SEC Info - Acadia Realty Trust - ‘10-Q’ for 6/30/22

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Acadia Realty Trust – ‘10-Q’ for 6/30/22 – ‘R32’

On: Friday, 8/5/22, at 5:07pm ET · For: 6/30/22 · Accession #: 950170-22-15152 · File #: 1-12002

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/05/22  Acadia Realty Trust               10-Q        6/30/22  118:32M                                    Donnelley … Solutions/FA

Quarterly Report — Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   8.03M 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     40K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     40K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     37K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     37K 
11: R1          Document and Entity Information                     HTML     89K 
12: R2          Consolidated Balance Sheets                         HTML    145K 
13: R3          Consolidated Balance Sheets (Parenthetical)         HTML     43K 
14: R4          Consolidated Statements of Operations               HTML    101K 
15: R5          Consolidated Statements of Comprehensive Income     HTML     67K 
                (Loss)                                                           
16: R6          Consolidated Statements of Changes in               HTML    118K 
                Shareholders' Equity                                             
17: R7          Consolidated Statements of Changes in               HTML     37K 
                Shareholders' Equity (Parenthetical)                             
18: R8          Consolidated Statements of Cash Flows               HTML    192K 
19: R9          Consolidated Statements of Cash Flows               HTML     44K 
                (Parenthetical)                                                  
20: R10         Organization, Basis of Presentation and Summary of  HTML    135K 
                Significant Accounting Policies                                  
21: R11         Real Estate                                         HTML    570K 
22: R12         Notes Receivable, Net                               HTML    129K 
23: R13         Investments in and Advances to Unconsolidated       HTML    424K 
                Affiliates                                                       
24: R14         Other Assets, Net and Accounts Payable and Other    HTML    144K 
                Liabilities                                                      
25: R15         Lease Intangibles                                   HTML    221K 
26: R16         Debt                                                HTML    373K 
27: R17         Financial Instruments and Fair Value Measurements   HTML    489K 
28: R18         Commitments and Contingencies                       HTML     43K 
29: R19         Shareholders' Equity, Noncontrolling Interests and  HTML    472K 
                Other Comprehensive Loss                                         
30: R20         Leases                                              HTML    251K 
31: R21         Segment Reporting                                   HTML    668K 
32: R22         Share Incentive and Other Compensation              HTML    155K 
33: R23         Earnings Per Common Share                           HTML    187K 
34: R24         Subsequent Events                                   HTML     54K 
35: R25         Organization, Basis of Presentation and Summary of  HTML     81K 
                Significant Accounting Policies (Policies)                       
36: R26         Organization, Basis of Presentation and Summary of  HTML    100K 
                Significant Accounting Policies (Tables)                         
37: R27         Real Estate (Tables)                                HTML    562K 
38: R28         Notes Receivable, Net (Tables)                      HTML     98K 
39: R29         Investments in and Advances to Unconsolidated       HTML    398K 
                Affiliates (Tables)                                              
40: R30         Other Assets, Net and Accounts Payable and Other    HTML    143K 
                Liabilities (Tables)                                             
41: R31         Lease Intangibles (Tables)                          HTML    201K 
42: R32         Debt (Tables)                                       HTML    292K 
43: R33         Financial Instruments and Fair Value Measurements   HTML    475K 
                (Tables)                                                         
44: R34         Shareholders' Equity, Noncontrolling Interests and  HTML    435K 
                Other Comprehensive Loss (Tables)                                
45: R35         Leases (Tables)                                     HTML    232K 
46: R36         Segment Reporting (Tables)                          HTML    663K 
47: R37         Share Incentive and Other Compensation (Tables)     HTML    108K 
48: R38         Earnings Per Common Share (Tables)                  HTML    182K 
49: R39         Organization, Basis of Presentation and Summary of  HTML     61K 
                Significant Accounting Policies - Additional                     
                Information (Details)                                            
50: R40         Organization, Basis of Presentation and Summary of  HTML     62K 
                Significant Accounting Policies - Schedule of                    
                Operating Partnership's Equity Interest (Details)                
51: R41         Organization, Basis of Presentation and Summary of  HTML     56K 
                Significant Accounting Policies - Schedule of                    
                Operating Partnership's Equity Interest                          
                (Parenthetical) (Details)                                        
52: R42         Real Estate - Schedule of Real Estate (Details)     HTML     57K 
53: R43         Real Estate - Schedule of Acquisitions and          HTML     91K 
                Conversions (Details)                                            
54: R44         Real Estate - Schedule of Acquisitions and          HTML     54K 
                Conversions (Parenthetical) (Details)                            
55: R45         Real Estate - Acquisitions and Conversions -        HTML     49K 
