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DEBT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2016

DEBT OBLIGATIONS

Schedule of Adjustments to the Company's previously reported consolidated balance sheet amounts

        Consistent with the adoption of ASU 2015-03 (see Note 2), the following table depicts the adjustments to the Company's previously reported consolidated balance sheet amounts at December 31, 2015 (amounts in thousands):

		As Previously Reported			As Adjusted
Unamortized deferred financing costs, net		$	3,914		$	—
Escrow, deposits and other assets and receivables			4,233			4,268
Total assets			650,378			646,499
Mortgages payable			334,428			331,055
Line of credit			18,250			17,744
Total liabilities			387,952			384,073
Total liabilities and equity			650,378			646,499

Schedule of Mortgages payable, net

        The following table details the Mortgages payable, net, balances per the consolidated balance sheets at December 31, 2016 and 2015 (amounts in thousands):

		December 31,
		2016			2015
Mortgages payable, gross		$	399,192		$	334,428
Unamortized deferred financing costs			(4,294	)		(3,373	)
​	​	​	​	​	​	​	​
Mortgages payable, net		$	394,898		$	331,055
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of principal repayments

        Scheduled principal repayments during the next five years and thereafter are as follows (amounts in thousands):

Year Ending December 31,
2017		$	19,089
2018			20,522
2019			14,236
2020			14,930
2021			20,490
Thereafter			309,925
​	​	​	​	​
Total		$	399,192
​	​	​	​	​
​	​	​	​	​

Schedule of Line of credit, net

        The following table details the Line of credit, net, balances per the consolidated balance sheets at December 31, 2016 and 2015 (amounts in thousands):

		December 31,
		2016			2015
Line of credit, gross		$	10,000		$	18,250
Unamortized deferred financing costs			(936	)		(506	)
​	​	​	​	​	​	​	​
Line of credit, net		$	9,064		$	17,744
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

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