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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2017
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 March 31, 2017 and December 31, 2016.
 
March 31, 2017
 
December 31, 2016
 
Carrying Amount (1)
 
Fair Value
 
Carrying Amount (1)
 
Fair Value
 
(In thousands)
Financial Assets:
 
 
 
 
 
 
 
Cash and cash equivalents
$
44

 
44

 
522

 
522

   Mortgage loans receivable                                 
4,720

 
4,720

 
4,752

 
4,747

   Interest rate swap assets                             
5,243

 
5,243

 
4,546

 
4,546

Financial Liabilities:
 

 
 

 
 

 
 

 Unsecured bank credit facilities - variable rate (2)
120,236

 
120,127

 
112,020

 
111,923

 Unsecured bank credit facilities - fixed rate (2)
80,000

 
79,999

 
80,000

 
79,998

Unsecured debt (2)
655,000

 
630,892

 
655,000

 
623,147

Secured debt (2)
255,060

 
263,226

 
258,594

 
266,585

   Interest rate swap liabilities                                     
1,865

 
1,865

 
2,578

 
2,578

(1) Carrying amounts shown in the table are included on the Consolidated Balance Sheets under the indicated captions, except as explained in the notes below.
(2) Carrying amounts and fair values shown in the table exclude debt issuance costs (see Note 9 for additional information).