SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Summary of segment results

Segment results for the three and six months ended June 30, 2014 and 2013 are as follows (in thousands):

				Advisory Services
Three months ended June 30, 2014	Portfolio			Real Estate Operating and Development			Advised Funds		Total
Rental income from operating leases	$	11,672		$	—		$	—	$	11,672
Advisory services income - related party		—			677			192		869
Total revenue		11,672			677			192		12,541
General and administrative		780			1,175			50		2,005
Property expense		3,459			—			—		3,459
Legal and professional		311			4			—		315
Real estate commissions		—			74			—		74
Acquisition fees		224			—			—		224
Depreciation and amortization		3,090			—			—		3,090
Total expenses		7,864			1,253			50		9,167
Interest expense		(2,484	)		—			—		(2,484	)
Other income		64			—			176		240
Income (loss) from continuing operations	$	1,388		$	(576	)	$	318	$	1,130

				Advisory Services
Three months ended June 30, 2013	Portfolio			Real Estate Operating and Development			Advised Funds		Total
Rental income from operating leases	$	9,863		$	—		$	—	$	9,863
Advisory services income - related party		—			717			155		872
Total revenue		9,863			717			155		10,735
General and administrative		783			1,254			32		2,069
Property expense		2,660			—			—		2,660
Legal and professional		242			15			1		258
Real estate commissions		—			52			—		52
Acquisition costs		126			—			—		126
Depreciation and amortization		2,732			—			—		2,732
Total expenses		6,543			1,321			33		7,897
Interest expense		(2,267	)		—			—		(2,267	)
Other income		300			2			80		382
Income (loss) from continuing operations	$	1,353		$	(602	)	$	202	$	953

				Advisory Services
Six months ended June 30, 2014	Portfolio			Real Estate Operating and Development			Advised Funds		Total
Rental income from operating leases	$	23,567		$	—		$	—	$	23,567
Advisory services income - related party		—			1,232			383		1,615
Real estate fee income		100			—			—		100
Total revenue		23,667			1,232			383		25,282
General and administrative		1,705			2,314			94		4,113
Property expense		7,188			—			—		7,188
Legal and professional		677			18			—		695
Real estate commissions		6			123			—		129
Acquisition fees		224			—			—		224
Depreciation and amortization		6,216			—			—		6,216
Total expenses		16,016			2,455			94		18,565
Interest expense		(4,951	)		—			—		(4,951	)
Other income		173			—			363		536
Income (loss) from continuing operations	$	2,873		$	(1,223	)	$	652	$	2,302

				Advisory Services
Six months ended June 30, 2013	Portfolio			Real Estate Operating and Development			Advised Funds			Total
Rental income from operating leases	$	20,786		$	—		$	113		$	20,899
Advisory services income - related party		—			1,404			311			1,715
Total revenue		20,786			1,404			424			22,614
General and administrative		1,548			2,424			58			4,030
Property expense		5,843			—			—			5,843
Legal and professional		479			25			2			506
Real estate commissions		1			103			—			104
Acquisition costs		126			—			—			126
Depreciation and amortization		6,025			—			—			6,025
Total expenses		14,022			2,552			60			16,634
Interest expense		(4,760	)		—			—			(4,760	)
Other income		8,166			2			(67	)		8,101
Income (loss) from continuing operations	$	10,170		$	(1,146	)	$	297		$	9,321