COMMITMENTS AND CONTINGENCIES	3 Months Ended
Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES [Abstract]
Commitments and Contingencies	Note 10—Commitments and Contingencies Operating Leases The Company had no future rental commitments at March 31, 2020. Litigation and Other Legal Matters In the ordinary course of business, the Company and its subsidiaries are named from time to time as defendants in various litigation matters or may have other claims made against them. These legal proceedings may include claims for substantial or indeterminate compensatory, consequential or punitive damages, or for injunctive or declaratory relief. The Company establishes reserves for litigation matters or other loss contingencies when a loss is probable and can be reasonably estimated. Once established, reserves may be adjusted when new information is obtained. At March 31, 2020, we had no significant litigation matters and we were not aware of any other claims that we believe would have a material adverse impact on our financial condition or results of operations. Other Risks and Uncertainties With respect to the equity investment in the SF Venture, the downturn in the economy that stems from the coronavirus pandemic (“COVID-19”) is expected to reduce the underlying real estate value. In this regard, we anticipate that we will continue to recognize equity in losses from the SF Venture related to our equity investment and that such losses may increase, possibly significantly, as the SF Venture consists of hotel tenants, retail tenants and undeveloped land parcels. However, the severity and duration of expected losses cannot be currently quantified due to uncertainty about the duration of COVID-19. Nonetheless, we believe that it is reasonably possible that, within the next 12 months, a loss that is material to the Company’s financial statements could be recognized due to the residual economic effects of the measures taken to combat COVID-19, which could weigh on the performance of the development and underlying real estate value. However, the exact timing and amount of loss recognition is based upon future circumstances and, therefore, cannot be predicted at this time. With respect to recognized DTA, the Company’s assessment of the likelihood of realizing tax benefits related to DTAs recognized in the fourth quarter of 2019 did not change in the first quarter of 2020. That is, while COVID-19 caused a sharp deterioration in macro-economic conditions, the potential amount and permanence of long-term impacts of those conditions on the Company’s business was uncertain at March 31, 2020. Consequently, the Company did not make an adjustment in the first quarter to the carrying value of DTAs that were recognized at December 31, 2019. Nonetheless, given such uncertainty, we believe it is reasonably possible that, within the next 12 months, a reduction to the carrying value of recognized DTAs that is material to the Company’s financial statements could be recognized. However, the exact timing and amount of loss recognition depends upon future circumstances and, therefore, cannot be predicted at this time.

Note 10—Commitments and Contingencies

Operating Leases

The Company had no future rental commitments at March 31, 2020.

Litigation and Other Legal Matters

In the ordinary course of business, the Company and its subsidiaries are named from time to time as defendants in various litigation matters or may have other claims made against them. These legal proceedings may include claims for substantial or indeterminate compensatory, consequential or punitive damages, or for injunctive or declaratory relief.

The Company establishes reserves for litigation matters or other loss contingencies when a loss is probable and can be reasonably estimated. Once established, reserves may be adjusted when new information is obtained. At March 31, 2020, we had no significant litigation matters and we were not aware of any other claims that we believe would have a material adverse impact on our financial condition or results of operations.

Other Risks and Uncertainties

With respect to the equity investment in the SF Venture, the downturn in the economy that stems from the coronavirus pandemic (“COVID-19”) is expected to reduce the underlying real estate value. In this regard, we anticipate that we will continue to recognize equity in losses from the SF Venture related to our equity investment and that such losses may increase, possibly significantly, as the SF Venture consists of hotel tenants, retail tenants and undeveloped land parcels. However, the severity and duration of expected losses cannot be currently quantified due to uncertainty about the duration of COVID-19. Nonetheless, we believe that it is reasonably possible that, within the next 12 months, a loss that is material to the Company’s financial statements could be recognized due to the residual economic effects of the measures taken to combat COVID-19, which could weigh on the performance of the development and underlying real estate value. However, the exact timing and amount of loss recognition is based upon future circumstances and, therefore, cannot be predicted at this time.

With respect to recognized DTA, the Company’s assessment of the likelihood of realizing tax benefits related to DTAs recognized in the fourth quarter of 2019 did not change in the first quarter of 2020. That is, while COVID-19 caused a sharp deterioration in macro-economic conditions, the potential amount and permanence of long-term impacts of those conditions on the Company’s business was uncertain at March 31, 2020. Consequently, the Company did not make an adjustment in the first quarter to the carrying value of DTAs that were recognized at December 31, 2019. Nonetheless, given such uncertainty, we believe it is reasonably possible that, within the next 12 months, a reduction to the carrying value of recognized DTAs that is material to the Company’s financial statements could be recognized. However, the exact timing and amount of loss recognition depends upon future circumstances and, therefore, cannot be predicted at this time.