REAL ESTATE ACTIVITY (Tables)

6 Months Ended

Jun. 30, 2018

Real Estate [Abstract]

Schedule of the real estate owned

Below is a summary of the real estate owned as of June 30, 2018 (dollars in thousands):

Apartments	$	730,045
Apartments under construction		152,943
Commercial properties		202,367
Land held for development		64,700
Real estate held for sale		—
Real estate subject to sales contract		43,767
Total real estate	$	1,193,822
Less accumulated depreciation		(184,741	)
Total real estate, net of depreciation	$	1,009,081