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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Operating Property Revenue $ 7,798,000 $ 5,605,000 $ 23,390,000 $ 21,683,000
Investment and Other Income 73,000 36,000 244,000 2,190,000
Mortgage Loan Income, Net 19,000 477,000 332,000 1,150,000
Total Revenue 7,890,000 6,118,000 23,966,000 25,023,000
Operating Expenses:        
Operating Property Direct Expenses (Exclusive of Interest and Depreciation) 6,645,000 5,755,000 18,988,000 17,972,000
Expenses for Non-Operating Real Estate Owned 86,000 239,000 377,000 853,000
Professional Fees 1,125,000 1,155,000 3,348,000 3,446,000
General and Administrative Expenses 1,829,000 2,226,000 5,691,000 6,967,000
Interest Expense 2,301,000 2,409,000 6,661,000 7,640,000
Depreciation and Amortization Expense 913,000 645,000 3,152,000 1,927,000
Total Operating Expenses 12,899,000 12,429,000 38,217,000 38,805,000
Recovery of Credit Losses, (Gain) Loss on Disposal of Assets, Impairment of Real Estate Owned and Loss of Unconsolidated Subsidiaries        
(Gain) Loss on Disposal of Assets, Net 2,000 (304,000) (20,000) (23,000)
Recovery of Credit Losses, Net (129,000) (1,000) (249,000) (10,662,000)
Impairment of Real Estate Owned 0 0 0 140,000
Loss of Unconsolidated Subsidiaries 48,000 0 238,000 0
Total Recovery of Credit Losses, (Gain) Loss on Disposal of Assets, Impairment of Real Estate Owned and Loss of Unconsolidated Subsidiaries (79,000) (305,000) (31,000) (10,545,000)
Total Costs and Expenses 12,820,000 12,124,000 38,186,000 28,260,000
Loss before Income Taxes (4,930,000) (6,006,000) (14,220,000) (3,237,000)
Provision for Income Taxes 0 0 2,000 0
Net Loss (4,930,000) (6,006,000) (14,222,000) (3,237,000)
Net (Income) Loss Attributable to Noncontrolling Interests 19,000 0 92,000 (586,000)
Cash Dividend on Redeemable Convertible Preferred Stock (539,000) (540,000) (1,606,000) (1,601,000)
Deemed Dividend on Redeemable Convertible Preferred Stock (632,000) (583,000) (1,859,000) (1,714,000)
Net Loss Attributable to Common Shareholders $ (6,082,000) $ (7,129,000) $ (17,595,000) $ (7,138,000)
Net Loss per common share        
Basic and diluted ( in dollars per share) $ (0.38) $ (0.47) $ (1.11) $ (0.47)
Basic and Diluted Weighted Average Common Shares Outstanding 15,922,321 15,279,062 15,914,283 15,269,703