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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenues    
Operating property revenue $ 6,647,000 $ 3,682,000
Mortgage loan income, net 2,588,000 944,000
Management fees, investment and other income 426,000 1,248,000
Total revenue 9,661,000 5,874,000
Operating Expenses    
Operating property direct expenses (exclusive of interest and depreciation) 9,024,000 4,309,000
Expenses for non-operating real estate owned 606,000 831,000
Professional fees 4,202,000 5,226,000
General and administrative expenses 8,816,000 8,958,000
Interest expense 3,122,000 2,073,000
Depreciation and amortization expense 1,195,000 395,000
Total operating expenses 26,965,000 21,792,000
Recovery of Credit Losses, Impairment, and Gain Disposal of Assets    
Gain on disposal of assets (3,938,000) (3,851,000)
Recovery of credit losses (1,968,000) (6,461,000)
Impairment of real estate owned 581,000 744,000
Unrealized loss on derivatives 218,000 0
Loss from unconsolidated subsidiaries 0 239,000
Total Recovery, Impairment Charges and Gain on Disposal of Assets (5,107,000) (9,329,000)
Total costs and expenses 21,858,000 12,463,000
Loss from continuing operations, before provision for income tax (12,197,000) (6,589,000)
Income tax benefit, continuing operations 0 1,963,000
Loss from continuing operations, net of tax (12,197,000) (4,626,000)
Net Income attributable to discontinued operations, net of tax 0 3,071,000
Net Loss (12,197,000) (1,555,000)
Net (income) loss attributable to non-controlling interests (1,144,000) 798,000
Cash dividends on Series B redeemable convertible preferred stock (2,548,000) (2,140,000)
Deemed dividend on Series B redeemable convertible preferred stock (3,493,000) (2,716,000)
Cash dividends on Series A redeemable preferred stock (1,188,000) 0
Net Loss attributable to common shareholders $ (20,570,000) $ (5,613,000)
Income (Loss) per Common Share    
Basic and diluted, continuing operations (in dollars per share) $ (1.23) $ (0.54)
Basic and diluted, discontinued operations (in dollars per share) 0.00 0.19
Net basic and diluted loss per share (in dollars per share) $ (1.23) $ (0.35)
Weighted average common shares outstanding - basic and diluted (in shares) 16,703,866 16,188,250