FAIR VALUE MEASUREMENT (Tables)

3 Months Ended

Mar. 31, 2018

FAIR VALUE MEASUREMENT

Carrying Value and Estimated Fair Value of Company's Financial Instruments

	March 31, 2018				December 31, 2017
	Carrying				Carrying
	Value		Fair Value		Value		Fair Value
	(in thousands)
Financial liabilities:
Mortgage notes payable, net	$	391,167	$	389,775	$	394,843	$	396,261
Fair value of interest rate swaps	$	52	$	52	$	65	$	65

Schedule of Fair Value of Liabilities on Recurring Basis

	Level 1		Level 2		Level 3		Total
	(in thousands)
March 31, 2018
Fair value of interest rate swaps	$	—	$	52	$	—	$	52
December 31, 2017
Fair value of interest rate swaps	$	—	$	65	$	—	$	65

Fair Value of Company's Financial Assets and Liabilities

	Level 1		Level 2		Level 3		Total
	(in thousands)
March 31, 2018
Mortgage notes payable, net	$	—	$	—	$	389,775	$	389,775
December 31, 2017
Mortgage notes payable, net	$	—	$	—	$	396,261	$	396,261