XML 52 R42.htm IDEA: XBRL DOCUMENT v3.19.2
NOTES PAYABLE AND SPECIAL ASSESSMENT OBLIGATIONS (Details Textual) - USD ($)
$ / shares in Units, $ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Oct. 02, 2017
Oct. 31, 2017
Apr. 30, 2014
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Debt Instrument [Line Items]                
Interest expense       $ 300 $ 800 $ 791 $ 1,525  
Noncash interest costs capitalized to operating property           760 0  
Debt       49,258   49,258    
Unamortized discount       346   346    
Debt discount amortization           259 $ 446  
Exchange Offering                
Debt Instrument [Line Items]                
Maturity term     5 years          
Stated interest rate     4.00%          
Debt offered In exchange for common stock shares exchange price per share     $ 8.02          
Exchange Offering Notes                
Debt Instrument [Line Items]                
Debt amount     $ 10,200          
Stated interest rate     4.00%          
Effective rate (percentage)     14.60%          
Notes payable, fair value disclosure     $ 6,400          
Unamortized discount     $ 3,800          
Debt discount amortization           300    
MacArthur Loan                
Debt Instrument [Line Items]                
Noncash interest costs capitalized to operating property       300   $ 800    
Proceeds from issuance of debt   $ 32,300           $ 11,900
Interest rate reduction, other conditions 0.50%              
Debt instrument, term           3 years    
Number of extensions available for loans acquired           2    
Maturity term           1 year    
Extension fee 0.35%              
Deferred financing fees               500
LIBOR | MacArthur Loan                
Debt Instrument [Line Items]                
Annual interest rate           2.40%    
Variable rate 3.54%              
Hotel | MacArthur Loan                
Debt Instrument [Line Items]                
Debt amount       37,000   $ 37,000    
Renovation Cost | MacArthur Loan                
Debt Instrument [Line Items]                
Proceeds from issuance of debt               11,200
Interest Reserve | MacArthur Loan                
Debt Instrument [Line Items]                
Proceeds from issuance of debt               800
MacArthur Place | Hotel | MacArthur Loan                
Debt Instrument [Line Items]                
Proceeds from issuance of debt   $ 19,400            
Covenant compliance, reserve accounts       2,000   2,000    
Repayment guaranty 50.00% 50.00%            
Required minimum net worth   $ 50,000            
Required minimum liquidity   5,000   37,000   37,000    
MacArthur Place | Hotel Improvements | MacArthur Loan                
Debt Instrument [Line Items]                
Proceeds from issuance of debt   10,000            
Continuing Operations                
Debt Instrument [Line Items]                
Debt       49,604   49,604   36,598
Deferred financing fees       346   346   284
Continuing Operations | MacArthur Loan | Secured Debt                
Debt Instrument [Line Items]                
Debt       32,600   32,600   $ 20,700
Commitment To Fund Equity | Hotel | MacArthur Loan                
Debt Instrument [Line Items]                
Commitment to provide funds   $ 27,700   $ 27,700   $ 27,700    
Mortgage Receivable | Mezzanine Loan One                
Debt Instrument [Line Items]                
Pledged equity interest, collateral percent       100.00%        
JPMorgan Chase Funding Inc.                
Debt Instrument [Line Items]                
Variable rate           3.81%    
Mortgage loans in process of foreclosure, notes purchased       $ 13,200   $ 13,200    
Loan from JPM Chase Funding, Inc., (a related party) for purchase first mortgage on operating property       11,000        
JPMorgan Chase Funding Inc. | Secured Debt                
Debt Instrument [Line Items]                
Debt amount       11,000   11,000    
Debt       $ 13,200   $ 13,200    
JPMorgan Chase Funding Inc. | LIBOR | Secured Debt                
Debt Instrument [Line Items]                
Variable rate           3.81%