Operating Segments.(Tables)

6 Months Ended

Jun. 30, 2013

Segments Operating Income Including Segments Assets And Expenditure

Segments Operating Income Including Segments Assets And Expenditure

Presented below is our reportable segments’ operating income for the three and six months ended June 30, 2013 and 2012, including segment assets and expenditures (dollars in thousands):

	Commercial
For the Three Months Ended June 30, 2013	Properties			Apartments			Hotels		Land			Other			Total
Rental and other property revenues	$	6,197		$	20,956		$	-	$	22		$	7		$	27,182
Property operating expenses		3,116			9,040			-		356			32			12,544
Depreciation and amortization		1,851			3,633			-		-			(39	)		5,445
Mortgage and loan interest		1,798			5,973			-		1,504			1,790			11,065
Deferred borrowing costs		21			897			-		35			7			960
Loan charges and prepayment penalties		-			3,200			-		-			180			3,380
Interest income		-			-			-		-			3,512			3,512
Segment operating income (loss)	$	(589	)	$	(1,787	)	$	-	$	(1,873	)	$	1,549		$	(2,700	)
Capital expenditures		2,250			110			-		-			-			2,360
Real estate assets		149,684			513,328			-		210,095			-			873,107
Property Sales
Sales price	$	26,974		$	24,822		$	-	$	-		$	-		$	51,796
Cost of sale		14,914			18,808			-		-			-			33,722
Gain on sale	$	12,060		$	6,014		$	-	$	-		$	-		$	18,074
	Commercial
For the Three Months Ended June 30, 2012	Properties			Apartments			Hotels		Land			Other			Total
Rental and other property revenues	$	7,441		$	19,809		$	-	$	-		$	34		$	27,284
Property operating expenses		4,312			8,761			-		293			(113	)		13,253
Depreciation and amortization		1,437			3,573			-		-			(69	)		4,941
Mortgage and loan interest		1,536			7,027			-		1,497			2,001			12,061
Deferred borrowing costs		23			1,903			-		37			12			1,975
Loan charges and prepayment penalties		-			3,730			-		39			-			3,769
Interest income		-			-			-		-			4,723			4,723
Gain on land sales		-			-			-		4,738			-			4,738
Segment operating income (loss)	$	133		$	(5,185	)	$	-	$	2,872		$	2,926		$	746
Capital expenditures		431			37			-		-			-			468
Real estate assets		166,902			561,711			-		231,497			-			960,110
Property Sales
Sales price	$	6,825		$	25,985		$	3,369	$	12,650		$	-		$	48,829
Cost of sale		7,313			23,946			252		7,912			-			39,423
Gain (loss) on sale	$	(488	)	$	2,039		$	3,117	$	4,738		$	-		$	9,406