Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Segment Reporting) (Details)

v3.7.0.1
SEGMENT REPORTING (Segment Reporting) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Revenues      
Golf course operations $ 46,296 $ 48,597  
Sales of food and beverages 12,845 13,561  
Total revenues 59,141 62,158  
Operating costs      
Operating expenses 54,431 58,219  
Cost of sales - food and beverages 4,032 4,597  
General and administrative expense 1,911 2,761  
General and administrative expense - acquisition and transaction expenses 1,654 176  
Management fee to affiliate 2,677 2,675  
Depreciation and amortization 5,793 6,031  
Impairment 0 2,308  
Realized/unrealized loss on investments 3,389 2,007  
Total operating costs 73,887 78,774  
Operating loss (14,746) (16,616)  
Other income (expenses)      
Interest and investment income 7,888 21,039  
Interest expense (5,434) (13,534)  
Gain on deconsolidation 0 82,130  
Other (loss) income, net (123) 320  
Total other income (expenses) 2,331 89,955  
Income tax expense 539 44  
Net (Loss) Income (12,954) 73,295  
Preferred dividends (1,395) (1,395)  
Net loss attributable to noncontrolling interest 0 124  
(Loss) Income Applicable to Common Stockholders (14,349) 72,024  
Investments 687,407    
Cash and restricted cash 134,183    
Other assets 38,165    
Total Assets 859,755   $ 1,171,958
Debt, net 476,695    
Other liabilities 179,220    
Total Liabilities 655,915   953,891
Preferred stock 61,583   61,583
Noncontrolling interest 0   $ 0
Equity attributable to common stockholders 142,257    
Additions to investments in real estate during the three months ended March 31, 2017 3,634    
Traditional Golf | Operating Segments      
Revenues      
Golf course operations 46,296 48,597  
Sales of food and beverages 12,845 13,561  
Total revenues 59,141 62,158  
Operating costs      
Operating expenses 54,431 58,219  
Cost of sales - food and beverages 4,032 4,597  
General and administrative expense 700 839  
General and administrative expense - acquisition and transaction expenses 276 126  
Management fee to affiliate 0 0  
Depreciation and amortization 5,793 6,031  
Impairment   0  
Realized/unrealized loss on investments 120 1  
Total operating costs 65,352 69,813  
Operating loss (6,211) (7,655)  
Other income (expenses)      
Interest and investment income 39 42  
Interest expense (3,817) (2,665)  
Gain on deconsolidation   0  
Other (loss) income, net (624) (283)  
Total other income (expenses) (4,402) (2,906)  
Income tax expense 0 44  
Net (Loss) Income (10,613) (10,605)  
Preferred dividends 0 0  
Net loss attributable to noncontrolling interest   124  
(Loss) Income Applicable to Common Stockholders (10,613) (10,481)  
Investments 278,686    
Cash and restricted cash 13,681    
Other assets 34,427    
Total Assets 326,794    
Debt, net 114,851    
Other liabilities 167,342    
Total Liabilities 282,193    
Preferred stock 0    
Noncontrolling interest 0    
Equity attributable to common stockholders 44,601    
Additions to investments in real estate during the three months ended March 31, 2017 3,496    
Entertainment Golf | Operating Segments      
Revenues      
Golf course operations 0 0  
Sales of food and beverages 0 0  
Total revenues 0 0  
Operating costs      
Operating expenses 0 0  
Cost of sales - food and beverages 0 0  
General and administrative expense 65 2  
General and administrative expense - acquisition and transaction expenses 1,261 12  
Management fee to affiliate 0 0  
Depreciation and amortization 0 0  
Impairment   0  
Realized/unrealized loss on investments 0 0  
Total operating costs 1,326 14  
Operating loss (1,326) (14)  
Other income (expenses)      
Interest and investment income 0 0  
Interest expense 0 0  
Gain on deconsolidation   0  
Other (loss) income, net 0 0  
Total other income (expenses) 0 0  
Income tax expense 0 0  
Net (Loss) Income (1,326) (14)  
Preferred dividends 0 0  
Net loss attributable to noncontrolling interest   0  
(Loss) Income Applicable to Common Stockholders (1,326) (14)  
Investments 1,132    
Cash and restricted cash 1,254    
Other assets 2,136    
Total Assets 4,522    
Debt, net 0    
Other liabilities 1,578    
Total Liabilities 1,578    
Preferred stock 0    
Noncontrolling interest 0    
Equity attributable to common stockholders 2,944    
Additions to investments in real estate during the three months ended March 31, 2017 138    
Debt Investments      
Other income (expenses)      
Investments 407,589    
Debt Investments | Operating Segments      
Revenues      
Golf course operations 0 0  
Sales of food and beverages 0 0  
Total revenues 0 0  
Operating costs      
Operating expenses 0 0  
Cost of sales - food and beverages 0 0  
General and administrative expense 1 37  
General and administrative expense - acquisition and transaction expenses 0 0  
Management fee to affiliate 0 0  
Depreciation and amortization 0 0  
Impairment   2,308  
Realized/unrealized loss on investments 3,269 2,006  
Total operating costs 3,270 4,351  
Operating loss (3,270) (4,351)  
Other income (expenses)      
Interest and investment income 7,802 20,991  
Interest expense (1,206) (9,924)  
Gain on deconsolidation   82,130  
Other (loss) income, net 501 603  
Total other income (expenses) 7,097 93,800  
Income tax expense 0 0  
Net (Loss) Income 3,827 89,449  
Preferred dividends 0 0  
Net loss attributable to noncontrolling interest   0  
(Loss) Income Applicable to Common Stockholders 3,827 89,449  
Investments 407,589    
Cash and restricted cash 1,545    
Other assets 1,444    
Total Assets 410,578    
Debt, net 310,630    
Other liabilities 5,967    
Total Liabilities 316,597    
Preferred stock 0    
Noncontrolling interest 0    
Equity attributable to common stockholders 93,981    
Additions to investments in real estate during the three months ended March 31, 2017 0    
Corporate | Operating Segments      
Revenues      
Golf course operations 0 0  
Sales of food and beverages 0 0  
Total revenues 0 0  
Operating costs      
Operating expenses 0 0  
Cost of sales - food and beverages 0 0  
General and administrative expense 1,145 1,883  
General and administrative expense - acquisition and transaction expenses 117 38  
Management fee to affiliate 2,677 2,675  
Depreciation and amortization 0 0  
Impairment   0  
Realized/unrealized loss on investments 0 0  
Total operating costs 3,939 4,596  
Operating loss (3,939) (4,596)  
Other income (expenses)      
Interest and investment income 47 6  
Interest expense (411) (945)  
Gain on deconsolidation   0  
Other (loss) income, net 0 0  
Total other income (expenses) (364) (939)  
Income tax expense 539 0  
Net (Loss) Income (4,842) (5,535)  
Preferred dividends (1,395) (1,395)  
Net loss attributable to noncontrolling interest   0  
(Loss) Income Applicable to Common Stockholders (6,237) $ (6,930)  
Investments 0    
Cash and restricted cash 117,703    
Other assets 158    
Total Assets 117,861    
Debt, net 51,214    
Other liabilities 4,333    
Total Liabilities 55,547    
Preferred stock 61,583    
Noncontrolling interest 0    
Equity attributable to common stockholders 731    
Additions to investments in real estate during the three months ended March 31, 2017 $ 0