Acadia Realty Trust (AKR) 10-Q 5 Nov 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 05, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'ACADIA REALTY TRUST	'
Entity Central Index Key	'0000899629	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	64,201,225

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Operating real estate	'	'
Land	$404,582	$336,251
Buildings and improvements	1,304,438	1,140,613
Construction in progress	7,977	4,836
Gross operating real estate	1,716,997	1,481,700
Less: accumulated depreciation	251,545	229,538
Net operating real estate	1,465,452	1,252,162
Real estate under development	398,727	337,353
Notes receivable and preferred equity investments, net	94,409	126,656
Investments in and advances to unconsolidated affiliates	123,693	181,322
Cash and cash equivalents	131,132	79,189
Cash in escrow	26,820	19,822
Restricted cash	49,281	109,795
Rents receivable, net	33,347	29,574
Deferred charges, net	29,745	30,775
Acquired lease intangibles, net	43,512	33,663
Prepaid expenses and other assets	58,533	44,212
Assets of discontinued operations	0	20,434
Total assets	2,454,651	2,264,957
LIABILITIES	'	'
Mortgage and other notes payable	1,141,066	1,039,997
Distributions in excess of income from, and investments in, unconsolidated affiliates	8,416	8,701
Accounts payable and accrued expenses	43,196	38,050
Dividends and distributions payable	14,864	13,455
Acquired lease intangibles, net	24,441	22,394
Other liabilities	20,334	18,265
Liabilities of discontinued operations	0	2,507
Total liabilities	1,252,317	1,143,369
Shareholders' Equity	'	'
Common shares, $.001 par value, authorized 100,000,000 shares; issued and outstanding 60,081,109 and 55,643,068 shares, respectively	60	56
Additional paid-in capital	783,791	665,301
Accumulated other comprehensive (loss) income	-1,554	1,132
Retained earnings	58,954	37,747
Total shareholders’ equity	841,251	704,236
Noncontrolling interests	361,083	417,352
Total equity	1,202,334	1,121,588
Total liabilities and equity	$2,454,651	$2,264,957

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	60,081,109	55,643,068
Common stock, shares outstanding	60,081,109	55,643,068

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Rental income	$36,587	$30,604	$106,517	$90,097
Interest income	3,006	2,969	9,219	9,265
Expense reimbursements	7,386	7,333	24,008	20,979
Other	681	180	4,112	3,842
Total revenues	47,660	41,086	143,856	124,183
Operating Expenses	'	'	'	'
Property operating	5,170	5,468	18,031	14,513
Other operating	1,588	842	3,183	2,743
Real estate taxes	5,666	5,866	16,905	15,949
General and administrative	7,123	5,335	20,898	17,263
Depreciation and amortization	12,884	10,450	36,055	29,278
Total operating expenses	32,431	27,961	95,072	79,746
Operating income	15,229	13,125	48,784	44,437
Equity in earnings of unconsolidated affiliates	2,923	4,209	7,382	7,274
Gain on disposition of properties of unconsolidated affiliates	102,855	0	102,855	0
Impairment of asset	0	0	0	-1,500
Loss on debt extinguishment	0	0	-269	0
Gain on disposition of property	190	0	13,138	0
Interest and other finance expense	-10,142	-10,595	-30,327	-29,806
Income from continuing operations before income taxes	111,055	6,739	141,563	20,405
Income tax benefit (provision)	17	-186	-68	-57
Income from continuing operations	111,072	6,553	141,495	20,348
Discontinued Operations	'	'	'	'
Operating income from discontinued operations	0	2,589	0	5,394
Gain on disposition of property	0	0	560	4,191
Income from discontinued operations	0	2,589	560	9,585
Net income	111,072	9,142	142,055	29,933
Noncontrolling interests	'	'	'	'
Continuing operations	-82,508	2,342	-79,971	6,103
Discontinued operations	0	-1,999	-461	-8,171
Net (income) loss attributable to noncontrolling interests	-82,508	343	-80,432	-2,068
Net income attributable to Common Shareholders	$28,564	$9,485	$61,623	$27,865
Basic Earnings per Share	'	'	'	'
Income from continuing operations (in dollars per share)	$0.47	$0.16	$1.04	$0.47
Income from discontinued operations (in dollars per share)	$0	$0.01	$0	$0.03
Basic earnings per share (in dollars per share)	$0.47	$0.17	$1.04	$0.50
Diluted Earnings per Share	'	'	'	'
Income from continuing operations (in dollars per share)	$0.47	$0.16	$1.04	$0.47
Income from discontinued operations (in dollars per share)	$0	$0.01	$0	$0.03
Diluted earnings per share (in dollars per share)	$0.47	$0.17	$1.04	$0.50

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income	$111,072	$9,142	$142,055	$29,933
Other comprehensive (loss) income	'	'	'	'
Unrealized (loss) income on valuation of swap agreements	-81	-857	-5,189	2,247
Reclassification of realized interest on swap agreements	961	795	2,734	2,132
Other comprehensive income (loss)	880	-62	-2,455	4,379
Comprehensive income	111,952	9,080	139,600	34,312
Comprehensive (income) loss attributable to noncontrolling interests	-82,864	416	-80,663	-2,886
Comprehensive income attributable to Common Shareholders	$29,088	$9,496	$58,937	$31,426

CONSOLIDATED_STATEMENTS_OF_SHA

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)	Total	Total Shareholders’ Equity	Common Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2013	$1,121,588	$704,236	$56	$665,301	$1,132	$37,747	$417,352
Balance (in Shares) at Dec. 31, 2013	55,643,068	'	55,643,000	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)	'	'	99,000	'	'	'	'
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0	2,267	'	2,267	'	'	-2,267
Issuance of Common Shares, net of issuance costs (in Shares)	'	'	4,254,000	'	'	'	'
Issuance of Common Shares, net of issuance costs	114,641	114,641	4	114,637	'	'	'
Issuance of OP Units to acquire real estate	38,937	'	'	'	'	'	38,937
Dividends declared ($0.69 per Common Share)	-42,964	-40,416	'	'	'	-40,416	-2,548
Vesting of employee Restricted Share and LTIP awards (in Shares)	'	'	85,000	'	'	'	'
Employee and trustee stock compensation, net	6,554	1,586	'	1,586	'	'	4,968
Noncontrolling interest distributions	-211,339	'	'	'	'	'	-211,339
Noncontrolling interest contributions	35,317	'	'	'	'	'	35,317
Balance before adjustment towards comprehensive income (in Shares)	'	'	60,081,000	'	'	'	'
Balance before adjustment towards comprehensive income	1,062,734	782,314	60	783,791	1,132	-2,669	280,420
Comprehensive (loss) income:	'	'	'	'	'	'	'
Net income	142,055	61,623	'	'	'	61,623	80,432
Unrealized (loss) income on valuation of swap agreements	-5,189	-5,969	'	'	-5,969	'	780
Reclassification of realized interest on swap agreements	2,734	3,283	'	'	3,283	'	-549
Comprehensive income	139,600	58,937	'	'	-2,686	61,623	80,663
Balance at Sep. 30, 2014	$1,202,334	$841,251	$60	$783,791	($1,554)	$58,954	$361,083
Balance (in Shares) at Sep. 30, 2014	60,081,109	'	60,081,000	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_SHA1

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals) (USD $)	9 Months Ended
	Sep. 30, 2014
Common stock, dividends, per share, declared (in dollars per share)	$0.69

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income	$142,055	$29,933
Adjustments to reconcile net income to net cash provided by operating activities	'	'
Depreciation and amortization	36,055	32,054
Amortization of financing costs	2,214	2,801
Gain on disposition of property	-13,698	-4,191
Impairment of asset	0	1,500
Share-based compensation expense	5,542	4,590
Equity in earnings of unconsolidated affiliates	-7,382	-7,274
Gain on disposition of properties of unconsolidated affiliates	-102,855	0
Distributions of operating income from unconsolidated affiliates	7,780	4,644
Other, net	-2,106	-3,598
Changes in assets and liabilities	'	'
Cash in escrow	-7,148	-3,378
Rents receivable, net	-3,707	-4,315
Prepaid expenses and other assets	430	-19,894
Accounts payable and accrued expenses	4,209	5,845
Other liabilities	295	2,904
Net cash provided by operating activities	61,684	41,621
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Acquisition of real estate	-136,978	-140,075
Redevelopment and property improvement costs	-105,049	-79,549
Deferred leasing costs	-2,654	-4,226
Investments in and advances to unconsolidated affiliates	-59,529	-54,207
Return of capital from unconsolidated affiliates	30,604	88,403
Proceeds from disposition of properties of unconsolidated affiliates	188,870	0
Consolidation of previously unconsolidated investment	0	1,864
Collection of notes receivable	18,095	15,779
Issuance of notes receivable	-23,519	0
Proceeds from sale of properties, net	31,188	11,815
Net cash used in investing activities	-58,972	-160,196
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Principal payments on mortgage and other notes	-134,334	-140,037
Proceeds received from mortgage and other notes	229,000	360,943
Loan proceeds held as restricted cash	60,514	-134,392
Purchase of convertible notes payable	0	-550
Deferred financing and other costs	-2,120	-11,018
Capital contributions from noncontrolling interests	35,317	27,515
Distributions to noncontrolling interests	-213,496	-30,572
Dividends paid to Common Shareholders	-39,399	-32,471
Proceeds from issuance of Common Shares, net of issuance costs of $1,818 and $1,430, respectively	113,749	75,765
Net cash provided by financing activities	49,231	115,183
Increase (decrease) in cash and cash equivalents	51,943	-3,392
Cash and cash equivalents, beginning of period	79,189	91,813
Cash and cash equivalents, end of period	131,132	88,421
Supplemental disclosure of cash flow information	'	'
Cash paid during the period for interest, net of capitalized interest of $9,250 and $6,429, respectively	34,935	29,758
Cash paid for income taxes	316	281
Supplemental disclosure of non-cash investing activities	'	'
Acquisition of real estate through assumption of debt	29,794	0
Acquisition of real estate through issuance of OP Units	38,937	0
Acquisition of real estate through conversion of notes receivable	38,000	18,500
Disposition of real estate through cancellation of debt	-22,865	0
Consolidation of previously unconsolidated investment	'	'
Real estate, net	0	-118,484
Mortgage notes payable	0	166,200
Distributions in excess of income from, and investments in, unconsolidated affiliates	0	-10,298
Other assets and liabilities	0	-1,605
Noncontrolling interest	0	-33,949
Cash included in consolidation of previously unconsolidated investment	$0	$1,864

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Statement of Cash Flows [Abstract]	'	'
Stock issuance costs	$1,818	$1,430
Cash paid for capitalized interest	$9,250	$3,994

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and Basis of Presentation	'
	ORGANIZATION AND BASIS OF PRESENTATION
	Business and Organization
	Acadia Realty Trust (the "Trust") and subsidiaries (collectively, the "Company"), is a fully-integrated equity real estate investment trust ("REIT") focused on the acquisition, ownership, management and redevelopment of high-quality retail properties located in key street and urban retail corridors as well as suburban locations within high-barrier-to-entry, densely-populated metropolitan areas in the United States along the East Coast and in Chicago.
	All of the Company's assets are held by, and all of its operations are conducted through, Acadia Realty Limited Partnership (the "Operating Partnership") and entities in which the Operating Partnership owns an interest. As of September 30, 2014, the Trust controlled approximately 94% of the Operating Partnership as the sole general partner. As the general partner, the Trust is entitled to share, in proportion to its percentage interest, in the cash distributions and profits and losses of the Operating Partnership. The limited partners primarily represent entities or individuals that contributed their interests in certain properties or entities to the Operating Partnership in exchange for common or preferred units of limited partnership interest ("Common OP Units" or "Preferred OP Units") and employees who have been awarded restricted OP units ("LTIP Units") as long-term incentive compensation (Note 12). Limited partners holding Common OP Units are generally entitled to exchange their units on a one-for-one basis for common shares of beneficial interest of the Trust ("Common Shares").
	As of September 30, 2014, the Company has ownership interests in 84 properties within its core portfolio, which consist of those properties either wholly owned, or partially owned through joint venture interests, by the Operating Partnership, or subsidiaries thereof, not including those properties owned through its opportunity funds (the "Core Portfolio"). The Company also has ownership interests in 54 properties within its four opportunity funds, Acadia Strategic Opportunity Fund, L.P. ("Fund I"), Acadia Strategic Opportunity Fund II, LLC ("Fund II"), Acadia Strategic Opportunity Fund III LLC ("Fund III") and Acadia Strategic Opportunity Fund IV LLC ("Fund IV" and together with Funds I, II and III, the "Funds"). The 138 Core Portfolio and Fund properties consist of commercial properties, which are primarily high-quality urban and/or street retail properties, community shopping centers and mixed-use properties with a retail component. Fund I and Fund II also include investments in operating companies through Acadia Mervyn Investors I, LLC ("Mervyns I"), Acadia Mervyn Investors II, LLC ("Mervyns II") and, in certain instances, directly through Fund II, all on a non-recourse basis. These investments comprise and are referred to as the Company's Retailer Controlled Property Initiative ("RCP Venture").
	The Operating Partnership is the sole general partner or managing member of the Funds, Mervyns I and Mervyns II and earns fees or priority distributions for asset management, property management, construction, redevelopment, leasing and legal services. Cash from the Funds and RCP Venture is distributed pro-rata to the respective partners and members (including the Operating Partnership) until each receives a certain cumulative return ("Preferred Return"), and the return of all capital contributions. Thereafter, remaining cash flow is distributed 20% to the Operating Partnership ("Promote") and 80% to the partners or members (including the Operating Partnership).
	Following is a table summarizing the general terms and the Operating Partnership's equity interests in the Funds and Mervyns I and II:
	Entity	Formation Date	Operating Partnership Share of Capital		Committed Capital (2)		Capital Called as of September 30, 2014 (3)		Equity Interest Held By Operating Partnership		Preferred Return		Total Distributions as of September 30, 2014 (3)
	Fund I and Mervyns I (1)	Sep-01	22.22	%	$	90	$	86.6	37.78	%	9	%	$	192.3
	Fund II and Mervyns II (2)	Jun-04	20	%	300		300		20	%	8	%	131.6
	Fund III	May-07	19.9	%	475		372		19.9	%	6	%	362.2
	Fund IV	May-12	23.12	%	540.6		121		23.12	%	6	%	95.9
	1.    ORGANIZATION AND BASIS OF PRESENTATION (continued)
	Notes:
	(1) Fund I and Mervyns I have returned all capital and preferred return. The Operating Partnership is now entitled to a Promote on all future cash distributions.
	(2) During 2013, a distribution of $47.1 million was made to the Fund II investors, including the Operating Partnership. This amount is subject to recontribution to Fund II until December 2016, if needed to fund the on-going development and construction of existing projects.
	(3) Represents the total for the Funds, including the Operating Partnership and noncontrolling interests' shares.
	Basis of Presentation
	The consolidated financial statements include the consolidated accounts of the Company and its investments in entities in which the Company is presumed to have control in accordance with the consolidation guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC"). Investments in entities for which the Company has the ability to exercise significant influence but does not have financial or operating control are accounted for under the equity method of accounting. Accordingly, the Company's share of the net earnings (or losses) of entities accounted for under the equity method are included in consolidated net income under the caption, Equity in Earnings of Unconsolidated Affiliates. Investments in entities for which the Company does not have the ability to exercise any influence are accounted for under the cost method.
	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014. The information furnished in the accompanying consolidated financial statements reflects all adjustments that, in the opinion of management, are necessary for a fair presentation of the aforementioned consolidated financial statements for the interim periods. Such adjustments consisted of normal recurring items. These consolidated financial statements should be read in conjunction with the Company's 2013 Annual Report on Form 10-K, as filed with the SEC on February 26, 2014.
	Reclassifications
	Certain reclassifications have been made to the 2013 financial statements to conform to the 2014 presentation.
	Real Estate
	The Company reviews its long-lived assets for impairment when there is an event or change in circumstances that indicates that the carrying amount may not be recoverable. The Company measures and records impairment losses and reduces the carrying value of properties when indicators of impairment are present and the expected undiscounted cash flows related to those properties are less than their carrying amounts. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying cost to fair value, and for properties held-for-sale, the Company reduces its carrying value to the fair value less costs to dispose. Management does not believe that the carrying values of any of its properties are impaired as of September 30, 2014.
	1.    ORGANIZATION AND BASIS OF PRESENTATION (continued)
	Recent Accounting Pronouncements
	During June 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-12, "Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." ASU 2014-12 provides explicit guidance on how to account for share-based payments that require a specific performance target to be achieved which may be achieved after an employee completes the requisite service period. ASU 2014-12 is effective for periods beginning after December 15, 2015 and may be applied either prospectively or retrospectively. ASU 2014-12 is not expected to have a material impact on the Company's financial statements.
	During May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers", which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of its pending adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which the standard will be adopted in 2017.
	During April 2014, the FASB issued ASU No. 2014-08, "Presentation of Financial Statements and Property, Plant and Equipment; Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." ASU 2014-08 modifies the requirements for reporting discontinued operations. Under the amendments in ASU 2014-08, the definition of discontinued operation has been modified to only include those disposals of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. ASU 2014-08 shall be applied prospectively for periods beginning on or after December 15, 2014, with early adoption permitted. The Company adopted ASU 2014-08 for the quarter ended March 31, 2014. The Company has adopted this standard on a prospective basis for transactions that have occurred after the adoption date. The adoption of ASU 2014-08 did not have a material effect on the Company's financial position or results of operations.

