INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2013

INTANGIBLES

Summary of intangible assets and liabilities

	Gross Asset (Liability)			Accumulated (Amortization) / Accretion			Net Carrying Amount
	(In thousands)
As of December 31, 2013
Tenant leases:
In-place value	$	14,633		$	(5,327	)	$	9,306
Above-market		1,596			(501	)		1,095
Below-market		(482	)		150			(332	)
Ground leases:
Above-market		(3,546	)		1,115			(2,431	)
Below-market		23,096			(3,094	)		20,002
As of December 31, 2012
Tenant leases:
In-place value	$	20,348		$	(8,832	)	$	11,516
Above-market		1,904			(8	)		1,896
Below-market		(319	)		(35	)		(354	)
Ground leases:
Above-market		(3,546	)		956			(2,590	)
Below-market		23,096			(2,755	)		20,341