Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN OTHER REAL ESTATE, NET OF ACCUMULATED DEPRECIATION (Tables)

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INVESTMENTS IN OTHER REAL ESTATE, NET OF ACCUMULATED DEPRECIATION (Tables)
 6 Months Ended
Jun. 30, 2015
Real Estate [Abstract]  
Schedule of investments in real estate related to its Golf business
The following table summarizes Newcastle’s investments in real estate related to its Golf business:
 
 
June 30, 2015
 
December 31, 2014
 
Gross Carrying Amount
 
Accumulated Depreciation
 
Net Carrying Value
 
Gross Carrying Amount
 
Accumulated Depreciation
 
Net Carrying Value
Golf
 
 
 
 
 
 
 
 
 
 
 
Land
$
90,324

 
$
—

 
$
90,324

 
$
90,324

 
$
—

 
$
90,324

Buildings and improvements
141,256

 
(21,891
)
 
119,365

 
139,949

 
(17,729
)
 
122,220

Furniture, fixtures and equipment
24,534

 
(12,818
)
 
11,716

 
23,621

 
(5,544
)
 
18,077

Capital leases - equipment
8,929

 
(989
)
 
7,940

 
6,528

 
(547
)
 
5,981

Construction in progress
1,923

 
—

 
1,923

 
2,681

 
—

 
2,681

Investments in Other Real Estate
$
266,966

 
$
(35,698
)
 
$
231,268

 
$
263,103

 
$
(23,820
)
 
$
239,283

 
 
 
 
 
 
 
 
 
 
 
 

In March 2015, Golf entered into a lease for a 27-hole municipal golf property owned by Los Angeles County, California. The lease is for a term of 21 years and encompasses the golf course, a driving range, food and beverage facilities and a pro shop.