EARNINGS_PER_COMMON_SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Common Share	'
	EARNINGS PER COMMON SHARE
	Basic earnings per Common Share is computed by dividing net income attributable to Common Shareholders by the weighted average Common Shares outstanding. At September 30, 2014, the Company has unvested LTIP Units (Note 12) which provide for non-forfeitable rights to dividend equivalent payments. Accordingly, these unvested LTIP Units are considered participating securities and are included in the computation of basic earnings per Common Share pursuant to the two-class method.
	Diluted earnings per Common Share reflects the potential dilution of the conversion of obligations and the assumed exercises of securities including the effects of restricted share unit ("Restricted Share Units") and share option awards issued under the Company's Share Incentive Plans (Note 12). The effect of the assumed conversion of 188 Series A Preferred OP Units into 25,067 Common Shares would be dilutive and therefore are included in the computation of diluted earnings per share for the three and nine months ended September 30, 2014. Conversely, the assumed conversion of these would be anti-dilutive and are therefore not included in the computation of diluted earnings per share for the three and nine months ended September 30, 2013.
	The effect of the conversion of Common OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Common Shares on a one-for-one basis. The income allocable to such units is allocated on this same basis and reflected as noncontrolling interests in the accompanying consolidated financial statements. As such, the assumed conversion of these units would have no net impact on the determination of diluted earnings per share. The conversion of the convertible notes payable is not included in the computation of basic and diluted earnings per share as such conversion, based on the current market price of the Common Shares, would be settled with cash.
	The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the periods indicated:
	2.    EARNINGS PER COMMON SHARE (continued)
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(dollars in thousands, except per share amounts)	2014			2013			2014			2013
	Numerator
	Income from continuing operations	$	28,564		$	8,895		$	61,524		$	26,451
	Less: net income attributable to participating securities	(490		)	(157		)	(1,083		)	(468		)
	Income from continuing operations, net of income attributable to participating securities	28,074			8,738			60,441			25,983
	Denominator
	Weighted average shares for basic earnings per share	59,686			55,460			57,898			54,697
	Effect of dilutive securities:
	Employee Restricted Share Units and share options	18			26			26			41
	Convertible Preferred OP Units	25			—			25			—
	Denominator for diluted earnings per share	59,729			55,486			57,949			54,738
	Basic earnings per Common Share from continuing operations attributable to Common Shareholders	$	0.47		$	0.16		$	1.04		$	0.47
	Diluted earnings per Common Share from continuing operations attributable to Common Shareholders	$	0.47		$	0.16		$	1.04		$	0.47

SHAREHOLDERS_EQUITY_AND_NONCON

SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS	9 Months Ended
	Sep. 30, 2014
Noncontrolling Interest [Abstract]	'
Shareholders' Equity And Noncontrolling Interests	'
	SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS
	For the nine months ended September 30, 2014, the Company issued 4.3 million Common Shares under its at-the-market ("ATM") equity program, generating gross proceeds of $116.5 million and net proceeds of $114.9 million.
	The net proceeds from the Company's ATM equity programs have been, and are anticipated to be, used by the Company primarily to fund acquisitions directly in the Core Portfolio and through its capital contributions to the Funds.
	In connection with the acquisition of a property, the Company issued 1.4 million Common OP Units.
	Noncontrolling interests represent the portion of equity in entities consolidated in the accompanying consolidated financial statements that the Company does not own. Such noncontrolling interests are reported on the Consolidated Balance Sheets within equity, separately from shareholders' equity, and include third party interests in the Company’s Funds and other entities. It also includes interests in the Operating Partnership which represent (i) the limited partners’ 2,863,331 and 1,457,467 Common OP Units at September 30, 2014 and December 31, 2013; (ii) 188 Series A Preferred OP Units at September 30, 2014 and December 31, 2013; and (iii) 675,367 and 496,047 LTIP Units at September 30, 2014 and December 31, 2013, respectively.

ACQUISITION_OF_REAL_ESTATE_AND

ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2014
ACQUISITION AND DISPOSITION OF REAL ESTATE AND DISCONTINUED OPERATIONS ABSTRACT	'
ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS	'
	ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS
	Acquisitions
	During 2014, the Company acquired the following properties through its Core Portfolio and Fund IV as follows:
	Core Portfolio
	(dollars in thousands)
	Property	GLA		Percent Owned		Type	Month of Acquisition	Purchase Price			Location	Assumption of Debt
	11 E. Walton	6,738		100	%	Street Retail	January	$	44,000		Chicago, IL	$	—
	61 Main Street	3,400		100	%	Street Retail	February	7,300			Westport, CT	—
	865 W. North Avenue	16,000		100	%	Street Retail	March	14,750			Chicago, IL	—
	252-256 Greenwich Avenue	9,172		100	%	Street Retail	March	24,450			Greenwich, CT	—
	152-154 Spring Street	2,936		90	%	Street Retail	April	38,000			New York, NY	—
	2520 Flatbush Avenue	29,114		100	%	Urban Retail	May	17,100			Brooklyn, NY	—
	Bedford Green	90,472		100	%	Shopping Center	July	46,750			Bedford Hills, NY	29,794
	131-135 Prince Street (1)	3,200		100	%	Street Retail	July	51,359			New York, NY	—
	Total	161,032						$	243,709			$	29,794
	The Company expensed $3.1 million of acquisition costs for the nine months ended September 30, 2014, related to the Core Portfolio.
	Note:
	(1) This acquisition was primarily funded with the issuance of 1.4 million Common OP Units.
	Fund IV
	(dollars in thousands)
	Property	GLA		Percent Owned		Type	Month of Acquisition	Purchase Price			Location
	Broughton Street Portfolio (1)	218,076		50	%	Street Retail	Various	$	33,856		Savannah, GA
	Eden Square (2)	235,508		90	%	Shopping Center	July	25,369			Bear, DE
	Total	453,584						$	59,225
	The Company expensed $3.0 million of acquisition costs for the nine months ended September 30, 2014, related to Fund IV.
	Notes:
	(1) The Broughton Street Portfolio consists of 24 properties. As the joint venture partner to these investments maintains operating control over the investments, these are accounted for under the equity method. Of the 24 properties, nine of them are accounted for as asset acquisitions as they were purchased vacant and require future development.
	(2) As the joint venture partner to this investment maintains operating control over this investment, it is accounted for under the equity method.
	4.    ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (continued)
	Acquisitions (continued)
	Purchase Price Allocations
	With the exception of the asset acquisitions within the Broughton Street Portfolio, the above acquisitions have been accounted for as business combinations. The purchase prices were allocated to the acquired assets and assumed liabilities based on their estimated fair values at the dates of acquisition. The preliminary measurements of fair value reflected below are subject to change. The Company expects to finalize the valuations and complete the purchase price allocations within one year from the dates of acquisition.
	The following table summarizes the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2014 which have yet to be finalized:
	(dollars in thousands)	Preliminary Purchase Price Allocations
	Land	$	73,459
	Buildings and improvements	220,375
	Total consideration	$	293,834
	During 2013, the Company acquired properties and recorded the preliminary allocations of the purchase prices to the assets acquired and liabilities assumed based on provisional measurements of fair value. During 2014, the Company finalized the allocations of the purchase prices and made certain measurement period adjustments. The following table summarizes the preliminary allocations of the purchase prices of these properties as recorded as of December 31, 2013, and the finalized allocations as adjusted as of September 30, 2014:
	(dollars in thousands)	Purchase Price Allocations as Originally Reported			Adjustments			Finalized Purchase Price Allocations
	Land	$	52,029		$	14,356		$	66,385
	Buildings and improvements	173,605			(28,988		)	144,617
	Acquisition-related intangible assets (in Acquired lease intangibles, net)	—			19,574			19,574
	Acquisition-related intangible liabilities (in Acquired lease intangibles, net)	—			(4,942		)	(4,942		)
	Total consideration	$	225,634		$	—		$	225,634
	4.    ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (continued)
	Dispositions
	During 2014, the Company disposed of the following properties:
	(dollars in thousands)
	Dispositions	GLA		Sale Price			Gain/Loss on Sale			Month Sold	Owner
	Walnut Hill (1)	297,905		$	—		$	12,402		March	Core
	Sheepshead Bay	96,418		20,200			1,399			April	Fund III
	City Point (2)	—		26,300			561			June	Fund II
	Other post-sale adjustments	—		—			(854		)	-	Fund II
	Union Plaza	—		340			190			July	Core
	Lincoln Road Portfolio (3)	61,443		141,800			86,600			August	Fund III
	Lincoln Road Portfolio (3)	54,453		200,200			54,642			August	Fund IV
	Total	510,219		$	388,840		$	154,940
	Notes:
	(1) This property was subject to $22.9 million of non-recourse debt and was foreclosed upon by the lender during March 2014, resulting in a $12.4 million gain.
	(2) Represents the sale of a portion of the residential air rights known as "Tower 2" associated with the Company's City Point development project.
	(3) Both the Fund III and Fund IV Lincoln Road Portfolios were unconsolidated and as such, the Company's share of gains related to these sales are included in gain on disposition of properties of unconsolidated affiliates in the 2014 Consolidated Statement of Income.
	Discontinued Operations
	Prior to the Company's adoption of ASU 2014-08, it reported properties held for sale or sold during the periods presented as discontinued operations. The results of discontinued operations are reflected as a separate component within the accompanying Consolidated Balance Sheets and Consolidated Statements of Income for all periods presented. As of September 30, 2014, Sheepshead Bay, a Fund III asset, which was previously reported as a discontinued operation was sold. As a result of the adoption of ASU 2014-08, the sale of operating real estate is no longer considered a discontinued operation so long as it is in the normal course of business and does not reflect a separate component of business. Therefore, the Company has no current assets or liabilities of discontinued operations.
The combined assets and liabilities and the results of operations of the properties classified as discontinued operations are summarized for each period presented as follows:
4.    ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (continued)
Discontinued Operations (continued)
(dollars in thousands)
BALANCE SHEET	31-Dec-13
ASSETS
Net real estate	$	17,991
Rents receivable, net	565
Deferred charges, net	38
Prepaid expenses and other assets	1,840
Total assets of discontinued operations	$	20,434
LIABILITIES
Accounts payable and accrued expenses	$	1,473
Other liabilities	1,034
Total liabilities of discontinued operations	$	2,507
	Three Months Ended								Nine Months Ended
(dollars in thousands)	September 30,								September 30,
STATEMENTS OF INCOME	2014				2013				2014				2013
Total revenues	$	—			$	3,641			$	—			$	15,854
Total expenses	—				1,052				—				10,460
Operating income	—				2,589				—				5,394
Gain on disposition of property	—				—				560				4,191
Income from discontinued operations	—				2,589				560				9,585
Income from discontinued operations attributable to noncontrolling interests	—				(1,999		)		(461		)		(8,171		)
Income from discontinued operations attributable to Common Shareholders	$	—			$	590			$	99			$	1,414

INVESTMENTS_IN_AND_ADVANCES_TO

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Investments in and Advances to Unconsolidated Affiliates	'
	INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES
	Core Portfolio
	The Company owns a 49% interest in a 311,000 square foot shopping center located in White Plains, New York ("Crossroads"), a 50% interest in an approximately 28,000 square foot retail portfolio located in Georgetown, Washington D.C. (the "Georgetown Portfolio") and a 22.22% interest in an approximately 20,000 square foot retail property located in Wilmington, Delaware ("Route 202 Shopping Center"). As the Company does not maintain financial or operational control, these investments are accounted for under the equity method.
	Funds
	RCP Venture
	The Funds, together with two unaffiliated partners formed an investment group, the RCP Venture, for the purpose of making investments in surplus or underutilized properties owned by retailers and, in some instances, the retailers' operating company. The RCP Venture is neither a single entity nor a specific investment and the Company has no control or rights with respect to the formation and operation of these investments. The Company has made these investments through its subsidiaries, Mervyns I, Mervyns II and Fund II, (together the "Acadia Investors"), all on a non-recourse basis. Through September 30, 2014, the Acadia Investors have made investments in Mervyns Department Stores ("Mervyns") and Albertsons including additional investments in locations that are separate from these original investments ("Add-On Investments"). Additionally, they have invested in Shopko, Marsh and Rex Stores Corporation (collectively "Other RCP Investments"). The Company accounts for its investments in Mervyns and Albertsons on the equity method as it has the ability to exercise significant influence, but does not have any rights with respect to financial or operating control. The Company accounts for its investments in its Add-On Investments and Other RCP Investments on the cost method as it does not have any influence over such entities' operating and financial policies nor any rights with respect to the control and operation of these entities. During the nine months ended September 30, 2014, the Company received distributions from Rex Stores of $1.2 million, Mervyns I of $0.7 million and Mervyns II of $0.8 million, of which the Operating Partnership's aggregate share was $0.5 million.
	The following table summarizes activity related to the RCP Venture investments from inception through September 30, 2014:
	(dollars in thousands)		Investment Group Share						Operating Partnership Share
	Investment	Year Acquired	Invested						Invested
			Capital			Distributions			Capital			Distributions
			and Advances						and Advances
	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			1,956			535			392
			$	63,216		$	147,849		$	12,070		$	31,787
	5.    INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (continued)
	Other Fund Investments
	During 2014, Fund IV, entered into a joint venture (the "Broughton Street Portfolio") with an unaffiliated entity, to acquire and operate properties located in Savannah, Georgia. Fund IV invested $7.8 million of equity and made a loan commitment of up to $69.0 million of which $25.9 million was funded to the joint venture as of September 30, 2014. As of September 30, 2014, the joint venture had acquired 24 properties for an aggregate purchase price of $33.9 million.
	In addition, Fund IV, through a joint venture with an unaffiliated entity, purchased a shopping center in Bear, Delaware for $25.4 million.
	During the third quarter of 2014, an unconsolidated joint venture between Fund III and an unaffiliated entity sold three properties located on Lincoln Road in Miami, Florida for an aggregate sales price of $141.8 million. In addition, an unconsolidated joint venture between Fund IV and an unaffiliated entity sold three properties located on Lincoln Road in Miami, Florida for an aggregate sales price of $200.2 million during the third quarter of 2014. The sales of the Fund III and Fund IV Lincoln Road portfolios resulted in gains of $86.7 million and $54.6 million, respectively.
	The unaffiliated partners in Fund II's investment in Albee Tower I Owners, Fund III's investments in Parkway Crossing, Arundel Plaza and the White City Shopping Center as well as Fund IV's investments in 1701 Belmont Avenue, 2819 Kennedy Boulevard, Promenade at Manassas, Eden Square and the Broughton Street Portfolio, maintain control over these entities. The Company accounts for these investments under the equity method as it has the ability to exercise significant influence, but does not have any rights with respect to financial or operating control.
	Self-Storage Management, a Fund III investment, was determined to be a variable interest entity. Management has evaluated the applicability of ASC Topic 810 to this joint venture and determined that the Company is not the primary beneficiary and, therefore, consolidation of this venture is not required. The Company accounts for this investment using the equity method of accounting.
	Summary of Investments in Unconsolidated Affiliates
	The following Combined and Condensed Balance Sheets and Statements of Income summarize the financial information of the Company’s investments in unconsolidated affiliates:
	(dollars in thousands)	September 30,			December 31,
		2014			2013
	Combined and Condensed Balance Sheets
	Assets
	Rental property, net	$	235,949		$	380,268
	Real estate under development	49,866			5,573
	Investment in unconsolidated affiliates	11,154			63,745
	Other assets	41,107			66,895
	Total assets	$	338,076		$	516,481
	Liabilities and partners’ equity
	Mortgage notes payable	$	208,326		$	265,982
	Other liabilities	51,611			43,733
	Partners’ equity	78,139			206,766
	Total liabilities and partners’ equity	$	338,076		$	516,481
	Company’s investment in and advances to unconsolidated affiliates	$	123,693		$	181,322
	Company's share of distributions in excess of income from, and investments in, unconsolidated affiliates	$	(8,416	)	$	(8,701	)
	5.    INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (continued)
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(dollars in thousands)	2014			2013			2014			2013
	Combined and Condensed Statements of Income
	Total revenues	$	10,280		$	13,731		$	34,632		$	35,577
	Operating and other expenses	(3,840		)	(4,139		)	(13,158		)	(13,117		)
	Interest and other finance expense	(1,808		)	(2,359		)	(7,308		)	(6,446		)
	Equity in earnings (losses) of unconsolidated affiliates	—			1,284			(328		)	7,154
	Depreciation and amortization	(2,275		)	(3,200		)	(8,456		)	(7,888		)
	Loss on debt extinguishment	—			—			(187		)	—
	Gain on disposition of property	142,377			—			142,615			—
	Net income	$	144,734		$	5,317		$	147,810		$	15,280
	Company’s share of net income	$	105,876		$	4,307		$	110,531		$	7,568
	Amortization of excess investment	(98		)	(98		)	(294		)	(294		)
	Company’s equity in earnings of unconsolidated affiliates	$	105,778		$	4,209		$	110,237		$	7,274

