ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

Summary Of Significant Accounting Policies [Line Items]

Summary of Estimated Useful Lives of Assets

Real Estate

Land, buildings, fixtures and tenant improvements are recorded at cost and stated at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to operations as incurred. Renovations or replacements, which improve or extend the life of an asset, are capitalized and depreciated over their estimated useful lives. For financial reporting purposes, properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:

Buildings	20-40 years
Land improvements	15 years
Furniture/fixtures	3-10 years
Tenant improvements	Lease term

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the three years ended December 31, 2014 were as follows:

(in thousands of dollars)	Basis		Accumulated Amortization			Impairment Write-Offs			Divestitures			Total
Balance, January 1, 2012	$	12,877	$	(1,073	)	$	(4,648	)	$	—		$	7,156
Changes in goodwill	—		—			—			—			—
Balance, December 31, 2012	12,877		(1,073		)	(4,648		)	—			7,156
Changes in goodwill	—		—			—			(1,494		)	(1,494		)
Balance, December 31, 2013	12,877		(1,073		)	(4,648		)	(1,494		)	5,662
Changes in goodwill	—		—			—			—			—
Balance, December 31, 2014	$	12,877	$	(1,073	)	$	(4,648	)	$	(1,494	)	$	5,662

Summary of Intangible Assets and Liabilities, Net of Accumulated Amortization

The following table presents our intangible assets and liabilities, net of accumulated amortization, as of December 31, 2014 and 2013:

(in thousands of dollars)	As of December 31, 2014			As of December 31, 2013
Value of in-place lease intangibles	$	699		$	3,151
Above-market lease intangibles	91			262
Subtotal	790			3,413
Goodwill	5,662			5,662
Total intangible assets	$	6,452		$	9,075
Below-market lease intangibles	$	(2,045	)	$	(4,815	)

Summary of Intangible Assets Amortized in Next Five Years

In the normal course of business, our intangible assets will amortize in the next five years and thereafter as follows:

(in thousands of dollars) For the Year Ending December 31,	Value of In-Place Lease Intangibles		Above/(Below) Market Leases, net
2015	285		(291		)
2016	151		(246		)
2017	95		(155		)
2018	72		(153		)
2019	58		(137		)
2020 and thereafter	38		(972		)
Total	$	699	$	(1,954	)

Schedule of Capitalized Salaries, Commissions and Benefits, Real Estate Taxes and Interest

The following table summarizes our capitalized salaries, commissions and benefits, real estate taxes and interest for the years ended December 31, 2014, 2013 and 2012:

	For the Year Ended December 31,
(in thousands of dollars)	2014		2013		2012
Development/Redevelopment:
Salaries and benefits	$	1,162	$	1,059	$	805
Real estate taxes	$	4	$	4	$	277
Interest	$	604	$	874	$	1,549
Leasing:
Salaries, commissions and benefits	$	5,446	$	5,261	$	5,336

Schedule of Aggregate Cost Basis and Depreciated Basis for Federal Income Tax Purposes of Investment in Real Estate

The following table summarizes the aggregate cost basis and depreciated basis for federal income tax purposes of our investment in real estate for the years ended December 31, 2014 and 2013:

(in millions of dollars)	As of December 31, 2014		As of December 31, 2013
Aggregate cost basis for federal income tax purposes	$	3,340.2	$	3,710.1
Aggregate depreciated basis for federal income tax purposes	$	2,362.2	$	2,692.9

Schedule of Distributions Paid to Shareholders

The per share distributions paid to common shareholders had the following components for the years ended December 31, 2014, 2013 and 2012:

	For the Year Ended December 31,
	2014		2013		2012
Ordinary income	$	0.11	$	—	$	—
Non-dividend distributions	0.69		0.74		0.63
	$	0.80	$	0.74	$	0.63

Series A And Series B Preferred Shares [Member]

Summary Of Significant Accounting Policies [Line Items]

Schedule of Distributions Paid to Shareholders

The per share distributions paid to Series A preferred shareholders and Series B preferred shareholders had the following components for the years ended December 31, 2014, 2013 and 2012:

	For the Year Ended December 31,
	2014		2013		2012
Series A Preferred Share Dividends
Ordinary income	$	2.06	$	1.96	$	—
Non-dividend distributions	—		0.10		1.35
	$	2.06	$	2.06	$	1.35
Series B Preferred Share Dividends
Ordinary income	$	1.84	$	1.75	$	—
Non-dividend distributions	—		0.09		0.33
	$	1.84	$	1.84	$	0.33