REAL ESTATE ACTIVITY (Tables)

3 Months Ended

Mar. 31, 2018

Real Estate [Abstract]

Schedule of the real estate owned

Below is a summary of the real estate owned as of March 31, 2018 (dollars in thousands):

Apartments	$	718,373
Apartments under construction		124,272
Commercial properties		201,436
Land held for development		67,265
Real estate subject to sales contract		45,739
Total real estate	$	1,157,085
Less accumulated depreciation		(179,100	)
Total real estate, net of depreciation	$	977,985