OTHER LIABILITIES AND DEFERRED CREDITS

6 Months Ended

Jun. 30, 2013

Other Liabilities Disclosure [Abstract]

OTHER LIABILITIES AND DEFERRED CREDITS

OTHER LIABILITIES AND DEFERRED CREDITS

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

	June 30, 2013		December 31, 2012
Acquired below market leases, net	$	51,346	$	54,350
Prepaid rent and deferred revenue	5,972		6,383
Deferred rent expense and lease intangible	930		1,008
Deferred compensation	689		637
Deferred tax liability	320		320
Straight-line rent liability	249		63
Other liabilities	52		50
Total other liabilities and deferred credits	$	59,558	$	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.