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ACQUISITION AND DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Dec. 31, 2013
Acquisition and Disposition of Properties and Discontinued Operations [Abstract] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Fund III During 2013, the Company acquired the following properties through its Core Portfolio and Funds as follows: Core Portfolio
(dollars in millions) |  |  |  |  |  |
Property | GLA | Percent Owned | Type | Month of Acquisition | Purchase Price | Location
664 N Michigan Avenue | 18,141 |  | 100% | Street Retail | March | $ | 86.6 |  | Chicago, IL
8-12 East Walton | 8,244 |  | 100% | Street Retail | June | 22.5 |  | Chicago, IL
3200-3204 M Street | 7,000 |  | 100% | Street Retail | July | 11.8 |  | Washington, D.C.
868 Broadway | 2,031 |  | 100% | Street Retail | December | 13.5 |  | New York, NY
313-315 Bowery | 6,600 |  | 100% | Street Retail | December | 5.5 |  | New York, NY
120 West Broadway (1) | 13,988 |  | 100% | Street Retail | December | 37.0 |  | New York, NY
Total | 56,004 |  |  |  |  | $ | 176.9 |  |
The following table summarizes the preliminary allocation of the purchase price of properties as recorded as of December 31, 2012, and the finalized allocation of the purchase price as adjusted as of December 31, 2013: ACADIA REALTY TRUST AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2. Acquisition and Disposition of Properties and Discontinued Operations, continued
(dollars in thousands) | Preliminary Purchase Price Allocation | Adjustments | Finalized Purchase Price Allocation
Land | $ | 86,826 |  | $ | 30,312 |  | $ | 117,138 |
Buildings and Improvements | 226,650 |  | (32,440 | ) | 194,210 |
Acquisition-related intangible assets (in Acquired lease intangibles, net) | — |  | 31,965 |  | 31,965 |
Acquisition-related intangible liabilities (in Acquired lease intangibles, net) | — |  | (27,592 | ) | (27,592 | )
Above-below market debt assumed (included in Mortgages and other notes payable) | — |  | (2,245 | ) | (2,245 | )
Total Consideration | $ | 313,476 |  | $ | — |  | $ | 313,476 |
Fund IV
(dollars in millions) |  |  |  |  |  |
Property | GLA | Percent Owned | Type | Month of Acquisition | Purchase Price | Location
2819 Kennedy Boulevard (1) | 53,680 |  | 90 | % | Shopping Center | June | $ | 9.0 |  | North Bergen, NJ
Promenade at Manassas (1) | 265,442 |  | 90 | % | Shopping Center | July | 38.0 |  | Manassas, VA
Paramus Plaza | 152,118 |  | 50 | % | Shopping Center | September | 18.9 |  | Paramus, NJ
1151 Third Avenue | 12,288 |  | 100 | % | Street Retail | October | 18.0 |  | New York, NY
Lake Montclair | 105,850 |  | 100 | % | Shopping Center | October | 19.3 |  | Dumfries, VA
938 W North Avenue | 35,000 |  | 80 | % | Street Retail | November | 20.0 |  | Chicago, IL
Total | 624,378 |  |  |  |  | $ | 123.2 |  |
The following table summarizes both the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2013:
(dollars in thousands) | Preliminary Purchase Price Allocation
Land | $ | 65,829 |
Buildings and Improvements | 253,724 |
Total Consideration | $ | 319,553 |
Schedule Of Property Dispositions [Table Text Block] | During 2013, the Company disposed of the following properties: Core Portfolio During 2013, the Company sold the A&P Shopping Center, a 62,741 square foot center, anchored by an A&P supermarket, located in Boonton, New Jersey, for $18.4 million, which resulted in a gain of $6.5 million. Fund II
(dollars in thousands) Property |  | Month Sold |  | Sales Price |  | Gain/(Loss) |  | GLA
Pelham Storage |  | May |  | $ | 11,900 |  |  | $ | 4,226 |  |  | 490,900 |
Fordham Place |  | November |  | 133,900 |  |  | (806 | ) |  | 262,407 |
Pelham Plaza |  | November |  | 58,500 |  |  | 8,894 |  |  | 228,493 |
Total |  |  |  | $ | 204,300 |  |  | $ | 12,314 |  |  | 981,800 |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | The combined assets and liabilities as of December 31, 2013 and 2012, and the results of operations of the properties classified as discontinued operations for the years ended December 31, 2013, 2012 and 2011, are summarized as follows: ACADIA REALTY TRUST AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2. Acquisition and Disposition of Properties and Discontinued Operations, continued
(dollars in thousands) |  |  |
BALANCE SHEETS |  | December 31, 2013 | December 31, 2012
ASSETS |  |  |  |  |
Net real estate |  | $ | 17,991 |  | $ | 210,633 |
Rents receivable, net |  | 565 |  | 10,484 |
Deferred charges, net |  | 38 |  | 8,531 |
Prepaid expenses and other assets |  | 1,840 |  | 8,629 |
Total assets of discontinued operations |  | $ | 20,434 |  | $ | 238,277 |
LIABILITIES |  |  |  |  |
Mortgages payable |  | $ | — |  | $ | 124,005 |
Accounts payable and accrued expenses |  | 1,473 |  | 4,735 |
Other liabilities |  | 1,034 |  | 7,416 |
Total liabilities of discontinued operations |  | $ | 2,507 |  | $ | 136,156 |
|  | Years ended December 31,
(dollars in thousands) |  | 2013 |  | 2012 |  | 2011
STATEMENTS OF INCOME |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 20,920 |  |  | $ | 56,902 |  |  | $ | 57,613 |
Total expenses |  | 14,102 |  |  | 44,895 |  |  | 48,680 |
Operating income |  | 6,818 |  |  | 12,007 |  |  | 8,933 |
Impairment of assets |  | (6,683 | ) |  | — |  |  | (6,925 | )
Loss on debt extinguishment |  | (800 | ) |  | (2,541 | ) |  | — |
Gain on sale of properties |  | 18,802 |  |  | 71,203 |  |  | 46,830 |
Income from discontinued operations |  | 18,137 |  |  | 80,669 |  |  | 48,838 |
Income from discontinued operations attributable to noncontrolling interests |  | (12,048 | ) |  | (64,582 | ) |  | (15,894 | )
Income from discontinued operations attributable to Common Shareholders |  | $ | 6,089 |  |  | $ | 16,087 |  |  | $ | 32,944 |

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