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NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENT (Tables) | 12 Months Ended
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Dec. 31, 2012
Mortgage Loans on Real Estate [Abstract] |
Schedule of Notes Receivable | Notes receivable were as follows at December 31, 2012: ACADIA REALTY TRUST AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 5. Notes Receivable and Other Real Estate Related Investments, continued
Note Description |  | Effective interest rate (1) |  | Maturity date |  | Periodic payment terms |  | Prior liens |  | Face amount of notes |  | Carrying amount of notes |  | Accrued Interest
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Mortgage |  | 6.00% |  | 12/31/2013 |  | (2) |  | $ | — |  |  | $ | 10,250 |  |  | $ | 10,250 |  |  | $ | 54 |
First Mortgage |  | 8.00% |  | 12/31/2013 |  | (2) |  | — |  |  | 8,000 |  |  | 8,000 |  |  | — |
First Mortgage |  | 5.25% |  | Demand |  | (2) |  | — |  |  | 23,555 |  |  | 18,500 |  |  | 803 |
First Mortgage |  | 6.00% |  | 6/1/2013 |  | (2) |  | — |  |  | 12,609 |  |  | 12,333 |  |  | 319 |
First Mortgage |  | 11.00% |  | 1/1/2014 |  | (2) |  | — |  |  | 25,000 |  |  | 25,000 |  |  | — |
Construction |  | 20.51% |  | 12/31/2012 |  | (2) |  | — |  |  | 5,400 |  |  | 5,400 |  |  | 168 |
Individually less than 3% |  | 10.00% to 11.60% |  | 12/31/13 to Capital Event |  | (2) |  | — |  |  | 2,198 |  |  | 269 |  |  | 90 |
Sub-total first mortgages |  | 8.60% |  |  |  |  |  |  |  | 87,012 |  |  | 79,752 |  |  | 1,434 |
Zero Coupon |  | 24.00% |  | 1/3/2016 |  | (2) |  | 166,200 |  |  | 5,644 |  |  | 3,961 |  |  | — |
Mezzanine |  | 10.00% |  | 12/31/2013 |  | (2) |  | 85,835 |  |  | 9,089 |  |  | 9,089 |  |  | 176 |
Mezzanine |  | 15.00% |  | Capital Event |  | (2) |  | 13,265 |  |  | 3,834 |  |  | 3,834 |  |  | 1,135 |
Mezzanine |  | 15.00% |  | 11/9/2020 |  | (2) |  | — |  |  | 30,879 |  |  | 30,879 |  |  | — |
Individually less than 3% |  | 12.00% to 17.50% |  | 1/1/17 to Capital Event |  | (2) |  | 37,623 |  |  | 9,198 |  |  | 1,763 |  |  | — |
Sub-total other |  | 14.78% |  |  |  |  |  |  |  | 58,644 |  |  | 49,526 |  |  | 1,311 |
Total |  |  |  |  |  |  |  |  |  |  | $ | 145,656 |  |  | $ | 129,278 |  |  | $ | 2,745 |
Notes:
(1) | The effective interest rate includes points and exit fees.
(2) | Interest only payable monthly, principal due on maturity.
Schedule of Notes Receivable and Preferred Equity Investments Reconciliation | The following table reconciles notes receivable investments from January 1, 2010 to December 31, 2012:
|  | For the years ended December 31,
(dollars in thousands) |  | 2012 |  | 2011 |  | 2010
Beginning Balance |  | $ | 59,989 |  |  | $ | 89,202 |  |  | $ | 125,221 |
Additions during period: |  |  |  |  |  |  |  |  |
New mortgage loans |  | 108,629 |  |  | 34,758 |  |  | — |
Deductions during period: |  |  |  |  |  |  |  |  |
Collections of principal |  | (25,388 | ) |  | (56,517 | ) |  | (42,010 | )
Conversion to real estate through receipt of deed or through foreclosure |  | (14,000 | ) |  | — |  |  | — |
Reclass to investments in unconsolidated affiliates |  | — |  |  | (8,000 | ) |  | — |
Non-cash accretion of notes receivable |  | 453 |  |  | 786 |  |  | 6,164 |
Reserves |  | (405 | ) |  | (240 | ) |  | (93 | )
Other |  | — |  |  | — |  |  | (80 | )
Ending Balance |  | $ | 129,278 |  |  | $ | 59,989 |  |  | $ | 89,202 |
Schedule of Allowance for Credit Losses on Notes Receivable | The following table reconciles the allowance for notes receivable from December 31, 2010 to December 31, 2012:
| Allowance for
(dollars in thousands) | Notes Receivable
Balance at December 31, 2010 | $ | 3,036 |
Change in allowance, net | 240 |
Balance at December 31, 2011 | $ | 3,276 |
Change in allowance, net | 405 |
Balance at December 31, 2012 | $ | 3,681 |

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- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=7512638&loc=SL6953423-111524 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 + Details
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