INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

9 Months Ended

Sep. 30, 2016

Equity Method Investments and Joint Ventures [Abstract]

Schedule of investments in unconsolidated joint ventures

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

	Percentage ownership as of
	September 30, 2016			September 30, 2015
American Realty Investors, Inc.(1)		0.90	%		1.00	%

(1) Unconsolidated investment in parent company owning 140,000 shares of ARL Common Stock

Schedule of the financial position and results of operations - unconsolidated parent

The following is a summary of the financial position and results of operations from our unconsolidated parent (dollars in thousands):

As of September 30,		2016			2015
Real estate, net of accumulated depreciation	$	14,550		$	14,255
Notes receivable		46,371			49,614
Other assets		126,848			127,300
Notes payable		(10,426	)		(27,315	)
Other liabilities		(111,789	)		(94,479	)
Shareholders’ equity		(65,554	)		(69,375	)

For the Nine Months Ended September 30,	2016			2015
Rents and interest and other income	$	5,586		$	10,121
Depreciation		(113	)		(159	)
Operating expenses		(2,897	)		(3,727	)
Gain on land sales		—			2,737
Interest expense		(4,725	)		(4,502	)
Income (loss) from continuing operations		(2,149	)		4,470
Income (loss) from discontinued operations		—			1
Net income (loss)	$	(2,149	)	$	4,471
Company’s proportionate share of income (loss) (1)	$	(19	)	$	40

⁽¹⁾ Income (loss) represents continued and discontinued operations