INVESTMENTS IN REAL ESTATE

3 Months Ended

Mar. 31, 2014

Real Estate Investments, Net [Abstract]

INVESTMENTS IN REAL ESTATE

INVESTMENTS IN REAL ESTATE

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

	March 31, 2014		December 31, 2013
Properties owned, net of accumulated depreciation of $8,795 and $8,666:
Hotel property (Savannah, Georgia)	$	10,233	$	10,504
Office building (Philadelphia, Pennsylvania)	775		781
	11,008		11,285
Partnerships and other investments	6,159		6,411
Total investments in real estate, net	$	17,167	$	17,696

The contractual future minimum rental income on non-cancelable operating leases included in properties owned for each of the five succeeding annual periods ending March 31, and thereafter, are as follows (in thousands):

2015	$	1,054
2016	790
2017	651
2018	576
2019	491
Thereafter	581
Total	$	4,143