INVESTMENT IN UNCONSOLIDATED INVESTEES (Tables)

3 Months Ended

Mar. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Schedule of investments in unconsolidated investees

Investments in unconsolidated investees consist of the following:

	Percentage ownership as of
	March 31, 2017			March 31, 2016
Gruppa Florentina, LLC		20.00	%	20.00	%

Schedule of financial position and results of operations from our investees

The following is a summary of the financial position and results of operations from our investees (dollars in thousands):

As of March 31,	2017			2016
Real estate, net of accumulated depreciation	$	13,499		$	13,620
Notes receivable		9,764			8,657
Other assets		28,313			29,494
Notes payable		(9,449	)		(10,555	)
Other liabilities		(5,958	)		(5,146	)
Shareholders’ equity		(36,169	)		(36,071	)

For the Three Months Ended March 31,		2017			2016
Revenue	$	13,614		$	13,414
Depreciation		(288	)		(288	)
Operating expenses		(12,614	)		(12,235	)
Interest expense		182			(205	)
Income from continuing operations		894			687
Net income	$	894		$	687
Company’s proportionate share of earnings	$	179		$	137