OPERATING SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2014

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS - Operating segment information for the three months ended March 31, 2014and 2013

Presented below is the operating segment information for the three months ended March 31, 2014 and 2013 (dollars in thousands):

For the Three Months Ended March 31, 2014	Land			Other		Total
Rental and other property revenues	$	-		$	-	$	-
Property operating expenses		18			-		18
Mortgage and loan interest		184			-		184
Interest income from related parties		-			1,133		1,133
Segment operating income (loss)	$	(202	)	$	1,133	$	931
Real estate assets		24,511			-		24,511
For the Three Months Ended March 31, 2013	Land			Other		Total
Rental and other property revenues	$	-		$	-	$	-
Property operating expenses		14			-		14
Mortgage and loan interest		288			-		288
Interest income from related parties		-			1,407		1,407
Segment operating income (loss)	$	(302	)	$	1,407	$	1,105
Real estate assets		24,511			-		24,511

OPERATING SEGMENTS - Reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations and Balance Sheets:

The table below reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations:

	For the Three Months Ended
	March 31,
	2014			2013
Segment operating income	$	931		$	1,105
Other non-segment items of income (expense)
General and administrative		(162	)		(132	)
Net income fee due to related party		(45	)		(56	)
Advisory fee to related party		(165	)		(204	)
Income tax expense		-			(6	)
Net income from continuing operations	$	559		$	707

OPERATING SEGMENTS - Operating segment information to the corresponding amounts in the Consolidated Balance Sheets

The table below reconciles the segment information to the corresponding amounts in the Consolidated Balance Sheets:

	March 31,
	2014		2013
Real estate assets	$	24,511	$	24,511
Notes and interest receivable		24,794		24,913
Other assets		44,984		60,689
Total assets	$	94,289	$	110,113