v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
ASSETS    
Operating real estate, net $ 3,795,497 $ 3,983,754
Real estate under development 212,538 167,051
Net investments in real estate 4,008,035 4,150,805
Notes receivable, net ($2,781 and $1,638 of allowance for credit losses as of September 30, 2026 and December 31,2025, respectively) [1] 208,535 154,892
Investments in and advances to unconsolidated affiliates 262,271 161,955
Other assets, net 217,004 223,980
Right-of-use assets - operating leases, net 24,175 23,594
Cash and cash equivalents 37,984 38,818
Restricted cash 11,322 18,081
Rents receivable, net 60,409 65,027
Total assets [2] 4,829,735 [3] 4,837,152
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY    
Mortgage and other notes payable, net 479,407 893,944
Unsecured notes payable, net 1,107,513 879,462
Unsecured line of credit 232,323 89,500
Accounts payable and other liabilities 258,035 273,479
Lease liabilities - operating leases 26,281 [4] 25,972
Dividends and distributions payable 29,351 28,526
Distributions in excess of income from, and investments in, unconsolidated affiliates 16,492 16,838
Total liabilities [2] 2,149,402 2,207,721
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests (Note 10) 4,472 9,113
Acadia Shareholders' Equity    
Common shares, $0.001 par value per share, authorized 200,000,000 shares, issued and outstanding 138,138,232 and 131,036,560 shares as of September 30, 2026 and December 31,2025, respectively 138 131
Additional paid-in capital 2,848,006 2,710,651
Accumulated other comprehensive income 38,684 15,585
Distributions in excess of accumulated earnings (550,249) (500,720)
Total Acadia shareholders’ equity 2,336,579 2,225,647
Noncontrolling interests 339,282 394,671
Total equity 2,675,861 2,620,318
Total liabilities, redeemable noncontrolling interests, and equity $ 4,829,735 $ 4,837,152
[1] Includes Notes receivable, net from related parties of $14.4 million and $14.3 million as of September 30, 2026 and December 31, 2025, respectively (Note 3).
[2] 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: $1,013.3 million and $1,768.6 million of Operating real estate, net; $35.6 million and $53.3 million of Investments in and advances to unconsolidated affiliates; $40.5 million and $78.3 million of Other assets, net; $1.2 million and $1.5 million of Right-of-use assets - operating leases, net; $26.7 million and $30.4 million of Cash and cash equivalents; $6.0 million and $6.5 million of Restricted cash; $14.1 million and $29.3 million of Rents receivable, net; $380.6 million and $793.8 million of Mortgage and other notes payable, net; $45.3 million and $61.3 million of Unsecured notes payable, net; $81.2 million and $125.6 million of Accounts payable and other liabilities; $1.2 million and $1.6 million of Lease liabilities- operating leases, net, as of September 30, 2026 and December 31, 2025, respectively.
[3] Total assets for the Investment Management segment include $513.1 million and $529.5 million related to the City Point property as of September 30, 2026 and 2025, respectively.
[4] Minimum rental payments include $6.0 million of interest related to operating leases and $127.1 million related to finance leases. These amounts exclude lease renewal options that are not reasonably certain to be exercised.