INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2016

INTANGIBLES

Summary of intangible assets and liabilities

	Gross		Accumulated		Net
	Asset		(Amortization)		Carrying
(In thousands)	(Liability)		/ Accretion		Amount
As of December 31, 2016
Tenant leases:
In-place value	$	37,567	$	(21,552)	$	16,015
Above-market		4,879		(2,422)		2,457
Below-market		(6,618)		2,065		(4,553)
Ground leases:
Above-market		(1,955)		193		(1,762)
Below-market		23,096		(4,110)		18,986
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