OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of operating segment, including segment assets and expenditures

Presented below is our reportable segments’ operating income for the three months ended June 30, 2020 and 2019, including segment assets and expenditures (dollars in thousands):

	Commercial
For the Three Months Ended June 30, 2020	Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	7,863		$	4,084		$	—		$	—		$	11,947
Property operating expenses		(4,070	)		(1,930	)		(95	)		285			(5,810	)
Depreciation		(2,480	)		(938	)		—			—			(3,418	)
Mortgage and loan interest		(1,345	)		(1,177	)		(219	)		(5,000	)		(7,741	)
Interest income		—			—			—			4,227			4,227
Gain on land sales		—			—			5,339			—			5,339
Segment operating (loss) income	$	(32	)	$	39		$	5,025		$	(488	)	$	4,544
Capital expenditures	$	232		$	7,400		$	664		$	—		$	8,296
Assets	$	146,576		$	180,835		$	67,533		$	—		$	394,944
Property Sales
Sales price	$	—		$	2,426		$	6,477		$	—		$	8,903
Cost of sale		—			(2,426	)		(1,138	)		—			(3,564	)
Gain on land sales	$	—		$	—		$	5,339		$	—		$	5,339

	Commercial
For the Three Months Ended June 30, 2019	Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	8,020		$	3,818		$	—		$	2		$	11,840
Property operating expenses		(4,410	)		(2,017	)		(88	)		(807	)		(7,322	)
Depreciation		(2,732	)		(707	)		—			—			(3,439	)
Mortgage and loan interest		(1,947	)		(1,002	)		(270	)		(4,427	)		(7,646	)
Interest income		—			—			—			4,878			4,878
Loss on sale of income producing property		—			(80	)		—			—			(80	)
Gain on land sales		—			—			2,133			—			2,133
Segment operating (loss) income	$	(1,069	)	$	12		$	1,775		$	(354	)	$	364
Capital expenditures	$	346		$	9,596		$	353		$	—		$	10,295
Assets	$	—		$	—		$	—		$	—		$	—
Property Sales
Sales price	$	—		$	3,096		$	7,602		$	—		$	10,698
Cost of sale		—			(3,176	)		(5,469	)		—			(8,645	)
Gain on sale	$	—		$	(80	)	$	2,133		$	—		$	2,053

Presented below is our reportable segments’ operating income for the six months ended June 30, 2020 and 2019, including segment assets and expenditures (dollars in thousands):

	Commercial
For the Six Months Ended June 30, 2020	Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	15,747		$	8,116		$	—		$	2		$	23,865
Property operating expenses		(8,180	)		(3,860	)		(193	)		114			(12,119	)
Depreciation		(5,002	)		(1,810	)		—			—			(6,812	)
Mortgage and loan interest		(2,717	)		(2,349	)		(425	)		(10,217	)		(15,708	)
Interest income		—			—			—			8,754			8,754
Gain on land sales		—			—			9,477			—			9,477
Segment operating (loss) income	$	(152	)	$	97		$	8,859		$	(1,347	)	$	7,457
Capital expenditures	$	941		$	14,433		$	2,664		$	—		$	18,038
Assets	$	146,576		$	180,835		$	67,533		$	—		$	394,944
Property Sales
Sales price	$	—		$	2,426		$	12,189		$	—		$	14,615
Cost of sale		—			(2,426	)		(2,712	)		—			(5,138	)
Gain on land sales	$	—		$	—		$	9,477		$	—		$	9,477

	Commercial
For the Six Months Ended June 30, 2019	Properties			Apartments			Land			Other			Total
Rental and other property revenues	$	16,247		$	7,518		$	—		$	4		$	23,769
Property operating expenses		(8,346	)		(4,075	)		(45	)		(853	)		(13,319	)
Depreciation		(5,107	)		(1,441	)		—			—			(6,548	)
Mortgage and loan interest		(3,914	)		(1,936	)		(523	)		(9,232	)		(15,605	)
Interest income		—			—			—			9,436			9,436
Loss on sale of income producing property		—			(80	)		—			—			(80	)
Gain on land sales		—			—			4,349			—			4,349
Segment operating (loss) income	$	(1,120	)	$	(14	)	$	3,781		$	(645	)	$	2,002
Capital expenditures	$	4,045		$	17,434		$	2,832		$	—		$	24,311
Assets	$	152,852		$	153,950		$	79,699		$	—		$	386,501
Property Sales
Sales price	$	—		$	3,096		$	16,317		$	—		$	19,413
Cost of sale		—			(3,176	)		(11,968	)		—			(15,144	)
Gain on sale	$	—		$	(80	)	$	4,349		$	—		$	4,269

Schedule of reconciliaton of segment information to consolidated statements of operations

The table below provides the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the three months ended June 30, 2020 and 2019 (dollars in thousands):

	For the Three Months Ended June 30,
	2020			2019
Segment operating income	$	4,544		$	364
Other non-segment items of income (expense)
General and administrative		(1,405	)		(2,211	)
Franchise taxes and other expenses		—			—
Net income fee to related party		(112	)		(90	)
Advisory fee to related party		(2,051	)		(2,158	)
Other income		1,484			688
Foreign currency translation gain (loss)		(5,599	)		(2,325	)
Loss from joint venture		(735	)		(236	)
Losses from other unconsolidated investees		7			2
State income tax expense		(49	)		—
Net income (loss) from continuing operations	$	(3,916	)	$	(5,966	)

The following table reconciles segment information to the corresponding amounts in the Consolidated Statements of Operations for the six months ended June 30, 2020 and 2019 (dollars in thousands):

	For the Six Months Ended June 30,
	2020			2019
Segment operating income	$	7,457		$	2,002
Other non-segment items of income (expense)
General and administrative		(3,926	)		(4,539	)
Franchise taxes and other expenses		(1,494	)		—
Net income fee to related party		(198	)		(190	)
Advisory fee to related party		(4,146	)		(3,806	)
Other income		2,319			4,580
Foreign currency translation gain (loss)		2,244			(8,143	)
Loss from joint venture		(1,111	)		(1,291	)
Losses from other unconsolidated investees		6			(5	)
State income tax expense		(296	)		—
Net income (loss) from continuing operations	$	855		$	(11,392	)

Schedule of reconciliaton segment information to consolidated balance sheets

The tables below reconcile the segment information to the corresponding amounts in the Consolidated Balance Sheets:

	As of June 30,
	2020		2019
Segment assets	$	394,944	$	386,501
Investments in unconsolidated subsidiaries and investees		75,411		89,245
Notes and interest receivable		135,664		116,864
Other assets and receivables		258,148		261,277
Total assets	$	864,167	$	853,887