INVESTMENT IN UNCONSOLIDATED INVESTEES (Tables)

6 Months Ended

Jun. 30, 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
	June 30, 2017			June 30, 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 June 30,	2017			2016
Real estate, net of accumulated depreciation	$	13,578		$	13,692
Notes receivable		9,969			8,858
Other assets		30,188			30,655
Notes payable		(9,514	)		(10,648	)
Other liabilities		(7,821	)		(7,304	)
Shareholders’ equity		(36,400	)		(35,253	)
For the Six Months Ended June 30,		2017			2016
Revenue	$	27,458		$	27,321
Depreciation		(575	)		(575	)
Operating expenses		(25,533	)		(24,841	)
Interest expense		(353	)		(405	)
Income from continuing operations		997			1,500
Income from discontinued operations		—			—
Net income	$	997		$	1,500
Company’s proportionate share of earnings	$	199		$	300