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CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of guarantees

The following table represents the Operating Partnership's guarantees of unconsolidated affiliates' debt as reflected in the accompanying consolidated balance sheets as of December 31, 2017 and 2016:

		As of December 31, 2017														Obligation recorded to reflect guaranty
Unconsolidated Affiliate		Company's Ownership Interest		Outstanding Balance				Percentage Guaranteed by the Operating Partnership		Maximum Guaranteed Amount				Debt Maturity Date (1)		12/31/2017				12/31/2016
West Melbourne I, LLC - Phase I (2)		50%		$	42,247			20%		$	8,449			Feb-2018	(3)	$	86			$	86
West Melbourne I, LLC - Phase II (2)		50%		16,317				20%		3,263				Feb-2018	(3)	33				33
Port Orange I, LLC		50%		57,088				20%		11,418				Feb-2018	(3)	116				116
Ambassador Infrastructure, LLC		65%		11,035				100%	(4)	11,035				Aug-2020		177				177
Shoppes at Eagle Point, LLC		50%		5,977				100%	(5)	36,400				Oct-2020	(6)	364				—
EastGate Storage, LLC		50%		—				100%	(7)	6,500				Dec-2022		65				—
								Total guaranty liability								$	841			$	412

(1) Excludes any extension options.

(2) The loan is secured by Hammock Landing - Phase I and Hammock Landing - Phase II, respectively.

(3) The loan was extended subsequent to December 31, 2017. See Note 19 for more information.

(4) In 2017, the loan was amended and modified to extend the maturity date as well as the terms of the guaranty. See Note 5 for more information.

(5) The Company received a 1% fee for this guaranty when the loan was issued in October 2017. The guaranty will be reduced to 35% once construction is complete.

(6) The loan has one two-year extension option, at the joint venture's election, for an outside maturity date of October 2022.

(7) Once construction is complete, the guaranty will be reduced to 50%. The guaranty will be further reduced to 25% once certain debt and operational metrics are met.

Schedule of future obligations under operating leases

The future obligations under these operating leases at December 31, 2017, are as follows:

2018		$	622
2019		629
2020		635
2021		639
2022		467
Thereafter		12,121
		$	15,113

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

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