The InterGroup Corporation (INTG) 10-Q 3 May 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2019	May 02, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	INTERGROUP CORP
Entity Central Index Key	0000069422
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Trading Symbol	INTG
Entity Common Stock, Shares Outstanding		2,327,362
Entity Emerging Growth Company	false
Entity Small Business	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2019	Jun. 30, 2018
ASSETS
Investment in hotel, net	$ 39,721,000	$ 40,961,000
Investment in real estate, net	52,120,000	53,369,000
Investment in marketable securities	10,834,000	13,841,000
Other investments, net	612,000	813,000
Cash and cash equivalents	11,484,000	8,053,000
Restricted cash	9,870,000	9,458,000
Other assets, net	2,630,000	5,185,000
Total assets	127,271,000	131,680,000
Liabilities:
Accounts payable and other liabilities	2,689,000	3,299,000
Accounts payable and other liabilities - Hotel	7,816,000	9,946,000
Due to securities broker	2,024,000	1,887,000
Obligations for securities sold	704,000	1,935,000
Related party and other notes payable	5,416,000	5,735,000
Capital leases	1,256,000	1,355,000
Line of credit payable	2,985,000	0
Mortgage notes payable - Hotel, net	113,538,000	114,372,000
Mortgage notes payable - real estate, net	58,938,000	62,873,000
Deferred tax liability	1,016,000	245,000
Total liabilities	196,382,000	201,647,000
Shareholders' deficit:
Preferred stock, $.01 par value, 100,000 shares authorized; none issued	0	0
Common stock, $.01 par value, 4,000,000 shares authorized; 3,404,982 and 3,395,616 issued; 2,327,362 and 2,334,197 outstanding, respectively	33,000	33,000
Additional paid-in capital	10,559,000	10,522,000
Accumulated deficit	(40,563,000)	(41,217,000)
Treasury stock, at cost, 1,077,620 and 1,061,419 shares, respectively	(13,806,000)	(13,268,000)
Total InterGroup shareholders' deficit	(43,777,000)	(43,930,000)
Noncontrolling interest	(25,334,000)	(26,037,000)
Total shareholders' deficit	(69,111,000)	(69,967,000)
Total liabilities and shareholders' equity	$ 127,271,000	$ 131,680,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Mar. 31, 2019	Jun. 30, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000	100,000
Preferred stock , shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	4,000,000	4,000,000
Common stock, shares issued	3,404,982	3,395,616
Common stock, shares outstanding	2,327,362	2,334,197
Treasury stock, shares	1,077,620	1,061,419

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Total revenues	$ 19,213,000	$ 17,972,000	$ 56,451,000	$ 52,898,000
Costs and operating expenses:
Hotel operating expenses	(11,378,000)	(10,573,000)	(33,424,000)	(31,905,000)
Real estate operating expenses	(2,051,000)	(1,843,000)	(5,929,000)	(5,840,000)
Depreciation and amortization expenses	(1,218,000)	(1,260,000)	(3,710,000)	(3,801,000)
General and administrative expenses	(667,000)	(828,000)	(1,789,000)	(2,389,000)
Total costs and operating expenses	(15,314,000)	(14,504,000)	(44,852,000)	(43,935,000)
Income from operations	3,899,000	3,468,000	11,599,000	8,963,000
Other income (expense):
Interest expense - mortgages	(2,410,000)	(2,360,000)	(7,380,000)	(7,343,000)
Loss on disposal of assets	(398,000)	0	(398,000)	0
Net (loss) gain on marketable securities	681,000	636,000	(999,000)	1,190,000
Net gain (loss) on marketable securities - Comstock	280,000	(744,000)	(182,000)	(3,498,000)
Unrealized loss on other investments	0	(42,000)	0	(42,000)
Impairment loss on other investments	(98,000)	0	(98,000)	(200,000)
Dividend and interest income	194,000	92,000	379,000	223,000
Trading and margin interest expense	(312,000)	(260,000)	(809,000)	(886,000)
Total other expense, net	(2,063,000)	(2,678,000)	(9,487,000)	(10,556,000)
Income (loss) before income taxes	1,836,000	790,000	2,112,000	(1,593,000)
Income tax expense	(501,000)	(11,000)	(771,000)	(430,000)
Net income (loss)	1,335,000	779,000	1,341,000	(2,023,000)
Less: Net (income) loss attributable to the noncontrolling interest	(284,000)	(251,000)	(687,000)	934,000
Net income (loss) attributable to InterGroup Corporation	$ 1,051,000	$ 528,000	$ 654,000	$ (1,089,000)
Net income (loss) per share
Basic	$ 0.57	$ 0.33	$ 0.58	$ (0.86)
Diluted	0.50	0.29	0.50
Net income (loss) per share attributable to InterGroup Corporation
Basic	0.45	0.22	0.28	$ (0.46)
Diluted	$ 0.40	$ 0.20	$ 0.25
Weighted average number of basic common shares outstanding	2,329,207	2,353,073	2,329,883	2,357,289
Weighted average number of diluted common shares outstanding	2,659,602	2,671,073	2,660,278
Hotel [Member]
Revenues:
Total revenues	$ 15,469,000	$ 14,344,000	$ 45,276,000	$ 41,968,000
Real Estate [Member]
Revenues:
Total revenues	$ 3,744,000	$ 3,628,000	$ 11,175,000	$ 10,930,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' DEFICIT - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	InterGroup Shareholders' Deficit [Member]	Noncontrolling Interest [Member]
Beginning Balance at Jun. 30, 2017	$ (75,318,000)	$ 33,000	$ 10,346,000	$ (45,298,000)	$ (12,626,000)	$ (47,545,000)	$ (27,773,000)
Beginning Balance (in shares) at Jun. 30, 2017		3,395,616
Net (loss) Income	(295,000)	$ 0	0	(412,000)	0	(412,000)	117,000
Stock options expense	62,000	0	62,000	0	0	62,000	0
Ending Balance at Sep. 30, 2017	(75,551,000)	$ 33,000	10,408,000	(45,710,000)	(12,626,000)	(47,895,000)	(27,656,000)
Ending Balance (in shares) at Sep. 30, 2017		3,395,616
Beginning Balance at Jun. 30, 2017	(75,318,000)	$ 33,000	10,346,000	(45,298,000)	(12,626,000)	(47,545,000)	(27,773,000)
Beginning Balance (in shares) at Jun. 30, 2017		3,395,616
Net (loss) Income	(2,023,000)
Ending Balance at Mar. 31, 2018	(77,412,000)	$ 33,000	10,499,000	(46,387,000)	(12,850,000)	(48,705,000)	(28,707,000)
Ending Balance (in shares) at Mar. 31, 2018		3,395,616
Beginning Balance at Sep. 30, 2017	(75,551,000)	$ 33,000	10,408,000	(45,710,000)	(12,626,000)	(47,895,000)	(27,656,000)
Beginning Balance (in shares) at Sep. 30, 2017		3,395,616
Net (loss) Income	(2,507,000)	$ 0	0	(1,205,000)	0	(1,205,000)	(1,302,000)
Stock options expense	60,000	0	60,000	0	0	60,000	0
Purchase of treasury stock	(109,000)	0	0	0	(109,000)	(109,000)	0
Ending Balance at Dec. 31, 2017	(78,107,000)	$ 33,000	10,468,000	(46,915,000)	(12,735,000)	(49,149,000)	(28,958,000)
Ending Balance (in shares) at Dec. 31, 2017		3,395,616
Net (loss) Income	779,000	$ 0	0	528,000	0	528,000	251,000
Stock options expense	31,000		31,000			31,000
Purchase of treasury stock	(115,000)	0	0	0	(115,000)	(115,000)	0
Ending Balance at Mar. 31, 2018	(77,412,000)	$ 33,000	10,499,000	(46,387,000)	(12,850,000)	(48,705,000)	(28,707,000)
Ending Balance (in shares) at Mar. 31, 2018		3,395,616
Beginning Balance at Jun. 30, 2018	(69,967,000)	$ 33,000	10,522,000	(41,217,000)	(13,268,000)	(43,930,000)	(26,037,000)
Beginning Balance (in shares) at Jun. 30, 2018		3,395,616
Net (loss) Income	1,128,000	$ 0	0	630,000	0	630,000	498,000
Stock options expense	30,000	0	30,000	0	0	30,000	0
Purchase of treasury stock	(198,000)	0	0	0	(198,000)	(198,000)	0
Ending Balance at Sep. 30, 2018	(69,007,000)	$ 33,000	10,552,000	(40,587,000)	(13,466,000)	(43,468,000)	(25,539,000)
Ending Balance (in shares) at Sep. 30, 2018		3,395,616
Beginning Balance at Jun. 30, 2018	(69,967,000)	$ 33,000	10,522,000	(41,217,000)	(13,268,000)	(43,930,000)	(26,037,000)
Beginning Balance (in shares) at Jun. 30, 2018		3,395,616
Net (loss) Income	1,341,000
Ending Balance at Mar. 31, 2019	(69,111,000)	$ 33,000	10,559,000	(40,563,000)	(13,806,000)	(43,777,000)	(25,334,000)
Ending Balance (in shares) at Mar. 31, 2019		3,404,982
Beginning Balance at Sep. 30, 2018	(69,007,000)	$ 33,000	10,552,000	(40,587,000)	(13,466,000)	(43,468,000)	(25,539,000)
Beginning Balance (in shares) at Sep. 30, 2018		3,395,616
Issuance of stock for compensation	0	$ 0	0	0	0	0	0
Issuance of stock for compensation (in shares)		9,366
Net (loss) Income	(1,122,000)	$ 0	0	(1,027,000)	0	(1,027,000)	(95,000)
Stock options expense	29,000	0	29,000	0	0	29,000	0
Investment in Santa Fe	(15,000)	0	(31,000)	0	0	(31,000)	16,000
Purchase of treasury stock	(266,000)	0	0	0	(266,000)	(266,000)	0
Ending Balance at Dec. 31, 2018	(70,381,000)	$ 33,000	10,550,000	(41,614,000)	(13,732,000)	(44,763,000)	(25,618,000)
Ending Balance (in shares) at Dec. 31, 2018		3,404,982
Net (loss) Income	1,335,000	$ 0	0	1,051,000	0	1,051,000	284,000
Stock options expense	9,000	0	9,000	0	0	9,000	0
Purchase of treasury stock	(74,000)	0	0	0	(74,000)	(74,000)	0
Ending Balance at Mar. 31, 2019	$ (69,111,000)	$ 33,000	$ 10,559,000	$ (40,563,000)	$ (13,806,000)	$ (43,777,000)	$ (25,334,000)
Ending Balance (in shares) at Mar. 31, 2019		3,404,982

