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ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
General terms and operating partnership's equity interests | Following is a table summarizing the general terms and Operating Partnership's equity interests in the Funds and Mervyns I and II:
Entity | Formation Date | Operating Partnership Share of Capital | Committed Capital |  | Capital Called as of December 31, 2013 | Equity Interest Held By Operating Partnership | Preferred Return | Capital Returned as of December 31, 2013
Fund I and Mervyns I (1) | 9/2001 | 22.22 | % | $ | 90.0 |  |  | $ | 86.6 |  | 37.78 | % | 9 | % | $ | 86.6 |
Fund II and Mervyns II (2) | 6/2004 | 20.00 | % | 300.0 |  |  | 300.0 |  | 20.00 | % | 8 | % | 131.6 |
Fund III (3) | 5/2007 | 19.90 | % | 475.0 |  |  | 357.5 |  | 19.90 | % | 6 | % | 203.5 |
Fund IV | 5/2012 | 23.12 | % | 540.6 |  |  | 95.9 |  | 23.12 | % | 6 | % | — |
ACADIA REALTY TRUST AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. Organization, Basis of Presentation and Summary of Significant Accounting Policies, continued Notes: (1) Fund I and Mervyns I have returned all capital and preferred return. The Operating Partnership is now entitled to a Promote on all future cash distributions. (2) During 2013, a distribution of $47.1 million was made to the Fund II investors, including the Operating Partnership. This amount is subject to recontribution to Fund II until December 2016, if needed to fund the on-going development and construction of existing projects. (3) Original committed capital of Fund III was $502.5 million. During 2012, this amount was reduced to $475.0 million.

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- Definition Tabular disclosure of an entity's capital units or capital shares, including the value of capital units or capital shares, units authorized, units outstanding and other information necessary to a fair presentation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04.16) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996 + Details
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