INVESTMENTS IN REAL ESTATE

6 Months Ended

Jun. 30, 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):

	June 30, 2014		December 31, 2013
Properties owned, net of accumulated depreciation of $8,928 and $8,666:
Hotel property (Savannah, Georgia)	$	10,202	$	10,504
Office building (Philadelphia, Pennsylvania)	791		781
	10,993		11,285
Partnerships and other investments	6,091		6,411
Total investments in real estate, net	$	17,084	$	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 June 30, and thereafter, are as follows (in thousands):

2015	$	1,080
2016	742
2017	658
2018	614
2019	436
Thereafter	525
Total	$	4,055