EX-99.3 4 exhibit9932017-03x288xk.htm EXHIBIT 99.3 Exhibit
Exhibit 99.3


ACADIA REALTY TRUST
RENT SPREADS ON CORE PORTFOLIO NEW AND RENEWAL LEASES
FORM 10-K

 
 
As Reported
 
As Corrected
 
 
Year ended December 31, 2016
Year ended December 31, 2016
Core Portfolio New and Renewal Leases
 
Cash Basis
 
Straight-Line Basis
 
Cash Basis
 
Straight-Line Basis
Number of new and renewal leases executed
 
63
 
65
Gross leasable area
 
390,521
 
395,447
New base rent
 
$
23.17

 
$
24.54

 
$
26.69

 
$
29.58

Previous base rent
 
$
21.36

 
$
20.96

 
$
23.73

 
$
23.33

Percentage growth in base rent
 
8.5
%
 
17.1
%
 
12.5
%
 
26.8
%
Average cost per square foot
 
$11.46
 
$14.49
Weighted average lease term (years)
 
5.8
 
5.9