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INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables) | 12 Months Ended
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Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The following table summarizes activity related to the RCP Venture investments from inception through December 31, 2014:
|  |  |  |  |  |  |  | Operating Partnership Share
Investment |  | Year Acquired |  | Invested Capital and Advances |  | Distributions |  | Invested Capital and Advances |  | Distributions
Mervyns |  | 2004 |  | $ | 26,058 |  |  | $ | 48,547 |  |  | $ | 4,901 |  |  | $ | 11,801 |
Mervyns Add-On investments |  | 2005/2008 |  | 7,547 |  |  | 5,789 |  |  | 1,252 |  |  | 1,284 |
Albertsons |  | 2006 |  | 20,717 |  |  | 81,594 |  |  | 4,239 |  |  | 16,318 |
Albertsons Add-On investments |  | 2006/2007 |  | 2,416 |  |  | 4,864 |  |  | 388 |  |  | 972 |
Shopko |  | 2006 |  | 1,110 |  |  | 2,460 |  |  | 222 |  |  | 492 |
Marsh and Add-On investments |  | 2006/2008 |  | 2,667 |  |  | 2,639 |  |  | 533 |  |  | 528 |
Rex Stores |  | 2007 |  | 2,701 |  |  | 3,729 |  |  | 535 |  |  | 747 |
Total |  |  |  | $ | 63,216 |  |  | $ | 149,622 |  |  | $ | 12,070 |  |  | $ | 32,142 |
Schedule of Noncontrolling Interest In Individual Investee | The Acadia Investors have non-controlling interests in the individual investee LLC’s as follows:
|  |  |  |  |  | Acadia Investors Ownership % in:
Investment |  | Investee LLC |  | Acadia Investors Entity |  | Investee LLC |  | Underlying entity(s)
Mervyns |  | KLA/Mervyn's, L.L.C |  | Mervyns I and Mervyns II |  | 10.5% |  | 5.8%
Mervyns Add-On Investments |  | KLA/Mervyn's, L.L.C |  | Mervyns I and Mervyns II |  | 10.5% |  | 5.8%
Albertsons |  | KLA A Markets, LLC |  | Mervyns II |  | 18.9% |  | 5.7%
Albertsons Add-On Investments |  | KLA A Markets, LLC |  | Mervyns II |  | 20.0% |  | 6.0%
Shopko |  | KA-Shopko, LLC |  | Fund II |  | 20.0% |  | 2.0%
Marsh and Add-On Investments |  | KA Marsh, LLC |  | Fund II |  | 20.0% |  | 3.3%
Rex Stores |  | KLAC Rex Venture, LLC |  | Mervyns II |  | 13.3% |  | 13.3%
Schedule of Condensed Balance Sheet | The following combined and condensed Balance Sheets and Statements of Income, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates.
(dollars in thousands) |  | December 31, 2014 |  | December 31, 2013
Combined and Condensed Balance Sheets |  |  |  |  |  |
Assets: |  |  |  |  |  |
Rental property, net |  | $ | 387,739 |  |  | $ | 380,268 |
Real estate under development |  | 60,476 |  |  | 5,573 |
Investment in unconsolidated affiliates |  | 11,154 |  |  | 63,745 |
Other assets |  | 62,862 |  |  | 66,895 |
Total assets |  | $ | 522,231 |  |  | $ | 516,481 |
Liabilities and partners’ equity: |  |  |  |  |  |
Mortgage notes payable |  | $ | 315,897 |  |  | $ | 265,982 |
Other liabilities |  | 66,116 |  |  | 43,733 |
Partners’ equity |  | 140,218 |  |  | 206,766 |
Total liabilities and partners’ equity |  | $ | 522,231 |  |  | $ | 516,481 |
Company’s investment in and advances to unconsolidated affiliates |  | $ | 184,352 |  |  | $ | 181,322 |
Company's share of distributions in excess of income and investments in unconsolidated affiliates |  | $ | (12,564 | ) |  | $ | (8,701 | )
Schedule of Condensed Income Statement |
|  | Years Ended December 31,
(dollars in thousands) |  | 2014 |  | 2013 |  | 2012
Combined and Condensed Statements of Income |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 44,422 |  |  | $ | 51,638 |  |  | $ | 49,729 |
Operating and other expenses |  | (17,069 | ) |  | (18,700 | ) |  | (18,919 | )
Interest expense |  | (9,363 | ) |  | (8,943 | ) |  | (18,547 | )
Equity in (losses) earnings of unconsolidated affiliates |  | (328 | ) |  | 13,651 |  |  | 583 |
Depreciation and amortization |  | (10,967 | ) |  | (10,599 | ) |  | (9,551 | )
Loss on debt extinguishment |  | (187 | ) |  | — |  |  | (293 | )
Gain on disposition of properties |  | 142,615 |  |  | — |  |  | 3,402 |
Net income |  | $ | 149,123 |  |  | $ | 27,047 |  |  | $ | 6,404 |
Company’s share of net income |  | $ | 111,970 |  |  | $ | 12,774 |  |  | $ | 1,971 |
Amortization of excess investment |  | (392 | ) |  | (392 | ) |  | (392 | )
Company’s equity in earnings of unconsolidated affiliates |  | $ | 111,578 |  |  | $ | 12,382 |  |  | $ | 1,579 |

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