OTHER LIABILITIES AND DEFERRED CREDITS

3 Months Ended

Mar. 31, 2015

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):

	March 31, 2015		December 31, 2014
Acquired below market leases, net	$	41,669	$	42,852
Prepaid rent and deferred revenue	7,538		7,288
Interest rate swap liability	2,391		1,448
Deferred rent expense and lease intangible	511		584
Deferred compensation	1,042		981
Deferred tax liability	219		219
Straight-line rent liability	2,410		2,533
Other liabilities	87		88
Total other liabilities and deferred credits, net	$	55,867	$	55,993

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.