TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2017

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended
	December 31,
	2017		2016		2015
	(in thousands)
Financial statement (“book”) net income	$	6,938	$	4,951	$	3,773
Book/Tax differences from depreciation and amortization		(3,097)		(1,411)		(2,513)
Book/Tax differences on tax free exchanges		1,344		1,257		501
Book/Tax differences from Investment Properties		—		(279)		(74)
Increase (Decrease) in prepaid rent and allowances		253		375		413
Other		—		—		6
Taxable income (loss)	$	5,438	$	4,893	$	2,106