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MORTGAGES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2011

Mortgage Loans on Real Estate [Abstract]

Schedule of Line of Credit Facilities [Table Text Block]

The following table sets forth certain information pertaining to our secured credit facilities:

(dollars in thousands) Borrower		Total amount of credit facility				Amount borrowed as of December 31, 2010				Net borrowings (repayments) during the year ended December 31, 2011				Amount borrowed as of December 31, 2011				Letters of credit outstanding as of December 31, 2011				Amount available under credit facilities as of December 31, 2011
Acadia Realty, LP		$	64,498			$	1,000			$	—			$	1,000			$	4,561			$	58,937
Fund II		40,000				40,000				—				40,000				—				—
Fund III		150,286				171,450				(35,371		)		136,079				—				14,207
Total		$	254,784			$	212,450			$	(35,371	)		$	177,079			$	4,561			$	73,144

Schedule of Debt [Table Text Block]

The following table summarizes the Company’s mortgage and other secured indebtedness as of December 31, 2011 and December 31, 2010:

(dollars in thousands)

Description of Debt and Collateral

12/31/2011

12/31/2010

Interest Rate at December 31, 2011

Maturity

Payment Terms

Mortgage notes payable – variable-rate

Canarsie Plaza

$

56,476

$

40,243

Greater of 6.50% or 4.30% (LIBOR+4.00%)

9/11/2012

Interest only monthly.

Liberty Avenue

9,395

10,000

3.55% (LIBOR+3.25%)

9/1/2012

Interest only monthly.

Fordham Place

84,277

85,910

Greater of 1.5%+3.5% or 5.00% (LIBOR+3.50%)

9/30/2012

Monthly principal and interest.

Tarrytown Shopping Center

8,260

8,427

1.95% (LIBOR+1.65%)

10/30/2012

Interest only monthly.

161st Street

28,900

28,900

5.80% (LIBOR+5.50%)

4/1/2013

Interest only monthly.

CityPoint

20,650

20,650

2.80% (LIBOR+2.50%)

8/12/2013

Interest only monthly.

Six self-storage properties

42,000

—

Greater of 4.65% or 4.45% (LIBOR+4.15%)

8/31/2013

Interest only monthly until 10/2012; monthly principal and interest thereafter.

Pelham Manor

34,000

31,554

3.05% (LIBOR+2.75%)

12/1/2013

Monthly principal and interest.

Branch Shopping Plaza

12,761

13,932

2.55% (LIBOR+2.25%)

9/30/2014

Monthly principal and interest.

125 Main Street, Westport

12,500

—

2.65% (LIBOR+2.35%)

9/30/2014

Interest only monthly.

Cortlandt Towne Center

50,000

50,000

2.20% (LIBOR+1.90%)

10/26/2015

Monthly principal and interest.

Village Commons Shopping Center

9,310

9,305

1.70% (LIBOR+1.40%)

6/30/2018

Monthly principal and interest.

Sub-total mortgage notes payable

368,529

298,921

Secured credit facilities – variable-rate:

Fund III revolving subscription line of credit (2)

136,079

171,450

2.55% (LIBOR+2.25%)

10/10/2012

Interest only monthly.

Six Core Portfolio properties

1,000

1,000

1.55% (LIBOR+1.25%)

12/1/2012

Annual principal and monthly interest.

Fund II term loan

40,000

40,000

3.20% (LIBOR+2.90%)

12/22/2014

Interest only monthly.

Sub-total secured credit facilities

177,079

212,450

Interest rate swaps (1)

(57,027

)

(71,535

)

Total variable-rate debt

488,581

439,836

ACADIA REALTY TRUST AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

8. Mortgages Payable, continued

(dollars in thousands)
Description of Debt and Collateral		12/31/2011				12/31/2010				Interest Rate at December 31, 2011		Maturity		Payment Terms
Mortgage notes payable – fixed-rate
Five Self-Storage properties		—				41,500
Chestnut Hill		—				9,338
Clark Diversey		4,491				4,625				6.35%		7/1/2014		Monthly principal and interest.
New Loudon Center		13,882				14,119				5.64%		9/6/2014		Monthly principal and interest.
CityPoint		20,000				20,000				7.25%		11/1/2014		Interest only quarterly.
Crescent Plaza		17,287				17,539				4.98%		9/6/2015		Monthly principal and interest.
Pacesetter Park Shopping Center		11,941				12,132				5.12%		11/6/2015		Monthly principal and interest.
Elmwood Park Shopping Center		33,738				34,197				5.53%		1/1/2016		Monthly principal and interest.
The Gateway Shopping Center		20,308				20,500				5.44%		3/1/2016		Monthly principal and interest.
Walnut Hill Plaza		23,458				23,500				6.06%		10/1/2016		Monthly principal and interest.
239 Greenwich Avenue		26,000				26,000				5.42%		2/11/2017		Interest only monthly.
Merrillville Plaza		26,250				26,250				5.88%		8/1/2017		Interest only monthly until 7/2012; monthly principal and interest thereafter.
216th Street		25,500				25,500				5.80%		10/1/2017		Interest only monthly.
Atlantic Avenue		11,540				11,540				7.34%		1/1/2020		Interest only upon drawdown on construction loan until 1/2015; monthly principal and interest thereafter.
A&P Shopping Plaza		7,874				8,033				6.40%		11/1/2032		Monthly principal and interest.
Interest rate swaps (1)		57,027				71,535				5.41%
Total fixed-rate debt		299,296				366,308
Unamortized premium		33				68
Total		$	787,910			$	806,212

(1) Represents the amount of the Company’s variable-rate debt that has been fixed through certain cash flow hedge transactions. (Note 10).

(2) The Fund III revolving subscription line of credit is secured by unfunded investor capital commitments.

Schedule of Maturities of Long-term Debt [Table Text Block]

The scheduled principal repayments of all indebtedness including Convertible Notes (Note 9) as of December 31, 2011 are as follows (does not include $33,000 net valuation premium on assumption of debt):

(dollars in thousands)
2012	$	298,335
2013	128,059
2014	104,667
2015	79,710
2016	74,722
Thereafter	103,314
	$	788,807

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