FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements on a Nonrecurring Basis

The aggregate fair value of these assets by their levels in the fair value hierarchy is as follows:

	(in thousands)
	Total		Level 1	Level 2	Level 3
December 31, 2018
Real estate investments valued at fair value	$	3,049	—	—	$	3,049

Estimated Fair Values of Financial Instruments

The estimated fair values of our financial instruments as of March 31, 2019, and December 31, 2018, respectively, are as follows:

	(in thousands)
	March 31, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	23,329	$	23,329	$	13,792	$	13,792
Mortgage and note receivable	$	26,659	$	26,659	$	26,809	$	26,809
FINANCIAL LIABILITIES
Revolving lines of credit	$	118,677	$	118,677	$	57,500	$	57,500
Term loans(1)	$	145,000	$	145,000	$	145,000	$	145,000
Mortgages payable	$	432,587	$	433,844	$	445,974	$	444,241

(1) Excluding the effect of interest rate swap agreements.