XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.23.2

Real Estate | 6 Months Ended
--- | ---
Jun. 30, 2023
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract] |
Real Estate | 2. Rea l Estate The Company’s consolidated real estate is comprised of the following for the periods presented (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Land |  | $ | 881,717 |  |  | $ | 817,802 |
Buildings and improvements |  |  | 2,997,760 |  |  |  | 2,987,594 |
Tenant improvements |  |  | 239,305 |  |  |  | 216,899 |
Construction in progress |  |  | 16,836 |  |  |  | 21,027 |
Right-of-use assets - finance leases (Note 11) |  |  | 25,086 |  |  |  | 25,086 |
Total |  |  | 4,160,704 |  |  |  | 4,068,408 |
Less: Accumulated depreciation and amortization |  |  | (774,128 | ) |  |  | (725,143 | )
Operating real estate, net |  |  | 3,386,576 |  |  |  | 3,343,265 |
Real estate under development |  |  | 122,275 |  |  |  | 184,602 |
Net investments in real estate |  | $ | 3,508,851 |  |  | $ | 3,527,867 |
Acquisitions and Dispositions During the six months ended June 30, 2023 the Company did not acquire or dispose of any consolidated retail properties and other real estate investments. Properties Held for Sale At June 30, 2023, the Company had one property under contract for sale with assets totaling $11.1 million, which was probable of disposition. The property was classified as "held for sale" on the Company's consolidated balance sheets at June 30, 2023 and December 31, 2022. The Company has received $3.3 million of non-refundable deposits under the sales contract, which is recorded in Other liabilities on the Company's consolidated balance sheets. Assets of the held for sale property consisted of the following:
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Assets |  |  |  |  |  |
Buildings and improvements |  | $ | 12,562 |  |  | $ | 12,562 |
Land |  |  | 3,380 |  |  |  | 3,380 |
Tenant improvements |  |  | 1,010 |  |  |  | 1,010 |
Less: Accumulated depreciation and amortization |  |  | (5,895 | ) |  |  | (5,895 | )
|  | $ | 11,057 |  |  | $ | 11,057 |
Real Estate Under Development and Construction in Progress Real estate under development represents the Company’s consolidated properties that have not yet been placed into service while undergoing substantial development or construction. Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands):
|  | January 1, 2023 |  |  | Six Months Ended June 30, 2023 |  |  | June 30, 2023 |
|  | Number of Properties |  |  | Carrying Value |  |  | Transfers In |  |  | Capitalized Costs |  |  | Transfers Out |  |  | Number of Properties |  |  | Carrying Value |
Core |  |  | 2 |  |  | $ | 54,817 |  |  | $ | — |  |  | $ | 4,280 |  |  | $ | — |  |  |  | 2 |  |  | $ | 59,097 |
Fund II |  |  | — |  |  |  | 34,072 |  |  |  | — |  |  |  | 1,813 |  |  |  | — |  |  |  | — |  |  |  | 35,885 |
Fund III |  |  | 1 |  |  |  | 25,798 |  |  |  | — |  |  |  | 1,494 |  |  |  | — |  |  |  | 1 |  |  |  | 27,293 |
Fund IV (a) |  |  | 1 |  |  |  | 69,915 |  |  |  | — |  |  |  | — |  |  |  | 69,915 |  |  |  | — |  |  |  | — |
Total |  |  | 4 |  |  | $ | 184,602 |  |  | $ | — |  |  | $ | 7,587 |  |  | $ | 69,915 |  |  |  | 3 |  |  | $ | 122,275 |
a) Transfers out include $69.9 million related to one Fund IV property that was transferred out of development. The number of properties in the tables above refers to projects comprising the entire property under development; however, certain projects represent a portion of a property. At June 30, 2023, consolidated development projects included: portions of the Henderson 1 & 2 Portfolio for the Core Portfolio and Broad Hollow Commons at Fund III. In addition, at June 30, 2023, the Company had one Core unconsolidated development project, 1238 Wisconsin Avenue (Note 4). During the six months ended June 30, 2023, the Company placed $69.9 million related to the remainder of one Fund IV, 717 N. Michigan Avenue, into service. Construction in progress pertains to construction activity at the Company’s operating properties that are in service and continue to operate during the construction period.

X
- Definition Acquisition and disposition of properties and discontinued operations. + References No definition available. + Details
Name: | akr_AcquisitionAndDispositionOfPropertiesAndDiscontinuedOperationsAbstract
Namespace Prefix: | akr_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI https://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI https://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI https://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI https://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI https://asc.fasb.org/topic&trid=2134617 + Details
Name: | us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration