NOTES AND INTEREST PAYABLE (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of notes and interest payable

Below is a summary of our notes and interest payable as of December 31, 2015 (dollars in thousands):

	Notes Payable			Accrued Interest		Total Debt
Apartments	$	507,498		$	1,499	$	508,997
Apartments under construction	$	11,139		$	—		11,139
Commercial		109,269			509		109,778
Land		32,818			116		32,934
Real estate subject to sales contract		5,953			469		6,422
Mezzanine financing		122,900			—		122,900
Other		7,269			—		7,269
Total	$	796,846		$	2,593	$	799,439
Unamortized deferred borrowing costs		(20,005	)		—		(20,005	)
	$	776,841		$	2,593	$	779,434

Schedule of principal payments on the notes payable

The following table schedules the principal payments on the notes payable for the next five years and thereafter (dollars in thousands):

Year	Amount
2016	$	79,526
2017		23,581
2018		43,890
2019		34,623
2020		127,370
Thereafter		487,856
Total	$	796,846