REAL ESTATE ACTIVITY (Tables)

3 Months Ended

Mar. 31, 2017

Real Estate [Abstract]

Schedule of real estate owned

Below is a summary of the real estate owned as of March 31, 2017 (dollars in thousands):

Apartments	$	694,963
Apartments under construction		40,134
Commercial properties		220,256
Land held for development		79,655
Real estate subject to sales contract		48,323
Total real estate	$	1,083,331
Less accumulated depreciation		(171,607	)
Total real estate, net of depreciation	$	911,724