INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables)

9 Months Ended

Sep. 30, 2012

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Noncontrolling Interest In Individual Investee [Table Text Block]

Following is the Preferred Return and Operating Partnership's equity interests in the Opportunity Funds and RCP Venture:

Entity	Equity Interest Held By Operating Partnership	Preferred Return
Fund I and Mervyns I	22.2%	9.0%
Fund II and Mervyns II	20.0%	8.0%
Fund III	19.9%	6.0%
Fund IV	23.1%	6.0%

The Acadia Investors have noncontrolling interests in the individual investee LLC’s as follows:

			Acadia Investors Ownership % in:
Investment	Investee LLC	Acadia Investors Entity	Investee LLC	Underlying entity(ies)
Mervyns	KLA/Mervyn’s, LLC	Mervyns I and Mervyns II	10.5%	5.8%
Mervyns Add-On investments	KLA/Mervyn’s, LLC	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	KLA-Shopko, LLC	Fund II	20.0%	2.0%
Marsh and Add-On investments	KLA Marsh, LLC	Fund II	20.0%	3.3%
Rex Stores	KLAC Rex Venture, LLC	Mervyns II	13.3%	13.3%

Schedule of Equity Method Investments [Table Text Block]

The following table summarizes activity related to the RCP Venture investments from inception through September 30, 2012:

(dollars in thousands)						Operating Partnership Share
Investment	Year Acquired	Invested Capital and Advances		Distributions		Invested Capital and Advances		Distributions
Mervyns	2004	$	26,058	$	45,966	$	4,901	$	11,251
Mervyns Add-On investments	2005/2008	6,517		3,558		1,046		819
Albertsons	2006	20,717		81,594		4,239		16,318
Albertsons Add-On investments	2006/2007	2,416		4,778		388		955
Shopko	2006	1,108		1,659		222		332
Marsh and Add-On investments	2006/2008	2,667		2,639		533		528
Rex Stores	2007	2,701		1,623		535		325
		$	62,184	$	141,817	$	11,864	$	30,528

Schedule of Condensed Balance Sheet [Table Text Block]

The following Combined and Condensed Balance Sheets and Statements of Operations, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates.

5. INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (continued)

(dollars in thousands)	September 30, 2012			December 31, 2011
Combined and Condensed Balance Sheets
Assets
Rental property, net	$	296,390		$	280,470
Investment in unconsolidated affiliates	89,099			156,421
Other assets	40,554			29,587
Total assets	$	426,043		$	466,478
Liabilities and partners’ equity
Mortgage notes payable	$	318,568		$	319,425
Other liabilities	28,323			16,902
Partners’ equity	79,152			130,151
Total liabilities and partners’ equity	$	426,043		$	466,478
Company’s investment in and advances to unconsolidated affiliates	$	88,572		$	84,568
Company's share of distributions in excess of income and investments in unconsolidated affiliates	$	(22,409	)	$	(21,710	)

Schedule of Condensed Income Statement [Table Text Block]

	Three Months Ended						Nine Months Ended
(dollars in thousands)	September 30, 2012			September 30, 2011			September 30, 2012			September 30, 2011
Combined and Condensed Statements of Operations
Total revenues	$	11,903		$	10,290		$	36,121		$	30,789
Operating and other expenses	4,977			3,699			13,793			10,993
Interest and other finance expense	4,603			4,274			13,854			12,532
Equity in earnings of unconsolidated affiliates	1,398			13,472			6,244			13,060
Depreciation and amortization	2,573			2,222			7,216			6,467
Gain on sale of property	—			—			3,402			—
Net income	$	1,148		$	13,567		$	10,904		$	13,857
Company’s share of net income	$	(2,440	)	$	3,208		$	2,291		$	3,318
Amortization of excess investment	(98		)	(98		)	(294		)	(293		)
Company’s equity in (losses) earnings of unconsolidated affiliates	$	(2,538	)	$	3,110		$	1,997		$	3,025