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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 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 December 31, 2017 and 2016.



	December 31,
	2017							2016
	Carrying Amount ⁽¹⁾				Fair Value			Carrying Amount ⁽¹⁾			Fair Value
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	16			16			522			522
Mortgage loans receivable	4,581				4,569			4,752			4,747
Interest rate swap assets	6,034				6,034			4,546			4,546
Financial Liabilities:
Unsecured bank credit facilities - variable rate ⁽²⁾	116,339				116,277			112,020			111,923
Unsecured bank credit facilities - fixed rate ⁽²⁾	80,000				80,003			80,000			79,998
Unsecured debt ⁽²⁾	715,000				703,871			655,000			623,147
Secured debt ⁽²⁾	200,354				206,408			258,594			266,585
Interest rate swap liabilities	695				695			2,578			2,578


(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.


(2)	Carrying amounts and fair values shown in the table exclude debt issuance costs (see Notes 6 and 7 for additional information).