TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2014

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended December 31,
	2014			2013			2012
	(in thousands)
Financial statement ("book") net income	$	1,025		$	5,655		$	3,634
Book/Tax differences from depreciation and amortization		(2,884	)		(300	)		51
Book/Tax differences on tax free exchanges		(827	)		(4,670	)		266
Book/Tax differences from Investment Properties		307			400			198
Increase (Decrease) in prepaid rent and allowances		269			175			(40	)
Other		2			50			57
Taxable income (loss)	$	(2,108	)	$	1,310		$	4,166