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 1,341,000	$ (2,023,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	3,626,000	3,840,000
Loss on disposal of assets	398,000	0
Deferred taxes	771,000	430,000
Net unrealized loss on marketable securities	1,534,000	2,723,000
Unrealized loss on other investments	0	42,000
Impairment loss on other investments	98,000	200,000
Stock compensation expense	68,000	153,000
Changes in operating assets and liabilities:
Investment in marketable securities	1,473,000	5,012,000
Other assets	2,555,000	789,000
Accounts payable and other liabilities	(2,740,000)	(916,000)
Due to securities broker	137,000	(2,592,000)
Obligations for securities sold	(1,231,000)	(2,826,000)
Net cash provided by operating activities	8,030,000	4,832,000
Cash flows from investing activities:
Payments for hotel investments	(982,000)	(192,000)
Payments for real estate investments	(566,000)	(722,000)
Payments for investment in Santa Fe	(15,000)	0
Proceeds from other investments	103,000	76,000
Net cash used in investing activities	(1,460,000)	(838,000)
Cash flows from financing activities:
Net payments of mortgage and other notes payable	(5,174,000)	(2,336,000)
Proceeds from line of credit	2,985,000	0
Purchase of treasury stock	(538,000)	(224,000)
Net cash used in financing activities	(2,727,000)	(2,560,000)
Net increase in cash, cash equivalents and restricted cash	3,843,000	1,434,000
Cash, cash equivalents and restricted cash at the beginning of the period	17,511,000	10,273,000
Cash, cash equivalents and restricted cash at the end of the period	21,354,000	11,707,000
Supplemental information:
Interest paid	7,542,000	7,835,000
Taxes (refund received) paid	(1,349,000)	73,000
Non-cash transaction:
Additions to Hotel equipment through capital lease	$ 71,000	$ 0

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The condensed consolidated financial statements included herein have been prepared by The InterGroup Corporation (“InterGroup” or the “Company”), without audit, according to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the condensed consolidated financial statements prepared in accordance with generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations, although the Company believes the disclosures that are made are adequate to make the information presented not misleading. Further, the condensed consolidated financial statements reflect, in the opinion of management, all adjustments (which included only normal recurring adjustments) necessary for a fair statement of the financial position, cash flows and results of operations as of and for the periods indicated. It is suggested that these financial statements be read in conjunction with the audited financial statements of InterGroup and the notes therein included in the Company's Annual Report on Form 10-K for the year ended June 30, 2018. The March 31, 2019 Condensed Consolidated Balance Sheet was derived from the Consolidated Balance Sheet as included in the Company’s Form 10-K for the year ended June 30, 2018. The results of operations for the nine months ended March 31, 2019 are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2019. Basic and diluted income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding. The computation of diluted income per share is similar to the computation of basic earnings per share except that the weighted-average number of common shares is increased to include the number of additional common shares that would have been outstanding if potential dilutive common shares had been issued. The Company's only potentially dilutive common shares are stock options. As of March 31, 2019, the Company had the power to vote 85.9% of the voting shares of Santa Fe Financial Corporation (“Santa Fe”), a public company (OTCBB: SFEF). This percentage includes the power to vote an approximately 4% interest in the common stock in Santa Fe owned by the Company’s Chairman and President pursuant to a voting trust agreement entered into on June 30, 1998. Santa Fe’s primary business is conducted through the management of its 68.8% owned subsidiary, Portsmouth Square, Inc. (“Portsmouth”), a public company (OTCBB: PRSI). Portsmouth’s primary business is conducted through its general and limited partnership interest in Justice Investors Limited Partnership; a California limited partnership (“Justice” or the “Partnership”). InterGroup also directly owns approximately 13.4% of the common stock of Portsmouth. Justice, through its subsidiaries Justice Operating Company, LLC (“Operating”), Justice Mezzanine Company, LLC (“Mezzanine”) and Kearny Street Parking, LLC (“Parking”) owns a 544-room hotel property located at 750 Kearny Street, San Francisco California, known as the Hilton San Francisco Financial District (the “Hotel”) and related facilities including a five-level underground parking garage. Mezzanine and Parking are both wholly-owned subsidiaries of the Partnership; Operating is a wholly-owned subsidiary of Mezzanine. Mezzanine is the borrower under certain mezzanine indebtedness of Justice, and in December 2013, the Partnership conveyed ownership of the Hotel to Operating. The Hotel is operated by the partnership as a full-service Hilton brand hotel pursuant to a Franchise License Agreement with HLT Franchise Holding LLC (Hilton) through January 31, 2030. Justice entered into a Hotel management agreement (“HMA”) with Interstate Management Company, LLC (“Interstate”) to manage the Hotel with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of ten years commencing on the takeover date and automatically renews for successive one (1) year periods, to not exceed five years in the aggregate, subject to certain conditions. Under the terms on the HMA, base management fee payable to Interstate shall be one and seven-tenths percent (1.70%) of total Hotel revenue. The Company began managing the parking garage that is part of the Hotel in-house in 2016. Effective February 3, 2017, Interstate took over the management of the parking garage along with the Hotel. In addition to the operations of the Hotel, the Company also generates income from the ownership, management and, when appropriate, sale of real estate. Properties include sixteen apartment complexes, one commercial real estate property and three single-family houses. The properties are located throughout the United States, but are concentrated in Dallas, Texas and Southern California. The Company also has an investment in unimproved real property. As of March 31, 2019, all of the Company’s residential and commercial rental properties are managed in-house. Due to Securities Broker Various securities brokers have advanced funds to the Company for the purchase of marketable securities under standard margin agreements. These advanced funds are recorded as a liability. Obligations for Securities Sold Obligation for securities sold represents the fair market value of shares sold with the promise to deliver that security at some future date and the fair market value of shares underlying the written call options with the obligation to deliver that security when and if the option is exercised. The obligation may be satisfied with current holdings of the same security or by subsequent purchases of that security. Unrealized gains and losses from changes in the obligation are included in the condensed consolidated statements of operations. Income Tax The Company consolidates Justice (“Hotel”) for financial reporting purposes and is not taxed on its non-controlling interest in the Hotel. The income tax expense during the nine months ended March 31, 2019 and 2018 represents primarily the income tax effect of the pretax loss at InterGroup and the pretax income of Portsmouth which includes its share in net income of the Hotel. For the nine months ended March 31, 2018, a provisional net charge of $879,000 was included in the income tax expense as a result of reducing our deferred tax asset to the lower federal base rate of 21%. Financial Condition and Liquidity The Company’s cash flows are primarily generated from the ownership and management of real estate. To fund the redemption of limited partnership interests and to repay the prior mortgage of $42,940,000, Justice obtained a $97,000,000 mortgage loan and a $20,000,000 mezzanine loan. The mortgage loan is secured by the Partnership’s principal asset, the Hotel. The mortgage loan bears an interest rate of 5.275% per annum with interest only payments due through January 2017. Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024. Outstanding principal balance on the loan was $94,090,000 and $95,018,000 as of March 31, 2019 and June 30, 2018, respectively. As additional security for the mortgage loan, there is a limited guaranty executed by Portsmouth in favor of the mortgage lender. The mezzanine loan is secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The mezzanine interest only loan bears interest at 9.75% per annum and matures in January 2024. As additional security for the mezzanine loan, there is a limited guaranty executed by Portsmouth in favor of the mezzanine lender. Effective as of May 11, 2017, InterGroup agreed to become an additional guarantor under the limited guaranty and an additional indemnitor under the environmental indemnity for Justice Investors limited partnership’s $97,000,000 mortgage loan and the $20,000,000 mezzanine loan. Pursuant to the agreement, InterGroup is required to maintain a certain net worth and liquidity. As of March 31, 2019, InterGroup is in compliance with both requirements. In July 2018, InterGroup obtained a revolving $5,000,000 line of credit (“RLOC”). On July 31, 2018, $2,969,000 was drawn from the RLOC to pay off the mortgage note payable at Intergroup Woodland Village, Inc. (“Woodland Village”) and a new mortgage note payable was established at Woodland Village due to InterGroup for the amount drawn. Woodland Village holds a three-story apartment complex in Los Angeles, California and is 55.4% and 44.6% owned by Santa Fe and the Company, respectively. The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. The RLOC and all accrued and unpaid interest are due in July 2019. The $2,969,000 mortgage due to InterGroup carries same terms as InterGroup’s RLOC. On August 31, 2018, $1,005,000 was drawn from the RLOC to pay off a mortgage note payable on a single-family house located in Los Angeles, California. On September 28, 2018, the Company obtained a new mortgage in the amount of $1,000,000 on the same property. The interest rate on the new loan is fixed at 4.75% per annum for the first five years and variable for the remaining of the term. The note matures in October 2048. Net proceeds of $995,000 received as a result of the refinance was used to pay down the RLOC. The Hotel has continued to generate positive operating income. While the debt service requirements related to the loans may create some additional risk for the Company and its ability to generate cash flows in the future, management believes that cash flows from the operations of the Hotel and the garage will continue to be sufficient to meet all of the Partnership’s current and future obligations and financial requirements. The Company has invested in short-term, income-producing instruments and in equity and debt securities when deemed appropriate. The Company's marketable securities are classified as trading with unrealized gains and losses recorded through the consolidated statements of operations. Management believes that its cash, marketable securities, and the cash flows generated from its real estate assets, will be adequate to meet the Company’s current and future obligations. Additionally, management believes there is significant appreciated value in the Hotel property to support additional borrowings, if necessary. The following table provides a summary as of March 31, 2019, the Company’s material financial obligations which also including interest payments. 3 Months Year Year Year Year Total 2019 2020 2021 2022 2023 Thereafter Mortgage and subordinated notes payable $ 173,320,000 $ 856,000 $ 3,061,000 $ 12,490,000 $ 3,102,000 $ 37,820,000 $ 115,991,000 Other notes payable 9,657,000 396,000 3,934,000 930,000 946,000 655,000 2,796,000 Interest 43,675,000 3,125,000 9,528,000 9,136,000 8,646,000 7,636,000 5,604,000 Total $ 226,652,000 $ 4,377,000 $ 16,523,000 $ 22,556,000 $ 12,694,000 $ 46,111,000 $ 124,391,000 Recently Issued and Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-18, Restricted Cash. ASU 2016-18 requires companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Additionally, ASU 2016-18 requires a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. ASU 2016-18 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. The Company adopted ASU 2018-16 effective July 1, 2018. The adoption of ASU 2016-18 impacted the presentation of cash flows with inclusion of restricted cash flows for each of the presented periods. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08) which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The new standard permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). We applied the modified retrospective transition method to all contracts upon the adoption of ASU 2014-09 effective July 1, 2018. We provided the additional required disclosures, but the cumulative adjustment from our comparative periods was zero in our condensed consolidated financial statements. See Note 2. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02), which supersedes existing guidance on accounting for leases in Leases (Topic 840) and generally requires all leases, including operating leases, to be recognized in the statement of financial position as right-of-use assets and lease liabilities by lessees. The provisions of ASU 2016-02 are to be applied using a modified retrospective approach and are effective for reporting periods beginning after December 15, 2018; early adoption is permitted. We intend to adopt the standard on July 1, 2019. The Company is currently reviewing the effect of ASU No. 2016-02. On June 16, 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This ASU modifies the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the timelier recognition of losses. ASU No. 2016-13 will be effective for us as of January 1, 2020. The Company is currently reviewing the effect of ASU No. 2016-13.

