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v3.23.3

Variable Interest Entities - Schedule of Assets and Liabilities Included in Consolidated Balance Sheets (Parenthetical) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | [1]
--- | --- | --- | --- | ---
Variable Interest Entity [Line Items] |  |  |  |  |  |
Maximum borrowing capacity |  | $ 900,000 |  |  |  |
Unconsolidated VIEs assets |  | 4,280,778 | [1],[2] | $ 4,302,582 | [2] | $ 4,363,498
Amount of liability guaranteed | [2] | 2,101,256 |  | 2,053,722 |  |
VIE |  |  |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |  |  |
Unconsolidated VIEs assets | [3] | 1,902,605 |  | 1,954,641 |  |
Amount of liability guaranteed | [3] | 940,352 |  | 910,410 |  |
VIE | City Point |  |  |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |  |  |
Maximum borrowing capacity |  | 72,500 |  |  |  |
Unconsolidated VIEs assets |  | 670,500 |  | 678,100 |  |
VIE | City Point | Recourse |  |  |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |  |  |
Amount of liability guaranteed |  | $ 206,000 |  | $ 200,400 |  |
[1] | Real estate at cost and total assets for the Funds segment include $670.1 million and $661.7 million, or $423.8 million and $418.5 million net of noncontrolling interests, related to Fund II’s City Point property at September 30, 2023 and 2022, respectively.
[2] | Represents the consolidated assets and liabilities of Acadia Realty Limited Partnership (the "Operating Partnership"), which is a consolidated variable interest entity ("VIE") (Note 15). The consolidated balance sheets include the following amounts related to our consolidated VIEs that are consolidated by the Operating Partnership: $1,636.8 million and $1,466.4 million of Operating real estate, net; $28.1 million and $129.9 million of Real estate under development; $100.5 million and $210.9 million of Investments in and advances to unconsolidated affiliates; $97.4 million and $98.7 million of Other assets, net; $2.2 million and $2.5 million of Right-of-use assets - operating leases, net; $10.5 million and $13.3 million of Cash and cash equivalents; $7.4 million and $15.0 million of Restricted cash; $19.7 million and $17.9 million of Rents receivable, net; $795.6 million and $761.2 million of Mortgage and other notes payable, net; $20.3 million and $51.2 million of Unsecured notes payable, net; $122.2 million and $95.4 million of Accounts payable and other liabilities; $2.3 million and $2.7 million of Lease liability- operating leases, net as of September 30, 2023 and December 31, 2022, respectively.
[3] | At September 30, 2023 and December 31, 2022, includes total VIE assets of $670.5 million and $678.1 million, respectively, and total VIE liabilities of $206.0 million and $200.4 million, respectively, related to third-party mortgages that are collateralized by the real estate assets of City Point, a Fund II property, and 27 East 61st Street, 801 Madison Avenue, and 1035 Third Avenue, all Fund IV properties, of which $72.5 million is guaranteed by the Operating Partnership (Note 9). The remaining VIE assets are generally encumbered by third-party non-recourse mortgage debt and are collateral under the respective mortgages and are therefore restricted and can only be used to settle the corresponding liabilities of the VIE. The remaining VIE assets may only be used to settle obligations of these consolidated VIEs and the remaining VIE liabilities are only the obligations of these consolidated VIEs and they do not have recourse to the Operating Partnership or the Company.

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