OPERATING SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2015

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS - Operating segment information for the three months ended March 31, 2015 and 2014

Presented below is the operating segment information for the three months ended March 31, 2015 and 2014 (dollars in thousands):

For the Three Months Ended March 31, 2015	Land			Other		Total
Rental and other property revenues	$	-		$	-	$	-
Property operating expenses		(7	)		-		(7	)
Mortgage and loan interest		(165	)		-		(165	)
Interest income from related parties		-			1,120		1,120
Segment operating income (loss)	$	(172	)	$	1,120	$	948
Real estate assets		25,717			-		25,717

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

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 (dollars in thousands):

	For the Three Months Ended
	March 31,
	2015			2014
Segment operating income	$	948		$	931
Other non-segment items of income (expense)
General and administrative		(174	)		(162	)
Net income fee to related party		(45	)		(45	)
Advisory fee to related party		(175	)		(165	)
Net income from continuing operations	$	554		$	559

The table below reconciles the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):

	March 31,
	2015		2014
Real estate assets	$	25,717	$	24,511
Notes and interest receivable		24,316		24,794
Other assets		43,441		44,984
Total assets	$	93,474	$	94,289