v3.26.3
Variable Interest Entities - Schedule of Assets and Liabilities Included in Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2024
ASSETS        
Operating real estate, net $ 3,795,497 $ 3,983,754    
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 $ 49,388 $ 16,806
Restricted cash 11,322 18,081 25,647 $ 22,897
Rents receivable, net 60,409 65,027    
Total assets 4,829,735 [1],[2] 4,837,152 [1] $ 4,875,192 [2]  
Liabilities:        
Mortgage and other notes payable, net 479,407 893,944    
Unsecured notes payable, net 1,107,513 879,462    
Accounts payable and other liabilities 258,035 273,479    
Lease liabilities - operating leases 26,281 [3] 25,972    
Total liabilities [1] 2,149,402 2,207,721    
VIE        
ASSETS        
Operating real estate, net 1,013,269 1,768,555    
Investments in and advances to unconsolidated affiliates 35,626 53,255    
Other assets, net 40,525 78,266    
Right-of-use assets - operating leases, net 1,179 1,539    
Cash and cash equivalents 26,681 30,429    
Restricted cash 6,021 6,517    
Rents receivable, net 14,079 29,324    
Total assets [4] 1,137,380 1,967,885    
Liabilities:        
Mortgage and other notes payable, net 380,634 793,840    
Unsecured notes payable, net 45,250 61,250    
Accounts payable and other liabilities 81,201 125,586    
Lease liabilities - operating leases 1,230 1,604    
Total liabilities [4] $ 508,315 $ 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: $1,013.3 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.
[2] 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.
[3] 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.
[4] The Operating Partnership is joint and severally liable for the outstanding balance of the Fund IV Term Loan, which had a balance of $45.3 million as of September 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.