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Real Estate Investments
3 Months Ended
Mar. 31, 2014
Real Estate Investments, Net [Abstract]  
REAL ESTATE INVESTMENTS
Real Estate Investments
The major components of real estate investments as of March 31, 2014 and December 31, 2013 are as follows: 
 
March 31,
2014
 
December 31,
2013
Land
$
17,297

 
18,892

Buildings and improvements
56,157

 
59,256

Intangibles
329

 
329

Subtotal
73,783

 
78,477

Less: accumulated depreciation and amortization
10,410

 
10,658

Total
$
63,373

 
67,819


Depreciation and amortization is computed using the straight-line method over the estimated service life of the respective assets, ranging from 5 to 39 years.
During the first quarter 2014, management listed for sale its retail building located in El Paso, Texas. As a result, the Company reclassified the Texas property from held-and-used to held-for-sale at March 31, 2014. The Company determined that reclassifying the Texas property as held-for-sale represents a change in circumstances in the intended use of such facility and reviewed the asset for impairment. The Company performed a recoverability test of estimated sale proceeds less cost to sell from the property in accordance with FASB ASC Topic 360 - “Property, Plant and Equipment.” As a result of this recoverability test, the Company determined that the carrying value was recoverable and no impairment exists.
The Texas retail building is included in the Company's “Real Estate Services” reportable segment as disclosed in Note 5. Prior to classification as held-for-sale, depreciation expense on the building was $20 for the three months ended March 31, 2014. The following represents the major components of the Texas retail building recorded in long-lived assets held-for-sale on the Company's condensed consolidated balance sheets as of March 31, 2014:
 
March 31, 2014
Land
$
1,595

Buildings and improvements
3,099

Subtotal
4,694

Less: accumulated depreciation and amortization
666

Total
$
4,028