DEBT (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Schedule of Mortgage Indebtness

The Company’s mortgage notes payable consisted of the following (dollars in thousands):

Interest Rate Type	Book Value as of June 30, 2014		Book Value as of December 31, 2013		Weighted Average Effective Interest Rate at June 30, 2014		Maturity Date
Fixed Rate	$	125,400	$	54,688	3.96	%	May 2031 - August 2051
Variable Rate	—		86,640		NA		NA
	$	125,400	$	141,328	3.96	%

Schedule of Maturities of Debt

The following is a schedule of maturities for the Company’s outstanding debt as of June 30, 2014 (in thousands): 

	Mortgage Indebtedness		Senior Notes		Total
July 1, 2014 through December 31, 2014	$	1,377	$	—	$	1,377
2015	2,823		—		2,823
2016	2,917		—		2,917
2017	3,013		—		3,013
2018	3,114		—		3,114
Thereafter	112,156		550,000		662,156
	$	125,400	$	550,000	$	675,400