falsedesktopAKR2020-09-30000156459020051599{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Maryland (State or other jurisdiction of incorporation or organization)\t23-2715194 (I.R.S. Employer Identification No.)\n411 THEODORE FREMD AVENUE SUITE 300 RYE NY (Address of principal executive offices)\t10580 (Zip Code)\n", "q10k_tbl_1": "Large Accelerated Filer\t☒\tAccelerated Filer\t☐\tEmerging Growth Company ☐\nNon-accelerated Filer\t☐\tSmaller Reporting Company\t☐\t\n", "q10k_tbl_2": "Item No.\tDescription\tPage\n\tPART I - FINANCIAL INFORMATION\t\n1.\tFinancial Statements\t4\n\tConsolidated Balance Sheets as of September 30 2020 (Unaudited) and December 31 2019\t4\n\tConsolidated Statements of Operations (Unaudited) for the Three and Nine Months Ended September 30 2020 and 2019\t5\n\tConsolidated Statements of Comprehensive Income (Loss) (Unaudited) for the Three and Nine Months Ended September 30 2020 and 2019\t6\n\tConsolidated Statements of Changes in Shareholders' Equity (Unaudited) for the Three and Nine Months Ended September 30 2020 and 2019\t7\n\tConsolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30 2020 and 2019\t9\n\tNotes to Consolidated Financial Statements (Unaudited)\t11\n2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t49\n3.\tQuantitative and Qualitative Disclosures about Market Risk\t63\n4.\tControls and Procedures\t65\n\tPART II - OTHER INFORMATION\t\n1.\tLegal Proceedings\t65\n1A.\tRisk Factors\t66\n2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t67\n3.\tDefaults Upon Senior Securities\t67\n4.\tMine Safety Disclosures\t67\n5.\tOther Information\t67\n6.\tExhibits\t68\n\tSignatures\t69\n", "q10k_tbl_3": "\tSeptember 30\tDecember 31\n(dollars in thousands except per share amounts)\t2020\t2019\nASSETS\t(Unaudited)\t\nInvestments in real estate at cost\t\t\nOperating real estate net\t3347431\t3355913\nReal estate under development\t268298\t253402\nNet investments in real estate\t3615729\t3609315\nNotes receivable net\t134798\t114943\nInvestments in and advances to unconsolidated affiliates\t240414\t305097\nOther assets net\t183170\t190658\nCash and cash equivalents\t16108\t15845\nRestricted cash\t13673\t14165\nRents receivable\t47516\t59091\nTotal assets\t4251408\t4309114\nLIABILITIES\t\t\nMortgage and other notes payable net\t1159688\t1170076\nUnsecured notes payable net\t502500\t477320\nUnsecured line of credit\t127400\t60800\nAccounts payable and other liabilities\t394111\t371516\nDividends and distributions payable\t147\t27075\nDistributions in excess of income from and investments in unconsolidated affiliates\t15462\t15362\nTotal liabilities\t2199308\t2122149\nCommitments and contingencies\t\t\nEQUITY\t\t\nAcadia Shareholders' Equity\t\t\nCommon shares $0.001 par value authorized 200000000 shares issued and outstanding 86266122 and 87050465 shares respectively\t86\t87\nAdditional paid-in capital\t1695338\t1706357\nAccumulated other comprehensive loss\t(85873)\t(31175)\nDistributions in excess of accumulated earnings\t(156321)\t(132961)\nTotal Acadia shareholders' equity\t1453230\t1542308\nNoncontrolling interests\t598870\t644657\nTotal equity\t2052100\t2186965\nTotal liabilities and equity\t4251408\t4309114\n", "q10k_tbl_4": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(in thousands except per share amounts)\t2020\t2019\t2020\t2019\nRevenues\t\t\t\t\nRental income\t50300\t72191\t183396\t214490\nOther\t981\t1136\t3078\t3053\nTotal revenues\t51281\t73327\t186474\t217543\nOperating expenses\t\t\t\t\nDepreciation and amortization\t34457\t32170\t101627\t92807\nGeneral and administrative\t8625\t8222\t26415\t25579\nReal estate taxes\t10689\t10225\t31833\t29680\nProperty operating\t11559\t13180\t41685\t37267\nImpairment charges\t0\t321\t51549\t1721\nTotal operating expenses\t65330\t64118\t253109\t187054\nGain on disposition of properties\t24\t12056\t509\t14070\nOperating (loss) income\t(14025)\t21265\t(66126)\t44559\nEquity in (losses) earnings of unconsolidated affiliates\t(624)\t1299\t(155)\t7129\nInterest and other income\t2132\t6782\t7156\t13194\nRealized and unrealized holding (losses) gains on investments and other\t(7946)\t0\t79335\t0\nInterest expense\t(17752)\t(19103)\t(54373)\t(56721)\n(Loss) income from continuing operations before income taxes\t(38215)\t10243\t(34163)\t8161\nIncome tax (provision) benefit\t(74)\t(1403)\t741\t(1622)\nNet (loss) income\t(38289)\t8840\t(33422)\t6539\nNet loss attributable to noncontrolling interests\t29259\t1618\t35388\t25196\nNet (loss) income attributable to Acadia\t(9030)\t10458\t1966\t31735\nBasic and diluted (loss) earnings per share\t(0.10)\t0.12\t0.02\t0.38\n", "q10k_tbl_5": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(in thousands)\t2020\t2019\t2020\t2019\nNet (loss) income\t(38289)\t8840\t(33422)\t6539\nOther comprehensive income (loss):\t\t\t\t\nUnrealized gain (loss) on valuation of swap agreements\t952\t(15388)\t(82444)\t(51347)\nReclassification of realized interest on swap agreements\t5506\t(288)\t9598\t(1374)\nOther comprehensive income (loss)\t6458\t(15676)\t(72846)\t(52721)\nComprehensive loss\t(31831)\t(6836)\t(106268)\t(46182)\nComprehensive loss attributable to noncontrolling interests\t27137\t2726\t53536\t33263\nComprehensive loss attributable to Acadia\t(4694)\t(4110)\t(52732)\t(12919)\n", "q10k_tbl_6": "\tAcadia Shareholders\t\t\t\t\t\t\t\n(in thousands except per share amounts)\tCommon Shares\tShare Amount\tAdditional Paid-in Capital\tAccumulated Other Comprehensive Loss\tDistributions in Excess of Accumulated Earnings\tTotal Common Shareholders' Equity\tNoncontrolling Interests\tTotal Equity\nBalance at July 1 2020\t86265\t86\t1693006\t(90209)\t(147291)\t1455592\t637739\t2093331\nIssuance of Common Shares\t0\t0\t0\t0\t0\t0\t0\t0\nDividends/distributions declared ($0 per Common Share/OP Unit)\t0\t0\t0\t0\t\t0\t(123)\t(123)\nEmployee and trustee stock compensation net\t1\t0\t232\t0\t0\t232\t2181\t2413\nNoncontrolling interest distributions\t0\t0\t0\t0\t0\t0\t(20117)\t(20117)\nNoncontrolling interest contributions\t0\t0\t0\t0\t0\t0\t8427\t8427\nComprehensive (loss) income\t0\t0\t0\t4336\t(9030)\t(4694)\t(27137)\t(31831)\nReallocation of noncontrolling interests\t0\t0\t2100\t0\t0\t2100\t(2100)\t0\nBalance at September 30 2020\t86266\t86\t1695338\t(85873)\t(156321)\t1453230\t598870\t2052100\nBalance at July 1 2019\t84453\t84\t1625906\t(29570)\t(115224)\t1481196\t618910\t2100106\nConversion of OP Units to Common Shares by limited partners of the Operating Partnership\t42\t0\t720\t0\t0\t720\t(720)\t0\nIssuance of Common Shares\t2149\t3\t60634\t0\t0\t60637\t0\t60637\nDividends/distributions declared ($0.28 per Common Share/OP Unit)\t0\t0\t0\t0\t(24260)\t(24260)\t(1765)\t(26025)\nEmployee and trustee stock compensation net\t0\t0\t148\t0\t0\t148\t1768\t1916\nNoncontrolling interest distributions\t0\t0\t0\t0\t0\t0\t(29713)\t(29713)\nNoncontrolling interest contributions\t0\t0\t0\t0\t0\t0\t129438\t129438\nComprehensive (loss) income\t0\t0\t0\t(14568)\t10458\t(4110)\t(2726)\t(6836)\nReallocation of noncontrolling interests\t0\t0\t5251\t0\t0\t5251\t(5251)\t0\nBalance at September 30 2019\t86644\t87\t1692659\t(44138)\t(129026)\t1519582\t709941\t2229523\n", "q10k_tbl_7": "\tAcadia Shareholders\t\t\t\t\t\t\t\n(in thousands except per share amounts)\tCommon Shares\tShare Amount\tAdditional Paid-in Capital\tAccumulated Other Comprehensive Income (Loss)\tDistributions in Excess of Accumulated Earnings\tTotal Common Shareholders' Equity\tNoncontrolling Interests\tTotal Equity\nBalance at January 1 2020\t87050\t87\t1706357\t(31175)\t(132961)\t1542308\t644657\t2186965\nCumulative effect of change in accounting principle (Note 1)\t0\t0\t0\t0\t(389)\t(389)\t(11)\t(400)\nAcquisition of noncontrolling interest\t0\t0\t0\t0\t0\t0\t588\t588\nConversion of OP Units to Common Shares by limited partners of the Operating Partnership\t408\t0\t6544\t0\t0\t6544\t(6544)\t0\nRepurchase of Common Shares\t(1219)\t(1)\t(22385)\t0\t0\t(22386)\t0\t(22386)\nDividends/distributions declared ($0.29 per Common Share/OP Unit)\t0\t0\t0\t0\t(24937)\t(24937)\t(2095)\t(27032)\nEmployee and trustee stock compensation net\t27\t0\t578\t0\t0\t578\t7973\t8551\nNoncontrolling interest distributions\t0\t0\t0\t0\t0\t0\t(24654)\t(24654)\nNoncontrolling interest