NOTES_RECEIVABLE_AND_PREFERRED

NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENTS, NET	9 Months Ended
	Sep. 30, 2014
Mortgage Loans on Real Estate [Abstract]	'
NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENTS, NET	'
	NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENTS, NET
	As of September 30, 2014, the Company’s notes receivable and preferred equity investments, net, aggregated $94.4 million, and were collateralized either by underlying properties, the borrowers' ownership interests in the entities that own properties and/or by the borrowers' personal guarantee subject, as applicable, to senior liens, as follows:
	(dollars in thousands)
	Description	Effective interest rate (1)	First Priority liens		Net Carrying Amounts of Notes Receivable as of September 30, 2014		Net Carrying Amounts of Notes Receivable as of December 31, 2013		Maturity date
	First Mortgage Loan	6.00%	—		$	—	$	6,400	Demand
	Mezzanine Loan (2)	10.00%	83,686		7,895		9,089		Demand
	First Mortgage Loan	5.50%	—		4,000		42,000		4/1/16
	Zero Coupon Loan (3)	24.00%	166,200		4,847		4,431		1/3/16
	Mezzanine Loan	15.00%	—		30,879		30,879		11/9/20
	Mezzanine Loan	15.00%	—		—		3,834		Upon Capital Event
	Preferred Equity	8.10%	20,855		13,000		13,000		9/1/17
	Construction Loan	7.70%	—		12,000		12,000		1/1/15
	Mezzanine Loan	12.70%	18,900		8,000		—		10/3/15
	Preferred Equity	13.50%	—		4,000		—		5/9/16
	Other	LIBOR + 2.5%	—		4,000		3,000		12/30/20
	Other	18.00%	—		3,157		—		7/1/17
	Individually less than 3%  (4)	2.7% to 11.6%	—		2,631		2,023		12/31/20 to 5/1/2024
	Total				$	94,409	$	126,656
	Notes:
	(1) Includes origination and exit fees
	(2) Comprised of three cross-collateralized loans from one borrower, which are non-performing
	(3) The principal balance for this accrual-only loan is increased by the interest accrued
	(4) Consists of three loans as of September 30, 2014
	During January 2014, the Company received a repayment of $6.4 million, representing the full principal amount on a note receivable.
	During January 2014, the Company also received a payment of $1.4 million for a mezzanine loan with a carrying value, net of reserves, of $0.7 million. The Company recognized income of approximately $0.7 million relating to the payoff, which is included in Other, a component of revenue in the accompanying 2014 Consolidated Statement of Income for the nine months ended September 30, 2014.
	During April 2014, the Company made a $13.0 million loan, which is collateralized by a property and bears interest at 12.7% and matures October 2015. During July 2014, the borrower repaid $5.0 million of the loan. The outstanding balance at September 30, 2014 was $8.0 million.
	During April 2014, the Company made a $1.9 million loan, which is collateralized by a property, bears interest at LIBOR plus 375 basis points and matures May 2024.
	During April 2014, the Company converted a $38.0 million loan into an equity interest in 152-154 Spring Street (Note 4).
	6.    NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENTS, NET (continued)
	During April 2014, the Company received payment of $10.3 million representing principal and accrued interest on a mezzanine loan for which the Company had a carrying value of $8.5 million, net of a $2.0 million reserve. Following the full collection of all amounts due under this note, the Company recognized income of approximately $2.0 million, which is included in Other, a component of revenue in the accompanying 2014 Consolidated Statement of Income for the nine months ended September 30, 2014.
	During May 2014, the Company made a $4.0 million preferred equity investment in an entity which owns a property located in the Bronx. The investment has a preferred return of 13.5% and matures May 9, 2016.
	During July 2014, the Company made an additional $1.0 million loan, which is collateralized by Common OP Units, to an existing borrower, bringing the total outstanding amount to $4.0 million. This loan bears interest at LIBOR plus 250 basis points and matures December 2020.
	During July 2014, the Company made a $4.8 million loan, which is collateralized by the borrower's interest in a property, bears interest at 18.0% and matures July 2017. As of September 30, 2014, $3.2 million has been drawn down on the loan.
	During September 2014, the Company received payment of $1.9 million on a note, representing $0.7 million of accrued interest and $1.2 million of principal.
	The Company monitors the credit quality of its notes receivable on an ongoing basis and considers indicators of credit quality such as loan payment activity, the estimated fair value of the underlying collateral, the seniority of the Company's loan in relation to other debt secured by the collateral and the prospects of the borrower. As of September 30, 2014, the Company held three non-performing notes aggregating $7.9 million for which payment was delinquent. Based primarily on the indicators noted above, the Company has established a reserve of $0.1 million as of September 30, 2014 related to these notes. The following table reconciles the allowance for notes receivable from December 31, 2013 to September 30, 2014:
	(dollars in thousands)	Allowance for Notes Receivable
	Balance at December 31, 2013	$	3,681
	Additional reserves	88
	Recoveries	(3,681		)
	Charge-offs and reclassifications	—
	Balance at September 30, 2014	$	88

DERIVATIVE_FINANCIAL_INSTRUMEN

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Financial Instruments	'
	DERIVATIVE FINANCIAL INSTRUMENTS
	As of September 30, 2014, the Company's derivative financial instruments consisted of 12 interest rate swaps with an aggregate notional value of $191.5 million, which effectively fix the London Inter-Bank Offer Rate ("LIBOR") at rates ranging from 0.70% to 3.77% and mature between May 2015 and April 2023. The Company also has four derivative financial instruments with a notional value of $139.9 million which cap LIBOR at rates ranging from 3.00% to 4.25% and mature between July 2015 and April 2018. The fair value of these derivative instruments that represent liabilities are included in Other liabilities in the Consolidated Balance Sheets and totaled $2.6 million and $2.0 million at September 30, 2014 and December 31, 2013, respectively. The fair value of these derivative instruments representing assets are included in Prepaid expenses and other assets in the Consolidated Balance Sheets and totaled $1.1 million and $3.1 million at September 30, 2014 and December 31, 2013, respectively. The notional value does not represent exposure to credit, interest rate, or market risks.
	These derivative instruments have been designated as cash flow hedges and hedge the future cash outflows of variable-rate interest payments on mortgage debt. Such instruments are reported at their fair values as stated above. As of September 30, 2014 and December 31, 2013, unrealized (losses)/income totaling $(1.6) million and $1.1 million, respectively, were reflected in Accumulated other comprehensive (loss) income on the Consolidated Balance Sheets.
	As of September 30, 2014 and December 31, 2013, no derivatives were designated as fair value hedges, hedges of net investments in foreign operations or considered to be ineffective. Additionally, the Company does not use derivatives for trading or speculative purposes.

MORTGAGE_AND_OTHER_NOTES_PAYAB

MORTGAGE AND OTHER NOTES PAYABLE	9 Months Ended
	Sep. 30, 2014
Mortgage Loans on Real Estate [Abstract]	'
MORTGAGE AND OTHER NOTES PAYABLE	'
	MORTGAGE AND OTHER NOTES PAYABLE
	The Company completed the following transactions related to mortgage and other notes payable and credit facilities during the nine months ended September 30, 2014:
	Secured Mortgages:
	(dollars in thousands)			Borrowings				Repayments
	Property	Date	Description	Amount		Interest Rate	Maturity Date	Amount		Interest Rate
	664 N. Michigan	January	New Borrowing	$	45,000	LIBOR + 1.65%	6/28/18	$	—
	New Hyde Park Shopping Center	January	Additional Draw	1,500		LIBOR + 2.25%	11/10/15	—
	Heritage Shops	February	Refinancing	24,500		LIBOR + 1.55%	2/28/16	20,900		LIBOR + 2.25%
	654 Broadway	March	New Borrowing	9,000		LIBOR + 1.88%	3/7/17	—
	Paramus Plaza	March	New Borrowing	12,600		LIBOR + 1.70%	2/20/19	—
	Clark Diversey	April	Repayment	—			7/1/14	4,200		6.35%
	Lake Montclair	April	New Borrowing	15,500		LIBOR + 2.15%	5/1/19	—
	New Hyde Park Shopping Center	April	Refinancing	12,000		LIBOR + 1.85%	5/1/17	7,700		LIBOR + 2.25%
	938 W. North	May	New Borrowing	12,500		LIBOR + 2.35%	5/1/17	—
	1151 Third Ave	June	New Borrowing	12,500		LIBOR + 1.75%	6/3/17	—
	New Loudon Center	June	Repayment	—			9/6/14	13,300		5.64%
	Bedford Green	July	Assumption	29,794		5.10%	9/5/17	—
	City Point (1)	Various	Additional Draw	60,514
	Total			$	235,408			$	46,100
	Note:
	(1) As of September 30, 2014, $198.5 million of funds have been released under the Company's EB-5 loan relating to its City Point project into a restricted cash account. $149.2 million has been drawn to fund construction activities, with $49.3 million remaining in the restricted cash account at September 30, 2014.
	Unsecured Credit Facilities:
	During the nine months ended September 30, 2014, the Company borrowed $15.0 million on its unsecured credit facility and paid down $15.0 million. As of September 30, 2014, there was no outstanding balance under this facility. During September 2014, the Company amended its unsecured credit facility and its $50.0 million term loan. The amendment extended the maturity date of the unsecured credit facility from January 31, 2016 until January 31, 2018, reduced the interest rate from LIBOR plus 155 basis points to LIBOR plus 140 basis points and reduced the unused fee from 35 basis points to 25 basis points. The amendment also extended the maturity date of the Company's $50.0 million term loan from November 25, 2018 until November 25, 2019 and reduced the interest rate from LIBOR plus 140 basis points to LIBOR plus 130 basis points.
	During the nine months ended September 30, 2014, the Company borrowed $67.4 million on its Fund IV subscription line and paid down $68.8 million. The outstanding balance under this facility is $67.4 million as of September 30, 2014.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	FAIR VALUE MEASUREMENTS
	The FASB's fair value measurements and disclosure guidance requires the valuation of certain of the Company's financial assets and liabilities, based on a three-level fair value hierarchy. Market value assumptions obtained from sources independent of the Company are observable inputs that are classified within Levels 1 and 2 of the hierarchy, and the Company's own assumptions about market value assumptions are unobservable inputs classified within Level 3 of the hierarchy.
	The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2014:
	(dollars in thousands)	Level 1		Level 2		Level 3
	Assets
	Derivative financial instruments (Note 7)	$	—	$	1,076	$	—
	Liabilities
	Derivative financial instruments (Note 7)	$	—	$	2,618	$	—
	In addition to items that are measured at fair value on a recurring basis, the Company also has assets and liabilities on its consolidated balance sheets that are measured at fair value on a nonrecurring basis. As these assets and liabilities are not measured at fair value on a recurring basis, they are not included in the table above. Assets and liabilities that are measured at fair value on a nonrecurring basis include assets acquired and liabilities assumed in business combinations (Note 4).
	Financial Instruments
	Certain of the Company’s assets and liabilities meet the definition of financial instruments. Except as disclosed below, the carrying amounts of these financial instruments approximate their fair values.
	The Company has determined the estimated fair values of the following financial instruments within Level 2 of the hierarchy by discounting future cash flows utilizing a discount rate equivalent to the rate at which similar financial instruments would be originated at the reporting date:
	(dollars in thousands)	September 30, 2014				December 31, 2013
		Carrying		Estimated Fair Value		Carrying		Estimated Fair Value
		Amount				Amount
	Notes Receivable and Preferred Equity Investments	$	94,409	$	94,409	$	126,656	$	126,656
	Mortgage, Convertible Notes and Other Notes Payable	$	1,141,066	$	1,155,499	$	1,039,997	$	1,056,457

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	RELATED PARTY TRANSACTIONS
	The Company earned property management fees, construction, legal and leasing fees from its investments in unconsolidated affiliates totaling $0.06 million and $0.02 million for the three months ended September 30, 2014 and 2013, respectively, and $0.1 million and $0.06 million for the nine months ended September 30, 2014 and 2013, respectively.
	Lee Wielansky, the Lead Trustee of the Company, was paid a consulting fee of $0.025 million for the three months ended September 30, 2013 and $0.075 million for the nine months ended September 30, 2013. The consulting agreement was terminated as of December 31, 2013 and no such fees were incurred during the three or nine months ended September 30, 2014.

