The following tables set forth certain segment information for the Company (in thousands):



	As of or for the Three Months Ended March 31, 2017
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	44,446		$	17,553		$	—	$	—		$	61,999
Depreciation and amortization	(16,439		)	(8,097		)	—		—			(24,536		)
Property operating expenses, other operating and real estate taxes	(12,853		)	(6,244		)	—		—			(19,097		)
General and administrative expenses	—			—			—		(8,469		)	(8,469		)
Operating income	15,154			3,212			—		(8,469		)	9,897
Interest income	—			—			8,984		—			8,984
Equity in earnings of unconsolidated affiliates	560			12,143			—		—			12,703
Interest expense	(7,155		)	(4,333		)	—		—			(11,488		)
Income tax provision	—			—			—		(125		)	(125		)
Net income	8,559			11,022			8,984		(8,594		)	19,971
Net income attributable to noncontrolling interests	(432		)	(3,908		)	—		—			(4,340		)
Net income attributable to Acadia	8,127			7,114			8,984		(8,594		)	15,631

Real estate at cost	$	1,983,365		$	1,480,201		$	—	$	—		$	3,463,566
Total assets	$	2,246,037		$	1,498,045		$	276,507	$	—		$	4,020,589
Acquisition of real estate	$	—		$	34,688		$	—	$	—		$	34,688
Development and property improvement costs	$	996		$	26,019		$	—	$	—		$	27,015



	As of or for the Three Months Ended March 31, 2016
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	38,107		$	9,938		$	—	$	—		$	48,045
Depreciation and amortization	(13,495		)	(3,354		)	—		—			(16,849		)
Property operating expenses, other operating and real estate taxes	(8,562		)	(3,431		)	—		—			(11,993		)
General and administrative expenses	—			—			—		(9,352		)	(9,352		)
Operating income	16,050			3,153			—		(9,352		)	9,851
Gain on disposition of properties	—			65,393			—		—			65,393
Interest income	—			—			4,638		—			4,638
Equity in earnings of unconsolidated affiliates	592			1,362			—		—			1,954
Interest expense	(6,764		)	(1,274		)	—		—			(8,038		)
Income tax benefit	—			—			—		77			77
Net income	9,878			68,634			4,638		(9,275		)	73,875
Net income attributable to noncontrolling interests	(2,822		)	(42,128		)	—		—			(44,950		)
Net income attributable to Acadia	7,056			26,506			4,638		(9,275		)	28,925

Real estate at cost	$	1,641,312		$	1,104,902		$	—	$	—		$	2,746,214
Total assets	$	1,827,059		$	1,166,589		$	154,679	$	—		$	3,148,327
Acquisition of real estate	$	—		$	12,287		$	—	$	—		$	12,287
Development and property improvement costs	$	3,248		$	34,215		$	—	$	—		$	37,463