PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Our operating properties carrying values consist of land and certain depreciable assets such as buildings, improvements, and furniture and equipment assets. A summary of these assets, at cost less accumulated depreciation and amortization, as of December 31, 2018 and 2017, follows (in thousands):



	December 31,
	2018			2017
Buildings and improvements	$	13,650		$	13,650
Furniture, fixtures and equipment	1,087			1,060
Computer equipment	6			6
Total depreciable assets	14,743			14,716
Less accumulated depreciation and amortization	(855		)	(171		)
Total depreciable assets, net	13,888			14,545
Land	4,920			4,920
Construction in progress	15,058			1,019
Property and equipment, net	$	33,866		$	20,484

In addition to these assets, the Company owns other property and equipment related primarily to our corporate activities, which consisted of the following at December 31, 2018 and 2017 (in thousands):



	December 31,
	2018			2017
Furniture and equipment	$	42		$	30
Leasehold improvements	389			384
Computer and communications equipment	802			802
Total cost basis	1,233			1,216
Less accumulated depreciation and amortization	(840		)	(646		)
Property and equipment, net	$	393		$	570

Depreciation and amortization on REO and corporate property and equipment is computed on a straight-line basis over the estimated useful life of the related assets, which range from 5 to 40 years. Depreciation and amortization expense recorded for our depreciable assets totaled $0.9 million and $0.6 million for the years ended December 31, 2018 and 2017, respectively.