OPERATING SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2016

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 2016, 2015 and 2014 (dollars in thousands):

For the Year Ended December 31, 2016	Commercial Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	31,864		$	86,603		$	—		$	4		$	118,471
Property operating expenses		(19,476	)		(40,786	)		(1,634	)		(22	)	$	(61,918	)
Depreciation		(8,924	)		(14,759	)		—			—			(23,683	)
Mortgage and loan interest		(7,167	)		(25,381	)		(1,746	)		(18,794	)		(53,088	)
Interest income		—			—			—			14,670			14,670
Gain (loss) on sale of income producing properties		(238	)		16,445			—			—			16,207
Gain on land sales		—			—			3,121			—			3,121
Segment operating income (loss)	$	(3,941	)	$	22,122		$	(259	)	$	(4,142	)	$	13,780
Capital expenditures	$	4,577		$	863		$	269		$	—		$	5,709
Assets	$	148,689		$	624,433		$	118,051		$	—		$	891,173
Property Sales
Sales price	$	1,500		$	20,350		$	29,128		$	—		$	50,978
Less: Cost of sale		(1,738	)		(3,905	)		(26,007	)		—			(31,650	)
Gain (loss) on sale	$	(238	)	$	16,445		$	3,121		$	—		$	19,328

	Commercial
For the Year Ended December 31, 2015	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	)		(23,506	)		(4,214	)		(11,930	)		(46,541	)
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
	Commercial
For the Year Ended December 31, 2014	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		(5,812	)		(18,946	)		(4,334	)		(4,589	)		(33,681	)
Interest income		—			—			—			12,194			12,194
Loss 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 (loss) on sale	$	10,014		$	51,865		$	561		$	—		$	62,440

Schedule of reconciliaton of segment information to consolidated statements of operations

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

	For the Years Ended December 31,
	2016			2015			2014
Segment operating income (loss)	$	13,780		$	11,721		$	(1,950	)
Other non-segment items of income (expense)
General and administrative		(5,476	)		(5,508	)		(7,163	)
Provision on impairment of real estate assets		—			(5,300	)		—
Net income fee to related party		(257	)		(187	)		(3,669	)
Advisory fee to related party		(9,490	)		(8,368	)		(7,373	)
Other income		1,816			71			403
Gain (loss) on the sale of investments		—			(1	)		(92	)
Loss from unconsolidated joint ventures and investees		(26	)		41			(28	)
Litigation settlement		—			(352	)		3,591
Income tax benefit (expense)		(24	)		(517	)		20,390
Net income (loss) from continuing operations	$	323		$	(8,400	)	$	4,109

Schedule of reconciliaton segment information to consolidated balance sheets

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

	For the Years Ended December 31,
	2016		2015		2014
Segment assets	$	891,173	$	844,019	$	689,121
Investments in real estate partnerships		2,446		5,243		1,543
Notes and interest receivable		79,308		69,551		83,457
Other assets		212,987		191,391		156,284
Total assets	$	1,185,914	$	1,110,204	$	930,405