FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on 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 December 31, 2014:

(dollars in thousands)	Level 1		Level 2		Level 3
Assets
Derivative financial instruments	$	—	$	226	$	—
Liabilities
Derivative financial instruments	$	—	$	4,567	$	—

Fair Value, by Balance Sheet Grouping

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:

	December 31, 2014				December 31, 2013
(dollars in thousands)	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Notes Receivable and Preferred Equity Investments	$	102,286	$	102,286	$	126,656	$	126,656
Mortgage, Convertible Notes and Other Notes Payable	$	1,130,481	$	1,141,371	$	1,039,997	$	1,056,457