SEGMENT_REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment Reporting	'
	SEGMENT REPORTING
	The Company has three reportable segments: Core Portfolio, Funds and Structured Financing. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates property performance primarily based on net operating income before depreciation, amortization and certain nonrecurring items. Investments in the Core Portfolio are typically held long-term. Given the contemplated finite life of the Funds, these investments are typically held for shorter terms. Fees earned by the Company as the general partner/managing member of the Funds are eliminated in the Company's consolidated financial statements. Structured Financing represents the Company's investments in notes receivable and preferred equity. The following tables set forth certain segment information for the Company, reclassified for discontinued operations, as of and for the three months and nine months ended September 30, 2014 and 2013, and does not include unconsolidated affiliates:
	Three Months Ended September 30, 2014
	(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
	Revenues	$	31,291		$	13,363		$	3,006		$	47,660
	Property operating expenses, other operating and real estate taxes	(8,198		)	(4,226		)	—			(12,424		)
	General and administrative expenses	(5,828		)	(1,054		)	(241		)	(7,123		)
	Depreciation and amortization	(9,330		)	(3,554		)	—			(12,884		)
	Operating income	7,935			4,529			2,765			15,229
	Equity in earnings of unconsolidated affiliates	118			2,805			—			2,923
	Gain on disposition of properties of unconsolidated affiliates	—			102,855			—			102,855
	Gain on disposition of property	190			—			—			190
	Interest and other finance expense	(7,274		)	(2,868		)	—			(10,142		)
	Income tax (provision) benefit	(71		)	88			—			17
	Net income	898			107,409			2,765			111,072
	Noncontrolling interests
	Net income attributable to noncontrolling interests	(1,465		)	(81,043		)	—			(82,508		)
	Net (loss) income attributable to Common Shareholders	$	(567	)	$	26,366		$	2,765		$	28,564
	Real Estate at Cost	$	1,280,087		$	835,637		$	—		$	2,115,724
	Total Assets	$	1,289,107		$	1,071,135		$	94,409		$	2,454,651
	Acquisition of Real Estate	$	29,378		$	—		$	—		$	29,378
	Investment in Redevelopment and Improvements	$	650		$	36,086		$	—		$	36,736
	11.    SEGMENT REPORTING (continued)
	Three Months Ended September 30, 2013
	(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
	Revenues	$	28,115		$	10,002		$	2,969		$	41,086
	Property operating expenses, other operating and real estate taxes	(7,723		)	(4,453		)	—			(12,176		)
	General and administrative expenses	(4,954		)	(381		)	—			(5,335		)
	Depreciation and amortization	(7,890		)	(2,560		)	—			(10,450		)
	Operating income	7,548			2,608			2,969			13,125
	Equity in (losses) earnings of unconsolidated affiliates	(49		)	4,258			—			4,209
	Interest and other finance expense	(6,683		)	(3,912		)	—			(10,595		)
	Income tax provision	(81		)	(105		)	—			(186		)
	Income from continuing operations	735			2,849			2,969			6,553
	Discontinued operations
	Operating income from discontinued operations	171			2,418			—			2,589
	Net income	906			5,267			2,969			9,142
	Noncontrolling interests
	Loss from continuing operations	—			2,342			—			2,342
	Income from discontinued operations	(68		)	(1,931		)	—			(1,999		)
	Net (income) loss attributable to noncontrolling interests	(68		)	411			—			343
	Net income attributable to Common Shareholders	$	838		$	5,678		$	2,969		$	9,485
	Real Estate at Cost	$	998,711		$	676,406		$	—		$	1,675,117
	Total Assets	$	993,472		$	1,260,544		$	95,352		$	2,349,368
	Acquisition of Real Estate	$	11,800		$	19,175		$	—		$	30,975
	Investment in Redevelopment and Improvements	$	5,246		$	30,736		$	—		$	35,982
	11.    SEGMENT REPORTING (continued)
	Nine Months Ended September 30, 2014
	(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
	Revenues	$	91,974		$	39,938		$	11,944		$	143,856
	Property operating expenses, other operating and real estate taxes	(23,693		)	(14,426		)	—			(38,119		)
	General and administrative expenses	(18,191		)	(2,179		)	(528		)	(20,898		)
	Depreciation and amortization	(25,963		)	(10,092		)	—			(36,055		)
	Operating income	24,127			13,241			11,416			48,784
	Equity in earnings of unconsolidated affiliates	441			6,941			—			7,382
	Gain on disposition of properties of unconsolidated affiliates	—			102,855			—			102,855
	Loss on debt extinguishment	—			(269		)	—			(269		)
	Interest and other finance expense	(21,436		)	(8,891		)	—			(30,327		)
	Income tax (provision) benefit	(84		)	16			—			(68		)
	Gain on disposition of property	12,577			561			—			13,138
	Income from continuing operations	15,625			114,454			11,416			141,495
	Discontinued operations
	Gain on disposition of property	—			560			—			560
Net income	15,625			115,014			11,416			142,055
Noncontrolling interests
Income from continuing operations	(2,834		)	(77,137		)	—			(79,971		)
Income from discontinued operations	—			(461		)	—			(461		)
Net income attributable to noncontrolling interests	(2,834		)	(77,598		)	—			(80,432		)
Net income attributable to Common Shareholders	$	12,791		$	37,416		$	11,416		$	61,623
Real Estate at Cost	$	1,280,087		$	835,637		$	—		$	2,115,724
Total Assets	$	1,289,107		$	1,071,135		$	94,409		$	2,454,651
Acquisition of Real Estate	$	136,978		$	—		$	—		$	136,978
Investment in Redevelopment and Improvements	$	3,711		$	101,338		$	—		$	105,049
11.    SEGMENT REPORTING (continued)
Nine Months Ended September 30, 2013
(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
Revenues	$	82,252		$	32,666		$	9,265		$	124,183
Property operating expenses, other operating and real estate taxes	(21,098		)	(12,107		)	—			(33,205		)
General and administrative expenses	(16,042		)	(1,221		)	—			(17,263		)
Depreciation and amortization	(21,187		)	(8,091		)	—			(29,278		)
Operating income	23,925			11,247			9,265			44,437
Equity in (losses) earnings of unconsolidated affiliates	(96		)	7,370			—			7,274
Impairment of asset	(1,500		)	—			—			(1,500		)
Interest and other finance expense	(19,169		)	(10,637		)	—			(29,806		)
Income tax benefit (provision)	159			(216		)	—			(57		)
Income from continuing operations	3,319			7,764			9,265			20,348
Discontinued operations
Operating income from discontinued operations	384			5,010			—			5,394
Gain on disposition of property	—			4,191			—			4,191
Net income	3,703			16,965			9,265			29,933
Noncontrolling interests
Loss from continuing operations	—			6,103			—			6,103
Income from discontinued operations	(154		)	(8,017		)	—			(8,171		)
Net income attributable to noncontrolling interests	(154		)	(1,914		)	—			(2,068		)
Net income attributable to Common Shareholders	$	3,549		$	15,051		$	9,265		$	27,865
Real Estate at Cost	$	998,711		$	676,406		$	—		$	1,675,117
Total Assets	$	993,472		$	1,260,544		$	95,352		$	2,349,368
Acquisition of Real Estate	$	120,900		$	19,175		$	—		$	140,075
Investment in Redevelopment and Improvements	$	8,957		$	70,592		$	—		$	79,549

LONGTERM_INCENTIVE_COMPENSATIO

LONG-TERM INCENTIVE COMPENSATION	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Long-Term Incentive Compensation	'
	LONG-TERM INCENTIVE COMPENSATION
	On February 28, 2014, the Company issued a total of 326,230 LTIP Units and 918 Restricted Share Units to officers of the Company and 10,527 Restricted Share Units to other employees of the Company pursuant to its Amended and Restated 2006 Share Incentive Plan (the "Share Incentive Plan"). Vesting with respect to these awards is generally recognized ratably over the five annual anniversaries following the issuance date. Vesting with respect to 16% of the awards issued to officers is also generally subject to achieving certain Company performance measures. Unvested LTIP Units provide for non-forfeitable rights to dividend equivalent payments (Note 2).
	On March 31, 2014 , the Company entered into an Amended and Restated Employment Agreement with Kenneth Bernstein, Chief Executive Officer, and issued an additional 114,198 LTIP Units which are subject to a five-year vesting period.
	These awards were measured at their fair value on the grant date. Fair value was established as the market price of the Company's Common Shares as of the close of trading on the day preceding the grant date. The total value of the above Restricted Share Units and LTIP Units as of their respective grant dates was $11.9 million, of which $0.5 million was recognized as compensation expense in 2013, and $11.4 million will be recognized as compensation expense over the vesting period. Compensation expense of $0.6 million and $1.6 million has been recognized in the accompanying consolidated statements of income related to these awards for the three and nine months ended September 30, 2014.
	Total long-term incentive compensation expense, including the expense related to the above-mentioned plans, was $1.6 million and $1.3 million for the three months ended September 30, 2014 and 2013, respectively, and $4.6 million and $3.8 million for the nine months ended September 30, 2014 and 2013, respectively.
	On June 4, 2014, the Company issued 17,118 Restricted Shares and 1,518 LTIP Units to Trustees of the Company in connection with Trustee fees. Vesting with respect to 6,276 of the Restricted Shares and 1,518 of the LTIP Units will be on the first anniversary of the date of issuance and 10,842 of the Restricted Shares vest over three years with 33% vesting on each of the next three anniversaries of the issuance date. The Restricted Shares do not carry voting rights or other rights of Common Shares until vesting and may not be transferred, assigned or pledged until the recipients have a vested non-forfeitable right to such shares. Dividends are not paid currently on unvested Restricted Shares, but are paid cumulatively from the issuance date through the applicable vesting date of such Restricted Shares. Trustee fee expense of $0.08 million and $0.12 million for the three and nine months ended September 30, 2014 has been recognized in the accompanying consolidated statements of income related to this issuance.
	Total Trustee fee expense, including the expense related to the above-mentioned issuance, was $0.2 million and $0.1 million for the three months ended September 30, 2014 and 2013, respectively, and $0.6 million and $0.5 million for the nine months ended September 30, 2014 and 2013, respectively.
	In 2009, the Company adopted the Long Term Investment Alignment Program (the "Program") pursuant to which the Company may award units primarily to senior executives which would entitle them to receive up to 25% of any future Fund III Promote or Fund IV Promote when and if such Promotes are ultimately realized. The Company has awarded all of the units under the Program related to the Fund III Promote and 10% of the units related to the Fund IV Promote. These units were determined to have no value at issuance or as of September 30, 2014. In accordance with ASC Topic 718, "Compensation - Stock Compensation," compensation relating to these awards will be recorded based on the change in the estimated fair value at each reporting period.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	SUBSEQUENT EVENTS
	During October 2014, the Company completed the acquisition of the Shops at Grand Avenue, located in Queens, New York for a purchase price of $56.0 million.
	During October 2014, Fund IV completed the acquisition of 27 E. 61st Street located in Manhattan, New York for a purchase price of $19.3 million.
	During October 2014, Fund IV completed the acquisition of 17 E. 71st Street located in Manhattan, New York for a purchase price of $28.0 million.
	During October 2014, the Company completed a public share offering of approximately 3.9 million Common Shares for $116.3 million. Net proceeds after expenses were approximately $114.8 million.

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The consolidated financial statements include the consolidated accounts of the Company and its investments in entities in which the Company is presumed to have control in accordance with the consolidation guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC"). Investments in entities for which the Company has the ability to exercise significant influence but does not have financial or operating control are accounted for under the equity method of accounting. Accordingly, the Company's share of the net earnings (or losses) of entities accounted for under the equity method are included in consolidated net income under the caption, Equity in Earnings of Unconsolidated Affiliates. Investments in entities for which the Company does not have the ability to exercise any influence are accounted for under the cost method.
	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014. The information furnished in the accompanying consolidated financial statements reflects all adjustments that, in the opinion of management, are necessary for a fair presentation of the aforementioned consolidated financial statements for the interim periods. Such adjustments consisted of normal recurring items. These consolidated financial statements should be read in conjunction with the Company's 2013 Annual Report on Form 10-K, as filed with the SEC on February 26, 2014.
Reclassifications	'
	Reclassifications
	Certain reclassifications have been made to the 2013 financial statements to conform to the 2014 presentation.
Real Estate	'
	Real Estate
	The Company reviews its long-lived assets for impairment when there is an event or change in circumstances that indicates that the carrying amount may not be recoverable. The Company measures and records impairment losses and reduces the carrying value of properties when indicators of impairment are present and the expected undiscounted cash flows related to those properties are less than their carrying amounts. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying cost to fair value, and for properties held-for-sale, the Company reduces its carrying value to the fair value less costs to dispose. Management does not believe that the carrying values of any of its properties are impaired as of September 30, 2014.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	During June 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-12, "Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." ASU 2014-12 provides explicit guidance on how to account for share-based payments that require a specific performance target to be achieved which may be achieved after an employee completes the requisite service period. ASU 2014-12 is effective for periods beginning after December 15, 2015 and may be applied either prospectively or retrospectively. ASU 2014-12 is not expected to have a material impact on the Company's financial statements.
	During May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers", which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of its pending adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which the standard will be adopted in 2017.
	During April 2014, the FASB issued ASU No. 2014-08, "Presentation of Financial Statements and Property, Plant and Equipment; Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." ASU 2014-08 modifies the requirements for reporting discontinued operations. Under the amendments in ASU 2014-08, the definition of discontinued operation has been modified to only include those disposals of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. ASU 2014-08 shall be applied prospectively for periods beginning on or after December 15, 2014, with early adoption permitted. The Company adopted ASU 2014-08 for the quarter ended March 31, 2014. The Company has adopted this standard on a prospective basis for transactions that have occurred after the adoption date. The adoption of ASU 2014-08 did not have a material effect on the Company's financial position or results of operations.

ORGANIZATION_AND_BASIS_OF_PRES2

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Schedule of Noncontrolling Interest In Individual Investee	'
	Following is a table summarizing the general terms and the Operating Partnership's equity interests in the Funds and Mervyns I and II:
	Entity	Formation Date	Operating Partnership Share of Capital		Committed Capital (2)		Capital Called as of September 30, 2014 (3)		Equity Interest Held By Operating Partnership		Preferred Return		Total Distributions as of September 30, 2014 (3)
	Fund I and Mervyns I (1)	Sep-01	22.22	%	$	90	$	86.6	37.78	%	9	%	$	192.3
	Fund II and Mervyns II (2)	Jun-04	20	%	300		300		20	%	8	%	131.6
	Fund III	May-07	19.9	%	475		372		19.9	%	6	%	362.2
	Fund IV	May-12	23.12	%	540.6		121		23.12	%	6	%	95.9
	1.    ORGANIZATION AND BASIS OF PRESENTATION (continued)
	Notes:
	(1) Fund I and Mervyns I have returned all capital and preferred return. The Operating Partnership is now entitled to a Promote on all future cash distributions.
	(2) During 2013, a distribution of $47.1 million was made to the Fund II investors, including the Operating Partnership. This amount is subject to recontribution to Fund II until December 2016, if needed to fund the on-going development and construction of existing projects.
	(3) Represents the total for the Funds, including the Operating Partnership and noncontrolling interests' shares.

EARNINGS_PER_COMMON_SHARE_Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Computation of Basic and Diluted Earnings Per Share from Continuing Operations	'
	The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the periods indicated:
	2.    EARNINGS PER COMMON SHARE (continued)
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(dollars in thousands, except per share amounts)	2014			2013			2014			2013
	Numerator
	Income from continuing operations	$	28,564		$	8,895		$	61,524		$	26,451
	Less: net income attributable to participating securities	(490		)	(157		)	(1,083		)	(468		)
	Income from continuing operations, net of income attributable to participating securities	28,074			8,738			60,441			25,983
	Denominator
	Weighted average shares for basic earnings per share	59,686			55,460			57,898			54,697
	Effect of dilutive securities:
	Employee Restricted Share Units and share options	18			26			26			41
	Convertible Preferred OP Units	25			—			25			—
	Denominator for diluted earnings per share	59,729			55,486			57,949			54,738
	Basic earnings per Common Share from continuing operations attributable to Common Shareholders	$	0.47		$	0.16		$	1.04		$	0.47
	Diluted earnings per Common Share from continuing operations attributable to Common Shareholders	$	0.47		$	0.16		$	1.04		$	0.47