REVENUE

REVENUE	9 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	NOTE 2 – REVENUE On July 1, 2018, we adopted ASC 606, Revenue from Contracts with Customers, as described in Note 1, using the modified retrospective approach to all contracts resulting in no cumulative adjustment to accumulated deficit. The adoption of this standard did not impact the timing of our revenue recognition based on the short-term, day-to-day nature of our operations. The following table present our hotel revenues disaggregated by revenue streams. Revenues from real estate are not affected by the new guidance. For the three months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 13,521,000 $ 11,714,000 Food and beverage 1,218,000 1,748,000 Garage 652,000 756,000 Other operating departments 78,000 126,000 Total hotel revenue $ 15,469,000 $ 14,344,000 For the nine months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 38,608,000 $ 34,266,000 Food and beverage 4,232,000 5,121,000 Garage 2,160,000 2,272,000 Other operating departments 276,000 309,000 Total hotel revenue $ 45,276,000 $ 41,968,000 Performance obligations We identified the following performance obligations, for which revenue is recognized as the respective performance obligations are satisfied, which results in recognizing the amount we expect to be entitled to for providing the goods or services: • Cancelable room reservations or ancillary services are typically satisfied as the good or service is transferred to the hotel guest, which is generally when the room stay occurs. • Noncancelable room reservations and banquet or conference reservations represent a series of distinct goods or services provided over time and satisfied as each distinct good or service is provided, which is reflected by the duration of the room reservation. • Other ancillary goods and services are purchased independently of the room reservation at standalone selling prices and are considered separate performance obligations, which are satisfied when the related good or service is provided to the hotel guest. • Components of package reservations for which each component could be sold separately to other hotel guests are considered separate performance obligations and are satisfied as set forth above. Hotel revenue primarily consists of hotel room rentals, revenue from accommodations sold in conjunction with other services (e.g., package reservations), food and beverage sales and other ancillary goods and services (e.g., parking). Revenue is recognized when rooms are occupied or goods and services have been delivered or rendered, respectively. Payment terms typically align with when the goods and services are provided. For package reservations, the transaction price is allocated to the performance obligations within the package based on the estimated standalone selling prices of each component. We do not disclose the value of unsatisfied performance obligations for contracts with an expected length of one year or less. Due to the nature of our business, our revenue is not significantly impacted by refunds. Cash payments received in advance of guests staying at our hotel are refunded to hotel guests if the guest cancels within the specified time period, before any services are rendered. Refunds related to service are generally recognized as an adjustment to the transaction price at the time the hotel stay occurs or services are rendered. Contract assets and liabilities We do not have any material contract assets as of March 31, 2019 and June 30, 2018 other than trade and other receivables, net on our Condensed Consolidated Balance Sheet. Our receivables are primarily the result of contracts with customers, which are reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. We record contract liabilities when cash payments are received or due in advance of guests staying at our hotel, which are presented within accounts payable and other liabilities on our Condensed Consolidated Balance Sheets. Contract liabilities increased to $673,000 as of March 31, 2019 from $571,000 as of June 30, 2018. The increase for the nine months ended March 31, 2019 was primarily driven by deposits received from upcoming groups, offset by $560,000 revenue recognized that was included in the advanced deposits balance as of June 30, 2018. Contract costs We consider sales commissions earned to be incremental costs of obtaining a contract with our customers. As a practical expedient, we expense these costs as incurred as our contracts with customers and lease agreements do not extend beyond one year.

INVESTMENT IN HOTEL, NET

INVESTMENT IN HOTEL, NET	9 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	NOTE 3 – INVESTMENT IN HOTEL, NET Investment in hotel consisted of the following as of: Accumulated Net Book March 31, 2019 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Furniture and equipment 30,379,000 (26,632,000 ) 3,747,000 Building and improvements 63,879,000 (30,643,000 ) 33,236,000 $ 96,996,000 $ (57,275,000 ) $ 39,721,000 Accumulated Net Book June 30, 2018 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Furniture and equipment 29,350,000 (25,876,000 ) 3,474,000 Building and improvements 64,336,000 (29,587,000 ) 34,749,000 $ 96,424,000 $ (55,463,000 ) $ 40,961,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET	9 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Investment In Real Estate [Text Block]	NOTE 4 – INVESTMENT IN REAL ESTATE, NET The Company’s investment in real estate includes sixteen apartment complexes, one commercial real estate property and three single-family houses. The properties are located throughout the United States, but are concentrated in Dallas, Texas and Southern California. The Company also has an investment in unimproved real property. Investment in real estate consisted of the following: As of March 31, 2019 June 30, 2018 Land $ 25,033,000 $ 25,033,000 Buildings, improvements and equipment 68,102,000 67,536,000 Accumulated depreciation (41,015,000 ) (39,200,000 ) Investment in real estate, net $ 52,120,000 $ 53,369,000

INVESTMENT IN MARKETABLE SECURI

INVESTMENT IN MARKETABLE SECURITIES	9 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 5 – INVESTMENT IN MARKETABLE SECURITIES The Company’s investment in marketable securities consists primarily of corporate equities. The Company has also periodically invested in corporate bonds and income producing securities, which may include interests in real estate-based companies and REITs, where financial benefit could transfer to its shareholders through income and/or capital gain. At March 31, 2019 and June 30, 2018, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows: Gross Gross Net Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Loss Value As of March 31, 2019 Corporate Equities $ 20,957,000 $ 1,372,000 $ (11,495,000 ) $ (10,123,000 ) $ 10,834,000 As of June 30, 2018 Corporate Equities $ 22,388,000 $ 2,450,000 $ (10,997,000 ) $ (8,547,000 ) $ 13,841,000 As of March 31, 2019, and June 30, 2018, the Company had unrealized losses of $11,094,000 and $10,819,000, respectively, related to securities held for over one year. As of March 31, 2019, and June 30, 2018, unrealized losses related to the Company’s investment in Comstock Mining Inc. (“Comstock” - NYSE AMERICAN: LODE) were $10,828,000 and $10,646,000, respectively. Net gains (losses) on marketable securities on the statement of operations is comprised of realized and unrealized gains (losses). Below is the composition of net loss on marketable securities for the respective periods: For the three months ended March 31, 2019 2018 Realized (loss) gain on marketable securities $ (169,000 ) $ 534,000 Unrealized gain on marketable securities 850,000 102,000 Unrealized gain (loss) on marketable securities related to Comstock 280,000 (744,000 ) Net gain (loss) on marketable securities $ 961,000 $ (108,000 ) For the nine months ended March 31, 2019 2018 Realized gain on marketable securities $ 353,000 $ 415,000 Unrealized (loss) gain on marketable securities (1,352,000 ) 775,000 Unrealized loss on marketable securities related to Comstock (182,000 ) (3,498,000 ) Net loss on marketable securities $ (1,181,000 ) $ (2,308,000 )

OTHER INVESTMENTS, NET

OTHER INVESTMENTS, NET	9 Months Ended
	Mar. 31, 2019
Other Investments [Abstract]
Other Investments Disclosure [Text Block]	NOTE 6 – OTHER INVESTMENTS, NET The Company may also invest, with the approval of the securities investment committee and other Company guidelines, in private investment equity funds and other unlisted securities, such as convertible notes through private placements. Those investments in non-marketable securities are carried at cost on the Company’s balance sheet as part of other investments, net of other than temporary impairment losses. Other investments also include non-marketable warrants carried at fair value. Other investments, net consist of the following: Type March 31, 2019 June 30, 2018 Private equity hedge fund, at cost $ 376,000 $ 554,000 Other preferred stock, at cost 236,000 259,000 $ 612,000 $ 813,000

