FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of Face Value, Carrying Amounts and Fair Value

The following were the face values, carrying amounts and fair values of the Company’s real estate loan receivable and notes payable as of June 30, 2015 and December 31, 2014, which carrying amounts generally do not approximate the fair values (in thousands):

	June 30, 2015						December 31, 2014
	Face Value		Carrying Amount		Fair Value		Face Value		Carrying Amount		Fair Value
Financial assets:
Real estate loan receivable	$	21,626	$	21,655	$	21,498	$	19,968	$	20,010	$	19,914
Financial liabilities:
Notes payable	$	1,235,990	$	1,235,990	$	1,237,041	$	1,322,898	$	1,322,898	$	1,324,139

Schedule of Assets and Liabilities at Fair Value

As of June 30, 2015, the Company measured the following assets and liabilities at fair value (in thousands):

				Fair Value Measurements Using
	Total			Quoted Prices in Active Markets  for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Recurring Basis:
Asset derivatives - interest rate swap	$	80		$	—	$	80		$	—
Asset derivatives - interest rate cap	22			—		22			—
Liability derivatives - interest rate swaps	(8,593		)	—		(8,593		)	—