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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Summary of Segment Information

The following tables set forth certain segment information for the Company (in thousands):


		For the Three Months Ended June 30, 2023
		Core Portfolio				Funds				Structured Financing				Unallocated				Total
Revenues		$	56,376			$	33,572			$	—			$	—			$	89,948
Depreciation and amortization			(20,035	)			(14,021	)			—				—				(34,056	)
Property operating expenses and real estate taxes			(15,055	)			(10,536	)			—				—				(25,591	)
General and administrative expenses			—				—				—				(10,643	)			(10,643	)
Impairment charges			—				—				—				—				—
Gain on disposition of properties			—				—				—				—				-
Operating income			21,286				9,015				—				(10,643	)			19,658
Interest and other income			—				—				4,970				—				4,970
Realized and unrealized holding gains on investments and other			1,815				—				—				—				1,815
Equity in earnings (losses) of unconsolidated affiliates			924				(2,361	)			—				—				(1,437	)
Interest expense			(10,990	)			(11,099	)			—				—				(22,089	)
Income tax provision			—				—				—				(165	)			(165	)
Net income (loss)			13,035				(4,445	)			4,970				(10,808	)			2,752
Net loss attributable to redeemable noncontrolling interests			—				1,091				—				—				1,091
Net (income) loss attributable to noncontrolling interests			(735	)			6,168				—				—				5,433
Net income attributable to Acadia		$	12,300			$	2,814			$	4,970			$	(10,808	)		$	9,276


		For the Three Months Ended June 30, 2022
		Core Portfolio				Funds				Structured Financing				Unallocated				Total
Revenues		$	53,225			$	31,034			$	—			$	—			$	84,259
Depreciation and amortization			(20,061	)			(14,910	)			—				—				(34,971	)
Property operating expenses and real estate taxes			(14,932	)			(10,263	)			—				—				(25,195	)
General and administrative expenses			—				—				—				(10,661	)			(10,661	)
Gain on disposition of properties			—				12,216				—				—				12,216
Operating income			18,232				18,077				—				(10,661	)			25,648
Interest and other income			—				—				2,961				—				2,961
Realized and unrealized holding (losses) gains on investments and other			—				(26,383	)			100				—				(26,283	)
Equity in earnings of unconsolidated affiliates			788				492				—				—				1,280
Interest expense			(8,519	)			(10,703	)			—				—				(19,222	)
Income tax provision			—				—				—				(209	)			(209	)
Net income (loss)			10,501				(18,517	)			3,061				(10,870	)			(15,825	)
Net (income) loss attributable to noncontrolling interests			(366	)			15,817				—				—				15,451
Net income (loss) attributable to Acadia		$	10,135			$	(2,700	)		$	3,061			$	(10,870	)		$	(374	)


		As of or for the Six Months Ended June 30, 2023
		Core Portfolio				Funds				Structured Financing				Unallocated				Total
Revenues		$	106,172			$	65,615			$	—			$	—			$	171,787
Depreciation and amortization			(38,694	)			(28,535	)			—				—				(67,229	)
Property operating expenses and real estate taxes			(31,164	)			(21,039	)			—				—				(52,203	)
General and administrative expenses			—				—				—				(20,589	)			(20,589	)
Operating income			36,314				16,041				—				(20,589	)			31,766
Interest and other income			—				—				9,788				—				9,788
Realized and unrealized holding gains on investments and other			3,393				24,995				184				—				28,572
Equity in earnings (losses) of unconsolidated affiliates			2,723				(4,131	)			—				—				(1,408	)
Interest expense			(21,660	)			(22,016	)			—				—				(43,676	)
Income tax provision			—				—				—				(288	)			(288	)
Net income			20,770				14,889				9,972				(20,877	)			24,754
Net loss attributable to redeemable noncontrolling interests			—				3,166				—				—				3,166
Net income attributable to noncontrolling interests			(1,637	)			(3,647	)			—				—				(5,284	)
Net income attributable to Acadia		$	19,133			$	14,408			$	9,972			$	(20,877	)		$	22,636

Real estate at cost (a)		$	2,613,206			$	1,669,773			$	—			$	—			$	4,282,979
Total assets (a)		$	2,580,565			$	1,499,692			$	123,902			$	—			$	4,204,159
Cash paid for acquisition of real estate		$	—			$	—			$	—			$	—			$	—
Cash paid for development and property improvement costs		$	15,560			$	15,010			$	—			$	—			$	30,570


		As of or for the Six Months Ended June 30, 2022
		Core Portfolio				Funds				Structured Financing				Unallocated				Total
Revenues		$	101,574			$	64,192			$	—			$	—			$	165,766
Depreciation and amortization			(37,736	)			(30,948	)			—				—				(68,684	)
Property operating expenses and real estate taxes			(29,572	)			(20,253	)			—				—				(49,825	)
General and administrative expenses			—				—				—				(22,598	)			(22,598	)
Gain on disposition of properties			—				41,031				—				—				41,031
Operating income			34,266				54,022				—				(22,598	)			65,690
Interest and other income			—				—				5,896				—				5,896
Realized and unrealized holding gains (losses) on investments and other			1,163				(11,816	)			100				—				(10,553	)
Equity in earnings of unconsolidated affiliates			2,405				2,005				—				—				4,410
Interest expense			(16,115	)			(21,032	)			—				—				(37,147	)
Income tax provision			—				—				—				(24	)			(24	)
Net income			21,719				23,179				5,996				(22,622	)			28,272
Net income attributable to noncontrolling interests			(1,486	)			(10,322	)			—				—				(11,808	)
Net income attributable to Acadia		$	20,233			$	12,857			$	5,996			$	(22,622	)		$	16,464

Real estate at cost (a)		$	2,606,083			$	1,729,074			$	—			$	—			$	4,335,157
Total assets (a)		$	2,513,011			$	1,788,567			$	137,306			$	—			$	4,438,884
Cash paid for acquisition of real estate		$	242,633			$	—			$	—			$	—			$	242,633
Cash paid for development and property improvement costs		$	16,248			$	9,033			$	—			$	—			$	25,281

Real estate at cost and total assets for the Funds segment include $672.7 million and $660.0 million, or $275.9 million and $270.7 million net of noncontrolling interests, related to Fund II’s City Point property at June 30, 2023 and 2022, respectively.