INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

6 Months Ended

Jun. 30, 2013

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

Investments accounted for via the equity method

Investments in unconsolidated joint ventures and investees consist of the following:

	Percentage ownership as of
	June 30, 2013			June 30, 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):

As of June 30,	2013			2012
Real estate, net of accumulated depreciation	$	44,886		$	45,829
Notes receivable		44,544			23,486
Other assets		132,221			150,771
Notes payable		(61,410	)		(60,055	)
Other liabilities		(87,474	)		(84,593	)
Shareholders' equity/partners' capital		(72,767	)		(75,438	)
For the Six Months Ended June 30,		2013			2012
Revenue	$	6,948		$	3,706
Depreciation		(152	)		(126	)
Operating expenses		(3,776	)		(2,423	)
Gain (loss) on land sales		12			(1,444	)
Loss on sale of investment		-			(361	)
Interest expense		(2,922	)		(2,472	)
Income (loss) from continuing operations		110			(3,120	)
Income (loss) from discontinued operations		(15	)		2,731
Net Income (loss)	$	95		$	(389	)
Company's proportionate share of earnings	$	2		$	(8	)