Investment in Real Estate (Tables)

6 Months Ended

Jun. 30, 2012

Real Estate by Property Type and Segment

Real estate by property type and segment includes the following:

	June 30, 2012			December 31, 2011
Operating property:
Residential real estate	$	136,626		$	136,563
Commercial		5,372			4,691
Rural land sales		139			139
Forestry		58,031			58,087
Other		410			410
Total operating property		200,578			199,890
Development property:
Residential real estate		157,893			157,245
Commercial		60,406			57,600
Rural land sales		7,959			9,573
Total development property		226,258			224,418
Investment property:
Commercial real estate		700			700
Forestry		953			953
Other		3,471			3,471
Total investment property		5,124			5,124
Investment in unconsolidated affiliates:
Residential real estate		2,238			2,259
Total real estate investments		434,198			431,691
Less: accumulated depreciation		(46,665	)		(44,489	)
Investments in real estate	$	387,533		$	387,202