contributions\t0\t0\t0\t0\t0\t0\t36736\t36736\nComprehensive (loss) income\t0\t0\t0\t(54698)\t1966\t(52732)\t(53536)\t(106268)\nReallocation of noncontrolling interests\t0\t0\t4244\t0\t0\t4244\t(4244)\t0\nBalance at September 30 2020\t86266\t86\t1695338\t(85873)\t(156321)\t1453230\t598870\t2052100\nBalance at January 1 2019\t81557\t82\t1548603\t516\t(89696)\t1459505\t622442\t2081947\nConversion of OP Units to Common Shares by limited partners of the Operating Partnership\t250\t0\t4230\t0\t0\t4230\t(4230)\t0\nIssuance of Common Shares\t4816\t5\t135746\t0\t0\t135751\t0\t135751\nDividends/distributions declared ($0.84 per Common Share/OP Unit)\t0\t0\t0\t0\t(71065)\t(71065)\t(5322)\t(76387)\nEmployee and trustee stock compensation net\t21\t0\t396\t0\t0\t396\t6965\t7361\nNoncontrolling interest distributions\t0\t0\t0\t0\t0\t0\t(34595)\t(34595)\nNoncontrolling interest contributions\t0\t0\t0\t0\t0\t0\t161628\t161628\nComprehensive (loss) income\t0\t0\t0\t(44654)\t31735\t(12919)\t(33263)\t(46182)\nReallocation of noncontrolling interests\t0\t0\t3684\t0\t0\t3684\t(3684)\t0\nBalance at September 30 2019\t86644\t87\t1692659\t(44138)\t(129026)\t1519582\t709941\t2229523\n", "q10k_tbl_8": "\tNine Months Ended September 30\t\n(in thousands)\t2020\t2019\nCASH FLOWS FROM OPERATING ACTIVITIES\t\t\nNet (loss) income\t(33422)\t6539\nAdjustments to reconcile net (loss) income to net cash provided by operating activities:\t\t\nDepreciation and amortization\t101627\t92807\nNet unrealized holding gains on investments\t(57031)\t0\nDistributions of operating income from unconsolidated affiliates\t2829\t8654\nEquity in earnings and gains of unconsolidated affiliates\t155\t(7129)\nStock compensation expense\t8551\t7361\nAmortization of financing costs\t4040\t5769\nImpairment charges\t51549\t1721\nGain on disposition of properties\t(509)\t(14070)\nCredit loss and straight-line rent reserves\t39882\t0\nDeferred gain on tax credits\t0\t(5034)\nOther net\t(2923)\t(7804)\nChanges in assets and liabilities:\t\t\nOther liabilities\t(7736)\t(6071)\nPrepaid expenses and other assets\t(1435)\t10271\nRents receivable\t(31511)\t870\nAccounts payable and accrued expenses\t7015\t1303\nNet cash provided by operating activities\t81081\t95187\nCASH FLOWS FROM INVESTING ACTIVITIES\t\t\nAcquisition of real estate\t(21208)\t(256647)\nDevelopment construction and property improvement costs\t(27949)\t(77636)\n(Issuance) redemption of notes receivable\t(59000)\t15250\nProceeds from the disposition of properties net\t14182\t80120\nInvestments in and advances to unconsolidated affiliates and other\t(3662)\t(154256)\nReturn of capital from unconsolidated affiliates and other\t9054\t38359\nReturn (payment) of deposits for properties under contract\t187\t1060\nPayment of deferred leasing costs\t(5422)\t(5874)\nChange in control of previously unconsolidated affiliate\t950\t0\nNet cash used in investing activities\t(92868)\t(359624)\nCASH FLOWS FROM FINANCING ACTIVITIES\t\t\nPrincipal payments on mortgage and other notes\t(18981)\t(166865)\nPrincipal payments on unsecured debt\t(123750)\t(352195)\nProceeds received on mortgage and other notes\t5523\t183556\nProceeds from unsecured debt\t215554\t444575\nPayments of finance lease obligations\t(903)\t(2125)\n(Repurchase) proceeds from the sale of Common Shares\t(22386)\t135750\nCapital contributions from noncontrolling interests\t36736\t161628\nDistributions to noncontrolling interests\t(28418)\t(39917)\nDividends paid to Common Shareholders\t(50182)\t(69641)\nDeferred financing and other costs\t(1635)\t(4170)\nNet cash provided by financing activities\t11558\t290596\n(Decrease) increase in cash and restricted cash\t(229)\t26159\nCash of $15845 and $21268 and restricted cash of $14165 and $13580 respectively beginning of period\t30010\t34848\nCash of $16108 and $27765 and restricted cash of $13673 and $12527 respectively end of period\t29781\t61007\n", "q10k_tbl_9": "\tNine Months Ended September 30\t\n(in thousands)\t2020\t2019\nSupplemental disclosure of cash flow information\t\t\nCash paid during the period for interest net of capitalized interest of $6270 and $8430 respectively\t40470\t53586\nCash paid for income taxes net of refunds\t282\t730\nSupplemental disclosure of non-cash investing and financing activities\t\t\nAssumption of accounts payable and accrued expenses through acquisition of real estate\t116\t3697\nRight-of-use assets finance leases (terminated) obtained in exchange for finance lease liabilities\t(70427)\t16349\nRight-of-use assets finance leases obtained in exchange for assets under capital lease\t0\t76965\nRight-of-use assets operating leases obtained in exchange for operating lease liabilities\t33189\t57165\nCapital lease obligation exchanged for finance lease liability\t0\t71111\nOther liabilities exchanged for operating lease liabilities\t0\t946\nAssumption of debt through investments in unconsolidated affiliates\t0\t4688\nDebt exchanged for deferred gain on tax credits\t0\t(5262)\nOther assets exchanged for deferred gain on tax credits\t0\t228\nRight of use assets operating leases obtained (terminated) in exchange for finance lease liabilities\t(1432)\t0\nChange in control of previously unconsolidated (consolidated) investment\t\t\nIncrease in real estate\t(135190)\t0\nDecrease in investments in and advances to unconsolidated affiliates\t96816\t0\nChange in other assets and liabilities\t1238\t0\nAcquisition of noncontrolling interest asset\t(588)\t\nDecrease in notes receivable\t38674\t0\nIncrease in cash and restricted cash upon change of control\t950\t0\n", "q10k_tbl_10": "Entity\tFormation Date\tOperating Partnership Share of Capital\tCapital Called as of September 30 2020 (b)\tUnfunded Commitment (b c)\tEquity Interest Held By Operating Partnership (a)\tPreferred Return\tTotal Distributions as of September 30 2020 (b c)\nFund II and Mervyns II (c)\t6/2004\t28.33%\t369.6\t15.7\t28.33%\t8%\t169.8\nFund III\t5/2007\t24.54%\t440.3\t9.7\t24.54%\t6%\t568.8\nFund IV\t5/2012\t23.12%\t457.1\t72.9\t23.12%\t6%\t193.1\nFund V\t8/2016\t20.10%\t217.1\t302.9\t20.10%\t6%\t20.9\n", "q10k_tbl_11": "\tSeptember 30 2020\tDecember 31 2019\nLand\t771508\t756297\nBuildings and improvements\t2822818\t2740479\nTenant improvements\t183361\t173686\nConstruction in progress\t7605\t13617\nRight-of-use assets - finance leases (Note 11)\t25086\t102055\nRight-of-use assets - operating leases (Note 11) net\t89615\t60006\nTotal\t3899993\t3846140\nLess: Accumulated depreciation and amortization\t(552562)\t(490227)\nOperating real estate net\t3347431\t3355913\nReal estate under development\t268298\t253402\nNet investments in real estate\t3615729\t3609315\n", "q10k_tbl_12": "Property and Location\tPercent Acquired\tDate of Acquisition\tPurchase Price\n2020 Acquisitions and Conversions\t\t\t\nCore\t\t\t\nSoho Acquisitions - 37 Greene Street - New York NY\t100%\tJan 9 2020\t15689\n917 W. Armitage - Chicago IL\t100%\tFeb 13 2020\t3515\nTown Center - Wilmington DE (Conversion) (Note 4)\t100%\tApr 1 2020\t138939\nSubtotal Core\t\t\t158143\nFund IV\t\t\t\n230-240 W. Broughton Street - Savannah GA\t100%\tMay 26 2020\t13219\n102 E. Broughton Street - Savannah GA\t100%\tMay 26 2020\t790\nSubtotal Fund IV\t\t\t14009\nTotal 2020 Acquisitions and Conversions\t\t\t172152\n2019 Acquisitions\t\t\t\nCore\t\t\t\nSoho Acquisitions - 41 45 47 51 and 53 Greene Street - New York NY\t100%\tMar 15 2019 Mar 27 2019 May 29 2019 Jul 30 2019 Nov 8 2019\t87006\n849 907 and 912 W. Armitage - Chicago IL\t100%\tSep 11 2019 Dec 11 2019\t10738\n8436-8452 Melrose Place - Los Angeles CA\t100%\tOct 25 2019\t48691\nSubtotal Core\t\t\t146435\nFund V\t\t\t\nPalm Coast Landing - Palm Coast FL\t100%\tMay 6 2019\t36644\nLincoln Commons - Lincoln RI\t100%\tJun 21 2019\t54299\nLandstown Commons - Virginia Beach VA\t100%\tAug 2 2019\t86961\nSubtotal Fund V\t\t\t177904\nTotal 2019 Acquisitions\t\t\t324339\n", "q10k_tbl_13": "\tNine Months Ended September 30 2020\tYear Ended December 31 2019\nNet Assets Acquired\t\t\nLand\t25440\t78263\nBuildings and improvements\t123459\t221185\nNet working capital\t4761\t0\nAcquisition-related intangible assets (Note 6)\t23061\t34972\nRight-of-use asset - Operating lease (Note 11)\t234\t0\nAcquisition-related intangible liabilities (Note 6)\t(4569)\t(10081)\nLease