INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2015

INTANGIBLES

Summary of intangible assets and liabilities

	Gross		Accumulated		Net
	Asset		(Amortization)		Carrying
(In thousands)	(Liability)		/ Accretion		Amount
As of December 31, 2015
Tenant leases:
In-place value	$	39,129	$	(16,990)	$	22,139
Above-market		5,333		(1,752)		3,581
Below-market		(6,163)		1,350		(4,813)
Ground leases:
Above-market		(3,545)		1,432		(2,113)
Below-market		23,096		(3,771)		19,325
As of December 31, 2014
Tenant leases:
In-place value	$	39,634	$	(6,919)	$	32,715
Above-market		5,342		(686)		4,656
Below-market		(6,184)		296		(5,888)
Ground leases:
Above-market		(3,545)		1,273		(2,272)
Below-market		23,096		(3,433)		19,663