                Additional Information (Details)                                 
56: R46         Real Estate - Schedule of Purchase Price            HTML     71K 
                Allocations (Details)                                            
57: R47         Real Estate - Schedule of Property Dispositions     HTML     77K 
                (Details)                                                        
58: R48         Real Estate - Schedule of Property Dispositions     HTML     41K 
                (Details) (Parenthetical)                                        
59: R49         Real Estate - Schedule of Disposal Groups,          HTML     55K 
                Including Discontinued Operations, Income                        
                Statement, Balance Sheet and Additional                          
                Disclosures (Details)                                            
60: R50         Real Estate - Schedule of Development in Process    HTML     71K 
                Activities (Details)                                             
61: R51         Real Estate - Schedule of Development in Process    HTML     43K 
                Activities (Parenthetical) (Details)                             
62: R52         Real Estate - Real Estate Under Development and     HTML     49K 
                Construction in Progress - Additional Information                
                (Details)                                                        
63: R53         Notes Receivable, Net - Schedule of Notes           HTML     66K 
                Receivable (Details)                                             
64: R54         Notes Receivable, Net - Schedule of Notes           HTML     47K 
                Receivable (Parenthetical) (Details)                             
65: R55         Notes Receivable, Net - Additional Information      HTML    107K 
                (Details)                                                        
66: R56         Investments in and Advances to Unconsolidated       HTML    106K 
                Affiliates - Schedule of Investments (Details)                   
67: R57         Investments in and Advances to Unconsolidated       HTML     56K 
                Affiliates - Core Portfolio - Additional                         
                Information (Details)                                            
68: R58         Investments in and Advances to Unconsolidated       HTML     40K 
                Affiliates - Mervyns II - Additional Information                 
                (Details)                                                        
69: R59         Investments in and Advances to Unconsolidated       HTML     68K 
                Affiliates - Fund Investments - Additional                       
                Information (Details)                                            
70: R60         Investments in and Advances to Unconsolidated       HTML     44K 
                Affiliates - Unconsolidated Affiliates -                         
                Additional Information (Details)                                 
71: R61         Investments in and Advances to Unconsolidated       HTML     86K 
                Affiliates - Unconsolidated Affiliates - Schedule                
                of Condensed Balance Sheet (Details)                             
72: R62         Investments in and Advances to Unconsolidated       HTML     83K 
                Affiliates - Unconsolidated Affiliates - Schedule                
                of Condensed Income Statement (Details)                          
73: R63         Investments in and Advances to Unconsolidated       HTML     36K 
                Affiliates - Unconsolidated Affiliates - Schedule                
                of Condensed Income Statement (Parenthetical)                    
                (Details)                                                        
74: R64         Other Assets, Net and Accounts Payable and Other    HTML     96K 
                Liabilities - Schedule of other assets and other                 
                liabilities (Details)                                            
75: R65         Lease Intangibles - Schedule of Intangible Assets   HTML     66K 
                and Liabilities Included in Other Assets and                     
                Accounts Payable and Other Liabilities (Details)                 
76: R66         Lease Intangibles - Additional Information          HTML     60K 
                (Details)                                                        
77: R67         Lease Intangibles - Scheduled Amortization of       HTML     95K 
                Acquired Lease Intangible Assets and Assumed                     
                Liabilities (Details)                                            
78: R68         Debt - Summary of Consolidated Indebtedness         HTML    181K 
                (Details)                                                        
79: R69         Debt - Summary of Consolidated Indebtedness         HTML     89K 
                (Parenthetical) (Details)                                        
80: R70         Debt - Credit Facility - Additional Information     HTML     56K 
                (Details)                                                        
81: R71         Debt - Mortgages and Other Notes Payable -          HTML    153K 
                Additional Information (Details)                                 
82: R72         Debt - Unsecured Notes Payable - Additional         HTML     81K 
                Information (Details)                                            
83: R73         Debt - Unsecured Revolving Lines of Credit -        HTML     47K 
                Additional Information (Details)                                 
84: R74         Debt - Scheduled Principal Repayments (Details)     HTML     62K 
85: R75         Debt - Scheduled Principal Repayments - Additional  HTML     52K 
                Information (Details)                                            
86: R76         Financial Instruments and Fair Value Measurements   HTML     58K 
                - Schedule of Assets and Liabilities Measured at                 
                Fair Value on Recurring Basis (Details)                          
