INVESTMENTS IN REAL ESTATE (Tables)

9 Months Ended

Sep. 30, 2014

Real Estate Investments, Net [Abstract]

Summary of Carrying Value of Investments in Real Estate

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

	September 30, 2014		December 31, 2013
Properties owned, net of accumulated depreciation of $9,054 and $8,666:
Hotel property (Savannah, Georgia)	$	10,226	$	10,504
Office building (Philadelphia, Pennsylvania)	774		781
	11,000		11,285
Partnerships and other investments	6,091		6,411
Total investments in real estate, net	$	17,091	$	17,696

Schedule of Future Minimum Rental Payments for Operating Leases

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, are as follows (in thousands):

2015	$	1,017
2016	711
2017	633
2018	615
2019	344
Thereafter	512
Total	$	3,832