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ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (Tables) | 3 Months Ended
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Mar. 31, 2014
Restructuring Cost and Reserve [Line Items] |
Schedule of Business Acquisitions, by Acquisition | During 2014, the Company acquired the following properties through its Core Portfolio and Fund IV as follows: Core Portfolio
(dollars in millions) |  |  |  |  |  |
Property | GLA | Percent Owned | Type | Month of Acquisition | Purchase Price | Location
11 E Walton | 6,738 |  | 100 | % | Street Retail | January | $ | 44.0 |  | Chicago, IL
61 Main Street | 3,400 |  | 100 | % | Street Retail | February | 7.3 |  | Westport, CT
865 W North Avenue | 16,000 |  | 100 | % | Street Retail | March | 14.8 |  | Chicago, IL
252-256 Greenwich Avenue | 9,172 |  | 100 | % | Street Retail | March | 24.5 |  | Greenwich, CT
Total | 35,310 |  |  |  |  | $ | 90.6 |  |
The Company expensed $0.7 million of acquisition costs for the three months ended March 31, 2014 related to the Core Portfolio. Fund IV
(dollars in millions) |  |  |  |  |  |
Property | GLA | Percent Owned | Type | Month of Acquisition | Purchase Price | Location
Broughton Street Portfolio | 55,565 |  | 50 | % | Street Retail | March | $ | 4.9 |  | Savannah, GA
Total | 55,565 |  |  |  |  | $ | 4.9 |  |
Combined Assets and Liabilities and Results of Operations of the Properties Classified as Discontinued Operations | The combined assets and liabilities and the results of operations of the properties classified as discontinued operations are summarized for each period presented as follows:
(dollars in thousands) |  |  |  |  |
BALANCE SHEETS |  | March 31, 2014 |  | December 31, 2013
ASSETS |  |  |  |  |
Net real estate |  | $ | 18,048 |  |  | $ | 17,991 |
Rents receivable, net |  | 33 |  |  | 565 |
Deferred charges, net |  | 38 |  |  | 38 |
Prepaid expenses and other assets |  | 243 |  |  | 1,840 |
Total assets of discontinued operations |  | $ | 18,362 |  |  | $ | 20,434 |
LIABILITIES |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 104 |  |  | $ | 1,473 |
Other liabilities |  | 2 |  |  | 1,034 |
Total liabilities of discontinued operations |  | $ | 106 |  |  | $ | 2,507 |
| Three Months Ended
(dollars in thousands) | March 31,
STATEMENT OF INCOME | 2013
Total revenues | $ | 6,180 |
Total expenses | 4,556 |
Operating income | 1,624 |
Income from discontinued operations attributable to noncontrolling interests | (1,591 | )
Income from discontinued operations attributable to Common Shareholders | $ | 33 |
Acquisitions In 2014 |
Restructuring Cost and Reserve [Line Items] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2014 which have yet to be finalized:
(dollars in thousands) | Preliminary Purchase Price Allocations
Land | $ | 23,865 |
Buildings and improvements | 71,586 |
Total consideration | $ | 95,451 |
Acquisitions in 2013 |
Restructuring Cost and Reserve [Line Items] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the preliminary allocations of the purchase prices of these properties as recorded as of December 31, 2013, and the finalized allocations as adjusted as of March 31, 2014:
(dollars in thousands) | Purchase Price Allocations as Originally Reported | Adjustments | Finalized Purchase Price Allocations
Land | $ | 22,182 |  | $ | (605 | ) | $ | 21,577 |
Buildings and improvements | 84,061 |  | (7,514 | ) | 76,547 |
Acquisition-related intangible assets (in Acquired lease intangibles, net) | — |  | 9,092 |  | 9,092 |
Acquisition-related intangible liabilities (in Acquired lease intangibles, net) | — |  | (973 | ) | (973 | )
Total consideration | $ | 106,243 |  | $ | — |  | $ | 106,243 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463 + Details
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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 + Details
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