FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Financial Instruments Measured at Fair Value on Recurring Basis

The following table presents financial instruments measured at fair value on a recurring basis:

(in thousands)	Level 1		Level 2		Level 3		Total     Fair Value
September 30, 2014
Liabilities
Derivative instruments	$	-	$	1,029	$	-	$	1,029
Total liabilities measured at fair value	$	-	$	1,029	$	-	$	1,029
December 31, 2013
Assets
Derivative instruments	$	-	$	2,613	$	-	$	2,613
Total assets measured at fair value	$	-	$	2,613	$	-	$	2,613

Carrying Value and Fair Value of Certain Financial Instruments

The table below includes fair values for certain financial instruments for which it is practicable to estimate fair value. The carrying values and fair values of these financial instruments were as follows:

	September 30, 2014				December 31, 2013
(in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Notes receivable	$	3,612	$	3,615	$	3,612	$	3,625
Derivative instruments		-		-		2,613		2,613
Liabilities
Lines of credit		308,000		308,387		250,000		250,658
Unsecured term loans		500,000		503,471		500,000		503,388
Mortgage notes		1,137,897		1,163,939		1,126,631		1,122,602
Derivative instruments		1,029		1,029		-		-