FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2011:

(dollars in thousands)	Level 1		Level 2		Level 3
Liabilities
Derivative financial instruments	$	—	$	3,518	$	—

Fair Value, by Balance Sheet Grouping [Table Text Block]

The Company has determined the estimated fair values of the following financial instruments by discounting future cash flows utilizing a discount rate equivalent to the rate at which similar financial instruments would be originated at the reporting date:

	December 31, 2011				December 31, 2010
(dollars in thousands)	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Notes Receivable and Preferred Equity Investments	$	59,989	$	59,989	$	89,202	$	90,612
Mortgage Notes Payable and Convertible Notes Payable	$	788,840	$	792,737	$	854,924	$	863,639