FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2014

The following table provides the carrying values and fair values of the Company’s notes payable related to continuing operations as of December 31, 2014 and 2013:

At December 31, 2014		Carrying Value ⁽¹⁾			Fair Value ⁽²⁾
Notes Payable		$	122,148,000		$	123,511,000

At December 31, 2013		Carrying Value ⁽¹⁾			Fair Value ⁽²⁾
Notes Payable		$	124,017,000		$	124,306,000

⁽¹⁾

The carrying value of the Company’s notes payable represents outstanding principal as of December 31, 2014 and December 31, 2013.

⁽²⁾

The estimated fair value of the notes payable is based upon indicative market prices of the Company’s notes payable based on prevailing market interest rates.

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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