REAL ESTATE (Tables)

6 Months Ended

Jun. 30, 2019

Real Estate Properties Base Purchase Price [Abstract]

Schedule of Useful Lives of Investments in Commercial Real Estate

Real estate investments are depreciated using the straight-line method over the estimated useful lives of the assets, summarized as follows:

Category	Term
Building and building improvements	1 - 44 years
Furniture and fixtures	1 - 4 years

Summary of Real Estate

	June 30, 2019			December 31, 2018
Real estate, net	(dollars in thousands)
Land	$	128,114		$	128,742
Buildings and improvements	578,967			581,320
Furniture, fixtures and equipment	13,918			11,602
Subtotal	720,999			721,664
Less: accumulated depreciation	(78,037		)	(67,026		)
Total real estate held for investment, at amortized cost, net	642,962			654,638
Equity in unconsolidated joint ventures	90,234			84,835
Total real estate, net	$	733,196		$	739,473

Minimum Future Rentals on Non-cancelable Leases

Approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases in effect at June 30, 2019 for consolidated investments in real estate are as follows:

June 30, 2019
(dollars in thousands)
2019 (remaining)	$	26,570
2020	46,349
2021	45,496
2022	41,712
2023	38,888
Later years	211,658
Total	$	410,673