ACQUISITION_OF_REAL_ESTATE_AND1

ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]	'
Schedule of Business Acquisitions, by Acquisition	'
	During 2014, the Company acquired the following properties through its Core Portfolio and Fund IV as follows:
	Core Portfolio
	(dollars in thousands)
	Property	GLA		Percent Owned		Type	Month of Acquisition	Purchase Price			Location	Assumption of Debt
	11 E. Walton	6,738		100	%	Street Retail	January	$	44,000		Chicago, IL	$	—
	61 Main Street	3,400		100	%	Street Retail	February	7,300			Westport, CT	—
	865 W. North Avenue	16,000		100	%	Street Retail	March	14,750			Chicago, IL	—
	252-256 Greenwich Avenue	9,172		100	%	Street Retail	March	24,450			Greenwich, CT	—
	152-154 Spring Street	2,936		90	%	Street Retail	April	38,000			New York, NY	—
	2520 Flatbush Avenue	29,114		100	%	Urban Retail	May	17,100			Brooklyn, NY	—
	Bedford Green	90,472		100	%	Shopping Center	July	46,750			Bedford Hills, NY	29,794
	131-135 Prince Street (1)	3,200		100	%	Street Retail	July	51,359			New York, NY	—
	Total	161,032						$	243,709			$	29,794
	The Company expensed $3.1 million of acquisition costs for the nine months ended September 30, 2014, related to the Core Portfolio.
	Note:
	(1) This acquisition was primarily funded with the issuance of 1.4 million Common OP Units.
	Fund IV
	(dollars in thousands)
	Property	GLA		Percent Owned		Type	Month of Acquisition	Purchase Price			Location
	Broughton Street Portfolio (1)	218,076		50	%	Street Retail	Various	$	33,856		Savannah, GA
	Eden Square (2)	235,508		90	%	Shopping Center	July	25,369			Bear, DE
	Total	453,584						$	59,225
	The Company expensed $3.0 million of acquisition costs for the nine months ended September 30, 2014, related to Fund IV.
	Notes:
	(1) The Broughton Street Portfolio consists of 24 properties. As the joint venture partner to these investments maintains operating control over the investments, these are accounted for under the equity method. Of the 24 properties, nine of them are accounted for as asset acquisitions as they were purchased vacant and require future development.
	(2) As the joint venture partner to this investment maintains operating control over this investment, it is accounted for under the equity method.
Schedule Of Property Dispositions	'
	During 2014, the Company disposed of the following properties:
	(dollars in thousands)
	Dispositions	GLA		Sale Price			Gain/Loss on Sale			Month Sold	Owner
	Walnut Hill (1)	297,905		$	—		$	12,402		March	Core
	Sheepshead Bay	96,418		20,200			1,399			April	Fund III
	City Point (2)	—		26,300			561			June	Fund II
	Other post-sale adjustments	—		—			(854		)	-	Fund II
	Union Plaza	—		340			190			July	Core
	Lincoln Road Portfolio (3)	61,443		141,800			86,600			August	Fund III
	Lincoln Road Portfolio (3)	54,453		200,200			54,642			August	Fund IV
	Total	510,219		$	388,840		$	154,940
	Notes:
	(1) This property was subject to $22.9 million of non-recourse debt and was foreclosed upon by the lender during March 2014, resulting in a $12.4 million gain.
	(2) Represents the sale of a portion of the residential air rights known as "Tower 2" associated with the Company's City Point development project.
	(3) Both the Fund III and Fund IV Lincoln Road Portfolios were unconsolidated and as such, the Company's share of gains related to these sales are included in gain on disposition of properties of unconsolidated affiliates in the 2014 Consolidated Statement of Income.
Combined Assets and Liabilities and Results of Operations of the Properties Classified as Discontinued Operations	'
	The combined assets and liabilities and the results of operations of the properties classified as discontinued operations are summarized for each period presented as follows:
	4.    ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (continued)
	Discontinued Operations (continued)
	(dollars in thousands)
	BALANCE SHEET	31-Dec-13
	ASSETS
	Net real estate	$	17,991
	Rents receivable, net	565
	Deferred charges, net	38
	Prepaid expenses and other assets	1,840
	Total assets of discontinued operations	$	20,434
	LIABILITIES
	Accounts payable and accrued expenses	$	1,473
	Other liabilities	1,034
	Total liabilities of discontinued operations	$	2,507
		Three Months Ended								Nine Months Ended
	(dollars in thousands)	September 30,								September 30,
	STATEMENTS OF INCOME	2014				2013				2014				2013
	Total revenues	$	—			$	3,641			$	—			$	15,854
	Total expenses	—				1,052				—				10,460
	Operating income	—				2,589				—				5,394
	Gain on disposition of property	—				—				560				4,191
	Income from discontinued operations	—				2,589				560				9,585
	Income from discontinued operations attributable to noncontrolling interests	—				(1,999		)		(461		)		(8,171		)
	Income from discontinued operations attributable to Common Shareholders	$	—			$	590			$	99			$	1,414
Acquisitions In 2014	'
Restructuring Cost and Reserve [Line Items]	'
Schedule of Business Acquisitions, by Acquisition	'
	The following table summarizes the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2014 which have yet to be finalized:
	(dollars in thousands)	Preliminary Purchase Price Allocations
	Land	$	73,459
	Buildings and improvements	220,375
	Total consideration	$	293,834
Acquisitions in 2013	'
Restructuring Cost and Reserve [Line Items]	'
Schedule of Business Acquisitions, by Acquisition	'
	The following table summarizes the preliminary allocations of the purchase prices of these properties as recorded as of December 31, 2013, and the finalized allocations as adjusted as of September 30, 2014:
	(dollars in thousands)	Purchase Price Allocations as Originally Reported			Adjustments			Finalized Purchase Price Allocations
	Land	$	52,029		$	14,356		$	66,385
	Buildings and improvements	173,605			(28,988		)	144,617
	Acquisition-related intangible assets (in Acquired lease intangibles, net)	—			19,574			19,574
	Acquisition-related intangible liabilities (in Acquired lease intangibles, net)	—			(4,942		)	(4,942		)
	Total consideration	$	225,634		$	—		$	225,634

INVESTMENTS_IN_AND_ADVANCES_TO1

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Tables)	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Summary activity related to the RCP Venture Investments from Inception	'
	The following table summarizes activity related to the RCP Venture investments from inception through September 30, 2014:
	(dollars in thousands)		Investment Group Share						Operating Partnership Share
	Investment	Year Acquired	Invested						Invested
			Capital			Distributions			Capital			Distributions
			and Advances						and Advances
	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			1,956			535			392
			$	63,216		$	147,849		$	12,070		$	31,787
Summary of Balance Sheet of the Company’s investments in unconsolidated affiliates	'
	The following Combined and Condensed Balance Sheets and Statements of Income summarize the financial information of the Company’s investments in unconsolidated affiliates:
	(dollars in thousands)	September 30,			December 31,
		2014			2013
	Combined and Condensed Balance Sheets
	Assets
	Rental property, net	$	235,949		$	380,268
	Real estate under development	49,866			5,573
	Investment in unconsolidated affiliates	11,154			63,745
	Other assets	41,107			66,895
	Total assets	$	338,076		$	516,481
	Liabilities and partners’ equity
	Mortgage notes payable	$	208,326		$	265,982
	Other liabilities	51,611			43,733
	Partners’ equity	78,139			206,766
	Total liabilities and partners’ equity	$	338,076		$	516,481
	Company’s investment in and advances to unconsolidated affiliates	$	123,693		$	181,322
	Company's share of distributions in excess of income from, and investments in, unconsolidated affiliates	$	(8,416	)	$	(8,701	)
Summary of Statement of Income of the Company’s investments in unconsolidated affiliates	'
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(dollars in thousands)	2014			2013			2014			2013
	Combined and Condensed Statements of Income
	Total revenues	$	10,280		$	13,731		$	34,632		$	35,577
	Operating and other expenses	(3,840		)	(4,139		)	(13,158		)	(13,117		)
	Interest and other finance expense	(1,808		)	(2,359		)	(7,308		)	(6,446		)
	Equity in earnings (losses) of unconsolidated affiliates	—			1,284			(328		)	7,154
	Depreciation and amortization	(2,275		)	(3,200		)	(8,456		)	(7,888		)
	Loss on debt extinguishment	—			—			(187		)	—
	Gain on disposition of property	142,377			—			142,615			—
	Net income	$	144,734		$	5,317		$	147,810		$	15,280
	Company’s share of net income	$	105,876		$	4,307		$	110,531		$	7,568
	Amortization of excess investment	(98		)	(98		)	(294		)	(294		)
	Company’s equity in earnings of unconsolidated affiliates	$	105,778		$	4,209		$	110,237		$	7,274

NOTES_RECEIVABLE_AND_PREFERRED1

NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENTS, NET (Tables)	9 Months Ended
	Sep. 30, 2014
Mortgage Loans on Real Estate [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable	'
	As of September 30, 2014, the Company’s notes receivable and preferred equity investments, net, aggregated $94.4 million, and were collateralized either by underlying properties, the borrowers' ownership interests in the entities that own properties and/or by the borrowers' personal guarantee subject, as applicable, to senior liens, as follows:
	(dollars in thousands)
	Description	Effective interest rate (1)	First Priority liens		Net Carrying Amounts of Notes Receivable as of September 30, 2014		Net Carrying Amounts of Notes Receivable as of December 31, 2013		Maturity date
	First Mortgage Loan	6.00%	—		$	—	$	6,400	Demand
	Mezzanine Loan (2)	10.00%	83,686		7,895		9,089		Demand
	First Mortgage Loan	5.50%	—		4,000		42,000		4/1/16
	Zero Coupon Loan (3)	24.00%	166,200		4,847		4,431		1/3/16
	Mezzanine Loan	15.00%	—		30,879		30,879		11/9/20
	Mezzanine Loan	15.00%	—		—		3,834		Upon Capital Event
	Preferred Equity	8.10%	20,855		13,000		13,000		9/1/17
	Construction Loan	7.70%	—		12,000		12,000		1/1/15
	Mezzanine Loan	12.70%	18,900		8,000		—		10/3/15
	Preferred Equity	13.50%	—		4,000		—		5/9/16
	Other	LIBOR + 2.5%	—		4,000		3,000		12/30/20
	Other	18.00%	—		3,157		—		7/1/17
	Individually less than 3%  (4)	2.7% to 11.6%	—		2,631		2,023		12/31/20 to 5/1/2024
	Total				$	94,409	$	126,656
	Notes:
	(1) Includes origination and exit fees
	(2) Comprised of three cross-collateralized loans from one borrower, which are non-performing
	(3) The principal balance for this accrual-only loan is increased by the interest accrued
	(4) Consists of three loans as of September 30, 2014
Allowance for Notes Receivable	'
	The following table reconciles the allowance for notes receivable from December 31, 2013 to September 30, 2014:
	(dollars in thousands)	Allowance for Notes Receivable
	Balance at December 31, 2013	$	3,681
	Additional reserves	88
	Recoveries	(3,681		)
	Charge-offs and reclassifications	—
	Balance at September 30, 2014	$	88

MORTGAGE_AND_OTHER_NOTES_PAYAB1

MORTGAGE AND OTHER NOTES PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2014
Mortgage Loans on Real Estate [Abstract]	'
Schedule of Mortgage Notes Payable	'
	The Company completed the following transactions related to mortgage and other notes payable and credit facilities during the nine months ended September 30, 2014:
	Secured Mortgages:
	(dollars in thousands)			Borrowings				Repayments
	Property	Date	Description	Amount		Interest Rate	Maturity Date	Amount		Interest Rate
	664 N. Michigan	January	New Borrowing	$	45,000	LIBOR + 1.65%	6/28/18	$	—
	New Hyde Park Shopping Center	January	Additional Draw	1,500		LIBOR + 2.25%	11/10/15	—
	Heritage Shops	February	Refinancing	24,500		LIBOR + 1.55%	2/28/16	20,900		LIBOR + 2.25%
	654 Broadway	March	New Borrowing	9,000		LIBOR + 1.88%	3/7/17	—
	Paramus Plaza	March	New Borrowing	12,600		LIBOR + 1.70%	2/20/19	—
	Clark Diversey	April	Repayment	—			7/1/14	4,200		6.35%
	Lake Montclair	April	New Borrowing	15,500		LIBOR + 2.15%	5/1/19	—
	New Hyde Park Shopping Center	April	Refinancing	12,000		LIBOR + 1.85%	5/1/17	7,700		LIBOR + 2.25%
	938 W. North	May	New Borrowing	12,500		LIBOR + 2.35%	5/1/17	—
	1151 Third Ave	June	New Borrowing	12,500		LIBOR + 1.75%	6/3/17	—
	New Loudon Center	June	Repayment	—			9/6/14	13,300		5.64%
	Bedford Green	July	Assumption	29,794		5.10%	9/5/17	—
	City Point (1)	Various	Additional Draw	60,514
	Total			$	235,408			$	46,100
	Note:
	(1) As of September 30, 2014, $198.5 million of funds have been released under the Company's EB-5 loan relating to its City Point project into a restricted cash account. $149.2 million has been drawn to fund construction activities, with $49.3 million remaining in the restricted cash account at September 30, 2014.

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Company's fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis	'
	The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2014:
	(dollars in thousands)	Level 1		Level 2		Level 3
	Assets
	Derivative financial instruments (Note 7)	$	—	$	1,076	$	—
	Liabilities
	Derivative financial instruments (Note 7)	$	—	$	2,618	$	—
Fair value of financial instruments, Assets and Liabilities	'
	The Company has determined the estimated fair values of the following financial instruments within Level 2 of the hierarchy by discounting future cash flows utilizing a discount rate equivalent to the rate at which similar financial instruments would be originated at the reporting date:
	(dollars in thousands)	September 30, 2014				December 31, 2013
		Carrying		Estimated Fair Value		Carrying		Estimated Fair Value
		Amount				Amount
	Notes Receivable and Preferred Equity Investments	$	94,409	$	94,409	$	126,656	$	126,656
	Mortgage, Convertible Notes and Other Notes Payable	$	1,141,066	$	1,155,499	$	1,039,997	$	1,056,457

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Reconciliation of Certain Segment Information from Segments to Consolidated [Table Text Block]	'
	The following tables set forth certain segment information for the Company, reclassified for discontinued operations, as of and for the three months and nine months ended September 30, 2014 and 2013, and does not include unconsolidated affiliates:
	Three Months Ended September 30, 2014
	(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
	Revenues	$	31,291		$	13,363		$	3,006		$	47,660
	Property operating expenses, other operating and real estate taxes	(8,198		)	(4,226		)	—			(12,424		)
	General and administrative expenses	(5,828		)	(1,054		)	(241		)	(7,123		)
	Depreciation and amortization	(9,330		)	(3,554		)	—			(12,884		)
	Operating income	7,935			4,529			2,765			15,229
	Equity in earnings of unconsolidated affiliates	118			2,805			—			2,923
	Gain on disposition of properties of unconsolidated affiliates	—			102,855			—			102,855
	Gain on disposition of property	190			—			—			190
	Interest and other finance expense	(7,274		)	(2,868		)	—			(10,142		)
	Income tax (provision) benefit	(71		)	88			—			17
	Net income	898			107,409			2,765			111,072
	Noncontrolling interests
	Net income attributable to noncontrolling interests	(1,465		)	(81,043		)	—			(82,508		)
	Net (loss) income attributable to Common Shareholders	$	(567	)	$	26,366		$	2,765		$	28,564
	Real Estate at Cost	$	1,280,087		$	835,637		$	—		$	2,115,724
	Total Assets	$	1,289,107		$	1,071,135		$	94,409		$	2,454,651
	Acquisition of Real Estate	$	29,378		$	—		$	—		$	29,378
	Investment in Redevelopment and Improvements	$	650		$	36,086		$	—		$	36,736
	11.    SEGMENT REPORTING (continued)
	Three Months Ended September 30, 2013
	(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
	Revenues	$	28,115		$	10,002		$	2,969		$	41,086
	Property operating expenses, other operating and real estate taxes	(7,723		)	(4,453		)	—			(12,176		)
	General and administrative expenses	(4,954		)	(381		)	—			(5,335		)
	Depreciation and amortization	(7,890		)	(2,560		)	—			(10,450		)
	Operating income	7,548			2,608			2,969			13,125
	Equity in (losses) earnings of unconsolidated affiliates	(49		)	4,258			—			4,209
	Interest and other finance expense	(6,683		)	(3,912		)	—			(10,595		)
	Income tax provision	(81		)	(105		)	—			(186		)
	Income from continuing operations	735			2,849			2,969			6,553
	Discontinued operations
	Operating income from discontinued operations	171			2,418			—			2,589
	Net income	906			5,267			2,969			9,142
	Noncontrolling interests
	Loss from continuing operations	—			2,342			—			2,342
	Income from discontinued operations	(68		)	(1,931		)	—			(1,999		)
	Net (income) loss attributable to noncontrolling interests	(68		)	411			—			343
	Net income attributable to Common Shareholders	$	838		$	5,678		$	2,969		$	9,485
	Real Estate at Cost	$	998,711		$	676,406		$	—		$	1,675,117
	Total Assets	$	993,472		$	1,260,544		$	95,352		$	2,349,368
	Acquisition of Real Estate	$	11,800		$	19,175		$	—		$	30,975
	Investment in Redevelopment and Improvements	$	5,246		$	30,736		$	—		$	35,982
	11.    SEGMENT REPORTING (continued)
	Nine Months Ended September 30, 2014
	(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
	Revenues	$	91,974		$	39,938		$	11,944		$	143,856
	Property operating expenses, other operating and real estate taxes	(23,693		)	(14,426		)	—			(38,119		)
	General and administrative expenses	(18,191		)	(2,179		)	(528		)	(20,898		)
	Depreciation and amortization	(25,963		)	(10,092		)	—			(36,055		)
	Operating income	24,127			13,241			11,416			48,784
	Equity in earnings of unconsolidated affiliates	441			6,941			—			7,382
	Gain on disposition of properties of unconsolidated affiliates	—			102,855			—			102,855
	Loss on debt extinguishment	—			(269		)	—			(269		)
	Interest and other finance expense	(21,436		)	(8,891		)	—			(30,327		)
	Income tax (provision) benefit	(84		)	16			—			(68		)
	Gain on disposition of property	12,577			561			—			13,138
	Income from continuing operations	15,625			114,454			11,416			141,495
	Discontinued operations
	Gain on disposition of property	—			560			—			560
	Net income	15,625			115,014			11,416			142,055
Noncontrolling interests
Income from continuing operations	(2,834		)	(77,137		)	—			(79,971		)
Income from discontinued operations	—			(461		)	—			(461		)
Net income attributable to noncontrolling interests	(2,834		)	(77,598		)	—			(80,432		)
Net income attributable to Common Shareholders	$	12,791		$	37,416		$	11,416		$	61,623
Real Estate at Cost	$	1,280,087		$	835,637		$	—		$	2,115,724
Total Assets	$	1,289,107		$	1,071,135		$	94,409		$	2,454,651
Acquisition of Real Estate	$	136,978		$	—		$	—		$	136,978
Investment in Redevelopment and Improvements	$	3,711		$	101,338		$	—		$	105,049
11.    SEGMENT REPORTING (continued)
Nine Months Ended September 30, 2013
(dollars in thousands)	Core Portfolio			Funds			Structured Financing			Total
Revenues	$	82,252		$	32,666		$	9,265		$	124,183
Property operating expenses, other operating and real estate taxes	(21,098		)	(12,107		)	—			(33,205		)
General and administrative expenses	(16,042		)	(1,221		)	—			(17,263		)
Depreciation and amortization	(21,187		)	(8,091		)	—			(29,278		)
Operating income	23,925			11,247			9,265			44,437
Equity in (losses) earnings of unconsolidated affiliates	(96		)	7,370			—			7,274
Impairment of asset	(1,500		)	—			—			(1,500		)
Interest and other finance expense	(19,169		)	(10,637		)	—			(29,806		)
Income tax benefit (provision)	159			(216		)	—			(57		)
Income from continuing operations	3,319			7,764			9,265			20,348
Discontinued operations
Operating income from discontinued operations	384			5,010			—			5,394
Gain on disposition of property	—			4,191			—			4,191
Net income	3,703			16,965			9,265			29,933
Noncontrolling interests
Loss from continuing operations	—			6,103			—			6,103
Income from discontinued operations	(154		)	(8,017		)	—			(8,171		)
Net income attributable to noncontrolling interests	(154		)	(1,914		)	—			(2,068		)
Net income attributable to Common Shareholders	$	3,549		$	15,051		$	9,265		$	27,865
Real Estate at Cost	$	998,711		$	676,406		$	—		$	1,675,117
Total Assets	$	993,472		$	1,260,544		$	95,352		$	2,349,368
Acquisition of Real Estate	$	120,900		$	19,175		$	—		$	140,075
Investment in Redevelopment and Improvements	$	8,957		$	70,592		$	—		$	79,549

