INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables)

12 Months Ended

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