Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Significant Accounting Policies

Schedule of minimum future base rental revenue on non-cancelable leases

Minimum future base rental revenue on non-cancelable leases for the next five years are:

2019	$	10,743
2020		10,214
2021		9,527
2022		9,001
2023		7,127
	$	46,612

Schedule of revenue disaggregated by segment, good or service and timing

The following represents revenue disaggregated by segment, good or service and timing:

	Year Ended December 31, 2018
						Commercial
		Residential				Leasing
		Real Estate		Hospitality		and Sales		Forestry		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	42,761	$	-	$	4,801	$	1,807	$	2,814	$	52,183
Hospitality revenue		-		38,736		-		-		-		38,736
Leasing revenue		-		1,237		11,684		806		-		13,727
Timber revenue		108		-		-		5,522		-		5,630
Total revenue	$	42,869	$	39,973	$	16,485	$	8,135	$	2,814	$	110,276
Timing of Revenue Recognition:
Recognized at a point in time	$	42,869	$	36,700	$	4,801	$	7,329	$	2,814	$	94,513
Recognized over time		-		2,036		-		-		-		2,036
Over lease term		-		1,237		11,684		806		-		13,727
Total revenue	$	42,869	$	39,973	$	16,485	$	8,135	$	2,814	$	110,276

Investment in real estate, net

Significant Accounting Policies

Schedule of estimated economic lives

	Estimated Useful
	Life (in years)
Land	N/A
Land improvements	15 - 20
Buildings	20-40
Building improvements	5-25
Timber	N/A

Property and equipment, net

Significant Accounting Policies

Schedule of estimated economic lives

	Estimated Useful
	Life (in years)
Railroad and equipment	15-30
Furniture and fixtures	5-10
Machinery and equipment	3-10
Office equipment	5-10
Autos and trucks	5