INVESTMENT IN UNCONSOLIDATED JOINT VENTURES AND INVESTEES (Tables)

12 Months Ended

Dec. 31, 2018

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Schedule of investments in unconsolidated investees

Investments accounted for via the equity method consists of the following, except for VAA which is discussed in Note 2.

	Percentage ownership as of December 31,
	2018	2017	2016
American Realty Investors, INC. (1)	0.90%	0.90%	0.90%

⁽¹⁾  Unconsolidated investment in parent company

Schedule of financial position and results of operations from our investees

The following is a summary of the financial position and results of operations of ARL (dollars in thousands). Summary data presented below excludes investments in VAA. For additional information refer to Note 2.

				December 31,
	2018			2017			2016
ARL
Real estate, net of accumulated depreciation	$	549		$	12,349		$	14,504
Notes receivable		42,517			41,928			47,257
Other assets		66,712			126,238			127,001
Notes payable		(9,637	)		(6,507	)		(9,485	)
Other liabilities		(21,123	)		(102,014	)		(111,707	)
Shareholders’ equity/partners capital		(79,018	)		(71,994	)		(67,570	)

	For the Year Ended December 31,
	2018			2017			2016
Rents, interest and other income	$	7,132		$	9,193		$	7,251
Depreciation		—			(157	)		(175	)
Operating expenses		(2,420	)		(3,149	)		(3,633	)
Gain on land sales		—			4,765			—
Interest expense		(7,191	)		(6,228	)		(6,274	)
Income (loss) from continuing operations	$	(2,479	)	$	4,424		$	(2,831	)
Net  income (loss)	$	(2,479	)	$	4,424		$	(2,831	)
Company’s proportionate share of income (loss) (1)	$	(22	)	$	40		$	(25	)

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