REAL ESTATE (Tables)

12 Months Ended

Dec. 31, 2017

Real Estate [Abstract]

Schedule of the real estate owned

A summary of our real estate owned as of the end of the year is listed below (dollars in thousands):

	2017			2016
Apartments	$	737,661		$	697,732
Apartments under construction		104,791			25,288
Commercial properties		200,803			204,384
Land held for development		69,466			71,094
Real estate subject to sales contract		45,739			46,956
Total real estate, at cost, less impairment		1,158,460			1,045,454
Less accumulated deprecation		(178,590	)		(154,281	)
Total real estate, net of depreciation	$	979,870		$	891,173

Schedule of assets measures in recurring and non recurring basis

			Fair Value Measurements Using (dollars in thousands):
December 31, 2015	Fair Value		Level 1		Level 2		Level 3
Commercial	$	3,000	$	—	$	—	$	3,000