OPERATING SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Schedule of operating segment, including segment assets and expenditures

Presented below is the Company’s reportable segments’ operating income including segment assets and expenditures for the years 2015, 2014 and 2013 (dollars in thousands): 

For the Twelve Months Ended December 31, 2015	Commercial Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	29,308		$	72,809		$	—		$	103		$	102,220
Property operating expenses		(16,838	)		(34,437	)		(712	)		(270	)		(52,257	)
Depreciation		(8,861	)		(12,438	)		—			—			(21,299	)
Mortgage and loan interest		(6,891	)		(18,584	)		(4,214	)		(11,897	)		(41,586	)
Loan charges and prepayment penalties		—			(4,922	)		—			(33	)		(4,955	)
Interest income		—			—			—			10,687			10,687
Gain on land sales		—			—			18,911						18,911
Segment operating income (loss)	$	(3,282	)	$	2,428		$	13,985		$	(1,410	)	$	11,721
Capital expenditures		8,118			1,780			2,621			—			12,519
Assets		153,270			553,860			136,889			—			844,019
Property Sales
Sales price	$	—		$	11,129		$	102,898		$	—		$	114,027
Less: Cost of sale		—			(10,394	)		(83,987	)		—			(94,381	)
Gain on sale	$	—		$	735		$	18,911		$	—		$	19,646

For the Twelve Months Ended December 31, 2014	Commercial Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	19,129		$	56,685		$	1		$	43		$	75,858
Property operating expenses		(12,238	)		(26,065	)		(1,169	)		(12	)		(39,484	)
Depreciation		(7,310	)		(10,088	)		—			—			(17,398	)
Mortgage and loan interest		(5,699	)		(16,321	)		(4,318	)		(4,539	)		(30,877	)
Loan charges and prepayment penalties		(113	)		(2,625	)		(16	)		(50	)		(2,804	)
Interest income		—			—			—			12,194			12,194
Gain on land sales		—			—			561			—			561
Segment operating income (loss)	$	(6,231	)	$	1,586		$	(4,941	)	$	7,636		$	(1,950	)
Capital expenditures		4,418			320			2,435			—			7,173
Assets		140,131			391,767			157,223			—			689,121
Property Sales
Sales price	$	19,182		$	115,273		$	8,091		$	—		$	142,546
Less: Cost of sale		(9,168	)		(63,408	)		(7,530	)		—			(80,106	)
Gain on sale	$	10,014		$	51,865		$	561		$	—		$	62,440

For the Twelve Months Ended December 31, 2013	Commercial Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	22,928		$	54,272		$	39		$	112		$	77,351
Property operating expenses		(10,857	)		(24,798	)		(976	)		(38	)		(36,669	)
Depreciation		(5,846	)		(9,996	)		—			—			(15,842	)
Mortgage and loan interest		(5,568	)		(18,013	)		(5,880	)		(2,815	)		(32,276	)
Loan charges and prepayment penalties		(150	)		(3,937	)		(1,080	)		(52	)		(5,219	)
Interest income		—			—			—			13,790			13,790
Loss on land sales		—			—			(1,073	)		—			(1,073	)
Segment operating income (loss)	$	507		$	(2,472	)	$	(8,970	)	$	10,997		$	62
Capital expenditures		6,964			315			387			—			7,666
Assets		129,063			354,035			158,359			—			641,457
Property Sales
Sales price	$	26,974		$	239,676		$	5,999		$	—		$	272,649
Less: Cost of sale		(14,914	)		(154,331	)		(7,072	)		—			(176,317	)
Gain (loss) on sale	$	12,060		$	85,345		$	(1,073	)	$	—		$	96,332

Schedule of reconciliaton of segment information to consolidated statements of operations

The table below reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations (dollars in thousands):

	For Twelve Months Ended December 31,
	2015			2014			2013
Segment operating income (loss)	$	11,721		$	(1,950	)	$	62
Other non-segment items of income (expense)
General and administrative		(5,508	)		(7,163	)		(6,308	)
Provision on impairment of notes receivable and real estate assets		(5,300	)		—			(11,320	)
Net income fee to related party		(187	)		(3,669	)		(4,089	)
Advisory fee to related party		(8,368	)		(7,373	)		(8,494	)
Other income		71			403			7,847
Gain (loss) on the sale of investments		(1	)		(92	)		(283	)
Loss from unconsolidated joint ventures and investees		41			(28	)		(172	)
Litigation settlement		(352	)		3,591			(20,313	)
Income tax benefit (expense)		(517	)		20,390			40,949
Gain (loss) from continuing operations	$	(8,400	)	$	4,109		$	(2,121	)

Schedule of reconciliaton segment information to consolidated balance sheets

The table below reconciles the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands): 

	For the Years Ended December 31,
	2015		2014		2013
Segment assets	$	844,019	$	689,121	$	641,457
Investments in real estate partnerships		5,243		1,543		1,697
Notes and interest receivable		69,551		83,457		67,907
Other assets		191,391		156,284		132,265
Assets held for sale		—		—		54,345
Total assets	$	1,110,204	$	930,405	$	897,671