INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

12 Months Ended

Dec. 31, 2014

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

Investments accounted for via the equity method

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

		Percentage ownership as of December 31,
		2014	2013	2012
American Realty Investors, Inc. (1)		1.00%	1.99%	1.99%
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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 subsidiaries and investees (dollars in thousands):

	For the Twelve Months Ended December 31,
Unconsolidated Subsidiaries	2014			2013			2012
Real estate, net of accumulated depreciation	$	15,460		$	11,944		$	45,032
Notes Receivable		50,909			68,909			44,371
Other assets		128,635			128,945			130,419
Notes payable		(50,048	)		(56,103	)		(61,720	)
Other liabilities		(80,904	)		(91,099	)		(84,123	)
Shareholders' equity/partners' capital		(64,052	)		(62,596	)		(73,979	)
Rents and interest and other income	$	12,427		$	11,372		$	8,198
Depreciation		(285	)		(285	)		(263	)
Operating expenses		(6,983	)		(14,162	)		(4,013	)
Gain on land sales		-			618			(2,785	)
Interest expense		(7,144	)		(7,173	)		(4,283	)
Loss from continuing operations		(1,985	)		(9,630	)		(3,146	)
Income from discontinued operations		64			(15	)		2,691
Net loss	$	(1,921	)	$	(9,645	)	$	(455	)
Company's proportionate share of loss (1)	$	(19	)	$	(192	)	$	(9	)
(1) Loss represents continued and discontinued operations