OPERATING SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Schedule of operating income of each operating segment and each segment's assets

Presented below is the Company’s reportable segments’ operating income including segment assets and expenditures for the years 2016, 2015 and 2014 (dollars in thousands):

For the Twelve Months Ended December 31, 2016	Commercial Properties			Apartments			Land			Other			Total
Operating revenue	$	33,026		$	86,603		$	30		$	4		$	119,663
Operating expenses		(20,398	)		(40,786	)		(1,745	)		(21	)		(62,950	)
Depreciation and amortization		(9,099	)		(14,759	)		—			73			(23,785	)
Mortgage and loan interest		(7,191	)		(25,381	)		(2,232	)		(24,558	)		(59,362	)
Interest income		—			—			—			20,453			20,453
Gain on sale of income producing properties		(238	)		16,445			—			—			16,207
Gain on land sales		—			—			3,121			—			3,121
Segment operating income (loss)	$	(3,900	)	$	22,122		$	(826	)	$	(4,049	)	$	13,347
Capital expenditures	$	5,008		$	864		$	268		$	—		$	6,140
Assets	$	150,838		$	622,061		$	128,107		$	—		$	901,006
Property Sales
Sales price	$	1,500		$	20,350		$	29,128		$	—		$	50,978
Cost of sale		(1,738	)		(3,905	)		(26,007	)		—			(31,650	)
Gain on sale	$	(238	)	$	16,445		$	3,121		$	—		$	19,328

For the Twelve Months Ended December 31, 2015	Commercial Properties			Apartments			Land			Other			Total
Operating revenue	$	30,540		$	73,543		$	—		$	105		$	104,188
Operating expenses		(17,761	)		(34,955	)		(1,029	)		(257	)		(54,002	)
Depreciation and amortization		(8,993	)		(12,498	)		—			73			(21,418	)
Mortgage and loan interest		(6,919	)		(23,699	)		(4,694	)		(17,165	)		(52,477	)
Interest income		—			—			—			16,674			16,674
Gain on land sales		—			—			21,648			—			21,648
Segment operating income (loss)	$	(3,133	)	$	2,391		$	15,925		$	(570	)	$	14,613
Capital expenditures	$	8,133		$	506		$	2,621		$	—		$	11,260
Assets	$	155,147		$	551,415		$	146,945		$	—		$	853,507
Property Sales
Sales price	$	—		$	11,129		$	107,298		$	—		$	118,427
Cost of sale		—			(10,394	)		(88,387	)		—			(98,781	)
Recognized prior deferred gain		—			—			2,737			—			2,737
Gain on sale	$	—		$	735		$	21,648		$	—		$	22,383

For the Twelve Months Ended December 31, 2014	Commercial Properties			Apartments			Land			Other			Total
Operating revenue	$	20,476		$	58,882		$	1		$	53		$	79,412
Operating expenses		(13,127	)		(27,588	)		(1,397	)		(12	)		(42,124	)
Depreciation and amortization		(7,413	)		(10,270	)		—			90			(17,593	)
Mortgage and loan interest		(6,139	)		(19,403	)		(4,684	)		(10,600	)		(40,826	)
Interest income		—			—			—			20,054			20,054
Gain on land sales		—			—			561			—			561
Segment operating income (loss)	$	(6,203	)	$	1,621		$	(5,519	)	$	9,585		$	(516	)
Capital expenditures	$	4,874		$	320		$	2,436		$	—		$	7,630
Assets	$	142,118		$	390,366		$	167,279		$	—		$	699,763
Property Sales
Sales price	$	19,182		$	115,273		$	8,091		$	—			142,546
Cost of sale		(9,168	)		(63,408	)		(7,530	)		—			(80,106	)
Gain (loss) on sale	$	10,014		$	51,865		$	561		$	—		$	62,440

Schedule of Segment information to Consolidated Statements of Operations

The table below reflects the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations (dollars in thousands):

	For Twelve Months Ended December 31,
	2016			2015			2014
Segment operating income (loss)	$	13,347		$	14,613		$	(516	)
Other non-segment items of income (expense)
General and administrative		(7,119	)		(6,893	)		(10,282	)
Provision on impairment of notes receivable and real estate assets		—			(5,300	)		—
Net income fee to related party		(257	)		(492	)		(3,669	)
Advisory fee to related party		(10,918	)		(9,775	)		(8,943	)
Other income		2,091			4,106			1,415
Loss on sale of investments		—			(1	)		(92	)
Earnings from unconsolidated joint ventures and investees		493			428			347
Litigation settlement		—			(352	)		3,591
Income tax benefit (expense)		(46	)		(517	)		20,413
Gain (loss) from continuing operations	$	(2,409	)	$	(4,183	)	$	2,264

Schedule of Segment information to Consolidated Balance Sheets

The table below reflects the reconciliation of segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands): 

	For the Years Ended December 31,
	2016		2015		2014
Segment assets	$	901,006	$	853,507	$	699,763
Investments in unconsolidated subsidiaries and investees		6,087		8,365		4,279
Notes and interest receivable		126,564		120,243		134,366
Other assets and receivables		141,252		135,253		127,090
Total assets	$	1,174,909	$	1,117,368	$	965,498