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Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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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-contribut ed to Fund II in April 202 0. 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 |

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