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 7 - FAIR VALUE MEASUREMENTS The carrying values of the Company’s financial instruments not required to be carried at fair value on a recurring basis approximate fair value due to their short maturities (i.e., accounts receivable, other assets, accounts payable and other liabilities and obligations for securities sold) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable). The assets measured at fair value on a recurring basis are as follows: As of 3/31/2019 6/30/2018 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: Consumer $ 2,196,000 $ - REITs and real estate companies 2,032,000 4,300,000 Corporate Bonds 1,791,000 2,282,000 Basic material 1,626,000 1,038,000 Healthcare 772,000 1,777,000 Energy 747,000 311,000 Financial Services 389,000 229,000 Industrials 360,000 404,000 Other 921,000 3,500,000 $ 10,834,000 $ 13,841,000 The fair values of investments in marketable securities are determined by the most recently traded price of each security at the balance sheet date. Financial assets that are measured at fair value on a non-recurring basis and are not included in the tables above include “Other investments in non-marketable securities,” that were initially measured at cost and have been written down to fair value as a result of impairment. The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows: Net loss for the nine months Assets Level 3 March 31, 2019 ended March 31, 2019 Other non-marketable investments $ 612,000 $ 612,000 $ (98,000 ) Net loss for the nine months Assets Level 3 June 30, 2018 ended March 31, 2018 Other non-marketable investments $ 813,000 $ 813,000 $ (200,000 ) Other investments in non-marketable securities are carried at cost net of any impairment loss. The Company has no significant influence or control over the entities that issue these investments and holds less than 20% ownership in each of the investments. These investments are reviewed on a periodic basis for other-than-temporary impairment. The Company reviews several factors to determine whether a loss is other-than-temporary. These factors include but are not limited to: (i) the length of time an investment is in an unrealized loss position, (ii) the extent to which fair value is less than cost, (iii) the financial condition and near term prospects of the issuer and (iv) our ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	9 Months Ended
	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	NOTE 8 – CASH, CASH EQUIVALENTS AND RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statement of cash flows. As of 3/31/2019 6/30/2018 Cash and cash equivalents $ 11,484,000 $ 8,053,000 Restricted cash 9,870,000 9,458,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 21,354,000 $ 17,511,000 Restricted cash is comprised of amounts held by lenders for payment of real estate taxes, insurance, replacement and capital addition reserves. It also includes key money received from Interstate that is restricted for capital improvements for the Hotel.

STOCK BASED COMPENSATION PLANS

STOCK BASED COMPENSATION PLANS	9 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 9 – STOCK BASED COMPENSATION PLANS The Company follows Accounting Standard Codification (ASC) Topic 718 “Compensation – Stock Compensation”, which addresses accounting for equity-based compensation arrangements, including employee stock options and restricted stock units. Please refer to Note 16 – Stock Based Compensation Plans in the Company's Form 10-K for the year ended June 30, 2018 for more detailed information on the Company’s stock-based compensation plans. During the three months ended March 31, 2019 and 2018, the Company recorded stock option compensation cost of $9,000 and $30,000, respectively, related to stock options that were previously issued. During the nine months ended March 31, 2019 and 2018, the Company recorded stock option compensation cost of $68,000 and $153,000, respectively, related to stock options that were previously issued. As of March 31, 2019, there was a total of $53,000 of unamortized compensation related to stock options which is expected to be recognized over the weighted-average period of 2.92 years. In December 2018, the Company’s President and Chief Executive Officer, John V. Winfield exercised 26,805 vested Incentive Stock Options by surrendering 17,439 shares of the Company’s common stock at fair value as payment of the exercise price, resulting in a net issuance to him of 9,366 shares. No additional compensation expense was recorded related to the issuance. Option-pricing models require the input of various subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The expected stock price volatility is based on analysis of the Company’s stock price history. The Company has selected to use the simplified method for estimating the expected term. The risk-free interest rate is based on the U.S. Treasury interest rates whose term is consistent with the expected life of the stock options. No dividend yield is included as the Company has not issued any dividends and does not anticipate issuing any dividends in the future. The following table summarizes the stock options activity from July 1, 2017 through March 31, 2019: Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2017 368,000 $ 17.21 5.17 years $ 3,046,000 Granted - - Exercised - - Forfeited - - Exchanged - - Outstanding at June 30, 2018 368,000 $ 17.21 4.17 years $ 3,505,000 Exercisable at June 30, 2018 318,000 $ 16.47 3.79 years $ 3,257,000 Vested and Expected to vest at June 30, 2018 368,000 $ 17.21 4.17 years $ 3,505,000 Oustanding at July 1, 2018 368,000 $ 17.21 4.17 years $ 3,505,000 Granted - - Exercised (26,805 ) 20.52 Forfeited - - Exchanged Outstanding at March 31, 2019 341,195 $ 16.95 3.32 years $ 4,690,000 Exercisable at March 31, 2019 330,395 $ 16.62 3.17 years $ 4,653,000 Vested and Expected to vest at March 31, 2019 341,195 $ 16.95 3.32 years $ 4,690,000

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 10 – SEGMENT INFORMATION The Company operates in three reportable segments, the operation of the hotel (“Hotel Operations”), the operation of its multi-family residential properties (“Real Estate Operations”) and the investment of its cash in marketable securities and other investments (“Investment Transactions”). These three operating segments, as presented in the financial statements, reflect how management internally reviews each segment’s performance. Management also makes operational and strategic decisions based on this information. Information below represents reported segments for the three and nine months ended March 31, 2019 and 2018. Operating income from hotel operations consist of the operation of the hotel and operation of the garage. Operating income for rental properties consist of rental income. Operating loss for investment transactions consist of net investment gains (losses), impairment loss on other investments, net unrealized gain (loss) on other investments, dividend and interest income and trading and margin interest expense. The other segment consists of corporate general and administrative expenses and the income tax expense for the entire Company. As of and for the three months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 15,469,000 $ 3,744,000 $ - $ - $ 19,213,000 Segment operating expenses (11,378,000 ) (2,051,000 ) - (667,000 ) (14,096,000 ) Segment income (loss) from operations 4,091,000 1,693,000 - (667,000 ) 5,117,000 Interest expense - mortgage (1,812,000 ) (598,000 ) - - (2,410,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (611,000 ) (607,000 ) - - (1,218,000 ) Gain from investments - - 745,000 - 745,000 Income tax expense - - - (501,000 ) (501,000 ) Net income (loss) $ 1,270,000 $ 488,000 $ 745,000 $ (1,168,000 ) $ 1,335,000 Total assets $ 58,146,000 $ 52,120,000 $ 11,446,000 $ 5,559,000 $ 127,271,000 For the three months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 14,344,000 $ 3,628,000 $ - $ - $ 17,972,000 Segment operating expenses (10,573,000 ) (1,843,000 ) - (828,000 ) (13,244,000 ) Segment income (loss) from operations 3,771,000 1,785,000 - (828,000 ) 4,728,000 Interest expense - mortgage (1,733,000 ) (627,000 ) - - (2,360,000 ) Depreciation and amortization expense (669,000 ) (591,000 ) - - (1,260,000 ) Loss from investments - - (318,000 ) - (318,000 ) Income tax expense - - - (11,000 ) (11,000 ) Net income (loss) $ 1,369,000 $ 567,000 $ (318,000 ) $ (839,000 ) $ 779,000 As of and for the nine months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 45,276,000 $ 11,175,000 $ - $ - $ 56,451,000 Segment operating expenses (33,424,000 ) (5,929,000 ) - (1,789,000 ) (41,142,000 ) Segment income (loss) from operations 11,852,000 5,246,000 - (1,789,000 ) 15,309,000 Interest expense - mortgage (5,423,000 ) (1,957,000 ) - - (7,380,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (1,896,000 ) (1,814,000 ) - - (3,710,000 ) Loss from investments - - (1,709,000 ) - (1,709,000 ) Income tax expense - - - (771,000 ) (771,000 ) Net income (loss) $ 4,135,000 $ 1,475,000 $ (1,709,000 ) $ (2,560,000 ) $ 1,341,000 Total assets $ 58,146,000 $ 52,120,000 $ 11,446,000 $ 5,559,000 $ 127,271,000 For the nine months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 41,968,000 $ 10,930,000 $ - $ - $ 52,898,000 Segment operating expenses (31,905,000 ) (5,840,000 ) - (2,389,000 ) (40,134,000 ) Segment income (loss) from operations 10,063,000 5,090,000 - (2,389,000 ) 12,764,000 Interest expense - mortgage (5,436,000 ) (1,907,000 ) - - (7,343,000 ) Depreciation and amortization expense (2,050,000 ) (1,751,000 ) - - (3,801,000 ) Loss from investments - - (3,213,000 ) - (3,213,000 ) Income tax expense - - - (430,000 ) (430,000 ) Net income (loss) $ 2,577,000 $ 1,432,000 $ (3,213,000 ) $ (2,819,000 ) $ (2,023,000 )

