TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2018

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended
	December 31,
	2018		2017		2016
	(in thousands)
Financial statement (“book”) net income	$	4,169	$	6,938	$	4,951
Book/Tax differences from depreciation and amortization		(4,675)		(3,097)		(1,411)
Book/Tax differences on tax free exchanges		1,087		1,344		1,257
Book/Tax differences from Investment Properties		313		—		(279)
Increase in prepaid rent and allowances		234		253		375
Business Interest Limitation		3,713		—		—
Taxable income	$	4,841	$	5,438	$	4,893