TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2012

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended December 31,
	2012			2011			2010
	(in thousands)
Financial statement ("book") net income (loss)	$	3,634		$	9,291		$	(1,359	)
Book/Tax differences from depreciation and amortization		51			(1,024	)		(643	)
Book/Tax differences on tax free exchanges		266			(7,707	)		—
Book/Tax differences from Investment Properties		198			(161	)		403
Increase (Decrease) in prepaid rent and allowances		(40	)		29			(204	)
Other		57			7			—
Taxable income (loss)	$	4,166		$	435		$	(1,803	)