RELATED PARTY AND OTHER FINANCI

RELATED PARTY AND OTHER FINANCING TRANSACTIONS	9 Months Ended
	Mar. 31, 2019
Related Party And Other Notes Payable [Abstract]
Related Party and Other Financing Transactions [Text Block]	NOTE 11 – RELATED PARTY AND OTHER FINANCING TRANSACTIONS On July 2, 2014, the Partnership obtained from the Company an unsecured loan in the principal amount of $4,250,000 at 12% per year fixed interest, with a term of 2 years, payable interest only each month. InterGroup received a 3% loan fee. The loan may be prepaid at any time without penalty. The current loan balance of $3,000,000 was extended to June 30, 2019. During the fiscal year ended June 30, 2018, the Partnership made principal paydown of $1,250,000. The balance of related party note payable at March 31, 2019 includes obligation to Hilton (Franchisor) in the form of a self-exhausting, interest free development incentive note which is reduced by approximately $316,000 annually through 2030 by Hilton if the Partnership is still a Franchisee with Hilton. The outstanding balance of the note as of March 31, 2019 and June 30, 2018, was $3,404,000 and $3,642,000, respectively. On February 1, 2017, Justice entered into an HMA with Interstate to manage the Hotel with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of 10 years commencing on the takeover date and automatically renews for an additional year not to exceed five years in aggregate subject to certain conditions. The HMA also provides for Interstate to advance a key money incentive fee to the Hotel for capital improvements in the amount of $2,000,000 under certain terms and conditions described in a separate key money agreement. The key money contribution shall be amortized in equal monthly amounts over an eight (8) year period commencing on the second (2 nd In April 2017, Portsmouth obtained from InterGroup an unsecured short-term loan in the amount of $1,000,000 at 5% per year fixed interest, with a term of five months and maturing September 6, 2017. On September 1 st As of March 31, 2019, the Company had capital lease obligations outstanding of $1,256,000. These capital leases expire in various years through 2023 at rates ranging from 5.77% to 6.53% per annum. For the year ending June 30, 2019 $ 102,000 2020 405,000 2021 405,000 2022 397,000 2023 90,000 Total minimum lease payments 1,399,000 Less interest on capital lease (143,000 ) Present value of future minimum lease payments $ 1,256,000 Future minimum principal payments for all related party and other financing transactions are as follows: For the year ending June 30, 2019 $ 396,000 2020 3,934,000 2021 930,000 2022 946,000 2023 655,000 Thereafter 2,796,000 $ 9,657,000 In July 2018, InterGroup obtained a revolving $5,000,000 line of credit (“RLOC”). On July 31, 2018, $2,969,000 was drawn from the RLOC to pay off the mortgage note payable at Intergroup Woodland Village, Inc. (“Woodland Village”) and a new mortgage note payable was established at Woodland Village due to InterGroup for the amount drawn. Woodland Village holds a three-story apartment complex in Los Angeles, California and is 55.4% and 44.6% owned by Santa Fe and the Company, respectively. The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. The RLOC and all accrued and unpaid interest are due in July 2019. The $2,969,000 mortgage due to InterGroup carries same terms as InterGroup’s RLOC. Effective May 12, 2017, InterGroup agreed to become an additional guarantor under the limited guaranty and an additional indemnitor under environmental indemnity for Justice Investors limited partnership’s $97,000,000 mortgage loan and the $20,000,000 mezzanine loan, in order to maintain certain minimum net worth and liquidity guarantor covenant requirements that Portsmouth was unable to satisfy independently as of March 31, 2017. In connection with the redemption of the limited partnership interest of Justice, Justice Operating Company, LLC agreed to pay a total of $1,550,000 in fees to certain officers and directors of the Company for services rendered in connection with the redemption of the partnership interests, refinancing of the Justices properties and reorganization of Justice. This agreement was superseded by a letter dated December 11, 2013 from Justice, in which Justice assumed the payment obligations of Justice Operating Company, LLC. As of June 30, 2018, $200,000 of these fees remain payable. The balance was paid in full as of March 31, 2019. As of September 30, 2017, Justice had an outstanding accounts payable balance to InterGroup for $116,000 for management of the Hotel from June to December of 2016. The balance was paid in full as of December 31, 2017. Five of the Portsmouth directors serve as directors of InterGroup. Three of those directors also serve as directors of Santa Fe. The three Santa Fe directors also serve as directors of InterGroup. As Chairman of the Securities Investment Committee, the Company’s President and Chief Executive Officer (CEO), John V. Winfield, directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Mr. Winfield also serves as Chief Executive Officer and Chairman of the Portsmouth and Santa Fe and oversees the investment activity of those companies. Depending on certain market conditions and various risk factors, the Chief Executive Officer, Portsmouth and Santa Fe may, at times, invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of the Chief Executive Officer and the resources of the Portsmouth and Santa Fe, at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Due To And From Broker Dealers [Policy Text Block]	Due to Securities Broker Various securities brokers have advanced funds to the Company for the purchase of marketable securities under standard margin agreements. These advanced funds are recorded as a liability.
Obligations For Securities Sold Policy [Policy Text Block]	Obligations for Securities Sold Obligation for securities sold represents the fair market value of shares sold with the promise to deliver that security at some future date and the fair market value of shares underlying the written call options with the obligation to deliver that security when and if the option is exercised. The obligation may be satisfied with current holdings of the same security or by subsequent purchases of that security. Unrealized gains and losses from changes in the obligation are included in the condensed consolidated statements of operations.
Income Tax, Policy [Policy Text Block]	Income Tax The Company consolidates Justice (“Hotel”) for financial reporting purposes and is not taxed on its non-controlling interest in the Hotel. The income tax expense during the nine months ended March 31, 2019 and 2018 represents primarily the income tax effect of the pretax loss at InterGroup and the pretax income of Portsmouth which includes its share in net income of the Hotel. For the nine months ended March 31, 2018, a provisional net charge of $879,000 was included in the income tax expense as a result of reducing our deferred tax asset to the lower federal base rate of 21%.
Financial Condition And Liquidity Policy [Policy Text Block]	Financial Condition and Liquidity The Company’s cash flows are primarily generated from the ownership and management of real estate. To fund the redemption of limited partnership interests and to repay the prior mortgage of $42,940,000, Justice obtained a $97,000,000 mortgage loan and a $20,000,000 mezzanine loan. The mortgage loan is secured by the Partnership’s principal asset, the Hotel. The mortgage loan bears an interest rate of 5.275% per annum with interest only payments due through January 2017. Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024. Outstanding principal balance on the loan was $94,090,000 and $95,018,000 as of March 31, 2019 and June 30, 2018, respectively. As additional security for the mortgage loan, there is a limited guaranty executed by Portsmouth in favor of the mortgage lender. The mezzanine loan is secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The mezzanine interest only loan bears interest at 9.75% per annum and matures in January 2024. As additional security for the mezzanine loan, there is a limited guaranty executed by Portsmouth in favor of the mezzanine lender. Effective as of May 11, 2017, InterGroup agreed to become an additional guarantor under the limited guaranty and an additional indemnitor under the environmental indemnity for Justice Investors limited partnership’s $97,000,000 mortgage loan and the $20,000,000 mezzanine loan. Pursuant to the agreement, InterGroup is required to maintain a certain net worth and liquidity. As of March 31, 2019, InterGroup is in compliance with both requirements. In July 2018, InterGroup obtained a revolving $5,000,000 line of credit (“RLOC”). On July 31, 2018, $2,969,000 was drawn from the RLOC to pay off the mortgage note payable at Intergroup Woodland Village, Inc. (“Woodland Village”) and a new mortgage note payable was established at Woodland Village due to InterGroup for the amount drawn. Woodland Village holds a three-story apartment complex in Los Angeles, California and is 55.4% and 44.6% owned by Santa Fe and the Company, respectively. The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. The RLOC and all accrued and unpaid interest are due in July 2019. The $2,969,000 mortgage due to InterGroup carries same terms as InterGroup’s RLOC. On August 31, 2018, $1,005,000 was drawn from the RLOC to pay off a mortgage note payable on a single-family house located in Los Angeles, California. On September 28, 2018, the Company obtained a new mortgage in the amount of $1,000,000 on the same property. The interest rate on the new loan is fixed at 4.75% per annum for the first five years and variable for the remaining of the term. The note matures in October 2048. Net proceeds of $995,000 received as a result of the refinance was used to pay down the RLOC. The Hotel has continued to generate positive operating income. While the debt service requirements related to the loans may create some additional risk for the Company and its ability to generate cash flows in the future, management believes that cash flows from the operations of the Hotel and the garage will continue to be sufficient to meet all of the Partnership’s current and future obligations and financial requirements. The Company has invested in short-term, income-producing instruments and in equity and debt securities when deemed appropriate. The Company's marketable securities are classified as trading with unrealized gains and losses recorded through the consolidated statements of operations. Management believes that its cash, marketable securities, and the cash flows generated from its real estate assets, will be adequate to meet the Company’s current and future obligations. Additionally, management believes there is significant appreciated value in the Hotel property to support additional borrowings, if necessary. The following table provides a summary as of March 31, 2019, the Company’s material financial obligations which also including interest payments. 3 Months Year Year Year Year Total 2019 2020 2021 2022 2023 Thereafter Mortgage and subordinated notes payable $ 173,320,000 $ 856,000 $ 3,061,000 $ 12,490,000 $ 3,102,000 $ 37,820,000 $ 115,991,000 Other notes payable 9,657,000 396,000 3,934,000 930,000 946,000 655,000 2,796,000 Interest 43,675,000 3,125,000 9,528,000 9,136,000 8,646,000 7,636,000 5,604,000 Total $ 226,652,000 $ 4,377,000 $ 16,523,000 $ 22,556,000 $ 12,694,000 $ 46,111,000 $ 124,391,000
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued and Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-18, Restricted Cash. ASU 2016-18 requires companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Additionally, ASU 2016-18 requires a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. ASU 2016-18 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. The Company adopted ASU 2018-16 effective July 1, 2018. The adoption of ASU 2016-18 impacted the presentation of cash flows with inclusion of restricted cash flows for each of the presented periods. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08) which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The new standard permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). We applied the modified retrospective transition method to all contracts upon the adoption of ASU 2014-09 effective July 1, 2018. We provided the additional required disclosures, but the cumulative adjustment from our comparative periods was zero in our condensed consolidated financial statements. See Note 2. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02), which supersedes existing guidance on accounting for leases in Leases (Topic 840) and generally requires all leases, including operating leases, to be recognized in the statement of financial position as right-of-use assets and lease liabilities by lessees. The provisions of ASU 2016-02 are to be applied using a modified retrospective approach and are effective for reporting periods beginning after December 15, 2018; early adoption is permitted. We intend to adopt the standard on July 1, 2019. The Company is currently reviewing the effect of ASU No. 2016-02. On June 16, 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This ASU modifies the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the timelier recognition of losses. ASU No. 2016-13 will be effective for us as of January 1, 2020. The Company is currently reviewing the effect of ASU No. 2016-13.

