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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of financial instrument carrying amounts and fair values

The table below summarizes the carrying amounts and fair value of these financial instruments as of March 31, 2016 and December 31, 2015.



		As of March 31, 2016								As of December 31, 2015
(Amounts in thousands)		Carrying Amount				Fair Value				Carrying Amount				Fair Value
Assets:
Cash and cash equivalents		$	162,354			$	162,354			$	168,983			$	168,983
Liabilities:
Mortgages payable⁽¹⁾		$	1,239,842			$	1,280,025			$	1,242,265			$	1,262,483

Schedule of interest rates used for fair value of mortgages payable

The following interest rates were used by the Company to estimate the fair value of mortgages payable:



	March 31, 2016				December 31, 2015
	Low		High		Low		High
Mortgages payable	2.1%		2.5%		2.0%		2.3%