Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Operating Partnership's Equity Interest

The following table summarizes the general terms and Operating Partnership’s equity interests in the Funds and Mervyns II (dollars in millions):

Entity	Formation Date	Operating Partnership Share of Capital			Capital Called as of December 31, 2020 (b)		Unfunded Commitment (b, c)		Equity Interest Held By Operating Partnership (a)			Preferred Return			Total Distributions as of December 31, 2020 (b, c)
Fund II and Mervyns II (c)	6/2004		28.33	%	$	369.6	$	15.7		28.33	%		8	%	$	169.8
Fund III	5/2007		24.54	%		448.1		1.9		24.54	%		6	%		568.8
Fund IV	5/2012		23.12	%		469.5		60.5		23.12	%		6	%		193.1
Fund V	8/2016		20.10	%		217.1		302.9		20.10	%		6	%		24.6

(a) Amount represents the current economic ownership at December 31, 2020, which could differ from the stated legal ownership based upon the cumulative preferred returns of the respective Fund.

(b) Represents the total for the Funds, including the Operating Partnership and noncontrolling interests’ shares.

(c)

During April 2018, a distribution of $15.0 million was made to the Fund II investors, including $4.3 million to the Operating Partnership, which amount was re-contributed to Fund II in April 2020. During June 2020, a distribution was made by Mervyn’s II to its investors which was re-contributed to Fund II in the amount of $7.5 million. During August 2020, a recallable distribution of $15.7 million was made by Mervyn’s II to its investors, of which $4.5 million was the Company’s share.

Schedule of Tenant Operating Status

Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated annualized base rents (“ABR”) derived from stores which were open or partially open for business as of the dates indicated:

	Percentage of Tenants Open for Business as of
	June 30, 2020			September 30, 2020			December 31 , 2020
Core		74	%		86	%		88	%
Fund		74	%		88	%		82	%

• Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated ABR derived from stores which were open or partially open for business as of the dates indicated:  

	Percentage of Tenants Open for Business as of
	June 30, 2020			September 30, 2020			December 31, 2020			January 31, 2021
Core		74	%		86	%		88	%		89	%
Fund		74	%		88	%		82	%		85	%

Schedule of Rent Collections

Rent Collections –The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown:

	Collections as of:
	September 30, 2020 for						December 31, 2020 for
	Second Quarter 2020			Third Quarter 2020			Second Quarter 2020			Third Quarter 2020			Fourth Quarter 2020
Core		74	%		85	%		76	%		87	%		91	%
Fund		65	%		77	%		67	%		79	%		82	%

• Rent Collections – The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown (Fund collections rates exclude data for non-managed properties):

	Collections as of:
	September 30, 2020 for						December 31, 2020 for									January 31, 2021 for
	Second Quarter 2020			Third Quarter 2020			Second Quarter 2020			Third Quarter 2020			Fourth Quarter 2020			Fourth Quarter 2020
																(Unaudited)
Core		74	%		85	%		76	%		87	%		91	%		92	%
Fund		65	%		77	%		67	%		79	%		82	%		84	%

Schedule of Earnings Impact

The rental income reductions and impairment charges impacted net earnings and segment performance as follows:

	Year Ended December 31, 2020
	Consolidated		Non-Controlling Interests			Unconsolidated		Attributable to Acadia
Credit Loss - Billed Rents
Core	$	12,870	$	(37	)	$	1,564	$	14,397
Funds		11,901		(9,969	)		1,017		2,949
Total		24,771		(10,006	)		2,581		17,346
Straight - Line Rent Reserves
Core		8,413		(86	)		509		8,836
Funds		13,660		(11,184	)		1,263		3,739
Total		22,073		(11,270	)		1,772		12,575
Rent Abatements
Core		1,616		—			868		2,484
Funds		419		(381	)		56		94
Total		2,035		(381	)		924		2,578
Impairment charges
Core		419		—			—		419
Funds		85,179		(65,004	)		—		20,175
Total		85,598		(65,004	)		—		20,594
COVID Earnings Impact
Core		23,318		(123	)		2,941		26,136
Funds		111,159		(86,538	)		2,336		26,957
Total	$	134,477	$	(86,661	)	$	5,277	$	53,093