TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2015

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended
	December 31,
	2015		2014		2013
	(in thousands)
Financial statement (“book”) net income	$	3,773	$	1,025	$	5,655
Book/Tax differences from depreciation and amortization		(2,513)		(2,884)		(300)
Book/Tax differences on tax free exchanges		501		(827)		(4,670)
Book/Tax differences from Investment Properties		(74)		307		400
Increase (Decrease) in prepaid rent and allowances		413		269		175
Other		6		2		50
Taxable income (loss)	$	2,106	$	(2,108)	$	1,310