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ACQUISITIONS (Tables) (Office building located in Los Angeles, CA)
 6 Months Ended
Jun. 30, 2014
Office building located in Los Angeles, CA
  
Acquisitions  
Schedule of acquisitions

 

 

Property
  Asset
Type		   Date of
Acquisition		   Number
of
Buildings		   Rentable
Square Feet		   Purchase
Price		  
 
    
    
    
    
   (in thousands)
  

4750 Wilshire Blvd., Los Angeles, CA

   Office     April 18, 2014     1     143,000   $ 44,936  
Schedule of the fair value of the assets acquired and liabilities assumed

 

 

 
   2014 Acquisition  
 
   (in thousands)
  

Land

   $ 16,633  

Land improvements

     348  

Building and improvements

     27,947  

Tenant improvements

     691  

Acquired in-place leases(1)

     1,087  

Acquired below-market leases(2)

     (1,770 )
       
​ ​ ​ ​ ​

Net assets acquired

   $ 44,936  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       
(1)
In-place leases have a weighted average amortization period of 5.0 years.

(2)
Below-market leases have a weighted average amortization period of 5.0 years.