INVESTMENTS IN REAL ESTATE (Notes)

9 Months Ended

Sep. 30, 2013

Schedule of Investments [Abstract]

INVESTMENTS IN REAL ESTATE

INVESTMENTS IN REAL ESTATE

The Company’s investments in real estate, net, consist of the following (in thousands):

	September 30, 2013		December 31, 2012
Properties owned, net of accumulated depreciation of $8,373 and $7,972:
Hotel property (Savannah, Georgia)	$	10,668	$	11,107
Office building (Philadelphia, Pennsylvania)	795		1,058
	11,463		12,165
Partnerships and other investments	5,665		5,876
Total investments in real estate, net	$	17,128	$	18,041

The contractual future minimum rental income on non-cancelable operating leases included in properties owned for each of the five succeeding annual periods ending September 30, and thereafter, is as follows (in thousands):

2014	$	966
2015	848
2016	594
2017	518
2018	492
Thereafter	662
	$	4,080