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Other Liabilities and Deferred Credits
 6 Months Ended
Jun. 30, 2012
Other Liabilities and Deferred Credits [Abstract]  
Other Liabilities and Deferred Credits

NOTE 7. OTHER LIABILITIES AND DEFERRED CREDITS

Other liabilities and deferred credits consist of the following (in thousands):

 

                 
    June 30, 2012     December 31, 2011  

Acquired below market leases, net

   $ 47,543     $ 48,617  

Prepaid rent and deferred revenue

     4,852       5,008  

Deferred rent expense and lease intangible

     1,075       1,122  

Deferred compensation

     571       520  

Straight-line rent liability

     232       433  

Other liabilities

     43       108  
   

 

 

    

 

 

  

Total other liabilities and deferred credits

   $ 54,316     $ 55,808  
   

 

 

    

 

 

  

Straight-line rent liability relates to leases which have rental payments that decrease over time or one-time upfront payments for which the rental revenue is deferred and recognized on a straight-line basis.