FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2015

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 December 31, 2015 and 2014.



	December 31,
	2015			2014
	Carrying Amount ⁽¹⁾		Fair Value	Carrying Amount ⁽¹⁾	Fair Value
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	48	48	11	11
Cash held in escrow for 1031 exchange	—		—	698	698
Mortgage loans receivable	4,875		4,896	4,991	5,055
Interest rate swap assets	400		400	812	812
Financial Liabilities:
Secured debt	351,401		366,491	453,776	478,659
Unsecured debt	530,000		509,326	380,000	364,295
Unsecured bank credit facilities	150,836		150,670	99,401	99,638
Interest rate swap liabilities	3,960		3,960	3,314	3,314


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