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule Of Financial Obligations Including Interest Payments [Table Text Block]	The following table provides a summary as of March 31, 2019, the Company’s material financial obligations which also including interest payments. 3 Months Year Year Year Year Total 2019 2020 2021 2022 2023 Thereafter Mortgage and subordinated notes payable $ 173,320,000 $ 856,000 $ 3,061,000 $ 12,490,000 $ 3,102,000 $ 37,820,000 $ 115,991,000 Other notes payable 9,657,000 396,000 3,934,000 930,000 946,000 655,000 2,796,000 Interest 43,675,000 3,125,000 9,528,000 9,136,000 8,646,000 7,636,000 5,604,000 Total $ 226,652,000 $ 4,377,000 $ 16,523,000 $ 22,556,000 $ 12,694,000 $ 46,111,000 $ 124,391,000

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table present our hotel revenues disaggregated by revenue streams. Revenues from real estate are not affected by the new guidance. For the three months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 13,521,000 $ 11,714,000 Food and beverage 1,218,000 1,748,000 Garage 652,000 756,000 Other operating departments 78,000 126,000 Total hotel revenue $ 15,469,000 $ 14,344,000 For the nine months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 38,608,000 $ 34,266,000 Food and beverage 4,232,000 5,121,000 Garage 2,160,000 2,272,000 Other operating departments 276,000 309,000 Total hotel revenue $ 45,276,000 $ 41,968,000

INVESTMENT IN HOTEL, NET (Table

INVESTMENT IN HOTEL, NET (Tables)	9 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Schedule of Real Estate Properties [Table Text Block]	Investment in hotel consisted of the following as of: Accumulated Net Book March 31, 2019 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Furniture and equipment 30,379,000 (26,632,000 ) 3,747,000 Building and improvements 63,879,000 (30,643,000 ) 33,236,000 $ 96,996,000 $ (57,275,000 ) $ 39,721,000 Accumulated Net Book June 30, 2018 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Furniture and equipment 29,350,000 (25,876,000 ) 3,474,000 Building and improvements 64,336,000 (29,587,000 ) 34,749,000 $ 96,424,000 $ (55,463,000 ) $ 40,961,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET (Tables)	9 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Schedule Of Investment In Real Estate [Table Text Block]	The Company also has an investment in unimproved real property. Investment in real estate consisted of the following: As of March 31, 2019 June 30, 2018 Land $ 25,033,000 $ 25,033,000 Buildings, improvements and equipment 68,102,000 67,536,000 Accumulated depreciation (41,015,000 ) (39,200,000 ) Investment in real estate, net $ 52,120,000 $ 53,369,000

INVESTMENT IN MARKETABLE SECU_2

INVESTMENT IN MARKETABLE SECURITIES (Tables)	9 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Marketable Securities [Table Text Block]	At March 31, 2019 and June 30, 2018, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows: Gross Gross Net Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Loss Value As of March 31, 2019 Corporate Equities $ 20,957,000 $ 1,372,000 $ (11,495,000 ) $ (10,123,000 ) $ 10,834,000 As of June 30, 2018 Corporate Equities $ 22,388,000 $ 2,450,000 $ (10,997,000 ) $ (8,547,000 ) $ 13,841,000
Gain (Loss) on Investments [Table Text Block]	Net gains (losses) on marketable securities on the statement of operations is comprised of realized and unrealized gains (losses). Below is the composition of net loss on marketable securities for the respective periods: For the three months ended March 31, 2019 2018 Realized (loss) gain on marketable securities $ (169,000 ) $ 534,000 Unrealized gain on marketable securities 850,000 102,000 Unrealized gain (loss) on marketable securities related to Comstock 280,000 (744,000 ) Net gain (loss) on marketable securities $ 961,000 $ (108,000 ) For the nine months ended March 31, 2019 2018 Realized gain on marketable securities $ 353,000 $ 415,000 Unrealized (loss) gain on marketable securities (1,352,000 ) 775,000 Unrealized loss on marketable securities related to Comstock (182,000 ) (3,498,000 ) Net loss on marketable securities $ (1,181,000 ) $ (2,308,000 )

OTHER INVESTMENTS, NET (Tables)

OTHER INVESTMENTS, NET (Tables)	9 Months Ended
	Mar. 31, 2019
Other Investments [Abstract]
Other Investments Not Readily Marketable [Table Text Block]	Other investments, net consist of the following: Type March 31, 2019 June 30, 2018 Private equity hedge fund, at cost $ 376,000 $ 554,000 Other preferred stock, at cost 236,000 259,000 $ 612,000 $ 813,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The assets measured at fair value on a recurring basis are as follows: As of 3/31/2019 6/30/2018 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: Consumer $ 2,196,000 $ - REITs and real estate companies 2,032,000 4,300,000 Corporate Bonds 1,791,000 2,282,000 Basic material 1,626,000 1,038,000 Healthcare 772,000 1,777,000 Energy 747,000 311,000 Financial Services 389,000 229,000 Industrials 360,000 404,000 Other 921,000 3,500,000 $ 10,834,000 $ 13,841,000
Fair Value Measurements, Nonrecurring [Table Text Block]	The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows: Net loss for the nine months Assets Level 3 March 31, 2019 ended March 31, 2019 Other non-marketable investments $ 612,000 $ 612,000 $ (98,000 ) Net loss for the nine months Assets Level 3 June 30, 2018 ended March 31, 2018 Other non-marketable investments $ 813,000 $ 813,000 $ (200,000 )

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	9 Months Ended
	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Schedule of Cash Cash Equivalents and Restricted Cash [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statement of cash flows. As of 3/31/2019 6/30/2018 Cash and cash equivalents $ 11,484,000 $ 8,053,000 Restricted cash 9,870,000 9,458,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 21,354,000 $ 17,511,000

STOCK BASED COMPENSATION PLANS

STOCK BASED COMPENSATION PLANS (Tables)	9 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes the stock options activity from July 1, 2017 through March 31, 2019: Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2017 368,000 $ 17.21 5.17 years $ 3,046,000 Granted - - Exercised - - Forfeited - - Exchanged - - Outstanding at June 30, 2018 368,000 $ 17.21 4.17 years $ 3,505,000 Exercisable at June 30, 2018 318,000 $ 16.47 3.79 years $ 3,257,000 Vested and Expected to vest at June 30, 2018 368,000 $ 17.21 4.17 years $ 3,505,000 Oustanding at July 1, 2018 368,000 $ 17.21 4.17 years $ 3,505,000 Granted - - Exercised (26,805 ) 20.52 Forfeited - - Exchanged Outstanding at March 31, 2019 341,195 $ 16.95 3.32 years $ 4,690,000 Exercisable at March 31, 2019 330,395 $ 16.62 3.17 years $ 4,653,000 Vested and Expected to vest at March 31, 2019 341,195 $ 16.95 3.32 years $ 4,690,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The other segment consists of corporate general and administrative expenses and the income tax expense for the entire Company. As of and for the three months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 15,469,000 $ 3,744,000 $ - $ - $ 19,213,000 Segment operating expenses (11,378,000 ) (2,051,000 ) - (667,000 ) (14,096,000 ) Segment income (loss) from operations 4,091,000 1,693,000 - (667,000 ) 5,117,000 Interest expense - mortgage (1,812,000 ) (598,000 ) - - (2,410,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (611,000 ) (607,000 ) - - (1,218,000 ) Gain from investments - - 745,000 - 745,000 Income tax expense - - - (501,000 ) (501,000 ) Net income (loss) $ 1,270,000 $ 488,000 $ 745,000 $ (1,168,000 ) $ 1,335,000 Total assets $ 58,146,000 $ 52,120,000 $ 11,446,000 $ 5,559,000 $ 127,271,000 For the three months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 14,344,000 $ 3,628,000 $ - $ - $ 17,972,000 Segment operating expenses (10,573,000 ) (1,843,000 ) - (828,000 ) (13,244,000 ) Segment income (loss) from operations 3,771,000 1,785,000 - (828,000 ) 4,728,000 Interest expense - mortgage (1,733,000 ) (627,000 ) - - (2,360,000 ) Depreciation and amortization expense (669,000 ) (591,000 ) - - (1,260,000 ) Loss from investments - - (318,000 ) - (318,000 ) Income tax expense - - - (11,000 ) (11,000 ) Net income (loss) $ 1,369,000 $ 567,000 $ (318,000 ) $ (839,000 ) $ 779,000 As of and for the nine months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 45,276,000 $ 11,175,000 $ - $ - $ 56,451,000 Segment operating expenses (33,424,000 ) (5,929,000 ) - (1,789,000 ) (41,142,000 ) Segment income (loss) from operations 11,852,000 5,246,000 - (1,789,000 ) 15,309,000 Interest expense - mortgage (5,423,000 ) (1,957,000 ) - - (7,380,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (1,896,000 ) (1,814,000 ) - - (3,710,000 ) Loss from investments - - (1,709,000 ) - (1,709,000 ) Income tax expense - - - (771,000 ) (771,000 ) Net income (loss) $ 4,135,000 $ 1,475,000 $ (1,709,000 ) $ (2,560,000 ) $ 1,341,000 Total assets $ 58,146,000 $ 52,120,000 $ 11,446,000 $ 5,559,000 $ 127,271,000 For the nine months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 41,968,000 $ 10,930,000 $ - $ - $ 52,898,000 Segment operating expenses (31,905,000 ) (5,840,000 ) - (2,389,000 ) (40,134,000 ) Segment income (loss) from operations 10,063,000 5,090,000 - (2,389,000 ) 12,764,000 Interest expense - mortgage (5,436,000 ) (1,907,000 ) - - (7,343,000 ) Depreciation and amortization expense (2,050,000 ) (1,751,000 ) - - (3,801,000 ) Loss from investments - - (3,213,000 ) - (3,213,000 ) Income tax expense - - - (430,000 ) (430,000 ) Net income (loss) $ 2,577,000 $ 1,432,000 $ (3,213,000 ) $ (2,819,000 ) $ (2,023,000 )

