EX-99.1 2 exhibit9912017-03x288xk.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1

ACADIA REALTY TRUST
CORE PORTFOLIO - NEW AND RENEWAL RENT SPREADS
SUPPLEMENTAL REPORT


 
 
As Reported
 
As Corrected
 
 
Year ended
 
3 months ended
 
Year ended
 
3 months ended
 
 
December 31, 2016
 
September 30, 2016
 
December 31, 2016
 
September 30, 2016
 
 
GAAP
 
Cash
 
GAAP
 
Cash
 
GAAP
 
Cash
 
GAAP
 
Cash
Renewal leases
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of renewal leases executed
 
45
 
9
 
47
 
11
GLA
 
317,068
 
48,737
 
321,994
 
53,664
New base rent
 
$
21.47

 
$
21.04

 
$
26.75

 
$
26.51

 
$
27.71

 
$
25.40

 
$
63.69

 
$
52.18

Expiring base rent
 
$
19.08

 
$
19.46

 
$
24.12

 
$
24.30

 
$
22.03

 
$
22.40

 
$
41.35

 
$
41.51

Average cost per square foot
 
$1.66
 
$0.03
 
$5.54
 
$23.46
Weighted Average Lease Term (years)
 
4.7
 
4.6
 
4.8
 
5.5
Percentage growth in base rent
 
12.5
%
 
8.1
%
 
10.9
%
 
9.1
%
 
25.8
%
 
13.4
%
 
54.0
%
 
25.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total new and renewal leases
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of new and renewal leases executed
 
63
 
13
 
65
 
15
GLA commencing
 
390,521
 
63,181
 
395,447
 
68,108
New base rent
 
$
24.54

 
$
23.17

 
$
31.23

 
$
30.20

 
$
29.58

 
$
26.69

 
$
60.01

 
$
50.15

Expiring base rent
 
$
20.96

 
$
21.36

 
$
27.14

 
$
27.37

 
$
23.33

 
$
23.73

 
$
40.50

 
$
40.71

Average cost per square foot
 
$11.46
 
$10.54
 
$14.49
 
$28.24
Weighted Average Lease Term (years)
 
5.8
 
5.4
 
5.9
 
6.1
Percentage growth in base rent
 
17.1
%
 
8.5
%
 
15.1
%
 
10.3
%
 
26.8
%
 
12.5
%
 
48.2
%
 
23.2
%