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INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables) | 9 Months Ended
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Sep. 30, 2012
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Noncontrolling Interest In Individual Investee [Table Text Block] | Following is the Preferred Return and Operating Partnership's equity interests in the Opportunity Funds and RCP Venture:
Entity | Equity Interest Held By Operating Partnership | Preferred Return
Fund I and Mervyns I | 22.2% | 9.0%
Fund II and Mervyns II | 20.0% | 8.0%
Fund III | 19.9% | 6.0%
Fund IV | 23.1% | 6.0%
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 September 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.
5. | INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (continued)
(dollars in thousands) | September 30, 2012 |  | December 31, 2011
Combined and Condensed Balance Sheets |  |  |
Assets |  |  |
Rental property, net | $ | 296,390 |  |  | $ | 280,470 |
Investment in unconsolidated affiliates | 89,099 |  |  | 156,421 |
Other assets | 40,554 |  |  | 29,587 |
Total assets | $ | 426,043 |  |  | $ | 466,478 |
Liabilities and partners’ equity |  |  |  |  |
Mortgage notes payable | $ | 318,568 |  |  | $ | 319,425 |
Other liabilities | 28,323 |  |  | 16,902 |
Partners’ equity | 79,152 |  |  | 130,151 |
Total liabilities and partners’ equity | $ | 426,043 |  |  | $ | 466,478 |
Company’s investment in and advances to unconsolidated affiliates | $ | 88,572 |  |  | $ | 84,568 |
Company's share of distributions in excess of income and investments in unconsolidated affiliates | $ | (22,409 | ) |  | $ | (21,710 | )
Schedule of Condensed Income Statement [Table Text Block] |
| Three Months Ended |  | Nine Months Ended
(dollars in thousands) | September 30, 2012 |  | September 30, 2011 |  | September 30, 2012 |  | September 30, 2011
Combined and Condensed Statements of Operations |  |  |  |  |  |  |
Total revenues | $ | 11,903 |  |  | $ | 10,290 |  |  | $ | 36,121 |  |  | $ | 30,789 |
Operating and other expenses | 4,977 |  |  | 3,699 |  |  | 13,793 |  |  | 10,993 |
Interest and other finance expense | 4,603 |  |  | 4,274 |  |  | 13,854 |  |  | 12,532 |
Equity in earnings of unconsolidated affiliates | 1,398 |  |  | 13,472 |  |  | 6,244 |  |  | 13,060 |
Depreciation and amortization | 2,573 |  |  | 2,222 |  |  | 7,216 |  |  | 6,467 |
Gain on sale of property | — |  |  | — |  |  | 3,402 |  |  | — |
Net income | $ | 1,148 |  |  | $ | 13,567 |  |  | $ | 10,904 |  |  | $ | 13,857 |
Company’s share of net income | $ | (2,440 | ) |  | $ | 3,208 |  |  | $ | 2,291 |  |  | $ | 3,318 |
Amortization of excess investment | (98 | ) |  | (98 | ) |  | (294 | ) |  | (293 | )
Company’s equity in (losses) earnings of unconsolidated affiliates | $ | (2,538 | ) |  | $ | 3,110 |  |  | $ | 1,997 |  |  | $ | 3,025 |

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- Definition Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
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