Other Liabilities and Deferred Credits

9 Months Ended

Sep. 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):

	September 30, 2012		December 31, 2011
Acquired below market leases, net	$	54,793	$	48,617
Prepaid rent and deferred revenue		4,538		5,008
Deferred rent expense and lease intangible		1,042		1,122
Deferred compensation		604		520
Straight-line rent liability		124		433
Other liabilities		39		108
Total other liabilities and deferred credits	$	61,140	$	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.