RELATED PARTY AND OTHER FINAN_2

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Tables)	9 Months Ended
	Mar. 31, 2019
Schedule of Maturities of Long-term Debt [Table Text Block]	Future minimum principal payments for all related party and other financing transactions are as follows: For the year ending June 30, 2019 $ 396,000 2020 3,934,000 2021 930,000 2022 946,000 2023 655,000 Thereafter 2,796,000 $ 9,657,000
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Minimum future lease payments for assets under capital leases as of March 31, 2019 are as follows: For the year ending June 30, 2019 $ 102,000 2020 405,000 2021 405,000 2022 397,000 2023 90,000 Total minimum lease payments 1,399,000 Less interest on capital lease (143,000 ) Present value of future minimum lease payments $ 1,256,000

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2019USD ($)
Total	$ 226,652,000
3 Months 2019	4,377,000
Year 2020	16,523,000
Year 2021	22,556,000
Year 2022	12,694,000
Year 2023	46,111,000
Thereafter	124,391,000
Mortgage and subordinated notes payable
Total	173,320,000
3 Months 2019	856,000
Year 2020	3,061,000
Year 2021	12,490,000
Year 2022	3,102,000
Year 2023	37,820,000
Thereafter	115,991,000
Other notes payable
Total	9,657,000
3 Months 2019	396,000
Year 2020	3,934,000
Year 2021	930,000
Year 2022	946,000
Year 2023	655,000
Thereafter	2,796,000
Interest
Total	43,675,000
3 Months 2019	3,125,000
Year 2020	9,528,000
Year 2021	9,136,000
Year 2022	8,646,000
Year 2023	7,636,000
Thereafter	$ 5,604,000

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2018	Aug. 31, 2018	Jul. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018	Jun. 30, 2015
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage			44.60%
Management Services Agreement Term						10 years
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent							21.00%
Line of Credit Facility, Maximum Borrowing Capacity			$ 5,000,000
Proceeds from Lines of Credit	$ 1,000,000	$ 1,005,000	$ 2,969,000			$ 2,985,000	$ 0
Debt Instrument, Description of Variable Rate Basis			LIBOR plus 3%
Debt Instrument, Basis Spread on Variable Rate			3.00%			3.00%
Long-term Line of Credit, Noncurrent			$ 2,969,000	$ 2,985,000		$ 2,985,000		$ 0
Debt Instrument, Interest Rate Terms	The interest rate on the new loan is fixed at 4.75% per annum for the first five years and variable for the remaining of the term.
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Debt Instrument Expiration or Due Date Month and Year	Oct. 31, 2048
Proceeds from Other Debt	$ 995,000
Management Fee Payable Percentage on Hotel Revenue						(1.70%)
Proceeds from Sale of Loans and Leases Held-for-investment						$ 42,940,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages				97,000,000		$ 97,000,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate						5.275%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Final Maturity Date						Jan. 31, 2024
Income Tax Expense (Benefit)				501,000	$ 11,000	$ 771,000	430,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate				$ 94,090,000		$ 94,090,000		95,018,000
Trading Securities, Realized Loss								$ 6,007,000
Federal [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Income Taxes Receivable									$ 1,860,000
Portsmouth [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage				68.80%		68.80%
Noncontrolling Interest, Ownership Percentage by Parent				13.40%		13.40%
Mezzanine Loan [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages				$ 20,000,000		$ 20,000,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate						9.75%
Justice Investors [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Income Tax Expense (Benefit)							$ 879,000
Santa Fe [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired				85.90%		85.90%
Percentage Of Voting Shares In Common Stock				4.00%		4.00%
Santa Fe [Member] | Woodland Village Inc [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage			55.40%

REVENUE (Details)

REVENUE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Hotel revenues:
Revenues	$ 19,213,000	$ 17,972,000	$ 56,451,000	$ 52,898,000
Hotel Rooms [Member]
Hotel revenues:
Revenues	13,521,000	11,714,000	38,608,000	34,266,000
Food and Beverage [Member]
Hotel revenues:
Revenues	1,218,000	1,748,000	4,232,000	5,121,000
Garage [Member]
Hotel revenues:
Revenues	652,000	756,000	2,160,000	2,272,000
Other Operating Departments [Member]
Hotel revenues:
Revenues	78,000	126,000	276,000	309,000
Hotel [Member]
Hotel revenues:
Revenues	$ 15,469,000	$ 14,344,000	$ 45,276,000	$ 41,968,000

REVENUE (Details Textual)

REVENUE (Details Textual) - USD ($)	9 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability	$ 673,000	$ 571,000
Contract with Customer, Liability, Revenue Recognized	$ 560,000

INVESTMENT IN HOTEL, NET (Detai

INVESTMENT IN HOTEL, NET (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Net Book Value	$ 39,721,000	$ 40,961,000
Hotel [Member]
Property, Plant and Equipment [Line Items]
Cost	96,996,000	96,424,000
Accumulated Depreciation	(57,275,000)	(55,463,000)
Net Book Value	39,721,000	40,961,000
Land [Member] | Hotel [Member]
Property, Plant and Equipment [Line Items]
Cost	2,738,000	2,738,000
Accumulated Depreciation	0	0
Net Book Value	2,738,000	2,738,000
Furniture and equipment [Member] | Hotel [Member]
Property, Plant and Equipment [Line Items]
Cost	30,379,000	29,350,000
Accumulated Depreciation	(26,632,000)	(25,876,000)
Net Book Value	3,747,000	3,474,000
Building and improvements [Member] | Hotel [Member]
Property, Plant and Equipment [Line Items]
Cost	63,879,000	64,336,000
Accumulated Depreciation	(30,643,000)	(29,587,000)
Net Book Value	$ 33,236,000	$ 34,749,000

INVESTMENT IN REAL ESTATE, NE_2

INVESTMENT IN REAL ESTATE, NET (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Investment in real estate, net	$ 52,120,000	$ 53,369,000
Apartment Building [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(41,015,000)	(39,200,000)
Apartment Building [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Cost	25,033,000	25,033,000
Apartment Building [Member] | Buildings, improvements and equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	$ 68,102,000	$ 67,536,000

INVESTMENT IN MARKETABLE SECU_3

INVESTMENT IN MARKETABLE SECURITIES (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Debt and Equity Securities, FV-NI [Line Items]
Gross Unrealized Loss			$ (1,534,000)	$ (2,723,000)
Net Unrealized Loss	$ 850,000	$ 102,000	(1,352,000)	$ 775,000
Fair Value	10,834,000		10,834,000		$ 13,841,000
Corporate Equities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Cost	20,957,000		20,957,000		22,388,000
Gross Unrealized Gain			1,372,000		2,450,000
Gross Unrealized Loss			(11,495,000)		(10,997,000)
Net Unrealized Loss			(10,123,000)		(8,547,000)
Fair Value	$ 10,834,000		$ 10,834,000		$ 13,841,000

INVESTMENT IN MARKETABLE SECU_4

INVESTMENT IN MARKETABLE SECURITIES (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Realized gain on marketable securities	$ (169,000)	$ 534,000	$ 353,000	$ 415,000
Unrealized (loss) gain on marketable securities	850,000	102,000	(1,352,000)	775,000
Unrealized loss on marketable securities related to Comstock	280,000	(744,000)	(182,000)	(3,498,000)
Net loss on marketable securities	$ 961,000	$ (108,000)	$ (1,181,000)	$ (2,308,000)

INVESTMENT IN MARKETABLE SECU_5

INVESTMENT IN MARKETABLE SECURITIES (Details Textual) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Debt and Equity Securities, FV-NI [Line Items]
Trading Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	$ 11,094,000	$ 10,819,000
Comstock Mining Inc [Member]
Debt and Equity Securities, FV-NI [Line Items]
Trading Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	$ 10,828,000	$ 10,646,000

OTHER INVESTMENTS, NET (Details

OTHER INVESTMENTS, NET (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Other Investment [Line Items]
Other investments, net	$ 612,000	$ 813,000
Private equity hedge fund, at cost [Member]
Other Investment [Line Items]
Other investments, net	376,000	554,000
Other preferred stock, at cost [Member]
Other Investment [Line Items]
Other investments, net	$ 236,000	$ 259,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Assets:
Investment in marketable securities	$ 10,834,000	$ 13,841,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets:
Investment in marketable securities	10,834,000	13,841,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Consumer [Member]
Assets:
Investment in marketable securities	2,196,000	0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Financal Services [Member]
Assets:
Investment in marketable securities	389,000	229,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | REITs and real estate companies [Member]
Assets:
Investment in marketable securities	2,032,000	4,300,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Assets:
Investment in marketable securities	1,791,000	2,282,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Energy [Member]
Assets:
Investment in marketable securities	747,000	311,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Healthcare [Member]
Assets:
Investment in marketable securities	772,000	1,777,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Industrials [Member]
Assets:
Investment in marketable securities	360,000	404,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Basic material [Member]
Assets:
Investment in marketable securities	1,626,000	1,038,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Other [Member]
Assets:
Investment in marketable securities	$ 921,000	$ 3,500,000

FAIR VALUE MEASUREMENTS (Deta_2

FAIR VALUE MEASUREMENTS (Details 1) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net loss	$ (98,000)	$ (200,000)
Other Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	612,000		$ 813,000
Other Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	$ 612,000		$ 813,000

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 11,484,000	$ 8,053,000
Restricted cash	9,870,000	9,458,000
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 21,354,000	$ 17,511,000	$ 11,707,000	$ 10,273,000