87: R77         Financial Instruments and Fair Value Measurements   HTML     51K 
                - Schedule of Items Measured at Fair Value on                    
                Nonrecurring Basis (Details)                                     
88: R78         Financial Instruments and Fair Value Measurements   HTML     96K 
                - Schedule of Derivative Financial Instruments                   
                (Details)                                                        
89: R79         Financial Instruments and Fair Value Measurements   HTML     55K 
                - Additional Information (Details)                               
90: R80         Financial Instruments and Fair Value Measurements   HTML     60K 
                - Schedule of Other Financial Instruments Carrying               
                Values and Fair values (Details)                                 
91: R81         Commitments and Contingencies - Additional          HTML     38K 
                Information (Details)                                            
92: R82         Shareholders' Equity, Noncontrolling Interests and  HTML     43K 
                Other Comprehensive Loss - Common Shares and Units               
                - Additional Information (Details)                               
93: R83         Shareholders' Equity, Noncontrolling Interests and  HTML     56K 
                Other Comprehensive Loss - ATM Program -                         
                Additional Information (Details)                                 
94: R84         Shareholders' Equity, Noncontrolling Interests and  HTML     42K 
                Other Comprehensive Loss - Share Repurchases -                   
                Additional Information (Details)                                 
95: R85         Shareholders' Equity, Noncontrolling Interests and  HTML     64K 
                Other Comprehensive Loss - Schedule of                           
                Distributions Declared and paid (Details)                        
96: R86         Shareholders' Equity, Noncontrolling Interests and  HTML     65K 
                Other Comprehensive Loss - Summary of Activity in                
                Accumulated Other Comprehensive Income (Loss)                    
                (Details)                                                        
97: R87         Shareholders' Equity, Noncontrolling Interests and  HTML    110K 
                Other Comprehensive Loss - Summary of Change in                  
                Noncontrolling Interest (Details)                                
98: R88         Shareholders' Equity, Noncontrolling Interests and  HTML     63K 
                Other Comprehensive Loss - Summary of Change in                  
                Noncontrolling Interest (Parenthetical) (Details)                
99: R89         Shareholders' Equity, Noncontrolling Interests and  HTML     82K 
                Other Comprehensive Loss - Preferred OP Units -                  
                Additional Information (Details)                                 
100: R90         Leases - Additional Information (Details)           HTML     83K  
101: R91         Leases - Activity for Reserves Related to Billed    HTML     47K  
                Rents and Straight-line Rents (Details)                          
102: R92         Leases - Schedule of Lease Cost (Details)           HTML     59K  
103: R93         Leases - Schedule of Future Minimum Rental          HTML     89K  
                Revenues and Payments for Operating and Capital                  
                Leases (Details)                                                 
104: R94         Segment Reporting - Additional Information          HTML     36K  
                (Details)                                                        
105: R95         Segment Reporting - Summary of Segment Information  HTML    175K  
                (Details)                                                        
106: R96         Segment Reporting - Summary of Segment Information  HTML     59K  
                (Parenthetical) (Details)                                        
107: R97         Share Incentive and Other Compensation -            HTML    140K  
                Additional Information (Details)                                 
108: R98         Share Incentive and Other Compensation - Schedule   HTML     67K  
                of Unvested Shares and LTIP Units (Details)                      
109: R99         Share Incentive and Other Compensation - Employee   HTML     44K  
                Share Purchase Plan and Deferred Share Plan -                    
                Additional Information (Details)                                 
110: R100        Share Incentive and Other Compensation - Employee   HTML     44K  
                401 (k) Plan - Additional Information (Details)                  
111: R101        Earnings Per Common Share - Additional Information  HTML     39K  
                (Details)                                                        
112: R102        Earnings Per Common Share - Schedule of Earnings    HTML     79K  
                Per Share, Basic and Diluted (Details)                           
113: R103        Subsequent Events - Additional Information          HTML    133K  
                (Details)                                                        
116: XML         IDEA XML File -- Filing Summary                      XML    234K  
114: XML         XBRL Instance -- akr-20220630_htm                    XML  10.32M  
115: EXCEL       IDEA Workbook of Financial Reports                  XLSX    284K  
 6: EX-101.CAL  XBRL Calculations -- akr-20220630_cal                XML    352K 
 8: EX-101.DEF  XBRL Definitions -- akr-20220630_def                 XML   1.83M 
 9: EX-101.LAB  XBRL Labels -- akr-20220630_lab                      XML   2.73M 
10: EX-101.PRE  XBRL Presentations -- akr-20220630_pre               XML   2.37M 
 7: EX-101.SCH  XBRL Schema -- akr-20220630                          XSD    447K 
117: JSON        XBRL Instance as JSON Data -- MetaLinks              708±  1.23M  
118: ZIP         XBRL Zipped Folder -- 0000950170-22-015152-xbrl      Zip    760K

