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ACQUISITION AND DISPOSITION OF REAL ESTATE AND DISCONTINUED OPERATIONS | 6 Months Ended
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Jun. 30, 2011
Acquisitions And Disposition OfProperties And Discontinued Operations [Text Block] | 4. ACQUISITION AND DISPOSITION OF REAL ESTATE AND DISCONTINUED OPERATIONS Acquisitions During June 2011, the Company acquired 15 Mercer Street, a 6,000 square foot single-tenant retail condominium located in New York, New York for $4.8 million. During May 2011, the Company acquired 651-671 West Diversey Parkway, a 44,000 square foot retail property located in Chicago, Illinois, for $28.4 million. During April 2011, the Company, through Fund III, acquired The Heritage Shops at Millennium Park, a 105,000 square foot property located in the East Loop section of downtown Chicago, Illinois, for $31.6 million. During February 2011, Fund III, in a venture with an unaffiliated partner, acquired three retail properties (“Lincoln Road”), aggregating 61,400 square feet located in the Lincoln Road area of South Miami Beach, Florida for $51.9 million, which included the assumption of $20.6 million of in-place mortgage debt. Fund III has a 95% interest in these properties. During February 2011, Fund III, in a venture with an unaffiliated partner, acquired a 64,600 square foot single-tenant retail property (“White Oak”) located in Silver Spring, Maryland for $9.8 million. Fund III has a 90% interest in the property. Discontinued Operations The Company reports properties held-for-sale and properties sold during the periods as discontinued operations. The results of operations of discontinued operations are reflected as a separate component within the accompanying Consolidated Financial Statements for all periods presented. During May 2011, the Company sold the Ledgewood Mall, a 517,000 square foot, unencumbered enclosed mall located in Ledgewood, New Jersey, for $37.0 million. The sale resulted in a gain of $28.6 million. During January 2011, the Company completed the sale of a Fund II leasehold interest in the Neiman Marcus location at Oakbrook Center, located in Oak Brook, Illinois, for $8.2 million. The sale resulted in a gain of $3.9 million. The combined assets and liabilities as of December 31, 2010 and results of operations of the properties classified as discontinued operations for the three and six months ended June 30, 2011 and 2010, respectively are summarized as follows:
BALANCE SHEET |  | December 31, |
(dollars in thousands) |  | 2010 |
ASSETS |  |  |  |
Net real estate |  | $ | 9,420 |
Rents receivable, net |  |  | 492 |
Deferred charges, net of amortization |  |  | 2,015 |
Prepaid expenses and other assets, net |  |  | 122 |
Total assets of discontinued operations |  | $ | 12,049 |
LIABILITIES |  |  |  |
Accounts payable and accrued expenses |  | $ | 43 |
Other liabilities |  |  | 129 |
Total liabilities of discontinued operations |  | $ | 172 |
STATEMENTS OF OPERATIONS |  | Three months ended June 30, |  | Six months ended June 30, |
(dollars in thousands) |  | 2011 |  | 2010 |  | 2011 |  | 2010 |
Total revenues |  | $ | 468 |  | $ | 1,465 |  | $ | 1,803 |  | $ | 3,023 |
Total expenses |  |  | 283 |  |  | 992 |  |  | 1,255 |  |  | 2,320 |
Operating income |  |  | 185 |  |  | 473 |  |  | 548 |  |  | 703 |
Gain on sale of property |  |  | 28,576 |  |  | — |  |  | 32,498 |  |  | — |
Income from discontinued operations |  |  | 28,761 |  |  | 473 |  |  | 33,046 |  |  | 703 |
Income from discontinued operations attributable to noncontrolling interests |  |  | (332 | ) |  | (52 | ) |  | (3,514 | ) |  | (102 | )
Income from discontinued operations attributable to Common Shareholders |  | $ | 28,429 |  | $ | 421 |  | $ | 29,532 |  | $ | 601 |

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- Definition Disclosure relating to acquisitions and disposition of properties during the period. Also includes, disclosure relating to discontinued operations. + Details
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Namespace Prefix: | akr
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration