INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

9 Months Ended

Sep. 30, 2014

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
	September 30, 2014			September 30, 2013
American Realty Investors, Inc.(1)		1.00	%		1.99	%
(1) Unconsolidated investment in parent company owning 140,000 shares of ARL Common Stock

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 September 30,	2014			2013
Real estate, net of accumulated depreciation	$	15,087		$	44,306
Notes receivable		67,419			44,328
Other assets		128,587			135,883
Notes payable		(52,036	)		(60,237	)
Other liabilities		(92,664	)		(93,483	)
Shareholders' equity		(66,393	)		(70,797	)
For the Nine Months Ended September 30,		2014			2013
Rents and interest and other income	$	9,785		$	9,450
Depreciation		(204	)		(220	)
Operating expenses		(4,340	)		(6,420	)
Gain on land sales		-			611
Interest expense		(5,287	)		(4,773	)
Loss from continuing operations		(46	)		(1,352	)
Loss from discontinued operations		-			(15	)
Net loss	$	(46	)	$	(1,367	)
Company's proportionate share of loss (1)	$	(0.46	)	$	(27	)
(1) Loss represents continued and discontinued operations