CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
ASSETS
Operating real estate, net		$ 3,517,281	$ 3,343,265
Real estate under development		94,799	184,602
Net investments in real estate		3,612,080	3,527,867
Notes receivable, net ($1,279 and $898 of allowance for credit losses as of December 31, 2023 and December 31, 2022, respectively)		124,949	123,903
Investments in and advances to unconsolidated affiliates		197,240	291,156
Other assets, net		208,460	229,591
Right-of-use assets - operating leases, net		29,286	37,281
Cash and cash equivalents		17,481	17,158
Restricted cash		7,813	15,063
Marketable securities		33,284
Rents receivable, net		49,504	49,506
Assets of properties held for sale		11,057	11,057
Total assets	[1],[2]	4,291,154	4,302,582
Liabilities:
Mortgage and other notes payable, net		930,127	928,639
Unsecured notes payable, net		726,727	696,134
Unsecured line of credit		213,287	168,287
Accounts payable and other liabilities		229,375	196,491
Lease liability - operating leases		31,580	35,271
Dividends and distributions payable		18,520	18,395
Distributions in excess of income from, and investments in, unconsolidated affiliates		7,982	10,505
Total liabilities	[1]	2,157,598	2,053,722
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests (Note 10)		50,339	67,664
Acadia Shareholders' Equity
Common shares, $0.001 par value per share, authorized 200,000,000 shares, issued and outstanding 95,361,676 and 95,120,773 shares, respectively		95	95
Additional paid-in capital		1,953,521	1,945,322
Accumulated other comprehensive income		32,442	46,817
Distributions in excess of accumulated earnings		(349,141)	(300,402)
Total Acadia shareholders’ equity		1,636,917	1,691,832
Noncontrolling interests		446,300	489,364
Total equity		2,083,217	2,181,196
Total liabilities, redeemable noncontrolling interests, and equity		$ 4,291,154	$ 4,302,582

[1] Represents the consolidated assets and liabilities of Acadia Realty Limited Partnership (the "Operating Partnership"), which is a consolidated variable interest entity ("VIE") (Note 16). The Consolidated Balance Sheets include the following amounts related to our consolidated VIEs that are consolidated by the Operating Partnership: $1,679.8 million and $1,466.4 million of Operating real estate, net; $28.9 million and $129.9 million of Real estate under development; $92.8 million and $210.9 million of Investments in and advances to unconsolidated affiliates; $101.7 million and $98.7 million of Other assets, net; $2.1 million and $2.5 million of Right-of-use assets - operating leases, net; $10.8 million and $13.3 million of Cash and cash equivalents; $7.0 million and $15.0 million of Restricted cash; $21.4 million and $17.9 million of Rents receivable, net; $764.6 million and $761.2 million of Mortgage and other notes payable, net; $80.5 million and $51.2 million of Unsecured notes payable, net; $127.2 million and $95.4 million of Accounts payable and other liabilities; $2.2 million and $2.7 million of Lease liability- operating leases as of December 31, 2023 and 2022, respectively.

[2] Total assets for the Funds segment include $555.8 million, $569.1 million, and $583.4 million related to Fund II’s City Point property at December 31, 2023, 2022,and 2021, respectively.