REAL ESTATE HELD FOR SALE (Tables)

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Revenue and Expenses of Real Estate Disposed of by Sale

The following table summarizes certain revenue and expenses related to the Company’s real estate properties that were sold during the year ended December 31, 2017 and held for sale as of March 31, 2018, which were included in continuing operations (in thousands):

	Three Months Ended March 31,
	2018			2017
Revenues
Rental income	$	702		$	2,820
Tenant reimbursements	194			583
Total revenues	896			3,403
Expenses
Operating, maintenance, and management	39			529
Real estate taxes and insurance	147			480
Asset management fees to affiliate	82			253
General and administrative expenses	(2		)	56
Depreciation and amortization	389			849
Interest expense	191			397
Total expenses	$	846		$	2,564

Schedule of Assets and Liabilities of Real Estate Held-for-Sale

The following summary presents the major components of assets and liabilities related to real estate held for sale as of March 31, 2018 and December 31, 2017 (in thousands):

	March 31, 2018			December 31, 2017
Assets related to real estate held for sale
Total real estate, at cost	$	42,984		$	42,755
Accumulated depreciation and amortization	(7,513		)	(7,134		)
Real estate held for sale, net	35,471			35,621
Other assets	471			469
Total assets related to real estate held for sale	$	35,942		$	36,090
Liabilities related to real estate held for sale
Notes payable, net	46,273			46,273
Other liabilities	160			320
Total liabilities related to real estate held for sale	$	46,433		$	46,593