Notes and Accounts Receivables

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

NOTES AND ACCOUNTS RECEIVABLES

NOTES AND ACCOUNTS RECEIVABLE

At December 31, 2014 and 2013, notes and accounts receivables included the following (in thousands):

	2014			2013
Notes receivable	$	414		$	1,445
Allowance for doubtful accounts related to notes receivable	(414		)	(995		)
Tenant and other receivables	11,961			12,160
Allowance for doubtful accounts related to tenant and other receivables	(1,229		)	(832		)
	$	10,732		$	11,778

At December 31, 2014 and 2013, the fair value of the Company’s notes receivable approximated the cost basis. Fair value was calculated by discounting future cash flows from the notes receivable at estimated rates in which similar loans would have been made at December 31, 2014 and 2013. The estimate of the rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate notes of similar type and maturity. This fair value calculation is considered to be a Level 3 calculation under the accounting guidelines, as the Company utilizes internally generated assumptions regarding current interest rates at which similar instruments would be executed.