liability - Operating lease (Note 11)\t(234)\t0\nNet assets acquired\t172152\t324339\nConsideration\t\t\nCash\t21208\t319673\nConversion of note receivable\t38674\t0\nConversion of accrued interest\t1995\t0\nLiabilities assumed\t116\t4666\nExisting interest in previously unconsolidated investment\t109571\t0\nAcquisition of noncontrolling interests\t588\t0\nTotal consideration\t172152\t324339\n", "q10k_tbl_14": "Property and Location\tOwner\tDate Sold\tSale Price\tGain (Loss) on Sale\n2020 Dispositions\t\t\t\t\nColonie Plaza - Albany NY\tFund IV\tApr 13 2020\t15250\t485\nAirport Mall (Parcel) - Bangor ME\tFund IV\tSep 10 2020\t400\t24\nTotal 2020 Dispositions\t\t\t15650\t509\n2019 Dispositions\t\t\t\t\n3104 M Street - Washington DC (Note 4)\tFund III\tJan 24 2019\t10500\t2014\n210 Bowery - 3 Residential Condos - New York NY\tFund IV\tMay 17 2019 Sep 23 2019 Nov 7 2019\t8826\t(242)\nJFK Plaza - Waterville ME\tFund IV\tJul 24 2019\t7800\t2075\n3780-3858 Nostrand Avenue - New York NY\tFund III\tAug 22 2019\t27650\t2562\n938 W North Avenue - Chicago IL\tFund IV\tSep 27 2019\t32000\t7144\nPacesetter Park - Pomona NY\tCore\tOct 28 2019\t22550\t16771\nTotal 2019 Dispositions\t\t\t109326\t30324\n", "q10k_tbl_15": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nRevenues\t0\t2099\t721\t8972\nExpenses\t(44)\t(2237)\t(982)\t(7738)\nGain on disposition of properties\t24\t12056\t509\t14070\nNet income attributable to noncontrolling interests\t16\t(8943)\t(169)\t(11184)\nNet income attributable to Acadia\t(4)\t2975\t79\t4120\n", "q10k_tbl_16": "\tJanuary 1 2020\t\tNine Months Ended September 30 2020\t\t\tSeptember 30 2020\t\n\tNumber of Properties\tCarrying Value\tTransfers In\tCapitalized Costs\tTransfers Out\tNumber of Properties\tCarrying Value\nCore\t0\t60863\t0\t3083\t0\t0\t63946\nFund II\t0\t10703\t33057\t2631\t6470\t0\t39921\nFund III\t1\t36240\t0\t1071\t14045\t1\t23266\nFund IV (a)\t2\t145596\t0\t4091\t8522\t2\t141165\nTotal\t3\t253402\t33057\t10876\t29037\t3\t268298\n", "q10k_tbl_17": "\tJanuary 1 2019\t\tYear Ended December 31 2019\t\t\tDecember 31 2019\t\n\tNumber of Properties\tCarrying Value\tTransfers In\tCapitalized Costs\tTransfers Out\tNumber of Properties\tCarrying Value\nCore\t1\t7759\t57342\t5581\t9819\t0\t60863\nFund II\t0\t7462\t0\t3241\t0\t0\t10703\nFund III\t1\t21242\t12313\t2685\t0\t1\t36240\nFund IV\t1\t83834\t47689\t14073\t0\t2\t145596\nTotal\t3\t120297\t117344\t25580\t9819\t3\t253402\n", "q10k_tbl_18": "\tSeptember 30\tDecember 31\tSeptember 30 2020\t\t\nDescription\t2020\t2019\tNumber\tMaturity Date\tInterest Rate\nCore Portfolio (a b)\t96794\t76467\t6\tApr 2020 - Dec 2027\t4.7% - 9%\nFund II\t33608\t33170\t1\tDec 2020\t1.75%\nFund III\t5306\t5306\t1\tJul 2020\t18.0%\nTotal notes receivable\t135708\t114943\t\t\t\nCredit loss reserves\t(910)\t0\t\t\t\nNotes receivable net\t134798\t114943\t8\t\t\n", "q10k_tbl_19": "\t\tOwnership Interest\tSeptember 30\tDecember 31\nPortfolio\tProperty\tSeptember 30 2020\t2020\t2019\nCore:\t\t\t\t\n\t840 N. Michigan (a)\t88.43%\t56725\t61260\n\tRenaissance Portfolio\t20%\t29729\t31815\n\tGotham Plaza\t49%\t28975\t29466\n\tTown Center (a b)\t100%\t0\t97674\n\tGeorgetown Portfolio\t50%\t4529\t4498\n\t1238 Wisconsin Avenue\t80%\t2320\t1194\n\t\t\t122278\t225907\nMervyns I & II:\tKLA/ABS (c)\t36.7%\t57031\t402\nFund III:\t\t\t\t\n\tFund III Other Portfolio\t94.23%\t17\t17\n\tSelf Storage Management (d)\t95%\t207\t207\n\t\t\t224\t224\nFund IV:\t\t\t\t\n\tBroughton Street Portfolio (e)\t100%\t0\t12702\n\tFund IV Other Portfolio\t98.57%\t13300\t14733\n\t650 Bald Hill Road\t90%\t13672\t12450\n\t\t\t26972\t39885\nFund V:\tFamily Center at Riverdale (a)\t89.42%\t12124\t13329\n\tTri-City Plaza\t90%\t7395\t10250\n\tFrederick County Acquisitions\t90%\t12117\t15070\n\t\t\t31636\t38649\nVarious:\tDue from (to) Related Parties\t\t243\t(1902)\n\tOther (f)\t\t2030\t1932\n\tInvestments in and advances to unconsolidated affiliates\t\t240414\t305097\nCore:\t\t\t\t\n\tCrossroads (g)\t49%\t15462\t15362\n\tDistributions in excess of income from and investments in unconsolidated affiliates\t\t15462\t15362\n", "q10k_tbl_20": "\tSeptember 30 2020\tDecember 31 2019\nCombined and Condensed Balance Sheets\t\t\nAssets:\t\t\nRental property net\t568583\t656265\nReal estate under development\t12149\t1341\nOther assets\t66465\t85540\nTotal assets\t647197\t743146\nLiabilities and partners' equity:\t\t\nMortgage notes payable\t509904\t502036\nOther liabilities\t77844\t77785\nPartners' equity\t59449\t163325\nTotal liabilities and partners' equity\t647197\t743146\nCompany's share of accumulated equity\t106386\t186864\nBasis differential\t55570\t100962\nDeferred fees net of portion related to the Company's interest\t3485\t1270\nAmounts receivable/payable by the Company\t243\t(1902)\nInvestments in and advances to unconsolidated affiliates net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates\t165684\t287194\nCost method investments\t59268\t2541\nCompany's share of distributions in excess of income from and investments in unconsolidated affiliates\t15462\t15362\nInvestments in and advances to unconsolidated affiliates\t240414\t305097\n", "q10k_tbl_21": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nCombined and Condensed Statements of Income\t\t\t\t\nTotal revenues\t21348\t22310\t64517\t65023\nOperating and other expenses\t(10291)\t(6746)\t(27162)\t(17088)\nInterest expense\t(4865)\t(5888)\t(15368)\t(16303)\nDepreciation and amortization\t(7947)\t(7321)\t(21653)\t(17908)\nNet (loss) income attributable to unconsolidated affiliates\t(1755)\t2355\t334\t13724\nCompany's share of equity in net (loss) income of unconsolidated affiliates\t10\t2006\t1496\t9283\nBasis differential amortization\t(634)\t(707)\t(1651)\t(2154)\nCompany's equity in (losses) earnings of unconsolidated affiliates\t(624)\t1299\t(155)\t7129\n", "q10k_tbl_22": "(in thousands)\tSeptember 30 2020\tDecember 31 2019\nOther Assets Net:\t\t\nLease intangibles net (Note 6)\t109488\t116820\nDeferred charges net (a)\t30032\t28746\nPrepaid expenses\t16527\t18873\nAccrued interest receivable\t12471\t9872\nOther receivables\t4755\t3996\nDue from seller\t3682\t3682\nIncome taxes receivable\t2301\t1755\nDeposits\t1712\t1853\nCorporate assets net\t1288\t1565\nDeferred tax assets\t914\t913\nDerivative financial instruments (Note 8)\t0\t2583\n\t183170\t190658\n(a) Deferred Charges Net:\t\t\nDeferred leasing and other costs\t54795\t49081\nDeferred financing costs related to line of credit\t10731\t10051\n\t65526\t59132\nAccumulated amortization\t(35494)\t(30386)\nDeferred charges net\t30032\t28746\nAccounts Payable and Other Liabilities:\t\t\nDerivative financial instruments (Note 8)\t103204\t39061\nLease liability - operating leases net (Note 11)\t89437\t56762\nLease intangibles net (Note 6)\t79343\t82926\nAccounts payable and accrued expenses\t71393\t68838\nDeferred income\t32325\t33682\nTenant security deposits escrow and other\t12215\t12590\nLease liability - finance leases net (Note 11)\t6194\t77657\n\t394111\t371516\n", "q10k_tbl_23": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tGross Carrying Amount\tAccumulated Amortization\tNet Carrying Amount\tGross Carrying Amount\tAccumulated Amortization\tNet Carrying Amount\nAmortizable Intangible Assets\t\t\t\t\t\t\nIn-place lease intangible assets\t268335\t(163479)\t104856\t249961\t(137108)\t112853\nAbove-market rent\t19188\t(14556)\t4632\t17227\t(13260)\t3967\n\t287523\t(178035)\t109488\t267188\t(150368)\t116820\nAmortizable Intangible Liabilities\t\t\t\t\t\t\nBelow-market rent\t(164923)\t86057\t(78866)\t(160721)\t78315\t(82406)\nAbove-market ground lease\t(671)\t194\t(477)\t(671)\t151\t(520)\n\t(165594)\t86251\t(79343)\t(161392)\t78466\t(82926)\n", "q10k_tbl_24": "Years Ending December 31\tNet Increase in Lease Revenues\tIncrease to Amortization\tReduction of Rent Expense\tNet (Expense) Income\n2020 (Remainder)\t1790\t(7490)\t15\t(5685)\n2021\t7043\t(24992)\t58\t(17891)\n2022\t6372\t(18314)\t58\t(11884)\n2023\t5894\t(13560)\t58\t(7608)\n2024\t5539\t(9525)\t58\t(3928)\nThereafter\t47596\t(30975)\t230\t16851\nTotal\t74234\t(104856)\t477\t(30145)\n", "q10k_tbl_25": "\tInterest Rate at\t\t\tCarrying Value at\t\n\tSeptember 30\tDecember 31\tMaturity Date at\tSeptember 30\tDecember 31\n\t2020\t2019\tSeptember 