INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables)

3 Months Ended

Mar. 31, 2012

Equity Method Investments and Joint Ventures [Abstract]

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

The Operating Partnership has the following equity interests in the Opportunity Funds, Mervyns I and Mervyns II:

Entity	Equity Interest Held By Operating Partnership
Fund I and Mervyns I	22.2%
Fund II and Mervyns II	20.0%
Fund III	19.9%

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(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 March 31, 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		2,461		388		492
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		1,063		535		213
		$	62,184	$	138,940	$	11,864	$	29,953

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.

(dollars in thousands)	March 31, 2012			December 31, 2011
Combined and Condensed Balance Sheets
Assets
Rental property, net	$	280,227		$	280,470
Investment in unconsolidated affiliates	133,514			156,421
Other assets	30,932			29,587
Total assets	$	444,673		$	466,478
Liabilities and partners’ equity
Mortgage note payable	$	318,757		$	319,425
Other liabilities	17,133			16,902
Partners’ equity	108,783			130,151
Total liabilities and partners’ equity	$	444,673		$	466,478
Company’s investment in and advances to unconsolidated affiliates	$	85,099		$	84,568
Company's share of distributions in excess of share of income and investments in unconsolidated affiliates	$	(21,863	)	$	(21,710	)

Schedule of Condensed Income Statement [Table Text Block]

	Three Months Ended
(dollars in thousands)	March 31, 2012			March 31, 2011
Combined and Condensed Statements of Operations
Total revenues	$	12,296		$	9,582
Operating and other expenses	4,454			3,766
Interest expense	4,638			4,016
Equity in (losses) earnings of unconsolidated affiliates	(1,623		)	958
Depreciation and amortization	2,272			1,869
Net (loss) income	$	(691	)	$	889
Company’s share of net income (loss)	$	42		$	(50	)
Amortization of excess investment	(98		)	(98		)
Company’s equity in (losses) of unconsolidated affiliates	$	(56	)	$	(148	)