INVESTMENT IN UNCONSOLIDATED INVESTEES (Tables)

9 Months Ended

Sep. 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
	September 30, 2017			September 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 September 30,	2017			2016
Real estate, net of accumulated depreciation	$	13,471		$	13,582
Notes receivable		10,065			9,359
Other assets		29,745			30,332
Notes payable		(9,226	)		(10,231	)
Other liabilities		(7,509	)		(7,372	)
Shareholders’ equity		(36,546	)		(35,670	)
For the Nine Months Ended September 30,	2017			2016
Revenue	$	36,451		$	40,598
Depreciation		(792	)		(863	)
Operating expenses		(34,641	)		(37,215	)
Interest expense		(475	)		(602	)
Net income	$	543		$	1,918
Company’s proportionate share of earnings	$	109		$	384