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INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables)
 6 Months Ended
Jun. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Noncontrolling Interest In Individual Investee [Table Text Block]
The Operating Partnership has the following equity interests in the Opportunity Funds, Mervyns I and Mervyns II:
Entity
Equity Interest Held By Operating Partnership
Fund I and Mervyns I
22.2%
Fund II and Mervyns II
20.0%
Fund III
19.9%
Fund IV
21.5%
The Acadia Investors have noncontrolling interests in the individual investee LLC’s as follows:
 
 
 
Acadia Investors
Ownership % in:
Investment
Investee LLC
Acadia Investors
Entity
Investee
LLC
Underlying
entity(ies)
Mervyns
KLA/Mervyn’s, LLC
Mervyns I and Mervyns II
10.5%
5.8%
Mervyns Add-On investments
KLA/Mervyn’s, LLC
Mervyns I and Mervyns II
10.5%
5.8%
Albertsons
KLA A Markets, LLC
Mervyns II
18.9%
5.7%
Albertsons Add-On investments
KLA A Markets, LLC
Mervyns II
20.0%
6.0%
Shopko
KLA-Shopko, LLC
Fund II
20.0%
2.0%
Marsh and Add-On investments
KLA Marsh, LLC
Fund II
20.0%
3.3%
Rex Stores
KLAC Rex Venture, LLC
Mervyns II
13.3%
13.3%
Schedule of Equity Method Investments [Table Text Block]
The following table summarizes activity related to the RCP Venture investments from inception through June 30, 2012:
(dollars in thousands)
 
 
 
Operating Partnership Share
Investment
Year Acquired
Invested
Capital
and Advances
 
Distributions
Invested
Capital
and Advances
 
Distributions
Mervyns
2004
$
26,058

$
45,966

$
4,901

$
11,251

Mervyns Add-On investments
2005/2008
6,517

3,558

1,046

819

Albertsons
2006
20,717

81,594

4,239

16,318

Albertsons Add-On investments
2006/2007
2,416

4,778

388

955

Shopko
2006
1,108

1,659

222

332

Marsh and Add-On investments
2006/2008
2,667

2,639

533

528

Rex Stores
2007
2,701

1,623

535

325

 
 
$
62,184

$
141,817

$
11,864

$
30,528
Schedule of Condensed Balance Sheet [Table Text Block]
The following Combined and Condensed Balance Sheets and Statements of Operations, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates.

(dollars in thousands)
June 30,
2012
 
December 31,
2011
Combined and Condensed Balance Sheets
 
 
 
Assets
 
 
 
Rental property, net
$
274,039

 
$
280,470

Investment in unconsolidated affiliates
107,667

 
156,421

Other assets
34,679

 
29,587

Total assets
$
416,385

 
$
466,478

Liabilities and partners’ equity
 

 
 

Mortgage notes payable
$
310,090

 
$
319,425

Other liabilities
24,318

 
16,902

Partners’ equity
81,977

 
130,151

Total liabilities and partners’ equity
$
416,385

 
$
466,478

Company’s investment in and advances to unconsolidated affiliates
$
75,495

 
$
84,568

Company's share of distributions in excess of income and investments in unconsolidated affiliates
$
(22,229
)
 
$
(21,710
)
Schedule of Condensed Income Statement [Table Text Block]
 
Three Months Ended
 
Six Months Ended
(dollars in thousands)
June 30,
2012
 
June 30,
2011
 
June 30,
2012
 
June 30,
2011
Combined and Condensed Statements of Operations
 
 
 
 
 
 
 
Total revenues
$
11,922

 
$
10,917

 
$
24,218

 
$
20,499

Operating and other expenses
4,362

 
3,528

 
8,816

 
7,294

Interest and other finance expense
4,613

 
4,242

 
9,251

 
8,258

Equity in earnings (losses) of unconsolidated affiliates
6,469

 
(1,370
)
 
4,846

 
(412
)
Depreciation and amortization
2,371

 
2,376

 
4,643

 
4,245

Gain on sale of property
3,402

 
—

 
3,402

 
—

Net income (loss)
$
10,447

 
$
(599
)
 
$
9,756

 
$
290

 
 
 
 
 
 
 
 
Company’s share of net income
$
4,689

 
$
160

 
$
4,731

 
$
110

Amortization of excess investment
(98
)
 
(97
)
 
(196
)
 
(195
)
Company’s equity in earnings (losses) of unconsolidated affiliates
$
4,591

 
$
63

 
$
4,535

 
$
(85
)