REAL ESTATE ACTIVITY (Tables)

9 Months Ended

Sep. 30, 2017

Real Estate [Abstract]

Schedule of real estate owned

Below is a summary of the real estate owned as of September 30, 2017 (dollars in thousands):

Apartments	$	695,746
Apartments under construction		77,537
Commercial properties		221,493
Land held for development		79,331
Real estate subject to sales contract		48,898
Total real estate	$	1,123,005
Less accumulated depreciation		(183,762	)
Total real estate, net of depreciation	$	939,243