30 2020\t2020\t2019\nMortgages Payable\t\t\t\t\t\nCore Fixed Rate\t3.88%-6.00%\t3.88%-6.00%\tFeb 2024 - Apr 2035\t174628\t176176\nCore Variable Rate - Swapped (a)\t3.41%-4.54%\t3.41%-4.54%\tJan 2023 - Nov 2028\t80770\t81559\nTotal Core Mortgages Payable\t\t\t\t255398\t257735\nFund II Fixed Rate (b)\t4.75%\t4.75%\tMay 2022\t200000\t200000\nFund II Variable Rate\tLIBOR+3.00%\tLIBOR+3.00%\tMarch 2022\t26670\t24225\nFund II Variable Rate - Swapped (a)\t2.88%\t2.88%\tNov 2021\t18872\t19073\nTotal Fund II Mortgages Payable\t\t\t\t245542\t243298\nFund III Variable Rate\tLIBOR+2.75%-LIBOR+3.10%\tLIBOR+2.75%-LIBOR+3.10%\tJan 2021 - Jun 2021\t75722\t74554\nFund IV Fixed Rate\t3.40%-4.50%\t3.40%-4.50%\tOct 2025 - Jun 2026\t8189\t8189\nFund IV Variable Rate\tLIBOR+1.60%-LIBOR+3.40%\tLIBOR+1.60%-LIBOR+3.40%\tDec 2020 - Aug 2021\t178380\t157015\nFund IV Variable Rate - Swapped (a)\t3.48%-4.61%\t3.48%-4.61%\tMar 2021 - Dec 2022\t66921\t102699\nTotal Fund IV Mortgages Payable\t\t\t\t253490\t267903\nFund V Variable Rate\tLIBOR+1.50%-LIBOR+2.20%\tLIBOR+1.50%-LIBOR+2.20%\tFeb 2021 - Dec 2024\t1478\t1387\nFund V Variable Rate - Swapped (a)\t2.95%-4.78%\t2.95%-4.78%\tFeb 2021 - Dec 2024\t334416\t334626\nTotal Fund V Mortgage Payable\t\t\t\t335894\t336013\nNet unamortized debt issuance costs\t\t\t\t(6932)\t(10078)\nUnamortized premium\t\t\t\t574\t651\nTotal Mortgages Payable\t\t\t\t1159688\t1170076\nUnsecured Notes Payable\t\t\t\t\t\nCore Variable Rate Unsecured Term Loans\tLIBOR+2.55%\t0\tJun 2021\t30000\t0\nCore Variable Rate Unsecured Term Loans - Swapped (a)\t2.49%-5.02%\t2.49%-5.02%\tMar 2023\t350000\t350000\nTotal Core Unsecured Notes Payable\t\t\t\t380000\t350000\nFund II Unsecured Notes Payable\tLIBOR+1.65%\tLIBOR+1.65%\tSep 2021\t40000\t40000\nFund IV Term Loan/Subscription Facility\tLIBOR+1.65%-LIBOR+2.00%\tLIBOR+1.65%-LIBOR+2.00%\tDec 2020 - June 2021\t82829\t87625\nFund V Subscription Facility\tLIBOR+1.60%\t0\tMay 2021\t0\t0\nNet unamortized debt issuance costs\t\t\t\t(329)\t(305)\nTotal Unsecured Notes Payable\t\t\t\t502500\t477320\nUnsecured Line of Credit\t\t\t\t\t\nCore Unsecured Line of Credit -Swapped (a)\t2.49%-5.02%\t2.49%-5.02%\tMar 2022\t127400\t60800\nTotal Debt - Fixed Rate (b c)\t\t\t\t1361199\t1403324\nTotal Debt - Variable Rate (d)\t\t\t\t435076\t314604\nTotal Debt\t\t\t\t1796275\t1717928\nNet unamortized debt issuance costs\t\t\t\t(7261)\t(10383)\nUnamortized premium\t\t\t\t574\t651\nTotal Indebtedness\t\t\t\t1789588\t1708196\n", "q10k_tbl_26": "Year Ending December 31\t\n2020 (Remainder)\t88360\n2021\t455086\n2022\t427401\n2023\t415507\n2024\t212015\nThereafter\t197906\n\t1796275\nUnamortized premium\t574\nNet unamortized debt issuance costs\t(7261)\nTotal indebtedness\t1789588\n", "q10k_tbl_27": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tLevel 1\tLevel 2\tLevel 3\tLevel 1\tLevel 2\tLevel 3\nAssets\t\t\t\t\t\t\nMoney market funds\t0\t0\t0\t0\t0\t0\nDerivative financial instruments\t0\t0\t0\t0\t2583\t0\nInvestment in Albertsons (Note 4)\t57031\t0\t0\t0\t0\t0\nLiabilities\t\t\t\t\t\t\nDerivative financial instruments\t0\t103204\t0\t0\t39061\t0\n", "q10k_tbl_28": "\t\t\t\t\tImpairment Charge\t\nProperty and Location\tOwner\tTriggering Event\tLevel 3 Inputs\tEffective Date\tTotal\tAcadia's Share\n2020 Impairment Charges\t\t\t\t\t\t\nCortlandt Crossing Mohegan Lake NY\tFund III\tReduced holding period reduced projected operating income\tProjections of: holding period net operating income cap rate incremental costs\t3/31/2020\t27402\t6726\n654 Broadway New York NY\tFund III\tReduced holding period\tProjections of: holding period net operating income cap rate incremental costs\t3/31/2020\t6398\t1570\n146 Geary Street San Francisco CA\tFund IV\tReduced holding period reduced projected operating income\tProjections of: holding period net operating income cap rate incremental costs\t3/31/2020\t6718\t1553\n801 Madison Avenue New York NY\tFund IV\tReduced holding period reduced projected operating income\tProjections of: holding period net operating income cap rate incremental costs\t3/31/2020\t11031\t2551\nTotal 2020 Impairment Charges\t\t\t\t\t51549\t12400\n2019 Impairment Charges\t\t\t\t\t\t\n210 Bowery residential units\tFund IV\tReduced selling price\tContract sales price\t9/30/2019\t321\t74\n210 Bowery residential units\tFund IV\tReduced selling price\tOffering price\t6/30/2019\t1400\t321\nTotal 2019 Impairment Charges\t\t\t\t\t1721\t395\n", "q10k_tbl_29": "\t\t\t\tStrike Rate\t\t\t\tFair Value\t\nDerivative Instrument\tAggregate Notional Amount\tEffective Date\tMaturity Date\tLow\t\tHigh\tBalance Sheet Location\tSeptember 30 2020\tDecember 31 2019\nCore\t\t\t\t\t\t\t\t\t\nInterest Rate Swaps\t572476\tDec 2012-Apr 2023\tJan 2021-Apr 2033\t1.24%\t0\t3.77%\tOther Liabilities (a)\t(85942)\t(33750)\nInterest Rate Swaps\t0\t0\t0\t0\t0\t0\tOther Assets\t0\t456\n\t572476\t\t\t\t\t\t\t(85942)\t(33294)\nFund II\t\t\t\t\t\t\t\t\t\nInterest Rate Swap\t18872\tOct 2014\tNov 2021\t2.88%\t0\t2.88%\tOther Liabilities\t(282)\t(139)\nInterest Rate Cap\t45000\tMar 2019\tMar 2022\t3.50%\t0\t3.50%\tOther Assets\t0\t1\n\t63872\t\t\t\t\t\t\t(282)\t(138)\nFund III\t\t\t\t\t\t\t\t\t\nInterest Rate Cap\t39470\tJan 2020\tJan 2021\t3.00%\t0\t3.00%\tOther Assets\t0\t0\nFund IV\t\t\t\t\t\t\t\t\t\nInterest Rate Swaps\t0\t0\t0\t0\t0\t0\tOther Assets\t0\t22\nInterest Rate Swaps\t66921\tMar 2017 - Dec 2019\tApr 2022 - Dec 2022\t1.48%\t0\t4.00%\tOther Liabilities\t(2019)\t(812)\nInterest Rate Caps\t90600\tJuly 2019 - Dec 2019\tDec 2020 - July 2021\t3.00%\t0\t3.50%\tOther Assets\t0\t0\n\t157521\t\t\t\t\t\t\t(2019)\t(790)\nFund V\t\t\t\t\t\t\t\t\t\nInterest Rate Swaps\t0\t0\t0\t0\t0\t0\tOther Assets\t0\t2104\nInterest Rate Swaps\t334416\tJan 2018-Nov 2019\tFeb 2021-Oct 2024\t1.25%\t0\t2.88%\tOther Liabilities\t(14961)\t(4360)\n\t334416\t\t\t\t\t\t\t(14961)\t(2256)\nTotal asset derivatives\t\t\t\t\t\t\t\t0\t2583\nTotal liability derivatives\t\t\t\t\t\t\t\t(103204)\t(39061)\n", "q10k_tbl_30": "\t\tSeptember 30 2020\t\tDecember 31 2019\t\n\tLevel\tCarrying Amount\tEstimated Fair Value\tCarrying Amount\tEstimated Fair Value\nNotes Receivable (a)\t3\t135708\t135581\t114943\t113422\nMortgage and Other Notes Payable (a)\t3\t1166046\t1153378\t1179503\t1191281\nInvestment in non-traded equity securities (b)\t3\t1875\t1631\t1778\t57964\nUnsecured notes payable and Unsecured line of credit (c)\t2\t630229\t614713\t538425\t539362\n", "q10k_tbl_31": "Date Declared\tAmount Per Share\tRecord Date\tPayment Date\nNovember 13 2018\t0.28\tDecember 31 2018\tJanuary 15 2019\nFebruary 28 2019\t0.28\tMarch 29 2019\tApril 15 2019\nMay 9 2019\t0.28\tJune 28 2019\tJuly 15 2019\nAugust 13 2019\t0.28\tSeptember 30 2019\tOctober 15 2019\nNovember 5 2019\t0.29\tDecember 31 2019\tJanuary 15 2020\nFebruary 26 2020\t0.29\tMarch 31 2020\tApril 15 2020\n", "q10k_tbl_32": "\tGains or Losses on Derivative Instruments\nBalance at July 1 2020\t(90209)\nOther comprehensive income before reclassifications - swap agreements\t952\nReclassification of realized interest on swap agreements\t5506\nNet current period other comprehensive income\t6458\nNet current period other comprehensive income attributable to noncontrolling interests\t(2122)\nBalance at September 30 2020\t(85873)\nBalance at July 1 2019\t(29570)\nOther comprehensive loss before reclassifications - swap agreements\t(15388)\nReclassification of realized interest on swap agreements\t(288)\nNet current period other comprehensive loss\t(15676)\nNet current period other comprehensive loss attributable to noncontrolling interests\t1108\nBalance at September 30 2019\t(44138)\n", "q10k_tbl_33": "\tGains or Losses on Derivative Instruments\nBalance at January 1 2020\t(31175)\nOther comprehensive loss before reclassifications - swap agreements\t(82444)\nReclassification of realized interest on swap agreements\t9598\nNet current period other comprehensive loss\t(72846)\nNet current period other comprehensive loss attributable to noncontrolling interests\t18148\nBalance at September 30 2020\t(85873)\nBalance at January 1 2019\t516\nOther comprehensive loss before reclassifications - swap agreements\t(51347)\nReclassification of realized interest on swap agreements\t(1374)\nNet current period other comprehensive loss\t(52721)\nNet