8. DISCONTINUED OPERATIONS AND REAL ESTATE INTERESTS HELD FOR SALE (Tables)

3 Months Ended

Mar. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

Schedule of disposal group including discontinued operation

	For the three ended March 31,
	2013			2012
Revenues:
Rental and related revenue	$	171,000		$	459,000
Food and beverage sales		1,950,000			1,746,000
Marina revenue		382,000			412,000
Total revenue		2,503,000			2,617,000
Expenses:
Rental operating expenses		97,000			50,000
Food and beverage expenses		1,430,000			1,407,000
Marina expenses		178,000			214,000
Profession expenses		53,000			36,000
Interest expense		190,000			195,000
Depreciation, amortization and other expenses		199,000			250,000
Income attributable to noncontrolling Bayshore interest sold in 2013		212,000			—
Total expenses		2,359,000			2,152,000
Gain on sale of real estate interests		18,526,000			—
Provision for income taxes on gain on sale of real estate interests (Note 7)		(1,364,000	)		—
Income from discontinued operations	$	17,306,000		$	465,000

Schedule of major classes of assets and liabilities associated with the real estate interest held for sale

	March 31, 2013		December 31, 2012
Grove Isle Spa remaining interest	$	100,000	$	1,434,000
Grove Isle land, hotel, club building and marina		—		1,801,000
Grove Isle other assets		—		222,000
Bayshore Restaurant, marina and retail offices		—		7,822,000
Bayshore goodwill		—		5,629,000
Bayshore other receivables		—		206,000
Bayshore other assets		—		985,000
Assets associated with real estate interest held for sale	$	100,000	$	18,099,000
Grove Isle mortgage note payable	$	—	$	2,696,000
Grove Isle accrued and other liabilities		—		23,000
Bayshore mortgage note payable		—		8,190,000
Bayshore interest rate swap contract payable		—		1,965,000
Bayshore accrued and other liabilities		—		510,000
Obligations associated with real estate interest held for sale	$	—	$	13,384,000