OTHER LIABILITIES AND DEFERRED CREDITS

12 Months Ended

Mar. 31, 2013

OTHER LIABILITIES AND DEFERRED CREDITS

NOTE 6. OTHER LIABILITIES AND DEFERRED CREDITS

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

	March 31, 2013		December 31, 2012
Acquired below market leases, net	$	52,804	$	54,350
Prepaid rent and deferred revenue		5,279		6,383
Deferred rent expense and lease intangible		969		1,008
Deferred compensation		660		637
Deferred tax liability		320		320
Straight-line rent liability		110		63
Other liabilities		39		50
Total other liabilities and deferred credits	$	60,181	$	62,811

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.