current period other comprehensive loss attributable to noncontrolling interests\t8067\nBalance at September 30 2019\t(44138)\n", "q10k_tbl_34": "\tNoncontrolling Interests in Operating Partnership (a)\tNoncontrolling Interests in Partially-Owned Affiliates (b)\tTotal\nBalance at July 1 2020\t90321\t547418\t637739\nDistributions on Preferred OP Units\t(123)\t0\t(123)\nNet loss for the three months ended September 30 2020\t(352)\t(28907)\t(29259)\nOther comprehensive loss - unrealized earnings (loss) on valuation of swap agreements\t183\t(166)\t17\nReclassification of realized interest expense on swap agreements\t63\t2042\t2105\nNoncontrolling interest contributions\t0\t8427\t8427\nNoncontrolling interest distributions\t0\t(20117)\t(20117)\nEmployee Long-term Incentive Plan Unit Awards\t2181\t0\t2181\nReallocation of noncontrolling interests (c)\t(2100)\t0\t(2100)\nBalance at September 30 2020\t90173\t508697\t598870\nBalance at July 1 2019\t103705\t515205\t618910\nDistributions declared of $0.28 per Common OP Unit\t(1765)\t0\t(1765)\nNet income (loss) for the three months ended September 30 2019\t785\t(2403)\t(1618)\nConversion of 41646 Common OP Units to Common Shares by limited partners of the Operating Partnership\t(720)\t0\t(720)\nOther comprehensive income - unrealized loss on valuation of swap agreements\t(864)\t(251)\t(1115)\nReclassification of realized interest expense on swap agreements\t(16)\t23\t7\nNoncontrolling interest contributions\t0\t129438\t129438\nNoncontrolling interest distributions\t0\t(29713)\t(29713)\nEmployee Long-term Incentive Plan Unit Awards\t1768\t0\t1768\nReallocation of noncontrolling interests (c)\t(5251)\t0\t(5251)\nBalance at September 30 2019\t97642\t612299\t709941\n", "q10k_tbl_35": "\tNoncontrolling Interests in Operating Partnership (a)\tNoncontrolling Interests in Partially-Owned Affiliates (b)\tTotal\nBalance at January 1 2020\t97670\t546987\t644657\nDistributions declared of $0.29 per Common OP Unit\t(2095)\t0\t(2095)\nNet income (loss) for the nine months ended September 30 2020\t570\t(35958)\t(35388)\nConversion of 407594 Common OP Units to Common Shares by limited partners of the Operating Partnership\t(6544)\t0\t(6544)\nOther comprehensive loss - unrealized loss on valuation of swap agreements\t(3268)\t(18423)\t(21691)\nCumulative effect of change in accounting principle (Note 1)\t0\t(11)\t(11)\nAcquisition of noncontrolling interest\t0\t588\t588\nReclassification of realized interest expense on swap agreements\t111\t3432\t3543\nNoncontrolling interest contributions\t0\t36736\t36736\nNoncontrolling interest distributions\t0\t(24654)\t(24654)\nEmployee Long-term Incentive Plan Unit Awards\t7973\t0\t7973\nReallocation of noncontrolling interests (c)\t(4244)\t0\t(4244)\nBalance at September 30 2020\t90173\t508697\t598870\nBalance at January 1 2019\t104223\t518219\t622442\nDistributions declared of $0.84 per Common OP Unit\t(5322)\t0\t(5322)\nNet income (loss) for the nine months ended September 30 2019\t2437\t(27633)\t(25196)\nConversion of 249464 Common OP Units to Common Shares by limited partners of the Operating Partnership\t(4230)\t0\t(4230)\nOther comprehensive income - unrealized loss on valuation of swap agreements\t(2686)\t(5320)\t(8006)\nReclassification of realized interest expense on swap agreements\t(61)\t0\t(61)\nNoncontrolling interest contributions\t0\t161628\t161628\nNoncontrolling interest distributions\t0\t(34595)\t(34595)\nEmployee Long-term Incentive Plan Unit Awards\t6965\t0\t6965\nReallocation of noncontrolling interests (c)\t(3684)\t0\t(3684)\nBalance at September 30 2019\t97642\t612299\t709941\n", "q10k_tbl_36": "\tNine Months Ended September 30 2020\tYear Ended December 31 2019\nAmounts recorded upon acquisition of leasehold interests:\t\t\nRight of use asset - operating lease\t0\t50147\nRight of use asset - finance lease\t0\t19422\nOther Assets\t0\t0\nLeasehold improvements\t0\t13354\nLease intangibles (Note 6)\t0\t1760\nLease liability - operating lease\t0\t(45293)\nAcquisition-related intangible liabilities (Note 6)\t0\t(359)\nCash paid upon acquisition of leasehold interests\t0\t39031\n", "q10k_tbl_37": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nLease Cost\t\t\t\t\nFinance lease cost:\t\t\t\t\nAmortization of right-of-use assets\t226\t565\t1370\t1603\nInterest on lease liabilities\t92\t978\t1541\t2755\nSubtotal\t318\t1543\t2911\t4358\nOperating lease cost\t2258\t1394\t5377\t3037\nVariable lease cost\t5\t62\t27\t119\nTotal lease cost\t2581\t2999\t8315\t7514\nOther Information\t\t\t\t\nWeighted-average remaining lease term - finance leases (years)\t\t\t33.5\t42.9\nWeighted-average remaining lease term - operating leases (years)\t\t\t26.5\t33.7\nWeighted-average discount rate - finance leases\t\t\t6.2%\t4.5%\nWeighted-average discount rate - operating leases\t\t\t5.4%\t5.8%\n", "q10k_tbl_38": "Year Ending December 31\tMinimum Rental Revenues (a)\tMinimum Rental Payments (b)\n2020 (Remainder)\t48803\t1877\n2021\t208058\t8665\n2022\t190266\t7874\n2023\t166701\t7869\n2024\t142019\t8029\nThereafter\t563493\t170745\nTotal\t1319340\t205059\n", "q10k_tbl_39": "\tPercentage of Tenants Open for Business as of\t\n\tJune 30 2020\tSeptember 30 2020\nCore\t74%\t86%\nFund\t74%\t88%\n", "q10k_tbl_40": "Collections as of:\t\t\t\nJune 30 2020 for\t\tSeptember 30 2020 for\t\nSecond Quarter 2020\t\tSecond Quarter 2020\tThird Quarter 2020\nCore\t71%\t74%\t85%\nFund\t62%\t65%\t77%\n", "q10k_tbl_41": "\tThree Months Ended September 30 2020\t\t\t\tNine Months Ended September 30 2020\t\t\t\n\tConsolidated\tNon-Controlling Interests\tUnconsolidated\tAttributable to Acadia\tConsolidated\tNon-Controlling Interests\tUnconsolidated\tAttributable to Acadia\nCredit Loss - Billed Rents\t\t\t\t\t\t\t\t\nCore\t5158\t35\t661\t5854\t10980\t(20)\t1335\t12295\nFunds\t5678\t(4544)\t297\t1431\t9190\t(7620)\t685\t2255\nTotal\t10836\t(4509)\t958\t7285\t20170\t(7640)\t2020\t14550\nStraight - Line Rent Reserves\t\t\t\t\t\t\t\t\nCore\t2113\t(52)\t48\t2109\t6969\t(86)\t498\t7381\nFunds\t11072\t(8789)\t769\t3052\t12743\t(10183)\t889\t3449\nTotal\t13185\t(8841)\t817\t5161\t19712\t(10269)\t1387\t10830\nRent Abatements\t\t\t\t\t\t\t\t\nCore\t687\t0\t75\t762\t803\t0\t684\t1487\nFunds\t244\t(240)\t56\t60\t244\t(240)\t56\t60\nTotal\t931\t(240)\t131\t822\t1047\t(240)\t740\t1547\nImpairment charges\t\t\t\t\t\t\t\t\nCore\t0\t0\t0\t0\t0\t0\t0\t0\nFunds\t0\t0\t0\t0\t51549\t(39149)\t0\t12400\nTotal\t0\t0\t0\t0\t51549\t(39149)\t0\t12400\nCOVID Earnings Impact\t\t\t\t\t\t\t\t\nCore\t7958\t(17)\t784\t8725\t18752\t(106)\t2517\t21163\nFunds\t16994\t(13573)\t1122\t4543\t73726\t(57192)\t1630\t18164\nTotal\t24952\t(13590)\t1906\t13268\t92478\t(57298)\t4147\t39327\n", "q10k_tbl_42": "\tFor the Three Months Ended September 30 2020\t\t\t\t\n\tCore Portfolio\tFunds\tStructured Financing\tUnallocated\tTotal\nRevenues\t38848\t12433\t0\t0\t51281\nDepreciation and amortization\t(17987)\t(16470)\t0\t0\t(34457)\nProperty operating expenses other operating and real estate taxes\t(12709)\t(9539)\t0\t0\t(22248)\nGeneral and administrative expenses\t0\t0\t0\t(8625)\t(8625)\nGain on disposition of properties\t0\t24\t0\t0\t24\nOperating income (loss)\t8152\t(13552)\t0\t(8625)\t(14025)\nInterest income\t0\t0\t2132\t0\t2132\nRealized and unrealized holding losses on investments and other\t0\t(7906)\t(40)\t0\t(7946)\nEquity in (losses) earnings of unconsolidated affiliates\t(784)\t160\t0\t0\t(624)\nInterest expense\t(8276)\t(9476)\t0\t0\t(17752)\nIncome tax provision\t0\t0\t0\t(74)\t(74)\nNet (loss) income\t(908)\t(30774)\t2092\t(8699)\t(38289)\nNet loss attributable to noncontrolling interests\t1407\t27852\t0\t0\t29259\nNet (loss) income attributable to Acadia\t499\t(2922)\t2092\t(8699)\t(9030)\n", "q10k_tbl_43": "\tFor the Three Months Ended September 30 2019\t\t\t\t\n\tCore Portfolio\tFunds\tStructured Financing\tUnallocated\tTotal\nRevenues\t42142\t31185\t0\t0\t73327\nDepreciation and amortization\t(15179)\t(16991)\t0\t0\t(32170)\nProperty operating expenses other operating and real estate taxes\t(11205)\t(12200)\t0\t0\t(23405)\nGeneral and administrative expenses\t0\t0\t0\t(8222)\t(8222)\nImpairment charges\t0\t(321)\t0\t0\t(321)\nGain on disposition of properties\t0\t12056\t0\t0\t12056\nOperating income\t15758\t13729\t0\t(8222)\t21265\nInterest