v3.26.1
Variable Interest Entities - Schedule of Assets and Liabilities Included in Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
ASSETS        
Operating real estate, net $ 3,677,439 $ 3,983,754    
Investments in and advances to unconsolidated affiliates 263,598 161,955    
Other assets, net 194,661 223,980    
Right-of-use assets - operating leases, net 21,589 23,594    
Cash and cash equivalents 32,960 38,818 $ 42,780 $ 16,806
Restricted cash 16,272 18,081 25,029 $ 22,897
Rents receivable, net 55,430 65,027    
Assets of property held for sale 6,835 0    
Total assets 4,617,507 [1],[2] 4,837,152 [1] $ 4,875,569 [2]  
Liabilities:        
Mortgage and other notes payable, net 480,045 893,944    
Unsecured notes payable, net 1,113,650 879,462    
Accounts payable and other liabilities 229,641 273,479    
Lease liabilities - operating leases 23,852 [3] 25,972    
Total liabilities [1] 1,936,610 2,207,721    
VIE        
ASSETS        
Operating real estate, net 1,001,997 1,768,555    
Investments in and advances to unconsolidated affiliates 37,093 53,255    
Other assets, net 41,023 78,266    
Right-of-use assets - operating leases, net 1,300 1,539    
Cash and cash equivalents 27,241 30,429    
Restricted cash 6,998 6,517    
Rents receivable, net 11,884 29,324    
Assets of property held for sale 6,835 0    
Total assets [4] 1,134,371 1,967,885    
Liabilities:        
Mortgage and other notes payable, net 380,952 793,840    
Unsecured notes payable, net 52,250 61,250    
Accounts payable and other liabilities 79,720 125,586    
Lease liabilities - operating leases 1,355 1,604    
Total liabilities [4] $ 514,277 $ 982,280    
[1] Includes consolidated assets and liabilities of Acadia Realty Limited Partnership (the “Operating Partnership”), including those of its consolidated variable interest entities (“VIEs”) (Note 15), consisting of: $1,002.0 million and $1,768.6 million of Operating real estate, net; $37.1 million and $53.3 million of Investments in and advances to unconsolidated affiliates; $41.0 million and $78.3 million of Other assets, net; $1.3 million and $1.5 million of Right-of-use assets - operating leases, net; $27.2 million and $30.4 million of Cash and cash equivalents; $7.0 million and $6.5 million of Restricted cash; $11.9 million and $29.3 million of Rents receivable, net; $6.8 million and $- million of Assets of property held for sale, $381.0 million and $793.8 million of Mortgage and other notes payable, net; $52.3 million and $61.3 million of Unsecured notes payable, net; $79.7 million and $125.6 million of Accounts payable and other liabilities; $1.4 million and $1.6 million of Lease liabilities- operating leases, net, as of June 30, 2026 and December 31, 2025, respectively.
[2] Total assets for the Investment Management segment include $516.1 million and $533.7 million related to Fund II’s City Point property as of June 30, 2026 and 2025, respectively.
[3] Minimum rental payments include $5.7 million of interest related to operating leases and $127.7 million related to finance leases. These amounts exclude lease renewal options that are not reasonably certain to be exercised.
[4] The Operating Partnership is joint and severally liable for the outstanding balance of the Fund IV Term Loan, which had a balance of $52.3 million as of June 30, 2026 (Note 7, Note 9). The remaining VIE assets are generally encumbered by third-party non-recourse mortgage debt and serve as collateral under the respective property mortgage loans. These assets are restricted and may only be used to settle the corresponding obligations of the VIEs. Similarly, the remaining VIE liabilities are obligations of these consolidated VIEs and do not have recourse to the Operating Partnership or the Company.