SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Summary of segment results

          Segment results for the three and nine months ended September 30, 2013 and 2012, are as follows (in thousands):

				Advisory Services
For the three months ended September 30, 2013	Portfolio			Real Estate Operating and Development			Advised Funds			Total
Rental income from operating leases	$	10,552		$	—		$	—		$	10,552
Advisory services income - related party		—			914			155			1,069
Total revenue		10,552			914			155			11,621
General and administrative		768			1,353			40			2,161
Property expense		3,294			—			—			3,294
Legal and professional		270			19			1			290
Real estate commissions		19			131			—			150
Acquisition costs		171			—			—			171
Depreciation and amortization		2,897			—			—			2,897
Total expenses		7,419			1,503			41			8,963
Interest expense		(2,335	)		—			—			(2,335	)
Other income/(expense)		223			22			(115	)		130
Income (loss) from continuing operations	$	1,021		$	(567	)	$	(1	)	$	453

				Advisory Services
For the three months ended September 30, 2012	Portfolio			Real Estate Operating and Development			Advised Funds			Total
Rental income from operating leases	$	9,020		$	—		$	—		$	9,020
Advisory services income - related party		—			802			155			957
Total revenue		9,020			802			155			9,977
General and administrative		701			1,042			30			1,773
Property expense		2,418			—			—			2,418
Legal and professional		195			26			2			223
Real estate commissions		—			129			—			129
Depreciation and amortization		2,210			—			—			2,210
Impairment recovery - notes receivable		(214	)		—			—			(214	)
Total expenses		5,310			1,197			32			6,539
Interest expense		(2,763	)		—			—			(2,763	)
Other income/(expense)		345			—			(26	)		319
Income (loss) from continuing operations	$	1,292		$	(395	)	$	97		$	994

				Advisory Services
For the nine months ended September 30, 2013	Portfolio			Real Estate Operating and Development			Advised Funds			Total
Rental income from operating leases	$	31,451		$	—		$	—		$	31,451
Advisory services income - related party		—			2,318			466			2,784
Total revenue		31,451			2,318			466			34,235
General and administrative		2,316			3,777			98			6,191
Property expense		9,137			—			—			9,137
Legal and professional		748			45			3			796
Real estate commissions		19			235			—			254
Acquisition costs		297			—			—			297
Depreciation and amortization		8,922			—			—			8,922
Total expenses		21,439			4,057			101			25,597
Interest expense		(7,095	)		—			—			(7,095	)
Other income/(expense)		8,389			24			(182	)		8,231
Income (loss) from continuing operations	$	11,306		$	(1,715	)	$	183		$	9,774

				Advisory Services
For the nine months ended September 30, 2012	Portfolio			Real Estate Operating and Development			Advised Funds			Total
Rental income from operating leases	$	26,826		$	—		$	—		$	26,826
Advisory services income - related party		—			2,507			466			2,973
Total revenue		26,826			2,507			466			29,799
General and administrative		1,671			3,084			81			4,836
Property expense		6,913			—			—			6,913
Legal and professional		601			65			3			669
Real estate commissions		1			267			—			268
Depreciation and amortization		6,545			—			—			6,545
Impairment recovery - notes receivable		(443	)		—			—			(443	)
Total expenses		15,288			3,416			84			18,788
Interest expense		(7,992	)		—			—			(7,992	)
Other income/(expense)		731			2			(127	)		606
Income (loss) from continuing operations	$	4,277		$	(907	)	$	255		$	3,625