Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summary of Segment Information

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

	For the Three Months Ended September 30, 2023
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	47,334		$	34,058		$	—		$	—		$	81,392
Depreciation and amortization		(18,847	)		(14,879	)		—			—			(33,726	)
Property operating expenses and real estate taxes		(15,553	)		(11,427	)		—			—			(26,980	)
General and administrative expenses		—			—			—			(10,309	)		(10,309	)
Impairment charges		—			(3,686	)		—			—			(3,686	)
Gain on disposition of properties		—			—			—			—			—
Operating income		12,934			4,066			—			(10,309	)		6,691
Interest and other income		—			—			5,087			—			5,087
Realized and unrealized holding gains (losses) on investments and other		1,729			—			(65	)		—			1,664
Equity in losses of unconsolidated affiliates		(825	)		(4,040	)		—			—			(4,865	)
Interest expense		(11,388	)		(13,497	)		—			—			(24,885	)
Income tax benefit		—			—			—			40			40
Net income (loss)		2,450			(13,471	)		5,022			(10,269	)		(16,268	)
Net loss attributable to redeemable noncontrolling interests		—			2,495			—			—			2,495
Net (income) loss attributable to noncontrolling interests		(176	)		12,523			—			—			12,347
Net income attributable to Acadia	$	2,274		$	1,547		$	5,022		$	(10,269	)	$	(1,426	)

	For the Three Months Ended September 30, 2022
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	50,076		$	29,870		$	—		$	—		$	79,946
Depreciation and amortization		(18,811	)		(14,933	)		—			—			(33,744	)
Property operating expenses and real estate taxes		(14,808	)		(10,751	)		—			—			(25,559	)
General and administrative expenses		—			—			—			(10,170	)		(10,170	)
Impairment charges		—			(33,311	)		—			—			(33,311	)
Gain on disposition of properties		—			8,885			—			—			8,885
Operating income (loss)		16,457			(20,240	)		—			(10,170	)		(13,953	)
Interest and other income		—			—			3,994			—			3,994
Realized and unrealized holding (losses) gains on investments and other		—			(7,257	)		(605	)		—			(7,862	)
Equity in losses of unconsolidated affiliates		(49,806	)		(773	)		—			—			(50,579	)
Interest expense		(10,428	)		(10,734	)		—			—			(21,162	)
Income tax benefit		—			—			—			17			17
Net income (loss)		(43,777	)		(39,004	)		3,389			(10,153	)		(89,545	)
Net loss attributable to redeemable noncontrolling interests		—			3,193			—			—			3,193
Net loss attributable to noncontrolling interests		2,884			27,577			—			—			30,461
Net loss attributable to Acadia	$	(40,893	)	$	(8,234	)	$	3,389		$	(10,153	)	$	(55,891	)

	As of or for the Nine Months Ended September 30, 2023
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	153,506		$	99,673		$	—	$	—		$	253,179
Depreciation and amortization		(57,541	)		(43,414	)		—		—			(100,955	)
Property operating expenses and real estate taxes		(46,717	)		(32,466	)		—		—			(79,183	)
General and administrative expenses		—			—			—		(30,898	)		(30,898	)
Impairment charges		—			(3,686	)		—		—			(3,686	)
Operating income		49,248			20,107			—		(30,898	)		38,457
Interest and other income		—			—			14,875		—			14,875
Realized and unrealized holding gains on investments and other		5,218			24,995			23		—			30,236
Equity in earnings (losses) of unconsolidated affiliates		1,897			(8,170	)		—		—			(6,273	)
Interest expense		(33,048	)		(35,513	)		—		—			(68,561	)
Income tax provision		—			—			—		(248	)		(248	)
Net income		23,315			1,419			14,898		(31,146	)		8,486
Net loss attributable to redeemable noncontrolling interests		—			5,661			—		—			5,661
Net (income) loss attributable to noncontrolling interests		(1,813	)		8,876			—		—			7,063
Net income attributable to Acadia	$	21,502		$	15,956		$	14,898	$	(31,146	)	$	21,210
Real estate at cost (a)	$	2,639,893		$	1,735,200		$	—	$	—		$	4,375,093
Total assets (a)	$	2,596,241		$	1,560,724		$	123,813	$	—		$	4,280,778
Cash paid for acquisition of real estate	$	—		$	48,909		$	—	$	—		$	48,909
Cash paid for development and property improvement costs	$	33,599		$	17,681		$	—	$	—		$	51,280

	As of or for the Nine Months Ended September 30, 2022
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	151,650		$	94,062		$	—		$	—		$	245,712
Depreciation and amortization		(56,547	)		(45,881	)		—			—			(102,428	)
Property operating expenses and real estate taxes		(44,379	)		(31,005	)		—			—			(75,384	)
General and administrative expenses		—			—			—			(32,768	)		(32,768	)
Impairment charges		—			(33,311	)		—			—			(33,311	)
Gain on disposition of properties		—			49,916			—			—			49,916
Operating income		50,724			33,781			—			(32,768	)		51,737
Interest and other income		—			—			9,890			—			9,890
Realized and unrealized holding gains (losses) on investments and other		1,163			(19,073	)		(505	)		—			(18,415	)
Equity in (losses) earnings of unconsolidated affiliates		(47,402	)		1,233			—			—			(46,169	)
Interest expense		(26,543	)		(31,766	)		—			—			(58,309	)
Income tax provision		—			—			—			(7	)		(7	)
Net income		(22,058	)		(15,825	)		9,385			(32,775	)		(61,273	)
Net loss attributable to redeemable noncontrolling interests		—			3,193			—			—			3,193
Net loss attributable to noncontrolling interests		1,398			17,255			—			—			18,653
Net (loss) income attributable to Acadia	$	(20,660	)	$	4,623		$	9,385		$	(32,775	)	$	(39,427	)
Real estate at cost (a)	$	2,614,103		$	1,651,319		$	—		$	—		$	4,265,422
Total assets (a)	$	2,636,041		$	1,603,491		$	123,966		$	—		$	4,363,498
Cash paid for acquisition of real estate	$	242,633		$	—		$	—		$	—		$	242,633
Cash paid for development and property improvement costs	$	22,325		$	14,538		$	—		$	—		$	36,863

Real estate at cost and total assets for the Funds segment include $670.1 million and $661.7 million, or $423.8 million and $418.5 million net of noncontrolling interests, related to Fund II’s City Point property at September 30, 2023 and 2022, respectively.