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NOTES RECEIVABLE, PREFERRED EQUITY, AND OTHER REAL ESTATE RELATED INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2013
Mortgage Loans on Real Estate [Abstract] |
Schedule of Notes Receivable | Notes receivable were as follows at December 31, 2013: ACADIA REALTY TRUST AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 5. Notes Receivable, Preferred Equity and Other Real Estate Related Investments, continued
Note Description |  | Effective interest rate (1) |  | First Priority Liens |  | Net Carrying Amount of Notes Receivable as of December 31, 2013 |  | Net Carrying Amount of Notes Receivable as of December 31, 2012 |  | Maturity Date |  | Extension Options
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
First Mortgage Loan |  | 5.5% |  | $ | — |  |  | $ | 42,000 |  |  | $ | 25,000 |  |  | 1/31/2014 |  | — |
First Mortgage Loan |  | 7.7% |  | — |  |  | 12,000 |  |  | — |  |  | 1/1/2015 |  | — |
Zero Coupon Loan 2 |  | 24.0% |  | 166,200 |  |  | 4,431 |  |  | 3,961 |  |  | 1/3/2016 |  | — |
Preferred Equity |  | 8.1% |  | 20,855 |  |  | 13,000 |  |  | — |  |  | 9/1/2017 |  | — |
Mezzanine Loan |  | 15.0% |  | — |  |  | 30,879 |  |  | 30,879 |  |  | 11/9/2020 |  | — |
First Mortgage Loan |  | 8.0% |  | — |  |  | 6,400 |  |  | 8,000 |  |  | Demand |  | — |
Mezzanine Loan 3 |  | 10.0% |  | 89,566 |  |  | 9,089 |  |  | 9,089 |  |  | Demand |  | — |
First Mortgage Loan |  | 5.3% |  | — |  |  | — |  |  | 18,500 |  |  | Demand |  | — |
Mezzanine Loan 4 |  | 15.0% |  | 16,668 |  |  | 3,834 |  |  | 3,834 |  |  | Upon Capital Event |  | — |
Construction Loan |  | 20.5% |  | — |  |  | — |  |  | 5,400 |  |  | 12/31/2012 |  | — |
First Mortgage Loan |  | 12.0% |  | — |  |  | — |  |  | 12,333 |  |  | 12/1/2013 |  | — |
First Mortgage Loan |  | 6.0% |  | — |  |  | — |  |  | 10,250 |  |  | 12/31/2013 |  | — |
Individually less than 3% 5 |  | 2.5% + LIBOR to 17.5% |  | 37,623 |  |  | 5,023 |  |  | 2,032 |  |  | 12/31/2014 to Capital Event |  | — |
Total |  |  |  |  |  | $ | 126,656 |  |  | $ | 129,278 |  |  |  |  |
Notes: (1) The effective interest rate includes origination and exit fees. (2) The principal balance for this accrual only loan is increased by the interest accrued (3) Comprised of three cross-collateralized loans from one borrower, which are non-performing (4) Non-performing loan (5) Consists of four loans, two of which are non-performing, with an aggregate face value of $5.7 million, of which $3.7 million has been reserved
Schedule of Notes Receivable and Preferred Equity Investments Reconciliation | The following table reconciles notes receivable investments from January 1, 2011 to December 31, 2013:
|  | For the years ended December 31,
(dollars in thousands) |  | 2013 |  | 2012 |  | 2011
Beginning Balance |  | $ | 129,278 |  |  | $ | 59,989 |  |  | $ | 89,202 |
Additions during period: |  |  |  |  |  |  |  |  |
New investments |  | 45,000 |  |  | 108,629 |  |  | 34,758 |
Deductions during period: |  |  |  |  |  |  |  |  |
Collections of principal |  | (29,583 | ) |  | (25,388 | ) |  | (56,517 | )
Conversion to real estate through receipt of deed or through foreclosure |  | (18,500 | ) |  | (14,000 | ) |  | — |
Reclass to investments in unconsolidated affiliates |  | — |  |  | — |  |  | (8,000 | )
Non-cash accretion of notes receivable |  | 461 |  |  | 453 |  |  | 786 |
Reserves |  | — |  |  | (405 | ) |  | (240 | )
Ending Balance |  | $ | 126,656 |  |  | $ | 129,278 |  |  | $ | 59,989 |
Schedule of Allowance for Credit Losses on Notes Receivable | The following table reconciles the activity in the allowance for notes receivable from December 31, 2011 to December 31, 2013:
| Allowance for
(dollars in thousands) | Notes Receivable
Balance at December 31, 2011 | $ | 3,276 |
Additional reserves | 405 |
Recoveries | — |
Charge-offs and reclassifications | — |
Balance at December 31, 2012 | $ | 3,681 |
Additional reserves | — |
Recoveries | — |
Charge-offs and reclassifications | — |
Balance at December 31, 2013 | $ | 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=28368275&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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