LEASE INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2015

LEASE INTANGIBLES

Schedule of Intangible Assets and Liabilities and Accumulated Amortization

	Lease		Accumulated		Lease
As of December 31, 2015	Intangibles		Amortization		Intangibles, net
Intangible Assets	(in thousands)
In-place leases	$	22,722	$	(6,974)	$	15,748
Above-market leases		3,117		(681)		2,436
	$	25,839	$	(7,655)	$	18,184
Intangible Liabilities
Below-market leases	$	(3,056)	$	803	$	(2,253)

	Lease		Accumulated		Lease
As of December 31, 2014	Intangibles		Amortization		Intangibles, net
Intangible Assets	(in thousands)
In-place leases	$	11,622	$	(4,385)	$	7,237
Above-market leases		2,466		(481)		1,985
	$	14,088	$	(4,866)	$	9,222
Intangible Liabilities
Below-market leases	$	(1,378)	$	572	$	(806)

Schedule of Estimated Aggregate Amortization Expense

	Intangible		Intangible
Years ending December 31,	Assets		Liabilities
	(in thousands)
2016	$	3,463	$	324
2017		2,501		285
2018		2,222		276
2019		1,908		266
2020		1,435		209
Thereafter		6,655		893
	$	18,184	$	2,253