DIVIDENDS AND DISTRIBUTIONS PAYABLE

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Dividends and Distributions Payable

Dividends and Distributions Payable

On November 4, 2014, the Board of Trustees declared a regular quarterly cash dividend of $0.24 per Common Share which was paid on January 15, 2015 to holders of record as of December 31, 2014. In addition, on December 5, 2014, the Board of Trustees declared a special cash dividend of $0.30 per Common Share with the same record and payment date as the regular quarterly dividend. The special dividend is a result of the taxable capital gains for 2014 arising from property dispositions, primarily the sale of Fund III and IV’s Lincoln Road Portfolios.