Operating Segments.(Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2013 and 2012, including segment assets and expenditures (dollars in thousands):

	Commercial
For the Three Months Ended September 30, 2013	Properties			Apartments			Hotels		Land			Other			Total
Rental and other property revenues	$	6,081		$	21,259		$	-	$	45		$	97		$	27,482
Property operating expenses		3,883			9,623			-		514			22			14,042
Depreciation and amortization		1,703			3,640			-		-			(39	)		5,304
Mortgage and loan interest		1,467			5,414			-		1,653			2,189			10,723
Deferred borrowing costs		17			8			-		34			205			264
Loan charges and prepayment penalties		-			-			-		-			49			49
Interest income		-			-			-		-			3,778			3,778
Gain on land sales		-			-			-		598						598
Segment operating income (loss)	$	(989	)	$	2,574		$	-	$	(1,558	)	$	1,449		$	1,476
Capital expenditures		2,998			37			-		83			-			3,118
Real estate assets		151,231			509,768			-		209,788			-			870,787
Property Sales
Sales price	$	-		$	-		$	-	$	1,187		$	-		$	1,187
Cost of sale		-			(127	)		-		589			-			462
Gain on sale	$	-		$	127		$	-	$	598		$	-		$	725
	Commercial
For the Three Months Ended September 30, 2012	Properties			Apartments			Hotels		Land			Other			Total
Rental and other property revenues	$	7,416		$	20,350		$	-	$	-		$	5		$	27,771
Property operating expenses		4,186			9,550			-		159			(1	)		13,894
Depreciation and amortization		1,462			3,637			-		-			(66	)		5,033
Mortgage and loan interest		1,099			6,336			-		1,604			1,923			10,962
Deferred borrowing costs		23			(629	)		-		58			1			(547	)
Loan charges and prepayment penalties		-			-			-		35			-			35
Interest income		-			-			-		-			2,280			2,280
Gain on land sales		-			-			-		2,898			-			2,898
Segment operating income (loss)	$	646		$	1,456		$	-	$	1,042		$	428		$	3,572
Capital expenditures		1,404			269			-		-			-			1,673
Real estate assets		166,696			558,519			-		218,580			-			943,795
Property Sales
Sales price	$	3,000		$	-		$	-	$	17,410		$	-		$	20,410
Cost of sale		2,331			84			-		15,127			-			17,542
Deferred current gain		-			-			-		615			-			615
Gain (loss) on sale	$	669		$	(84	)	$	-	$	2,898		$	-		$	3,483