INVESTMENTS IN REAL ESTATE

6 Months Ended

Jun. 30, 2016

Real Estate Investments, Net [Abstract]

INVESTMENTS IN REAL ESTATE

NOTE 5 - INVESTMENTS IN REAL ESTATE

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

	June 30, 2016		December 31, 2015
Properties owned, net of accumulated depreciation of $10,039 and $9,752:
Hotel property (Savannah, Georgia)	$	9,755	$	9,757
Office building (Philadelphia, Pennsylvania)	908		877
	10,663		10,634
Partnerships and other investments	5,437		5,388
Total investments in real estate, net	$	16,100	$	16,022

The Company recorded rental income of $1.9 million and $1.7 million for the three month periods ended June 30, 2016 and June 30, 2015, respectively and $3.1 million and $2.9 million for six month periods ended June 30, 2016 and June 30, 2015, respectively. 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):

2017	$	903
2018	853
2019	827
2020	648
2021	291
Thereafter	312
Total	$	3,834