Summary of the financial position and results of operations from unconsolidated joint ventures and other investees

The following is a summary of the financial position and results of operations from our unconsolidated parent (dollars in thousands):

For the three months ended March 31,	2013			2012
Real estate, net of accumulated depreciation	$	44,951		$	45,917
Notes receivable		44,472			23,106
Other assets		132,397			153,627
Notes payable		(61,442	)		(63,821	)
Other liabilities		(85,195	)		(86,475	)
Shareholders equity/partners capital		(75,183	)		(72,354	)
Rents and interest and other income	$	4,709		$	965
Depreciation		(81	)		(63	)
Operating expenses		(1,230	)		(1,302	)
Gain (loss) on land sales		12			(1,444	)
Loss on sale of investment		-			(361	)
Interest expense		(1,511	)		(1,253	)
Income (loss) from continuing operations		1,899			(3,458	)
Loss from discontinued operations		-			(134	)
Net Income (loss)	$	1,899		$	(3,592	)
Companys proportionate share of earnings	$	38		$	(73	)