and other income\t0\t5034\t1748\t0\t6782\nEquity in earnings (losses) of unconsolidated affiliates\t1798\t(499)\t0\t0\t1299\nInterest expense\t(7333)\t(11770)\t0\t0\t(19103)\nIncome tax provision\t0\t0\t0\t(1403)\t(1403)\nNet income\t10223\t6494\t1748\t(9625)\t8840\nNet loss attributable to noncontrolling interests\t263\t1355\t0\t0\t1618\nNet income attributable to Acadia\t10486\t7849\t1748\t(9625)\t10458\n", "q10k_tbl_44": "\tAs of or for the Nine Months Ended September 30 2020\t\t\t\t\n\tCore Portfolio\tFunds\tStructured Financing\tUnallocated\tTotal\nRevenues\t117383\t69091\t0\t0\t186474\nDepreciation and amortization\t(53193)\t(48434)\t0\t0\t(101627)\nProperty operating expenses other operating and real estate taxes\t(42484)\t(31034)\t0\t0\t(73518)\nGeneral and administrative expenses\t0\t0\t0\t(26415)\t(26415)\nImpairment charges\t0\t(51549)\t0\t0\t(51549)\nGain on disposition of properties\t0\t509\t0\t0\t509\nOperating income (loss)\t21706\t(61417)\t0\t(26415)\t(66126)\nInterest income\t0\t0\t7156\t0\t7156\nRealized and unrealized holding gains on investments and other\t0\t79845\t(510)\t0\t79335\nEquity in (losses) earnings of unconsolidated affiliates\t(212)\t57\t0\t0\t(155)\nInterest expense\t(25127)\t(29246)\t0\t0\t(54373)\nIncome tax benefit\t0\t0\t0\t741\t741\nNet (loss) income\t(3633)\t(10761)\t6646\t(25674)\t(33422)\nNet loss attributable to noncontrolling interests\t7691\t27697\t0\t0\t35388\nNet income attributable to Acadia (a)\t4058\t16936\t6646\t(25674)\t1966\nReal estate at cost (b)\t2365426\t1802865\t0\t0\t4168291\nTotal assets (b)\t2291730\t1824880\t134798\t0\t4251408\nCash paid for acquisition of real estate\t19963\t1245\t0\t0\t21208\nCash paid for development and property improvement costs\t7522\t20427\t0\t0\t27949\n", "q10k_tbl_45": "\tAs of or for the Nine Months Ended September 30 2019\t\t\t\t\n\tCore Portfolio\tFunds\tStructured Financing\tUnallocated\tTotal\nRevenues\t131356\t86187\t0\t0\t217543\nDepreciation and amortization\t(45949)\t(46858)\t0\t0\t(92807)\nProperty operating expenses other operating and real estate taxes\t(34730)\t(32217)\t0\t0\t(66947)\nGeneral and administrative expenses\t0\t0\t0\t(25579)\t(25579)\nImpairment charges\t0\t(1721)\t0\t0\t(1721)\nGain on disposition of properties\t0\t14070\t0\t0\t14070\nOperating income\t50677\t19461\t0\t(25579)\t44559\nInterest and other income\t327\t6620\t6247\t0\t13194\nEquity in earnings (losses) of unconsolidated affiliates\t7322\t(193)\t0\t0\t7129\nInterest expense\t(20866)\t(35855)\t0\t0\t(56721)\nIncome tax provision\t0\t0\t0\t(1622)\t(1622)\nNet income (loss)\t37460\t(9967)\t6247\t(27201)\t6539\nNet loss attributable to noncontrolling interests\t648\t24548\t0\t0\t25196\nNet income attributable to Acadia (a)\t38108\t14581\t6247\t(27201)\t31735\nReal estate at cost (b)\t2190281\t1821853\t0\t0\t4012134\nTotal assets (b)\t2316683\t1918055\t94807\t0\t4329545\nCash paid for acquisition of real estate\t82125\t174522\t0\t0\t256647\nCash paid for development and property improvement costs\t19059\t58577\t0\t0\t77636\n", "q10k_tbl_46": "Unvested Restricted Shares and LTIP Units\tCommon Restricted Shares\tWeighted Grant-Date Fair Value\tLTIP Units\tWeighted Grant-Date Fair Value\nUnvested at January 1 2019\t38455\t22.44\t891886\t26.87\nGranted\t25359\t28.56\t348726\t32.78\nVested\t(21424)\t27.12\t(290753)\t29.30\nForfeited\t0\t0\t(15679)\t31.49\nUnvested at December 31 2019\t42390\t23.73\t934180\t28.24\nGranted\t66824\t13.70\t440829\t19.64\nVested\t(19264)\t27.72\t(250241)\t30.44\nForfeited\t(39)\t24.77\t(3879)\t24.67\nUnvested at September 30 2020\t89911\t15.42\t1120889\t24.38\n", "q10k_tbl_47": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(dollars in thousands)\t2020\t2019\t2020\t2019\nNumerator:\t\t\t\t\nNet (loss) income attributable to Acadia\t(9030)\t10458\t1966\t31735\nLess: net income attributable to participating securities\t0\t(38)\t(233)\t(134)\n(Loss) income from continuing operations net of income attributable to participating securities\t(9030)\t10420\t1733\t31601\nDenominator:\t\t\t\t\nWeighted average shares for basic earnings per share\t86308500\t84888445\t86486017\t83552182\nEffect of dilutive securities:\t\t\t\t\nEmployee unvested restricted shares\t0\t0\t0\t0\nDenominator for diluted earnings per share\t86308500\t84888445\t86486017\t83552182\nBasic (loss) and basic and diluted earnings per Common Share from continuing operations attributable to Acadia\t(0.10)\t0.12\t0.02\t0.38\nAnti-Dilutive Shares Excluded from Denominator:\t\t\t\t\nSeries A Preferred OP Units\t188\t188\t188\t188\nSeries A Preferred OP Units - Common share equivalent\t25067\t25067\t25067\t25067\nSeries C Preferred OP Units\t126593\t136593\t126593\t136593\nSeries C Preferred OP Units - Common share equivalent\t439556\t474278\t439556\t474278\nRestricted shares\t76394\t40821\t76394\t40821\n", "q10k_tbl_48": "\tPercentage of Tenants Open for Business as of\t\t\n\tJune 30 2020\tSeptember 30 2020\tOctober 31 2020\nCore\t74%\t86%\t86%\nFund\t74%\t88%\t87%\n", "q10k_tbl_49": "Collections as of:\t\t\t\t\t\t\nJune 30 2020 for\t\tSeptember 30 2020 for\t\tOctober 31 2020 for\t\t\nSecond Quarter 2020\t\tSecond Quarter 2020\tThird Quarter 2020\tSecond Quarter 2020\tThird Quarter 2020\tOctober 2020\nCore\t71%\t74%\t85%\t76%\t87%\t90%\nFund\t62%\t65%\t77%\t67%\t79%\t81%\n", "q10k_tbl_50": "\tNumber of Properties\t\tOperating Properties\t\n\tDevelopment or Redevelopment\tOperating\tGLA\tOccupancy\nCore Portfolio:\t\t\t\t\nChicago Metro\t0\t39\t741365\t86.5%\nNew York Metro\t0\t27\t345954\t88.6%\nLos Angeles Metro\t0\t1\t14000\t100.0%\nSan Francisco Metro\t1\t1\t148832\t100.0%\nWashington DC Metro\t1\t28\t322595\t73.9%\nBoston Metro\t0\t3\t55276\t100.0%\nSuburban\t3\t27\t4015847\t90.0%\nTotal Core Portfolio\t5\t126\t5643869\t89.0%\nAcadia Share of Total Core Portfolio\t5\t126\t5198149\t90.3%\nFund Portfolio:\t\t\t\t\nFund II\t0\t1\t469518\t64.7%\nFund III\t1\t3\t135382\t82.2%\nFund IV\t3\t34\t2321322\t89.8%\nFund V\t0\t14\t4384709\t87.0%\nTotal Fund Portfolio\t4\t52\t7310931\t86.4%\nAcadia Share of Total Fund Portfolio\t4\t52\t1527101\t86.5%\nTotal Core and Funds\t9\t178\t12954800\t87.5%\nAcadia Share of Total Core and Funds\t9\t178\t6725250\t89.4%\n", "q10k_tbl_51": "\tPercentage of Tenants Open for Business as of\t\t\n\tJune 30 2020\tSeptember 30 2020\tOctober 31 2020\nCore\t74%\t86%\t86%\nFund\t74%\t88%\t87%\n", "q10k_tbl_52": "Collections as of:\t\t\t\t\t\t\nJune 30 2020 for\t\tSeptember 30 2020 for\t\tOctober 31 2020 for\t\t\nSecond Quarter 2020\t\tSecond Quarter 2020\tThird Quarter 2020\tSecond Quarter 2020\tThird Quarter 2020\tOctober 2020\nCore\t71%\t74%\t85%\t76%\t87%\t90%\nFund\t62%\t65%\t77%\t67%\t79%\t81%\n", "q10k_tbl_53": "\tThree Months Ended\t\t\t\tThree Months Ended\t\t\t\t\t\t\t\n\tSeptember 30 2020\t\t\t\tSeptember 30 2019\t\t\t\tIncrease (Decrease)\t\t\t\n\tCore\tFunds\tSF\tTotal\tCore\tFunds\tSF\tTotal\tCore\tFunds\tSF\tTotal\nRevenues\t38.8\t12.4\t0\t51.3\t42.1\t31.2\t0\t73.3\t(3.3)\t(18.8)\t0\t(22.0)\nDepreciation and amortization\t(18.0)\t(16.5)\t0\t(34.5)\t(15.2)\t(17.0)\t0\t(32.2)\t2.8\t(0.5)\t0\t2.3\nProperty operating expenses other operating and real estate taxes\t(12.7)\t(9.5)\t0\t(22.2)\t(11.2)\t(12.2)\t0\t(23.4)\t1.5\t(2.7)\t0\t(1.2)\nGeneral and administrative expenses\t0\t0\t0\t(8.6)\t0\t0\t0\t(8.3)\t0\t0\t0\t0.3\nImpairment charges\t0\t0\t0\t0\t0\t(0.3)\t0\t(0.3)\t0\t(0.3)\t0\t(0.3)\nGain on disposition of properties\t0\t0\t0\t0\t0\t12.1\t0\t12.1\t0\t(12.1)\t0\t(12.1)\nOperating income\t8.2\t(13.6)\t0\t(14.0)\t15.8\t13.7\t0\t21.3\t(7.6)\t(27.3)\t0\t(35.3)\nInterest and other income\t0\t0\t2.1\t2.1\t0\t5.0\t1.7\t6.8\t0\t(5.0)\t0.4\t(4.7)\nRealized and unrealized holding losses on investments and other\t0\t(7.9)\t0\t(7.9)\t0\t0\t0\t0\t0\t(7.9)\t0\t7.9\nEquity in (losses) earnings of unconsolidated affiliates\t(0.8)\t0.2\t0\t(0.6)\t1.8\t(0.5)\t0\t1.3\t(2.6)\t0.7\t0\t(1.9)\nInterest expense\t(8.3)\t(9.5)\t0\t(17.8)\t(7.3)\t(11.8)\t0\t(19.1)\t1.0\t(2.3)\t0\t(1.3)\nIncome tax (provision) benefit\t0\t0\t0\t(0.1)\t0\t0\t0\t(1.4)\t0\t0\t0\t1.3\nNet income (loss)\t(0.9)\t(30.8)\t2.1\t(38.3)\t10.2\t6.5\t1.7\t8.8\t(11.1)\t(37.3)\t0.4\t(47.1)\nNet loss attributable to noncontrolling interests\t1.4\t27.9\t0\t29.3\t0.3\t1.4\t0\t1.6\t1.1\t26.5\t0\t27.7\nNet