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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2014
Fair Value Disclosures [Abstract]  
Carrying amounts and fair value of financial instruments
The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments in accordance with ASC 820 at September 30, 2014 and December 31, 2013.
 
September 30, 2014
 
December 31, 2013
 
Carrying Amount (1)
 
Fair Value
 
Carrying Amount (1)
 
Fair Value
 
(In thousands)
Financial Assets:
 
 
 
 
 
 
 
Cash and cash equivalents
$
323

 
323

 
8

 
8

 Cash held in escrow for 1031 exchange
7,553

 
7,553

 
—

 
—

   Mortgage loans receivable, net of discount                                 
8,760

 
8,968

 
8,870

 
9,040

   Interest rate swap assets                             
1,361

 
1,361

 
1,692

 
1,692

Financial Liabilities:
 

 
 

 
 

 
 

Secured debt
456,511

 
482,341

 
499,793

 
519,390

Unsecured debt
380,000

 
377,918

 
305,000

 
294,860

 Unsecured bank credit facilities
84,520

 
84,753

 
88,952

 
89,140

   Interest rate swap liabilities                                     
1,601

 
1,601

 
244

 
244

(1) Carrying amounts shown in the table are included in the Consolidated Balance Sheets under the indicated captions, except as explained in the notes below.