STOCK BASED COMPENSATION PLAN_2

STOCK BASED COMPENSATION PLANS (Details) - Equity Option [Member] - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2017
Stock Based Compensation [Line Items]
Oustanding, Number of Shares		368,000	368,000
Granted, Number of Shares		0	0
Exercised, Number of Shares		(26,805)	0
Forfeited, Number of Shares		0	0
Exchanged, Number of Shares			0
Oustanding, Number of Shares	341,195	341,195	368,000	368,000
Exercisable, Number of Shares	330,395	330,395	318,000
Vested and Expected to vest, Number of Shares	341,195	341,195	368,000
Oustanding, Weighted Average Exercise Price		$ 17.21	$ 17.21
Granted, Weighted Average Exercise Price		0	0
Exercised, Weighted Average Exercise Price		20.52	0
Forfeited, Weighted Average Exercise Price		0	0
Exchanged, Weighted Average Exercise Price			0
Oustanding, Weighted Average Exercise Price	$ 16.95	16.95	17.21	$ 17.21
Exercisable, Weighted Average Exercise Price	16.62	16.62	16.47
Vested and Expected to vest, Weighted Average Exercise Price	$ 16.95	$ 16.95	$ 17.21
Oustanding at Weighted Average Remaining Life	3 years 3 months 25 days	4 years 2 months 1 day	0 years	0 years
Exercisable, Weighted Average Remaining Life		0 years	0 years
Vested and Expected to vest, Weighted Average Remaining Life		0 years	0 years
Outstanding, Aggregate Intrinsic Value	$ 4,690,000	$ 4,690,000	$ 3,505,000	$ 3,046,000
Exercisable, Aggregate Intrinsic Value	4,653,000	4,653,000	3,257,000
Vested and Expected to vest, Aggregate Intrinsic Value	$ 4,690,000	4,690,000	3,505,000
Outstanding, Aggregate Intrinsic Value		$ 3,505,000	$ 3,046,000

STOCK BASED COMPENSATION PLAN_3

STOCK BASED COMPENSATION PLANS (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Stock Based Compensation [Line Items]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 9,000		$ 30,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 53,000			$ 53,000
Share-Based Compensation Arrangement By Share-Based Payment Award Award Vesting Period 1				2 years 11 months 1 day
Allocated Share-based Compensation Expense				$ 68,000	$ 153,000
Common Stock, Shares, Issued	3,404,982			3,404,982		3,395,616
Chief Executive Officer [Member]
Stock Based Compensation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		26,805
Common Stock, Shares, Issued		17,439
Stock Issued During Period, Shares, New Issues		9,366

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended						9 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 19,213,000			$ 17,972,000			$ 56,451,000	$ 52,898,000
Segment income (loss) from operations	3,899,000			3,468,000			11,599,000	8,963,000
Interest expense - mortgage	(2,410,000)			(2,360,000)			(7,380,000)	(7,343,000)
Loss on disposal of assets	(398,000)						(398,000)	0
Depreciation and amortization expense	(1,218,000)			(1,260,000)			(3,710,000)	(3,801,000)
Gain (Loss) from investments	745,000
Income tax expense	(501,000)			(11,000)			(771,000)	(430,000)
Net income (loss)	1,335,000	$ (1,122,000)	$ 1,128,000	779,000	$ (2,507,000)	$ (295,000)	1,341,000	(2,023,000)
Total assets	127,271,000						127,271,000		$ 131,680,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	19,213,000			17,972,000			56,451,000	52,898,000
Segment operating expenses	(14,096,000)			(13,244,000)			(41,142,000)	(40,134,000)
Segment income (loss) from operations	5,117,000			4,728,000			15,309,000	12,764,000
Interest expense - mortgage	(2,410,000)			(2,360,000)			(7,380,000)	(7,343,000)
Loss on disposal of assets							(398,000)
Depreciation and amortization expense	(1,218,000)			(1,260,000)			(3,710,000)	(3,801,000)
Gain (Loss) from investments				(318,000)			(1,709,000)	(3,213,000)
Income tax expense	(501,000)			(11,000)			(771,000)	(430,000)
Net income (loss)	1,335,000			779,000			1,341,000	(2,023,000)
Total assets	127,271,000						127,271,000
Hotel Operations [Member]
Segment Reporting Information [Line Items]
Loss on disposal of assets	(398,000)						(398,000)
Gain (Loss) from investments	0
Hotel Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	15,469,000			14,344,000			45,276,000	41,968,000
Segment operating expenses	(11,378,000)			(10,573,000)			(33,424,000)	(31,905,000)
Segment income (loss) from operations	4,091,000			3,771,000			11,852,000	10,063,000
Interest expense - mortgage	(1,812,000)			(1,733,000)			(5,423,000)	(5,436,000)
Depreciation and amortization expense	(611,000)			(669,000)			(1,896,000)	(2,050,000)
Gain (Loss) from investments				0			0	0
Income tax expense	0			0			0	0
Net income (loss)	1,270,000			1,369,000			4,135,000	2,577,000
Total assets	58,146,000						58,146,000
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Loss on disposal of assets	0						0
Gain (Loss) from investments	0
Real Estate Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	3,744,000			3,628,000			11,175,000	10,930,000
Segment operating expenses	(2,051,000)			(1,843,000)			(5,929,000)	(5,840,000)
Segment income (loss) from operations	1,693,000			1,785,000			5,246,000	5,090,000
Interest expense - mortgage	(598,000)			(627,000)			(1,957,000)	(1,907,000)
Depreciation and amortization expense	(607,000)			(591,000)			(1,814,000)	(1,751,000)
Gain (Loss) from investments				0			0	0
Income tax expense	0			0			0	0
Net income (loss)	488,000			567,000			1,475,000	1,432,000
Total assets	52,120,000						52,120,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Loss on disposal of assets	0						0
Gain (Loss) from investments	745,000
Investment Transactions [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	0			0			0	0
Segment operating expenses	0			0			0	0
Segment income (loss) from operations	0			0			0	0
Interest expense - mortgage	0			0			0	0
Depreciation and amortization expense	0			0			0	0
Gain (Loss) from investments				(318,000)			(1,709,000)	(3,213,000)
Income tax expense	0			0			0	0
Net income (loss)	745,000			(318,000)			(1,709,000)	(3,213,000)
Total assets	11,446,000						11,446,000
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Loss on disposal of assets	0
Gain (Loss) from investments	0
Corporate Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	0			0			0	0
Segment operating expenses	(667,000)			(828,000)			(1,789,000)	(2,389,000)
Segment income (loss) from operations	(667,000)			(828,000)			(1,789,000)	(2,389,000)
Interest expense - mortgage	0			0			0	0
Loss on disposal of assets							0
Depreciation and amortization expense	0			0			0	0
Gain (Loss) from investments				0			0	0
Income tax expense	(501,000)			(11,000)			(771,000)	(430,000)
Net income (loss)	(1,168,000)			$ (839,000)			(2,560,000)	$ (2,819,000)
Total assets	$ 5,559,000						$ 5,559,000

RELATED PARTY AND OTHER FINAN_3

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details)	Mar. 31, 2019USD ($)
2019	$ 102,000
2020	405,000
2021	405,000
2022	397,000
2023	90,000
Total minimum lease payments	1,399,000
Less interest on capital lease	(143,000)
Present value of future minimum lease payments	$ 1,256,000

RELATED PARTY AND OTHER FINAN_4

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details 1) - Notes Payable, Other Payables [Member]	Mar. 31, 2019USD ($)
2019	$ 396,000
2020	3,934,000
2021	930,000
2022	946,000
2023	655,000
Thereafter	2,796,000
Long-term Debt	$ 9,657,000

RELATED PARTY AND OTHER FINAN_5

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended						9 Months Ended		12 Months Ended
	Sep. 28, 2018	Aug. 31, 2018	Jul. 31, 2018	May 12, 2017	Apr. 30, 2017	Jul. 02, 2014	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018	Jun. 30, 2019	Sep. 30, 2017
Key Money Incentive Advance To Related Party							$ 2,000,000		$ 2,000,000
Management Services Agreement Term							10 years
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Capital Lease Obligations							$ 1,256,000		1,355,000
Long Term Debt Expiration Terms							These capital leases expire in various years through 2023 at rates ranging from 5.77% to 6.53% per annum.
Other Notes Payable							$ 5,416,000		5,735,000
Repayments of Long-term Debt									1,250,000
Due from Related Parties							2,000,000
Line of Credit Facility, Maximum Borrowing Capacity			$ 5,000,000
Proceeds from Lines of Credit	$ 1,000,000	$ 1,005,000	$ 2,969,000				$ 2,985,000	$ 0
Equity Method Investment, Ownership Percentage			44.60%
Debt Instrument, Basis Spread on Variable Rate			3.00%				3.00%
Long-term Line of Credit, Noncurrent			$ 2,969,000				$ 2,985,000		0
Payments to Acquire Limited Partnership Interests							1,550,000
Management Fee Payable							200,000
Unamortized Debt Issuance Expense							1,958,000		2,000,000
Intergroup [Member]
Debt Instrument, Face Amount						$ 4,250,000				$ 3,000,000
Debt Instrument, Interest Rate, Stated Percentage						12.00%
Debt Instrument, Term						2 years
Debt Instrument Fee Percentage						3.00%
Debt Instrument, Maturity Date						Jun. 30, 2019
Portsmouth Square Inc [Member]
Debt Instrument, Face Amount					$ 1,000,000
Debt Instrument, Interest Rate, Stated Percentage					5.00%
Additional Indemnitor [Member] | Mortgage Loans [Member]
Related Party Transaction, Amounts of Transaction				$ 20,000,000
Additional Guarantor [Member] | Mortgage Loans [Member]
Related Party Transaction, Amounts of Transaction				$ 97,000,000
Justice [Member]
Accounts Receivable, Related Parties											$ 116,000
Interest Free Development Incentive Note [Member]
Notes Reduction							316,000
Other Notes Payable							$ 3,404,000		$ 3,642,000
Woodland Village Inc [Member]
Equity Method Investment, Ownership Percentage			44.60%
Woodland Village Inc [Member] | Santa Fe [Member]
Equity Method Investment, Ownership Percentage			55.40%
Portsmouth [Member]
Debt Instrument, Term					5 months