FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Company's fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of March 31, 2014:

(dollars in thousands)	Level 1		Level 2		Level 3
Assets
Derivative financial instruments (Note 7)	$	—	$	2,041	$	—
Liabilities
Derivative financial instruments (Note 7)	$	—	$	2,532	$	—

Fair value of financial instruments, Assets and Liabilities

The Company has determined the estimated fair values of the following financial instruments within Level 2 of the hierarchy by discounting future cash flows utilizing a discount rate equivalent to the rate at which similar financial instruments would be originated at the reporting date:

(dollars in thousands)	March 31, 2014				December 31, 2013
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Notes Receivable and Preferred Equity Investments	$	119,639	$	119,639	$	126,656	$	126,656
Mortgage, Convertible Notes and Other Notes Payable	$	1,108,684	$	1,126,650	$	1,039,997	$	1,056,457