Operating Segments.(Tables)

12 Months Ended

Dec. 31, 2012

Segments Operating Income Including Segments Assets And Expenditure

Segments Operating Income Including Segments Assets And Expenditure

Presented below is the operating income of each operating segment and each segment’s assets for 2012, 2011 and 2010 (dollars in thousands):

	Commercial
For the Twelve Months Ended Dec 31, 2012	Properties			Apartments			Hotels			Land			Other			Total
Operating revenue	$	37,204		$	82,153		$	-		$	78		$	86		$	119,521
Operating expenses		21,194			37,080			-			693			430			59,397
Depreciation and amortization		6,723			14,894			-			-			-			21,617
Mortgage and loan interest		7,995			36,670			-			6,923			7,446			59,034
Interest income		-			-			-			-			14,612			14,612
Gain on land sales		-			-			-			5,475			-			5,475
Segment operating gain (loss)	$	1,292		$	(6,491	)	$	-		$	(2,063	)	$	6,822		$	(440	)
Capital expenditures		2,737			978			-			-			-			3,715
Assets		162,756			538,352			-			212,285			-			913,393
Property Sales
Sales price	$	9,825		$	45,610		$	3,369		$	39,733		$	-		$	98,537
Cost of sale		(9,600	)		(40,067	)		(252	)		(34,873	)		-			(84,792	)
Deferred current gain		-			-			-			615			-			615
Recognized prior deferred gain		-			-			-						-			-
Gain on sale	$	225		$	5,543		$	3,117		$	5,475		$	-		$	14,360
	Commercial
For the Twelve Months Ended Dec 31, 2011	Properties			Apartments			Hotels			Land			Other			Total
Operating revenue	$	34,729		$	73,166		$	-		$	467		$	118		$	108,480
Operating expenses		21,596			34,843			-			2,096			369			58,904
Depreciation and amortization		5,238			13,465			-			-			-			18,703
Mortgage and loan interest		11,065			29,709			-			11,357			7,117			59,248
Interest income		-			-			-			-			10,948			10,948
Loss on land sales		-			-			-			34,247			-			34,247
Segment operating loss	$	(3,170	)	$	(4,851	)	$	-		$	21,261		$	3,580		$	16,820
Capital expenditures		3,073			652						137						3,862
Assets		169,187			547,667			-			243,488			-			960,342
Property Sales
Sales price	$	106,653		$	28,690		$	29,844		$	249,495		$	-		$	414,682
Cost of sale		(96,837	)		(14,466	)		(26,245	)		(223,331	)		-			(360,879	)
Deferred current gain		1,652			-			-			-			-			1,652
Recognized prior deferred gain		17,448			10,168			-			8,083			-			35,699
Gain on sale	$	28,916		$	24,392		$	3,599		$	34,247		$	-		$	91,154
	Commercial
For the Twelve Months Ended Dec 31, 2010	Properties			Apartments			Hotels			Land			Other			Total
Operating revenue	$	40,470		$	65,626		$	-		$	309		$	100			106,505
Operating expenses		22,280			33,096			-			3,384			8			58,768
Depreciation and amortization		7,553			12,847			-			-			-			20,400
Mortgage and loan interest		11,261			30,976			-			14,082			8,730			65,049
Interest income		-			-			-			-			8,425			8,425
Loss on land sales		-			-			-			(10,103	)		-			(10,103	)
Segment operating loss	$	(624	)	$	(11,293	)	$	-		$	(27,260	)	$	(213	)	$	(39,390	)
Capital expenditures		512			664						471						1,647
Assets		179,959			518,088			-			430,781			(19,079	)		1,109,749
Property Sales
Sales price	$	6,470		$	195,984		$	-		$	28,357		$	-		$	230,811
Cost of sale		(8,376	)		(151,735	)		-			(43,400	)		-			(203,511	)
Deferred current gain		-			(29,194	)		-			(3	)		-			(29,197	)
Recognized prior deferred gain		-			6,157			-			4,943			-			11,100
Gain on sale	$	(1,906	)	$	21,212		$	-		$	(10,103	)	$	-		$	9,203