income attributable to Acadia\t0.5\t(2.9)\t2.1\t(9.0)\t10.5\t7.8\t1.7\t10.5\t(10.0)\t(10.7)\t0.4\t(19.5)\n", "q10k_tbl_54": "\tNine Months Ended\t\t\t\tNine Months Ended\t\t\t\t\t\t\t\n\tSeptember 30 2020\t\t\t\tSeptember 30 2019\t\t\t\tIncrease (Decrease)\t\t\t\n\tCore\tFunds\tSF\tTotal\tCore\tFunds\tSF\tTotal\tCore\tFunds\tSF\tTotal\nRevenues\t117.4\t69.1\t0\t186.5\t131.4\t86.2\t0\t217.5\t(14.0)\t(17.1)\t0\t(31.0)\nDepreciation and amortization\t(53.2)\t(48.4)\t0\t(101.6)\t(45.9)\t(46.9)\t0\t(92.8)\t7.3\t1.5\t0\t8.8\nProperty operating expenses other operating and real estate taxes\t(42.5)\t(31.0)\t0\t(73.5)\t(34.7)\t(32.2)\t0\t(66.9)\t7.8\t(1.2)\t0\t6.6\nGeneral and administrative expenses\t0\t0\t0\t(26.4)\t0\t0\t0\t(25.6)\t0\t0\t0\t0.8\nImpairment charges\t0\t(51.5)\t0\t(51.5)\t0\t(1.7)\t0\t(1.7)\t0\t49.8\t0\t49.8\nGain on disposition of properties\t0\t0.5\t0\t0.5\t0\t14.1\t0\t14.1\t0\t(13.6)\t0\t(13.6)\nOperating income (loss)\t21.7\t(61.4)\t0\t(66.1)\t50.7\t19.5\t0\t44.6\t(29.0)\t(80.9)\t0\t(110.7)\nInterest and other income\t0\t0\t7.2\t7.2\t0.3\t6.6\t6.2\t13.2\t(0.3)\t(6.6)\t1.0\t(6.0)\nRealized and unrealized holding gains on investments and other\t0\t79.8\t(0.5)\t79.3\t0\t0\t0\t0\t0\t79.8\t0.5\t(79.3)\nEquity in (losses) earnings of unconsolidated affiliates\t(0.2)\t0.1\t0\t(0.2)\t7.3\t(0.2)\t0\t7.1\t(7.5)\t0.3\t0\t(7.3)\nInterest expense\t(25.1)\t(29.2)\t0\t(54.4)\t(20.9)\t(35.9)\t0\t(56.7)\t4.2\t(6.7)\t0\t(2.3)\nIncome tax benefit (provision)\t0\t0\t0\t0.7\t0\t0\t0\t(1.6)\t0\t0\t0\t2.3\nNet income (loss)\t(3.6)\t(10.8)\t6.6\t(33.4)\t37.5\t(10.0)\t6.2\t6.5\t(41.1)\t(0.8)\t0.4\t(39.9)\nNet loss attributable to noncontrolling interests\t7.7\t27.7\t0\t35.4\t0.6\t24.5\t0\t25.2\t7.1\t3.2\t0\t10.2\nNet income (loss) attributable to Acadia\t4.1\t16.9\t6.6\t2.0\t38.1\t14.6\t6.2\t31.7\t(34.0)\t2.3\t0.4\t(29.7)\n", "q10k_tbl_55": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nConsolidated operating (loss) income (a)\t(14025)\t21265\t(66126)\t44559\nAdd back:\t\t\t\t\nGeneral and administrative\t8625\t8222\t26415\t25579\nDepreciation and amortization\t34457\t32170\t101627\t92807\nImpairment charges\t0\t321\t51549\t1721\nStraight-line rent reserves\t13185\t0\t19714\t0\nLess:\t\t\t\t\nAbove/below-market rent straight-line rent and other adjustments\t(3671)\t(4338)\t(6256)\t(16970)\nGain on disposition of properties\t(24)\t(12056)\t(509)\t(14070)\nConsolidated NOI\t38547\t45584\t126414\t133626\nNoncontrolling interest in consolidated NOI\t(10335)\t(13157)\t(36327)\t(38217)\nLess: Operating Partnership's interest in Fund NOI included above\t(2289)\t(3480)\t(8710)\t(10292)\nAdd: Operating Partnership's share of unconsolidated joint ventures NOI (a)\t3133\t6288\t12353\t19553\nNOI - Core Portfolio\t29056\t35235\t93730\t104670\n", "q10k_tbl_56": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nCore Portfolio NOI\t29056\t35235\t93730\t104670\nLess properties excluded from Same-Property NOI\t(3731)\t(3015)\t(11094)\t(8700)\nSame-Property NOI\t25325\t32220\t82636\t95970\nPercent change from prior year period\t(21.4)%\t\t(13.9)%\t\nComponents of Same-Property NOI:\t\t\t\t\nSame-Property Revenues\t37160\t43783\t117383\t131488\nSame-Property Operating Expenses\t(11835)\t(11563)\t(34747)\t(35518)\nSame-Property NOI\t25325\t32220\t82636\t95970\n", "q10k_tbl_57": "\tThree Months Ended September 30 2020\t\tNine Months Ended September 30 2020\t\nCore Portfolio New and Renewal Leases\tCash Basis\tStraight- Line Basis\tCash Basis\tStraight- Line Basis\nNumber of new and renewal leases executed\t11\t11\t27\t27\nGLA commencing\t120256\t120256\t340889\t340889\nNew base rent\t28.61\t29.38\t20.31\t21.00\nExpiring base rent\t27.23\t26.12\t20.00\t19.24\nPercent growth in base rent\t5.1%\t12.5%\t1.5%\t9.1%\nAverage cost per square foot (a)\t4.22\t4.22\t2.19\t2.19\nWeighted average lease term (years)\t9.2\t9.2\t6.6\t6.6\n", "q10k_tbl_58": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nNet (loss) income attributable to Acadia\t(9030)\t10458\t1966\t31735\nDepreciation of real estate and amortization of leasing costs (net of noncontrolling interests' share)\t25106\t22436\t73584\t66157\nImpairment charges (net of noncontrolling interests' share)\t0\t74\t12400\t395\nGain on disposition of properties (net of noncontrolling interests' share)\t(6)\t(2758)\t(117)\t(3142)\n(Loss) income attributable to Common OP Unit holders\t(475)\t649\t199\t2031\nDistributions - Preferred OP Units\t4\t135\t372\t405\nFunds from operations attributable to Common Shareholders and Common OP Unit holders\t15599\t30994\t88404\t97581\nFunds From Operations per Share - Diluted\t\t\t\t\nBasic weighted-average shares outstanding GAAP earnings\t86308500\t84888445\t86486017\t83552182\nWeighted-average OP Units outstanding\t4890876\t5082189\t5027646\t5139545\nBasic weighted-average shares outstanding FFO\t91199376\t89970634\t91513663\t88691727\nAssumed conversion of Preferred OP Units to Common Shares\t25067\t499345\t464623\t499345\nAssumed conversion of LTIP units and Restricted Share Units to Common Shares\t0\t212776\t0\t212776\nDiluted weighted-average number of Common Shares and Common OP Units outstanding FFO\t91224443\t90682755\t91978286\t89403848\nDiluted Funds from operations per Common Share and Common OP Unit\t0.17\t0.34\t0.96\t1.09\n", "q10k_tbl_59": "\tSeptember 30\tDecember 31\n\t2020\t2019\nTotal Debt - Fixed and Effectively Fixed Rate\t1361199\t1403324\nTotal Debt - Variable Rate\t435076\t314604\n\t1796275\t1717928\nNet unamortized debt issuance costs\t(7261)\t(10383)\nUnamortized premium\t574\t651\nTotal Indebtedness\t1789588\t1708196\n", "q10k_tbl_60": "\tNine Months Ended September 30\t\t\n\t2020\t2019\tVariance\nNet cash provided by operating activities\t81.1\t95.2\t(14.1)\nNet cash used in investing activities\t(92.9)\t(359.6)\t266.7\nNet cash provided by financing activities\t11.6\t290.6\t(279.0)\n(Decrease) increase in cash and restricted cash\t(0.2)\t26.2\t(26.4)\n", "q10k_tbl_61": "\tPayments Due by Period\t\t\t\t\nContractual Obligations\tTotal\tLess than 1 Year\t1 to 3 Years\t3 to 5 Years\tMore than 5 Years\nPrincipal obligations on debt\t1796.3\t483.3\t901.3\t275.9\t135.8\nInterest obligations on debt\t210.4\t60.6\t72.6\t35.9\t41.3\nLease obligations\t205.1\t1.9\t16.5\t15.9\t170.8\nConstruction commitments (a)\t33.6\t33.6\t0\t0\t0\nTotal\t2245.4\t579.4\t990.4\t327.7\t347.9\n", "q10k_tbl_62": "\tOperating Partnership\t\tSeptember 30 2020\t\nInvestment\tOwnership Percentage\tPro-rata Share of Mortgage Debt\tEffective Interest Rate (a)\tMaturity Date\n650 Bald Hill Road\t20.8%\t3.2\t2.81%\tOct 2020\nEden Square (b)\t22.8%\t5.4\t2.31%\tDec 2020\nPromenade at Manassas (c)\t22.8%\t6.3\t1.91%\tDec 2021\n3104 M Street\t20.0%\t0.9\t3.75%\tDec 2021\nFamily Center at Riverdale (c)\t18.0%\t5.8\t1.86%\tMay 2022\nGotham Plaza\t49.0%\t9.3\t1.76%\tJun 2023\nRenaissance Portfolio\t20.0%\t32.0\t1.86%\tAug 2023\nCrossroads\t49.0%\t31.3\t3.94%\tOct 2024\nTri-City Plaza\t18.1%\t7.0\t2.06%\tOct 2024\nFrederick Crossing (b)\t18.1%\t4.4\t1.91%\tDec 2024\nFrederick County Square (b)\t18.1%\t2.7\t2.56%\tJan 2025\n840 N. Michigan\t88.4%\t65.0\t4.36%\tFeb 2025\nGeorgetown Portfolio\t50.0%\t8.0\t4.72%\tDec 2027\nTotal\t\t181.3\t\t\n", "q10k_tbl_63": "Year\tScheduled Amortization\tMaturities\tTotal\tWeighted-Average Interest Rate\n2020 (Remainder)\t0.8\t26.3\t27.1\t6.0%\n2021\t3.5\t30.0\t33.5\t3.3%\n2022\t3.6\t127.4\t131.0\t1.5%\n2023\t2.9\t367.9\t370.8\t1.4%\n2024\t2.6\t7.4\t10.0\t4.7%\nThereafter\t13.1\t177.4\t190.5\t3.3%\n\t26.5\t736.4\t762.9\t\n", "q10k_tbl_64": "Year\tScheduled Amortization\tMaturities\tTotal\tWeighted-Average Interest Rate\n2020 (Remainder)\t1.0\t60.3\t61.3\t3.2%\n2021\t3.1\t418.5\t421.6\t2.4%\n2022\t3.1\t293.3\t296.4\t4.3%\n2023\t3.8\t40.9\t44.7\t1.7%\n2024\t2.6\t199.4\t202.0\t1.9%\nThereafter\t0.3\t7.1\t7.4\t3.6%\n\t13.9\t1019.5\t1033.4\t\n", "q10k_tbl_65": "Year\tScheduled Amortization\tMaturities\tTotal\tWeighted-Average Interest Rate\n2020 (Remainder)\t0.3\t8.6\t8.9\t2.5%\n2021\t1.2\t7.1\t8.3\t2.1%\n2022\t1.2\t5.8\t7.0\t1.9%\n2023\t1.2\t40.6\t41.8\t1.8%\n2024\t0.9\t39.7\t40.6\t3.4%\nThereafter\t0.8\t73.9\t74.7\t4.3%\n\t5.6\t175.7\t181.3\t\n", "q10k_tbl_66": "Exhibit No.\tDescription\tMethod of Filing\n10.1\tAcadia Realty Trust 2020 Share Incentive Plan\tIncorporated by reference to page 63 of the Company's 2020 Definitive Proxy Statement filed with the SEC on March 24 2020\n31.1\tCertification of Chief Executive Officer pursuant to rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n31.2\tCertification of Chief Financial Officer pursuant to rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n32.1\tCertification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n32.2\tCertification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n101.INS\tXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\tFiled herewith\n101.SCH\tInline XBRL Taxonomy Extension Schema Document\tFiled herewith\n101.CAL\tInline XBRL Taxonomy Extension Calculation Document\tFiled herewith\n101.DEF\tInline XBRL Taxonomy Extension Definitions Document\tFiled herewith\n101.LAB\tInline XBRL Taxonomy Extension Labels Document\tFiled herewith\n101.PRE\tInline XBRL Taxonomy Extension Presentation Document\tFiled herewith\n104\tCover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)\tFiled herewith\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_43", "cf": "q10k_tbl_8"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period endedSeptember 30, 2020