ORGANIZATION_AND_BASIS_OF_PRES3

ORGANIZATION AND BASIS OF PRESENTATION (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014
In Millions, unless otherwise specified	opportunity_fund	Core Portfolio	Opportunity Funds	Fund II	Operating Partnership, as General Partner or Managing Member	Institutional Investors [Member]
	property	property	property
Organization, Consolidation and Presentation of Financial Statements [Line Items]	'	'	'	'	'	'
Ownership interest by general partner or managing partner	'	'	'	'	94.00%	'
Number of retail properties (in properties)	138	84	54	'	'	'
Number of opportunity funds	4	'	'	'	'	'
Remaining funds rate of distribution to partnership	'	'	'	'	20.00%	'
Remaining funds rate of distribution to all partners	'	'	'	'	'	80.00%
Payments of dividends	'	'	'	$47.10	'	'

ORGANIZATION_AND_BASIS_OF_PRES4

ORGANIZATION AND BASIS OF PRESENTATION Summary of General Terms and Operating Partnership's Equity Interests (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014
Fund I and Mervyns I	'
Organization, Consolidation and Presentation of Financial Statements [Line Items]	'
Operating Partnership Share of Capital	22.22%	[1]
Committed Capital	$90	[1]
Capital Called	86.6	[1],[2]
Equity Interest Held By Operating Partnership	37.78%	[1]
Preferred Return	9.00%	[1]
Capital Returned	192.3	[1],[2]
Fund II and Mervyns II	'
Organization, Consolidation and Presentation of Financial Statements [Line Items]	'
Operating Partnership Share of Capital	20.00%	[3]
Committed Capital	300	[3]
Capital Called	300	[2],[3]
Equity Interest Held By Operating Partnership	20.00%	[3]
Preferred Return	8.00%	[3]
Capital Returned	131.6	[2],[3]
Fund III	'
Organization, Consolidation and Presentation of Financial Statements [Line Items]	'
Operating Partnership Share of Capital	19.90%
Committed Capital	475	[3]
Capital Called	372	[2]
Equity Interest Held By Operating Partnership	19.90%
Preferred Return	6.00%
Capital Returned	362.2	[2]
Fund IV	'
Organization, Consolidation and Presentation of Financial Statements [Line Items]	'
Operating Partnership Share of Capital	23.12%
Committed Capital	540.6	[3]
Capital Called	121	[2]
Equity Interest Held By Operating Partnership	23.12%
Preferred Return	6.00%
Capital Returned	$95.90	[2]
[1]	Fund I and Mervyns I have returned all capital and preferred return. The Operating Partnership is now entitled to a Promote on all future cash distributions.
[2]	Represents the total for the Funds, including the Operating Partnership and noncontrolling interests' shares.
[3]	During 2013, a distribution of $47.1 million was made to the Fund II investors, including the Operating Partnership. This amount is subject to recontribution to Fund II until December 2016, if needed to fund the on-going development and construction of existing projects.

EARNINGS_PER_COMMON_SHARE_Deta

EARNINGS PER COMMON SHARE (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2013
					Common stock	Common stock	Operating Partnership, as General Partner or Managing Member	Operating Partnership, as General Partner or Managing Member	Operating Partnership, as General Partner or Managing Member	Operating Partnership, as General Partner or Managing Member
									Series A Preferred Stock	Series A Preferred Stock
Schedule of Earnings Per Share, Basic and Diluted [Line Items]	'	'	'	'	'	'	'	'	'	'
Limited partners' common OP units (in shares)	'	'	'	'	'	'	2,863,331	1,457,467	188	188
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	'	'	'	'	25,067	25,067	'	'	'	'
Numerator	'	'	'	'	'	'	'	'	'	'
Income from continuing operations	$28,564	$8,895	$61,524	$26,451	'	'	'	'	'	'
Less: net income attributable to participating securities	-490	-157	-1,083	-468	'	'	'	'	'	'
Income from continuing operations, net of income attributable to participating securities	$28,074	$8,738	$60,441	$25,983	'	'	'	'	'	'
Denominator	'	'	'	'	'	'	'	'	'	'
Weighted average shares for basic earnings per share (in shares)	59,686,000	55,460,000	57,898,000	54,697,000	'	'	'	'	'	'
Effect of dilutive securities:	'	'	'	'	'	'	'	'	'	'
Employee Restricted Share Units and share options (in shares)	18,000	26,000	26,000	41,000	'	'	'	'	'	'
Convertible Preferred OP Units (in shares)	25,000	0	25,000	0	'	'	'	'	'	'
Denominator for diluted earnings per share (in shares)	59,729,000	55,486,000	57,949,000	54,738,000	'	'	'	'	'	'
Basic earnings per Common Share from continuing operations attributable to Common Shareholders (in dollars per share)	$0.47	$0.16	$1.04	$0.47	'	'	'	'	'	'
Diluted earnings per Common Share from continuing operations attributable to Common Shareholders (in dollars per share)	$0.47	$0.16	$1.04	$0.47	'	'	'	'	'	'

SHAREHOLDERS_EQUITY_AND_NONCON1

SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (Details) (USD $)	9 Months Ended				9 Months Ended			9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013
			Operating Partnership, as General Partner or Managing Member	Operating Partnership, as General Partner or Managing Member	Common OP units	Series A Preferred Stock	Series A Preferred Stock	At The Market Equity Program	LTIP Units	LTIP Units
						Operating Partnership, as General Partner or Managing Member	Operating Partnership, as General Partner or Managing Member	Common stock
Noncontrolling Interest [Line Items]	'	'	'	'	'	'	'	'	'	'
Common stock issued during the period (in shares)	'	'	'	'	'	'	'	4,300,000	'	'
Gross proceeds from issuance of common stock	'	'	'	'	'	'	'	$116,500,000	'	'
Proceeds from issuance of common stock	$113,749,000	$75,765,000	'	'	'	'	'	$114,900,000	'	'
Shares issued in connection with the acquisition of a property (in shares)	'	'	'	'	1,400,000	'	'	'	'	'
Limited partners' common OP units (in shares)	'	'	2,863,331	1,457,467	'	188	188	'	'	'
Share-based compensation, outstanding (in shares)	'	'	'	'	'	'	'	'	675,367	496,047

ACQUISITION_OF_REAL_ESTATE_AND2

ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS Acquisitions (Details) (USD $)	9 Months Ended
Share data in Millions, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	510,219		'
Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	161,032		'
Purchase Price	$243,709,000		'
Assumption of Debt	29,794,000		'
Acquisition costs	3,100,000		'
Fund IV	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	453,584		'
Purchase Price	59,225,000		'
Acquisition costs	3,000,000		'
11 E. Walton | Chicago, IL | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	6,738		'
Percent Owned	100.00%		'
Purchase Price	44,000,000		'
Assumption of Debt	0		'
61 Main Street | Westport, CT | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	3,400		'
Percent Owned	100.00%		'
Purchase Price	7,300,000		'
Assumption of Debt	0		'
865 W. North Avenue | Chicago, IL | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	16,000		'
Percent Owned	100.00%		'
Purchase Price	14,750,000		'
Assumption of Debt	0		'
252-256 Greenwich Avenue | Greenwich, CT | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	9,172		'
Percent Owned	100.00%		'
Purchase Price	24,450,000		'
Assumption of Debt	0		'
152-154 Spring Street | New York, NY | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	2,936		'
Percent Owned	90.00%		'
Purchase Price	38,000,000		'
Assumption of Debt	0		'
2520 Flatbush Avenue | Brooklyn, NY | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	29,114		'
Percent Owned	100.00%		'
Purchase Price	17,100,000		'
Assumption of Debt	0		'
Bedford Green | Bedford Hills, NY | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	90,472		'
Percent Owned	100.00%		'
Purchase Price	46,750,000		'
Assumption of Debt	29,794,000		'
131-135 Prince Street (1) | New York, NY | Core Portfolio	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	3,200		'
Percent Owned	100.00%		'
Purchase Price	51,359,000		'
Assumption of Debt	0		'
Broughton Street Portfolio | Savannah, GA | Fund IV	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	218,076	[1]	'
Percent Owned	50.00%	[1]	'
Purchase Price	33,856,000	[1]	'
Number of properties acquired	24		'
Number of properties acquired through asset acquisitions	9		'
Eden Square | Bear, DE | Fund IV	'		'
Business Acquisition [Line Items]	'		'
Gross leasable area (in square feet)	235,508	[2]	'
Percent Owned	90.00%	[2]	'
Purchase Price	25,369,000	[2]	'
Acquisitions In 2014	'		'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	'		'
Land	73,459,000		'
Buildings and improvements	220,375,000		'
Total consideration	293,834,000		'
Acquisitions in 2013	'		'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	'		'
Land	66,385,000		52,029,000
Buildings and improvements	144,617,000		173,605,000
Acquisition-related intangible assets (in Acquired lease intangibles, net)	19,574,000		0
Acquisition-related intangible liabilities (in Acquired lease intangibles, net)	-4,942,000		0
Total consideration	225,634,000		225,634,000
Adjustments [Abstract]	'		'
Land	14,356,000		'
Buildings and improvements	-28,988,000		'
Acquisition-related intangible assets (in Acquired lease intangibles, net)	19,574,000		'
Acquisition-related intangible liabilities (in Acquired lease intangibles, net)	-4,942,000		'
Total consideration	$0		'
Common OP units	'		'
Business Acquisition [Line Items]	'		'
Shares issued in connection with the acquisition of a property (in shares)	1.4		'
Common OP units | 131-135 Prince Street (1)	'		'
Business Acquisition [Line Items]	'		'
Shares issued in connection with the acquisition of a property (in shares)	1.4		'
[1]	The Broughton Street Portfolio consists of 24 properties. As the joint venture partner to these investments maintains operating control over the investments, these are accounted for under the equity method. Of the 24 properties, nine of them are accounted for as asset acquisitions as they were purchased vacant and require future development.
[2]	As the joint venture partner to this investment maintains operating control over this investment, it is accounted for under the equity method.

ACQUISITION_OF_REAL_ESTATE_AND3

ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS Dispositions (Details) (USD $)

9 Months Ended

9 Months Ended

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

sqft

Walnut Hill

Core Portfolio

Core Portfolio

Fund III

Fund III

Fund II

Fund II

Fund IV

Walnut Hill

Union Plaza

Sheepshead Bay

Lincoln Road Portfolio

City Point

Other post-sale adjustments

Lincoln Road Portfolio

sqft

sqft

sqft

sqft

sqft

sqft

sqft

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

'

'

'

'

'

'

'

'

'

Gross leasable area (in square feet)

510,219

'

297,905

[1]

0

96,418

61,443

[2]

0

[3]

0

54,453

[2]

Sale Price

$388,840,000

'

$0

[1]

$340,000

$20,200,000

$141,800,000

[2]

$26,300,000

[3]

$0

$200,200,000

[2]

Gain/Loss on Sale

154,940,000

'

12,402,000

[1]

190,000

1,399,000

86,600,000

[2]

561,000

[3]

-854,000

54,642,000

[2]

Non-recourse Debt

'

$22,900,000

'

'

'

'

'

'

'

[1]

This property was subject to $22.9 million of non-recourse debt and was foreclosed upon by the lender during March 2014, resulting in a $12.4 million gain.

[2]

Both the Fund III and Fund IV Lincoln Road Portfolios were unconsolidated and as such, the Company's share of gains related to these sales are included in gain on disposition of properties of unconsolidated affiliates in the 2014 Consolidated Statement of Income.

[3]

Represents the sale of a portion of the residential air rights known as "Tower 2" associated with the Company's City Point development project.

