TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2016

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended
	December 31,
	2016		2015		2014
	(in thousands)
Financial statement (“book”) net income	$	4,951	$	3,773	$	1,025
Book/Tax differences from depreciation and amortization		(1,411)		(2,513)		(2,884)
Book/Tax differences on tax free exchanges		1,257		501		(827)
Book/Tax differences from Investment Properties		(279)		(74)		307
Increase (Decrease) in prepaid rent and allowances		375		413		269
Other		—		6		2
Taxable income (loss)	$	4,893	$	2,106	$	(2,108)