‘R32’ — Debt (Tables)

This is an IDEA Financial Report. [ Alternative Formats ]

Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Summary of Consolidated Indebtedness

A summary of the Company’s consolidated indebtedness is as follows (dollars in thousands):


	Interest Rate at			Carrying Value at
	June 30,	December 31,	Maturity Date at	June 30,	December 31,
	2022	2021	June 30, 2022	2022	2021
Mortgages Payable
Core Fixed Rate	3.88%-5.89%	3.88%-5.89%	Feb 2024 - Apr 2035	$144,250	$145,464
Core Variable Rate - Swapped (a)	3.41%-4.54%	3.41%-4.54%	Jun 2026 - Nov 2028	60,460	72,957
Total Core Mortgages Payable				204,710	218,421
Fund II Variable Rate	LIBOR+2.75% - PRIME+2.00%	LIBOR+2.75% - PRIME+2.00%	Aug 2022 - Mar 2023	256,468	255,978
Fund III Variable Rate	LIBOR+3.10%	LIBOR+2.75%	Jul 2022	35,970	34,728
Fund IV Fixed Rate	4.50%	4.50%	Oct 2025	1,120	1,120
Fund IV Variable Rate	LIBOR+1.75%-LIBOR+3.65%	LIBOR+1.60%-LIBOR+3.65%	Aug 2022 - Jun 2026	181,380	221,832
Fund IV Variable Rate - Swapped (a)		3.48%-4.61%		—	23,316
Total Fund IV Mortgages and Other Notes Payable				182,500	246,268
Fund V Fixed Rate	3.35%	3.35%	May 2023	31,801	31,801
Fund V Variable Rate	LIBOR + 1.85% - SOFR + 2.76%	LIBOR + 1.85% - SOFR + 2.76%	Jun 2023 - Nov 2026	58,452	58,878
Fund V Variable Rate - Swapped (a)	2.43%-4.78%	2.43%-4.78%	Jan 2023 - Apr 2025	338,110	297,731
Total Fund V Mortgages Payable				428,363	388,410
Net unamortized debt issuance costs				(4,050)	(3,958)
Unamortized premium				394	446
Total Mortgages Payable				$1,104,355	$1,140,293
Unsecured Notes Payable
Core Variable Rate Unsecured Term Loans - Swapped (a)	3.65%-5.32%	3.65%-5.32%	Apr 2027	$575,000	$400,000
Fund II Unsecured Notes Payable	LIBOR+2.25%	LIBOR+2.25%	Sep 2022	40,000	40,000
Fund IV Subscription Facility	SOFR+2.01%	SOFR+2.01%	Dec 2022	—	5,000
Fund V Subscription Facility	LIBOR+1.90%	LIBOR+1.90%	May 2023	3,303	118,028

Net unamortized debt issuance costs				(4,919)	(3,988)
Total Unsecured Notes Payable				$613,384	$559,040
Unsecured Line of Credit
Core Unsecured Line of Credit - Variable Rate	LIBOR + 1.40%	LIBOR + 1.40%	Jun 2025	$80,192	$46,491
Core Unsecured Line of Credit -Swapped (a)	3.65%-5.32%	3.65%-5.32%	Jun 2025	16,295	66,414
Total Unsecured Line of Credit				$96,487	$112,905

Total Debt - Fixed Rate (b)				$1,167,036	$1,038,803
Total Debt - Variable Rate (c)				655,765	780,935
Total Debt				1,822,801	1,819,738
Net unamortized debt issuance costs				(8,969)	(7,946)
Unamortized premium				394	446
Total Indebtedness				$1,814,226	$1,812,238

At June 30, 2022, the stated rates ranged from LIBOR + 1.50% to LIBOR +1.70% for Core variable-rate debt; LIBOR + 2.75% to PRIME + 2.00% for Fund II variable-rate debt; LIBOR + 3.10% for Fund III variable-rate debt; LIBOR 1.75% to LIBOR + 3.65% for Fund IV variable-rate debt; LIBOR + 1.50% to SOFR + 2.50% for Fund V variable-rate debt; LIBOR + 1.55% to SOFR + 1.60% for Core variable-rate unsecured term loans; and LIBOR + 1.40% for Core variable-rate unsecured lines of credit.

Includes $989.9 million and $860.4 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented.

Includes $107.3 million and $110.5 million, respectively, of variable-rate debt that is subject to interest cap agreements.

Scheduled Principal Repayments

The scheduled principal repayments, without regard to available extension options (described further below), of the Company’s consolidated indebtedness, as of June 30, 2022 are as follows (in thousands):


Year Ending December 31,
2022 (Remainder)	$	430,916
2023		238,792
2024		212,128
2025		204,220
2026		445,975
Thereafter		290,770
		1,822,801
Unamortized premium		394
Net unamortized debt issuance costs		(8,969	)
Total indebtedness	$	1,814,226

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-Q’ Filing	Date	Other Filings

	12/31/22
Filed on:	8/5/22	8-K
For Period end:	6/30/22
		List all Filings

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Filing Submission 0000950170-22-015152 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)