INVESTMENTS IN REAL ESTATE

12 Months Ended

Dec. 31, 2015

Real Estate Investments, Net [Abstract]

NOTE 5 - INVESTMENTS IN REAL ESTATE

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



	December 31,
	2015		2014
Properties owned, net of accumulated depreciation of $9,752 and $9,198:
Hotel property (Savannah, Georgia)	$	9,757	$	10,110
Office building (Philadelphia, Pennsylvania)	877		888
	10,634		10,998
Partnerships and other investments	5,388		6,099
Total investments in real estate, net	$	16,022	$	17,097

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



2016	$	972
2017	815
2018	829
2019	492
2020	279
Thereafter	261
Total	$	3,648

- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

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