REAL ESTATE ACTIVITY (Tables)

6 Months Ended

Jun. 30, 2020

Real Estate [Abstract]

Schedule of the real estate owned

Below is a summary of the real estate owned as of June 30, 2020 and December 31, 2019 (dollars in thousands):

	June 30,			December 31,
	2020			2019
Apartments	$	178,240		$	156,173
Apartments under construction		14,809			22,363
Commercial properties		230,365			229,424
Land held for development		61,225			62,037
Real estate subject to sales contract		6,307			7,966
Total real estate, at cost, less impairment	$	490,946		$	477,963
Less accumulated deprecation		(96,002	)		(90,173	)
Total real estate, net of depreciation	$	394,944		$	387,790