or
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number 001-12002
ACADIA REALTY TRUST
(Exact name of registrant in its charter)
Maryland
(State or other jurisdiction of
incorporation or organization)
23-2715194
(I.R.S. Employer
Identification No.)
411 THEODORE FREMD AVENUE, SUITE 300, RYE, NY
(Address of principal executive offices)
10580
(Zip Code)
(914) 288-8100
(Registrant’s telephone number, including area code)
Title of class of registered securities
Trading symbol
Name of exchange on which registered
Common shares of beneficial interest, par value $0.001 per share
AKR
The New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
YES☒
NO☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
YES☒
NO☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
☒
Accelerated Filer
☐
Emerging Growth Company
☐
Non-accelerated Filer
☐
Smaller Reporting Company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act) Yes ☐ No ☒
As of October 30, 2020 there were 86,268,103 common shares of beneficial interest, par value $0.001 per share (“Common Shares”), outstanding.
Certain statements contained in this Quarterly Report on Form 10-Q (this “Report”) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project,” or the negative thereof, or other variations thereon or comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results and financial performance to be materially different from future results and financial performance expressed or implied by such forward-looking statements, including, but not limited to: (i) economic, political and social uncertainty surrounding the COVID-19 Pandemic (the “COVID-19 Pandemic”), including (a) the effectiveness or lack of effectiveness of governmental relief in providing assistance to large and small businesses, including the Company’s tenants, that have suffered significant declines in revenues as a result of mandatory business shut-downs, “shelter-in-place” or “stay-at-home” orders and social distancing practices, as well as individuals adversely impacted by the COVID-19 Pandemic, (b) the duration of any such orders or other formal recommendations for social distancing and the speed and extent to which revenues of the Company’s retail tenants recover following the lifting of any such orders or recommendations, (c) the potential impact of any such events on the obligations of the Company’s tenants to make rent and other payments or honor other commitments under existing leases, (d) to the extent we were seeking to sell properties in the near term, significantly greater uncertainty regarding our ability to do so at attractive prices, (e) the potential adverse impact on returns from development and redevelopment projects, and (f) the broader impact of the severe economic contraction and increase in unemployment that has occurred in the short term and negative consequences that will occur if these trends are not quickly reversed; (ii) the ability and willingness of the Company’s tenants (in particular its major tenants) and other third parties to satisfy their obligations under their respective contractual arrangements with the Company; (iii) macroeconomic conditions, such as a disruption of or lack of access to the capital markets; (iv) the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (v) changes in general economic conditions or economic conditions in the markets in which the Company may, from time to time, compete, and their effect on the Company’s revenues, earnings and funding sources; (vi) increases in the Company’s borrowing costs as a result of changes in interest rates and other factors, including the potential phasing out of the London Interbank Offered Rate after 2021; (vii) the Company’s ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; (viii) the Company’s investments in joint ventures and unconsolidated entities, including its lack of sole decision-making authority and its reliance on its joint venture partners’ financial condition; (ix) the Company’s ability to obtain the financial results expected from its development and redevelopment projects; (x) the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration, the Company’s ability to re-lease its properties on the same or better terms in the event of nonrenewal or in the event the Company exercises its right to replace an existing tenant, and obligations the Company may incur in connection with the replacement of an existing tenant; (xi) the Company’s liability for environmental matters; (xii) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (xiii) uninsured losses; (xiv) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (xv) information technology security breaches, including increased cybersecurity risks relating to the use of remote technology during the COVID-19 Pandemic; and (xvi) the loss of key executives.
The factors described above are not exhaustive and additional factors could adversely affect the Company’s future results and financial performance, including the risk factors discussed under the section captioned “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and other periodic or current reports the Company files with the SEC, including those set forth under the headings “Item 1A. Risk Factors” and “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Report. These risks and uncertainties should be considered in evaluating any forward-looking statements contained or incorporated by reference herein. Any forward-looking statements speak only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in the events, conditions or circumstances on which such forward-looking statements are based.
SPECIAL NOTE REGARDING CERTAIN REFERENCES
All references to “Notes” throughout the document refer to the footnotes to the consolidated financial statements of the registrant referenced in Part I, Item 1. Financial Statements.
3
PART I – FINANCIAL INFORMATION
ITEM 1.
FINANCIAL STATEMENTS.
ACADIA REALTY TRUST AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
September 30,
December 31,
(dollars in thousands, except per share amounts)
2020
2019
ASSETS
(Unaudited)
Investments in real estate, at cost
Operating real estate, net
$
3,347,431
$
3,355,913
Real estate under development
268,298
253,402
Net investments in real estate
3,615,729
3,609,315
Notes receivable, net
134,798
114,943
Investments in and advances to unconsolidated affiliates
240,414
305,097
Other assets, net
183,170
190,658
Cash and cash equivalents
16,108
15,845
Restricted cash
13,673
14,165
Rents receivable
47,516
59,091
Total assets
$
4,251,408
$
4,309,114
LIABILITIES
Mortgage and other notes payable, net
$
1,159,688
$
1,170,076
Unsecured notes payable, net
502,500
477,320
Unsecured line of credit
127,400
60,800
Accounts payable and other liabilities
394,111
371,516
Dividends and distributions payable
147
27,075
Distributions in excess of income from, and investments in, unconsolidated affiliates
15,462
15,362
Total liabilities
2,199,308
2,122,149
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,266,122 and 87,050,465 shares, respectively