2.4.0.80013 - Disclosure - Fair Value Measurementstruefalsefalse1false falsefalseFrom2013-01-01to2013-06-30http://www.sec.gov/CIK0001397807duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_FairValueDisclosuresAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Fair Value Disclosures [Abstract]2false 2us-gaap_FairValueDisclosuresTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse007. FAIR VALUE MEASUREMENTS           GAAP emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. GAAP requires the use of observable market data, when available, in making fair value measurements. Observable inputs are inputs that the market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of ours. When market data inputs are unobservable, we utilize inputs that we believe reflect our best estimate of the assumptions market participants would use in pricing the asset or liability. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. As a basis for considering market participant assumptions in fair value measurements, GAAP establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entitys own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The three levels of inputs used to measure fair value are as follows: <table border="0" cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="font-size: 1px"> <td style="width: 10%; vertical-align: top">   </td> <td style="width: 90%; vertical-align: top">   </td> </tr> <tr> <td style="vertical-align: top">   </td> <td style="vertical-align: top"> Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities that the company has the ability to access. </td> </tr> <tr> <td style="vertical-align: top">   </td> <td style="vertical-align: top">   </td> </tr> <tr> <td style="vertical-align: top">   </td> <td style="vertical-align: top"> Level 2 Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. </td> </tr> <tr> <td style="vertical-align: top">   </td> <td style="vertical-align: top">   </td> </tr> <tr> <td style="vertical-align: top">   </td> <td style="vertical-align: top"> Level 3 Unobservable inputs for the asset or liability, which are typically based on the companys own assumptions, as there is little, if any, related market activity. </td> </tr> </table>           The following table presents our assets and liabilities and related valuation inputs within the fair value hierarchy utilized to measure fair value as of June 30, 2013, and December 31, 2012 (in thousands): <table border="0" cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="font-size: 1px"> <td style="width: 62%; vertical-align: bottom">   </td> <td style="width: 3%; vertical-align: bottom">   </td> <td style="width: 1%; vertical-align: bottom">   </td> <td style="width: 8%; vertical-align: bottom">   </td> <td style="width: 3%; vertical-align: bottom">   </td> <td style="width: 1%; vertical-align: bottom">   </td> <td style="width: 7%; vertical-align: bottom">   </td> <td style="width: 3%; vertical-align: bottom">   </td> <td style="width: 1%; vertical-align: bottom">   </td> <td style="width: 7%; vertical-align: bottom">   </td> <td style="width: 1%; vertical-align: bottom">   </td> </tr> <tr> <td style="vertical-align: bottom"> June 30, 2013 </td> <td style="vertical-align: bottom">   </td> <td colspan="2" style="vertical-align: bottom; border-bottom: BLACK 1px solid"> Level 1 </td> <td style="vertical-align: bottom">   </td> <td colspan="2" style="vertical-align: bottom; border-bottom: BLACK 1px solid"> Level 2 </td> <td style="vertical-align: bottom">   </td> <td colspan="2" style="vertical-align: bottom; border-bottom: BLACK 1px solid"> Level 3 </td> <td style="vertical-align: bottom">   </td> </tr> <tr> <td style="vertical-align: bottom"> Fixed-rate notes payable </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom"> $ </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom"> $ </td> <td style="vertical-align: bottom"> 185,299 </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom"> $ </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom">   </td> </tr> <tr> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom">   </td> </tr> <tr> <td style="vertical-align: bottom"> December 31, 2012 </td> <td style="vertical-align: bottom">   </td> <td colspan="2" style="vertical-align: bottom; border-bottom: BLACK 1px solid"> Level 1 </td> <td style="vertical-align: bottom">   </td> <td colspan="2" style="vertical-align: bottom; border-bottom: BLACK 1px solid"> Level 2 </td> <td style="vertical-align: bottom">   </td> <td colspan="2" style="vertical-align: bottom; border-bottom: BLACK 1px solid"> Level 3 </td> <td style="vertical-align: bottom">   </td> </tr> <tr> <td style="vertical-align: bottom"> Fixed-rate notes payable </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom"> $ </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom"> $ </td> <td style="vertical-align: bottom"> 196,112 </td> <td style="vertical-align: bottom">   </td> <td style="vertical-align: bottom"> $ </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom">   </td> </tr> </table>           Our notes payable consist of both variable-rate and fixed-rate notes; however, our only variable rate debt at June 30, 2013, is the $75 Million Facility. We entered into the $75 Million Facility in August 2012 and therefore believe that the applicable margin represents the best estimate of fair value and, accordingly, its fair value is equal to its carrying value as of June 30, 2013, and December 31, 2012. In determining the fair value of our fixed-rate notes, we determine the appropriate Treasury Bill Rate based on the remaining time to maturity for each of the debt instruments. We then add the appropriate yield spread to the Treasury Bill Rate. The yield spread is a risk premium estimated by investors to account for credit risk involved in debt financing. The spread is typically estimated based on the property type and loan-to-value ratio of the debt instrument. The result is an estimate of the market interest rate a typical investor would expect to receive given the underlying subject asset (property type) and remaining time to maturity. We believe the fair value of our notes payable is classified in Level 2 of the fair value hierarchy. Fixed-rate loans assumed in connection with real estate acquisitions are recorded in the accompanying consolidated financial statements at fair value at the time of acquisition. falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13537-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13504-108611 false0Fair Value MeasurementsfalseFair Value MeasurementsUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://amreitinc.com/role/DisclosureFairValueMeasurements12