ACQUISITION_OF_REAL_ESTATE_AND4

ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS Discontinued Operations Results of Operations (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
ASSETS	'	'	'	'	'
Net real estate	'	'	'	'	$17,991
Rents receivable, net	'	'	'	'	565
Deferred charges, net	'	'	'	'	38
Prepaid expenses and other assets	'	'	'	'	1,840
Total assets of discontinued operations	0	'	0	'	20,434
LIABILITIES	'	'	'	'	'
Accounts payable and accrued expenses	'	'	'	'	1,473
Other liabilities	'	'	'	'	1,034
Total liabilities of discontinued operations	0	'	0	'	2,507
STATEMENTS OF INCOME	'	'	'	'	'
Total revenues	0	3,641	0	15,854	'
Total expenses	0	1,052	0	10,460	'
Operating income	0	2,589	0	5,394	'
Gain on disposition of property	0	0	560	4,191	'
Income from discontinued operations	0	2,589	560	9,585	'
Income from discontinued operations attributable to noncontrolling interests	0	-1,999	-461	-8,171	'
Income from discontinued operations attributable to Common Shareholders	$0	$590	$99	$1,414	'

INVESTMENTS_IN_AND_ADVANCES_TO2

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances	$123,693,000	'	$123,693,000	'	$181,322,000
Assets	'	'	'	'	'
Real estate under development	398,727,000	'	398,727,000	'	337,353,000
Investments in and advances to unconsolidated affiliates	123,693,000	'	123,693,000	'	181,322,000
Total assets	2,454,651,000	'	2,454,651,000	'	2,264,957,000
Liabilities and partners’ equity	'	'	'	'	'
Other liabilities	20,334,000	'	20,334,000	'	18,265,000
Total liabilities and equity	2,454,651,000	'	2,454,651,000	'	2,264,957,000
Company’s investment in and advances to unconsolidated affiliates	123,693,000	'	123,693,000	'	181,322,000
Company's share of distributions in excess of income from, and investments in, unconsolidated affiliates	-8,416,000	'	-8,416,000	'	-8,701,000
Combined and Condensed Statements of Operations	'	'	'	'	'
Total revenues	47,660,000	41,086,000	143,856,000	124,183,000	'
Operating and other expenses	-32,431,000	-27,961,000	-95,072,000	-79,746,000	'
Equity in (losses) earnings of unconsolidated affiliates	2,923,000	4,209,000	7,382,000	7,274,000	'
Depreciation and amortization	-12,884,000	-10,450,000	-36,055,000	-29,278,000	'
Loss on debt extinguishment	0	0	-269,000	0	'
Gain on disposition of properties of unconsolidated affiliates	102,855,000	0	102,855,000	0	'
Income from continuing operations	111,072,000	6,553,000	141,495,000	20,348,000	'
Unconsolidated Affiliates	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances	11,154,000	'	11,154,000	'	63,745,000
Assets	'	'	'	'	'
Rental property, net	235,949,000	'	235,949,000	'	380,268,000
Real estate under development	49,866,000	'	49,866,000	'	5,573,000
Investments in and advances to unconsolidated affiliates	11,154,000	'	11,154,000	'	63,745,000
Other assets	41,107,000	'	41,107,000	'	66,895,000
Total assets	338,076,000	'	338,076,000	'	516,481,000
Liabilities and partners’ equity	'	'	'	'	'
Mortgage notes payable	208,326,000	'	208,326,000	'	265,982,000
Other liabilities	51,611,000	'	51,611,000	'	43,733,000
Partners’ equity	78,139,000	'	78,139,000	'	206,766,000
Total liabilities and equity	338,076,000	'	338,076,000	'	516,481,000
Company’s investment in and advances to unconsolidated affiliates	11,154,000	'	11,154,000	'	63,745,000
Combined and Condensed Statements of Operations	'	'	'	'	'
Total revenues	10,280,000	13,731,000	34,632,000	35,577,000	'
Operating and other expenses	-3,840,000	-4,139,000	-13,158,000	-13,117,000	'
Interest and other finance expense	-1,808,000	-2,359,000	-7,308,000	-6,446,000	'
Equity in (losses) earnings of unconsolidated affiliates	0	1,284,000	-328,000	7,154,000	'
Depreciation and amortization	-2,275,000	-3,200,000	-8,456,000	-7,888,000	'
Loss on debt extinguishment	0	0	-187,000	0	'
Gain on disposition of properties of unconsolidated affiliates	142,377,000	0	142,615,000	0	'
Income from continuing operations	144,734,000	5,317,000	147,810,000	15,280,000	'
Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Combined and Condensed Statements of Operations	'	'	'	'	'
Equity in (losses) earnings of unconsolidated affiliates	105,778,000	4,209,000	110,237,000	7,274,000	'
Company’s share of net income	105,876,000	4,307,000	110,531,000	7,568,000	'
Amortization of excess investment	-98,000	-98,000	-294,000	-294,000	'
Core Portfolio	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Purchase Price	'	'	243,709,000	'	'
Combined and Condensed Statements of Operations	'	'	'	'	'
Total revenues	31,291,000	28,115,000	91,974,000	82,252,000	'
Equity in (losses) earnings of unconsolidated affiliates	118,000	-49,000	441,000	-96,000	'
Depreciation and amortization	-9,330,000	-7,890,000	-25,963,000	-21,187,000	'
Loss on debt extinguishment	'	'	0	'	'
Gain on disposition of properties of unconsolidated affiliates	0	'	0	'	'
Income from continuing operations	'	735,000	15,625,000	3,319,000	'
Core Portfolio | Crossroads	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Equity method investment, ownership percentage	49.00%	'	49.00%	'	'
Square footage of real estate property (in square feet)	311,000	'	311,000	'	'
Core Portfolio | Georgetown Portfolio	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Equity method investment, ownership percentage	50.00%	'	50.00%	'	'
Square footage of real estate property (in square feet)	28,000	'	28,000	'	'
Core Portfolio | Route 202 Shopping Center [Member]	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Equity method investment, ownership percentage	22.22%	'	22.22%	'	'
Square footage of real estate property (in square feet)	20,000	'	20,000	'	'
Funds	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Number of unaffiliated partners	'	'	2	'	'
Combined and Condensed Statements of Operations	'	'	'	'	'
Total revenues	13,363,000	10,002,000	39,938,000	32,666,000	'
Equity in (losses) earnings of unconsolidated affiliates	2,805,000	4,258,000	6,941,000	7,370,000	'
Depreciation and amortization	-3,554,000	-2,560,000	-10,092,000	-8,091,000	'
Loss on debt extinguishment	'	'	-269,000	'	'
Gain on disposition of properties of unconsolidated affiliates	102,855,000	'	102,855,000	'	'
Income from continuing operations	'	2,849,000	114,454,000	7,764,000	'
Funds | KLAC Rex Venture LLC	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	1,200,000	'	'
Funds | KLAC Rex Venture LLC | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	500,000	'	'
Funds | Corporate Joint Venture	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances	63,216,000	'	63,216,000	'	'
Distributions	'	'	147,849,000	'	'
Assets	'	'	'	'	'
Investments in and advances to unconsolidated affiliates	63,216,000	'	63,216,000	'	'
Liabilities and partners’ equity	'	'	'	'	'
Company’s investment in and advances to unconsolidated affiliates	63,216,000	'	63,216,000	'	'
Funds | Corporate Joint Venture | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances	12,070,000	'	12,070,000	'	'
Distributions	'	'	31,787,000	'	'
Assets	'	'	'	'	'
Investments in and advances to unconsolidated affiliates	12,070,000	'	12,070,000	'	'
Liabilities and partners’ equity	'	'	'	'	'
Company’s investment in and advances to unconsolidated affiliates	12,070,000	'	12,070,000	'	'
Funds | Mervyns I	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	700,000	'	'
Funds | Mervyns I and Mervyns II | KLA/Mervyns LLC Add-On Investments	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	7,547,000	'	7,547,000	'	'
Distributions	'	'	5,789,000	'	'
Funds | Mervyns I and Mervyns II | KLA/Mervyns LLC Add-On Investments | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	1,252,000	'	1,252,000	'	'
Distributions	'	'	1,284,000	'	'
Funds | Mervyns II	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	800,000	'	'
Funds | Mervyns II | KLA A Markets LLC Add-On Investments	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	2,416,000	'	2,416,000	'	'
Distributions	'	'	4,864,000	'	'
Funds | Mervyns II | KLA A Markets LLC Add-On Investments | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	388,000	'	388,000	'	'
Distributions	'	'	972,000	'	'
Funds | Mervyns II | KLAC Rex Venture LLC	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	2,701,000	'	2,701,000	'	'
Distributions	'	'	1,956,000	'	'
Funds | Mervyns II | KLAC Rex Venture LLC | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	535,000	'	535,000	'	'
Distributions	'	'	392,000	'	'
Funds | Fund II | KA-Shopko LLC	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	1,110,000	'	1,110,000	'	'
Distributions	'	'	2,460,000	'	'
Funds | Fund II | KA-Shopko LLC | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	222,000	'	222,000	'	'
Distributions	'	'	492,000	'	'
Funds | Fund II | Marsh and Add-On Investments	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	2,667,000	'	2,667,000	'	'
Distributions	'	'	2,639,000	'	'
Funds | Fund II | Marsh and Add-On Investments | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances, cost method investments	533,000	'	533,000	'	'
Distributions	'	'	528,000	'	'
Funds | KLA/Mervyns LLC | Mervyns I and Mervyns II	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	48,547,000	'	'
Invested Capital and Advances, equity method investments	26,058,000	'	26,058,000	'	'
Funds | KLA/Mervyns LLC | Mervyns I and Mervyns II | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	11,801,000	'	'
Invested Capital and Advances, equity method investments	4,901,000	'	4,901,000	'	'
Funds | KLA A Markets LLC | Mervyns II	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	81,594,000	'	'
Invested Capital and Advances, equity method investments	20,717,000	'	20,717,000	'	'
Funds | KLA A Markets LLC | Mervyns II | Operating Partnership, as General Partner or Managing Member	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Distributions, equity method investment	'	'	16,318,000	'	'
Invested Capital and Advances, equity method investments	4,239,000	'	4,239,000	'	'
Fund IV	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Purchase Price	'	'	59,225,000	'	'
Fund IV | Lincoln Road Portfolio | Miami, FL	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Investment, aggregate sales price	200,200,000	'	'	'	'
Number Of Properties Sold	3	'	'	'	'
Gain (Loss) on Sale of Investments	54,600,000	'	'	'	'
Fund IV | Savannah, GA	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances	7,800,000	'	7,800,000	'	'
Investments in affiliates subsidiaries associates and joint ventures, loan commitment	69,000,000	'	69,000,000	'	'
Number of properties acquired	'	'	24	'	'
Purchase Price	'	'	33,900,000	'	'
Assets	'	'	'	'	'
Investments in and advances to unconsolidated affiliates	7,800,000	'	7,800,000	'	'
Liabilities and partners’ equity	'	'	'	'	'
Company’s investment in and advances to unconsolidated affiliates	7,800,000	'	7,800,000	'	'
Fund IV | Bear, DE	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Invested Capital and Advances	25,400,000	'	25,400,000	'	'
Assets	'	'	'	'	'
Investments in and advances to unconsolidated affiliates	25,400,000	'	25,400,000	'	'
Liabilities and partners’ equity	'	'	'	'	'
Company’s investment in and advances to unconsolidated affiliates	25,400,000	'	25,400,000	'	'
Fund IV | Corporate Joint Venture | Savannah, GA	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Investments in affiliates subsidiaries associates and joint ventures, loan commitment	25,900,000	'	25,900,000	'	'
Fund III | Lincoln Road Portfolio | Miami, FL	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Investment, aggregate sales price	141,800,000	'	'	'	'
Number Of Properties Sold	3	'	'	'	'
Gain (Loss) on Sale of Investments	$86,700,000	'	'	'	'

NOTES_RECEIVABLE_AND_PREFERRED2

NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENTS, NET Schedule of Notes Receivable (Details) (USD $)

1 Months Ended

9 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Jul. 31, 2014

Sep. 30, 2014

Apr. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

31-May-14

Dec. 31, 2013

Jul. 31, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Jul. 31, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Jan. 31, 2014

Apr. 30, 2014

Jan. 31, 2014

Apr. 30, 2014

Apr. 30, 2014

loan

152-154 Spring Street

Construction Loan, 7.0% Percent, Due 2015

Construction Loan, 7.0% Percent, Due 2015

First Mortgage Loan, 6% Loan Due On Demand

First Mortgage Loan, 6% Loan Due On Demand

Mezzanine Loan, 10% Due On Demand

Mezzanine Loan, 10% Due On Demand

First Mortgage Loan, 5.5% Loan Due 2016

First Mortgage Loan, 5.5% Loan Due 2016

Zero Coupon Loan

Zero Coupon Loan

Mezzanine Loan, 15% Due 2020

Mezzanine Loan, 15% Due 2020

Mezzanine Loan Due Upon Capital Event

Mezzanine Loan Due Upon Capital Event

Preferred Equity, 8.1% Loan, Due 2017

Preferred Equity, 8.1% Loan, Due 2017

Mezzanine Loan, 12.7% Loan, Due 2015

Mezzanine Loan, 12.7% Loan, Due 2015

Mezzanine Loan, 12.7% Loan, Due 2015

Mezzanine Loan, 12.7% Loan, Due 2015

Preferred Equity, 13.5% Loan, Due 2016

Preferred Equity, 13.5% Loan, Due 2016

Preferred Equity, 13.5% Loan, Due 2016

Other Loan, 2.5% Plus LIBOR Variable Interest Rate, Due 2020

Other Loan, 2.5% Plus LIBOR Variable Interest Rate, Due 2020

Other Loan, 2.5% Plus LIBOR Variable Interest Rate, Due 2020

Other Loan, 2.5% Plus LIBOR Variable Interest Rate, Due 2020

Other Loan, 18%, Due 2017

Other Loan, 18%, Due 2017

Other Loan, 18%, Due 2017

Individually Less Than 3 Percent, Variable Interest Rate

Individually Less Than 3 Percent, Variable Interest Rate

Individually Less Than 3 Percent, Variable Interest Rate

Individually Less Than 3 Percent, Variable Interest Rate

First Mortgage Loan, 8.0% Loan Due 2013

Mezzanine Loan

Mezzanine Loan

Mezzanine Loan

Mortgage Loan, Libor Plus 3.75% Loan, Due 2024

borrower

LIBOR

loan

Minimum

Maximum

LIBOR

loan

Mortgage Loans on Real Estate [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net carrying amount

$94,400,000

$94,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Effective interest rate

'

'

'

'

'

7.70%

[1]

'

6.00%

[1]

'

10.00%

[1],[2]

'

5.50%

[1]

'

24.00%

[1],[3]

'

15.00%

[1]

'

15.00%

[1]

'

8.10%

[1]

'

'

12.70%

[1]

12.70%

'

13.50%

[1]

13.50%

[1]

'

'

'

'

'

18.00%

[1]

18.00%

[1]

'

'

'

2.70%

[1]

11.60%

[1]

'

'

'

'

'

First Priority liens

'

'

'

'

'

0

'

0

'

83,686,000

[2]

'

0

'

166,200,000

[3]

'

0

'

0

'

20,855,000

'

'

18,900,000

'

'

0

'

'

'

0

'

'

0

'

'

0

[4]

'

'

'

'

'

'

'

'

Net carrying amounts of notes receivable

94,409,000

94,409,000

'

126,656,000

'

12,000,000

12,000,000

0

6,400,000

7,895,000

[2]

9,089,000

[2]

4,000,000

42,000,000

4,847,000

[3]

4,431,000

[3]

30,879,000

30,879,000

0

3,834,000

13,000,000

13,000,000

'

8,000,000

13,000,000

0

4,000,000

4,000,000

0

4,000,000

4,000,000

3,000,000

'

3,157,000

4,800,000

0

2,631,000

[4]

2,023,000

[4]

'

'

'

8,500,000

'

'

1,900,000

Loans receivable, basis spread on variable rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.50%

'

'

'

'

'

'

'

'

'

'

3.75%

'

Number of cross collateralized loans

'

'

'

'

'

'

'

'

'

3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of borrowers

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3

'

'

'

'

'

'

'

'

Collection of notes receivable

1,900,000

18,095,000

15,779,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,400,000

10,300,000

1,400,000

'

'

Mortgage loans on real estate, collections of principal

1,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

700,000

'

'

Mortgage Loans On Real Estate, Collections Of Interest

700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income related to the payoff of notes receivable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

700,000

'

'

Mortgage loans on real estate, exchange of mortgage for investment

'

'

'

'

38,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage loans on real estate, write-down or reserve, amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000,000

'

'

'

Mortgage loans on real estate, additional loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of non-performing loans

'

3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage loans on real estate, nonperforming loans, amount

7,900,000

7,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage loans on real estate, nonperforming loans, write-down or reserve amount

$100,000

$100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Includes origination and exit fees

[2]

Comprised of three cross-collateralized loans from one borrower, which are non-performing

[3]

The principal balance for this accrual-only loan is increased by the interest accrued

[4]

Consists of three loans as of September 30, 2014

NOTES_RECEIVABLE_AND_PREFERRED3

NOTES RECEIVABLE AND PREFERRED EQUITY INVESTMENTS, NET Allowance for Notes Receivable (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]	'
Balance at beginning of period	$3,681
Additional reserves	88
Recoveries	-3,681
Charge-offs and reclassifications	0
Balance at period end	$88

DERIVATIVE_FINANCIAL_INSTRUMEN1

DERIVATIVE FINANCIAL INSTRUMENTS (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]	'	'
Accumulated other comprehensive income - unrealized loss on valuation of swap agreements	($1,600,000)	$1,100,000
Other Liabilities | Level 2	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative financial instruments, liabilities	2,600,000	2,000,000
Prepaid Expenses and Other Assets | Level 2	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative financial instruments, assets	1,100,000	3,100,000
Cash Flow Hedging | Variable-Rate Derivatives | Minimum	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative, cap interest rate	3.00%	'
Cash Flow Hedging | Variable-Rate Derivatives | Maximum	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative, cap interest rate	4.25%	'
Interest Rate Swap | Cash Flow Hedging | Fixed-Rate Derivatives	'	'
Derivatives, Fair Value [Line Items]	'	'
Number of interest rate swaps (in interest rate swaps)	12	'
Notional amount of interest rate cash flow hedge derivatives	191,500,000	'
Interest Rate Swap | Cash Flow Hedging | Fixed-Rate Derivatives | Minimum	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative, fixed interest rate	0.70%	'
Interest Rate Swap | Cash Flow Hedging | Fixed-Rate Derivatives | Maximum	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative, fixed interest rate	3.77%	'
Interest Rate Swap | Cash Flow Hedging | Variable-Rate Derivatives	'	'
Derivatives, Fair Value [Line Items]	'	'
Notional amount of interest rate cash flow hedge derivatives	$139,900,000	'
Derivative, number of instruments held	4	'

MORTGAGE_AND_OTHER_NOTES_PAYAB2

MORTGAGE AND OTHER NOTES PAYABLE - MORTGAGE BY PROPERTY (Details) (Mortgages, USD $)

9 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Apr. 30, 2014

Sep. 30, 2014

Jun. 30, 2014

Jan. 31, 2014

Jan. 31, 2014

Sep. 30, 2014

Apr. 30, 2014

Sep. 30, 2014

Feb. 28, 2014

Feb. 28, 2014

Mar. 31, 2014

Mar. 31, 2014

Apr. 30, 2014

Apr. 30, 2014

31-May-14

Jun. 30, 2014

Jul. 31, 2014

City Point

6.35% Mortgage Note

6.35% Mortgage Note

5.64% Mortgage Note

5.64% Mortgage Note

LIBOR Plus 1.65% Mortgage Note

Libor Plus 2.25% Mortgage Note

Libor Plus 2.25% Mortgage Note

Libor Plus 2.25% Mortgage Note

Libor Plus 2.25% Mortgage Note

Libor Plus 2.25% Mortgage Note

Libor Plus 1.55% Mortgage Note

LIBOR Plus 1.88%, Mortgage Note

LIBOR Plus 1.70% Mortgage Note

LIBOR Plus 2.15% Mortgage Note

LIBOR Plus 1.85% Mortgage Note

LIBOR Plus 2.35% Mortgage Note

LIBOR Plus 1.75%, Mortgage Note

5.95% Percent Mortgage Note

Clark Diversey

Clark Diversey

New Loudon Center

New Loudon Center

664 N. Michigan

New Hyde Park Shopping Center

New Hyde Park Shopping Center

New Hyde Park Shopping Center

Heritage Shops

Heritage Shops

Heritage Shops

654 Broadway

Paramus Plaza

Lake Montclair

New Hyde Park Shopping Center

938 W. North

1151 Third Ave

Bedford Green

LIBOR

LIBOR

Mortgage Loans on Real Estate [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument face amount

$235,408,000

$60,514,000

[1]

'

$0

'

$0

$45,000,000

$1,500,000

'

'

'

'

$24,500,000

$9,000,000

$12,600,000

$15,500,000

$12,000,000

$12,500,000

$12,500,000

$29,794,000

Description of variable rate basis

'

'

'

'

'

'

'LIBOR

'LIBOR

'

'LIBOR

'

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'LIBOR

'

Basis spread on variable rate

'

'

'

'

'

'

1.65%

2.25%

'

2.25%

'

2.25%

1.55%

1.88%

1.70%

2.15%

1.85%

2.35%

1.75%

'

Stated interest rate percentage

'

'

'

6.35%

'

5.64%

'

'

'

'

'

'

'

'

'

'

'

'

'

5.95%

Repayments of long-term debt

$46,100,000

'

$4,200,000

'

$13,300,000

'

'

'

$7,700,000

'

$20,900,000

'

'

'

'

'

'

'

'

'

[1]

As of September 30, 2014, $198.5 million of funds have been released under the Company's EB-5 loan relating to its City Point project into a restricted cash account. $149.2 million has been drawn to fund construction activities, with $49.3 million remaining in the restricted cash account at September 30, 2014.

MORTGAGE_AND_OTHER_NOTES_PAYAB3

MORTGAGE AND OTHER NOTES PAYABLE (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
			Construction Loans	Unsecured Debt	Unsecured Debt	Unsecured Debt	Unsecured Debt	Unsecured Debt	Unsecured Debt	Line of Credit
			City Point	Unsecured credit facility	Unsecured credit facility	Unsecured credit facility	Unsecured credit facility	Unsecured Credit Facility, Term Loan [Member]	Unsecured Credit Facility, Term Loan [Member]	Subscription Line
				Line of Credit	Line of Credit	Line of Credit	Line of Credit		25-Nov-19	Fund IV
					LIBOR	LIBOR	LIBOR
					31-Jan-16	31-Jan-18	25-Nov-19
Mortgage Loans on Real Estate [Line Items]	'	'	'	'	'	'	'	'	'	'
Proceeds from lines of credit	'	'	'	$15,000,000	'	'	'	'	'	'
Repayments of long-term debt	'	'	'	15,000,000	'	'	'	'	'	68,800,000
Long-term line of credit	'	'	'	0	'	'	'	'	'	'
Mortgage and other notes payable	1,141,066,000	1,039,997,000	'	'	'	'	'	50,000,000	50,000,000	67,400,000
New mortgage loans	'	'	'	'	'	'	'	'	'	67,400,000
Basis spread on variable rate	'	'	'	'	1.55%	1.40%	1.30%	'	'	'
Unused fee percentage	'	'	'	'	0.35%	0.25%	'	'	'	'
Construction loan, amount released into restricted cash	'	'	198,500,000	'	'	'	'	'	'	'
Construction loan, amount withdrawn from restricted cash	'	'	149,200,000	'	'	'	'	'	'	'
Construction loan, amount released into restricted Cash, amount available	'	'	$49,300,000	'	'	'	'	'	'	'

FAIR_VALUE_MEASUREMENTS_Schedu

FAIR VALUE MEASUREMENTS Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (Fair Value, Measurements, Recurring, USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Level 1	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative financial instruments, assets	$0
Derivative financial instruments, liabilities	0
Level 2	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative financial instruments, assets	1,076
Derivative financial instruments, liabilities	2,618
Level 3	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative financial instruments, assets	0
Derivative financial instruments, liabilities	$0

FAIR_VALUE_MEASUREMENTS_Fair_V

FAIR VALUE MEASUREMENTS Fair Value by Balance Sheet Grouping (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Carrying Amount	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Notes Receivable and Preferred Equity Investments	$94,409	$126,656
Mortgage, Convertible Notes and Other Notes Payable	1,141,066	1,039,997
Estimated Fair Value	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Notes Receivable and Preferred Equity Investments	94,409	126,656
Mortgage, Convertible Notes and Other Notes Payable	$1,155,499	$1,056,457

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Lead Trustee	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Related party transaction expense	$0	$25,000	$0	$75,000
Unconsolidated Affiliates	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Revenue from related parties	$60,000	$20,000	$100,000	$60,000

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
			segment
Segment Reporting Information [Line Items]	'	'	'	'
Number of reportable segments	'	'	3	'
Revenues	$47,660	$41,086	$143,856	$124,183
Property operating expenses, other operating and real estate taxes	-12,424	-12,176	-38,119	-33,205
General and administrative expenses	-7,123	-5,335	-20,898	-17,263
Depreciation and amortization	-12,884	-10,450	-36,055	-29,278
Operating income	15,229	13,125	48,784	44,437
Equity in (losses) earnings of unconsolidated affiliates	2,923	4,209	7,382	7,274
Gain on disposition of properties of unconsolidated affiliates	102,855	0	102,855	0
Impairment of asset	0	0	0	-1,500
Loss on debt extinguishment	0	0	-269	0
Gain on disposition of property	190	0	13,138	0
Interest and other finance expense	-10,142	-10,595	-30,327	-29,806
Income tax benefit (provision)	17	-186	-68	-57
Income from continuing operations	111,072	6,553	141,495	20,348
Operating income from discontinued operations	0	2,589	0	5,394
Gain on disposition of property	0	0	560	4,191
Net income	111,072	9,142	142,055	29,933
Income from continuing operations	-82,508	2,342	-79,971	6,103
Income from discontinued operations	0	-1,999	-461	-8,171
Net (income) loss attributable to noncontrolling interests	-82,508	343	-80,432	-2,068
Net income attributable to Common Shareholders	28,564	9,485	61,623	27,865
Real Estate at Cost	2,115,724	1,675,117	2,115,724	1,675,117
Total Assets	2,454,651	2,349,368	2,454,651	2,349,368
Acquisition of Real Estate	29,378	30,975	136,978	140,075
Investment in Redevelopment and Improvements	36,736	35,982	105,049	79,549
Core Portfolio	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	31,291	28,115	91,974	82,252
Property operating expenses, other operating and real estate taxes	-8,198	-7,723	-23,693	-21,098
General and administrative expenses	-5,828	-4,954	-18,191	-16,042
Depreciation and amortization	-9,330	-7,890	-25,963	-21,187
Operating income	7,935	7,548	24,127	23,925
Equity in (losses) earnings of unconsolidated affiliates	118	-49	441	-96
Gain on disposition of properties of unconsolidated affiliates	0	'	0	'
Impairment of asset	'	'	'	-1,500
Loss on debt extinguishment	'	'	0	'
Gain on disposition of property	190	'	12,577	'
Interest and other finance expense	-7,274	-6,683	-21,436	-19,169
Income tax benefit (provision)	-71	-81	-84	159
Income from continuing operations	'	735	15,625	3,319
Operating income from discontinued operations	'	171	'	384
Gain on disposition of property	'	'	0	0
Net income	898	906	15,625	3,703
Income from continuing operations	'	0	-2,834	0
Income from discontinued operations	'	-68	0	-154
Net (income) loss attributable to noncontrolling interests	-1,465	-68	-2,834	-154
Net income attributable to Common Shareholders	-567	838	12,791	3,549
Real Estate at Cost	1,280,087	998,711	1,280,087	998,711
Total Assets	1,289,107	993,472	1,289,107	993,472
Acquisition of Real Estate	29,378	11,800	136,978	120,900
Investment in Redevelopment and Improvements	650	5,246	3,711	8,957
Funds	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	13,363	10,002	39,938	32,666
Property operating expenses, other operating and real estate taxes	-4,226	-4,453	-14,426	-12,107
General and administrative expenses	-1,054	-381	-2,179	-1,221
Depreciation and amortization	-3,554	-2,560	-10,092	-8,091
Operating income	4,529	2,608	13,241	11,247
Equity in (losses) earnings of unconsolidated affiliates	2,805	4,258	6,941	7,370
Gain on disposition of properties of unconsolidated affiliates	102,855	'	102,855	'
Impairment of asset	'	'	'	0
Loss on debt extinguishment	'	'	-269	'
Gain on disposition of property	0	'	561	'
Interest and other finance expense	-2,868	-3,912	-8,891	-10,637
Income tax benefit (provision)	88	-105	16	-216
Income from continuing operations	'	2,849	114,454	7,764
Operating income from discontinued operations	'	2,418	'	5,010
Gain on disposition of property	'	'	560	4,191
Net income	107,409	5,267	115,014	16,965
Income from continuing operations	'	2,342	-77,137	6,103
Income from discontinued operations	'	-1,931	-461	-8,017
Net (income) loss attributable to noncontrolling interests	-81,043	411	-77,598	-1,914
Net income attributable to Common Shareholders	26,366	5,678	37,416	15,051
Real Estate at Cost	835,637	676,406	835,637	676,406
Total Assets	1,071,135	1,260,544	1,071,135	1,260,544
Acquisition of Real Estate	0	19,175	0	19,175
Investment in Redevelopment and Improvements	36,086	30,736	101,338	70,592
Structured Financing	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	3,006	2,969	11,944	9,265
Property operating expenses, other operating and real estate taxes	0	0	0	0
General and administrative expenses	-241	0	-528	0
Depreciation and amortization	0	0	0	0
Operating income	2,765	2,969	11,416	9,265
Equity in (losses) earnings of unconsolidated affiliates	0	0	0	0
Gain on disposition of properties of unconsolidated affiliates	0	'	0	'
Impairment of asset	'	'	'	0
Loss on debt extinguishment	'	'	0	'
Gain on disposition of property	0	'	0	'
Interest and other finance expense	0	0	0	0
Income tax benefit (provision)	0	0	0	0
Income from continuing operations	'	2,969	11,416	9,265
Operating income from discontinued operations	'	0	'	0
Gain on disposition of property	'	'	0	0
Net income	2,765	2,969	11,416	9,265
Income from continuing operations	'	0	0	0
Income from discontinued operations	'	0	0	0
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Common Shareholders	2,765	2,969	11,416	9,265
Real Estate at Cost	0	0	0	0
Total Assets	94,409	95,352	94,409	95,352
Acquisition of Real Estate	0	0	0	0
Investment in Redevelopment and Improvements	$0	$0	$0	$0

LONGTERM_INCENTIVE_COMPENSATIO1

LONG-TERM INCENTIVE COMPENSATION (Details) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Feb. 28, 2014

Dec. 31, 2009

Dec. 31, 2009

Feb. 28, 2014

Mar. 31, 2014

Jun. 04, 2014

Feb. 28, 2014

Feb. 28, 2014

Jun. 04, 2014

Jun. 04, 2014

Jun. 04, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Officer

Senior Executives

Senior Executives

LTIP Units

LTIP Units

LTIP Units

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

LTIP Units and Restricted Stock

LTIP Units and Restricted Stock

LTIP Units and Restricted Stock

LTIP Units and Restricted Stock

LTIP Units and Restricted Stock

LTIP Units and Restricted Stock

LTIP Units and Restricted Stock

LTIP Units and Restricted Stock

Long Term Investment Alignment Program

Long Term Investment Alignment Program

Officer

Kenneth Bernstein

Trustee

Officer

Other Employees

Trustee

Trustee

Trustee

Trustee

Trustee

Fund IV

Vesting on first anniversary

Vesting on first anniversary

Vesting over each of next three years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock issued during period, shares, share-based compensation, net of forfeitures (in shares)

'

'

'

'

'

'

'

326,230

114,198

1,518

918

10,527

17,118

6,276

10,842

'

'

'

'

'

'

'

'

Percent of awards issued to officers subject to performance measures

'

'

'

'

16.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based compensation arrangement by share-based payment award, award vesting period

'

'

'

'

'

'

'

'

'5 years

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

Stock granted during period, value, share-based compensation, net of forfeitures

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$11,900,000

'

$11,400,000

'

'

'

'

Long term incentive and share based compensation expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,600,000

'

1,300,000

4,600,000

3,800,000

500,000

'

'

Share-based compensation expense

'

'

5,542,000

4,590,000

'

'

'

'

'

'

'

'

'

'

'

600,000

'

'

1,600,000

'

'

'

'

Share-based compensation arrangement by share-based payment award, award vesting rights, percentage

'

'

'

'

'

'

'

'

'

'

'

'

33.00%

'

'

'

'

'

'

'

'

'

'

Trustee fee expense

$200,000

$100,000

$600,000

$500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$80,000

$120,000

Maximum percentage of promote to be awarded as share based compensation awards

'

'

'

'

'

25.00%

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	9 Months Ended				1 Months Ended
Share data in Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Oct. 31, 2014	Oct. 31, 2014	Oct. 31, 2014	Oct. 31, 2014
			Common stock	Fund IV	Subsequent Event	Subsequent Event	Subsequent Event	Subsequent Event
					Public share offering	Shops At Grand Avenue	27 E. 61st Street	17 East 71st Street
					Common stock	Queens, NY	Manhattan, NY	Manhattan, NY
							Fund IV	Fund IV
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'
Purchase Price	'	'	'	$59,225,000	'	$56,000,000	$19,300,000	$28,000,000
Common stock issued during the period (in shares)	'	'	4,254	'	3,900	'	'	'
Gross proceeds from issuance of common stock	'	'	'	'	116,300,000	'	'	'
Proceeds from issuance of common stock	$113,749,000	$75,765,000	'	'	$114,800,000	'	'	'