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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Summary of Segment Information

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


		As of or for the Three Months Ended March 31, 2024
		Core Portfolio				Funds				Structured Financing				Unallocated				Total
Total Revenues		$	53,538			$	37,818			$	—			$	—			$	91,356
Depreciation and amortization expenses			(18,267	)			(16,673	)			—				—				(34,940	)
General and administrative expenses			—				—				—				(9,768	)			(9,768	)
Property operating expenses, other operating and real estate taxes			(17,919	)			(13,523	)			—				—				(31,442	)
Loss related to a previously disposed property			—				(1,198	)			—				—				(1,198	)
Operating income			17,352				6,424				—				(9,768	)			14,008
Equity in earnings (losses) of unconsolidated affiliates			2,107				(2,419	)			—				—				(312	)
Interest income			—				—				5,238				—				5,238
Realized and unrealized holding (losses) gains on investments and other			(1,862	)			—				(189	)			—				(2,051	)
Interest expense			(10,037	)			(13,672	)			—				—				(23,709	)
Income (loss) from continuing operations before income taxes			7,560				(9,667	)			5,049				(9,768	)			(6,826	)
Income tax provision			—				—				—				(31	)			(31	)
Net income (loss)			7,560				(9,667	)			5,049				(9,799	)			(6,857	)
Net loss attributable to redeemable noncontrolling interests			—				2,554				—				—				2,554
Net (income) loss attributable to noncontrolling interests			(366	)			7,938				—				—				7,572
Net income attributable to Acadia shareholders		$	7,194			$	825			$	5,049			$	(9,799	)		$	3,269

Real estate at cost (a)		$	2,652,732			$	1,798,288			$	—			$	—			$	4,451,020
Total assets (a)		$	2,564,745			$	1,588,160			$	118,877			$	—			$	4,271,782
Cash paid for development and property improvement costs		$	8,079			$	4,696			$	—			$	—			$	12,775


		As of or for the Three Months Ended March 31, 2023
		Core Portfolio				Funds				Structured Financing				Unallocated				Total
Total Revenues		$	49,796			$	32,043			$	—			$	—			$	81,839
Depreciation and amortization expenses			(18,659	)			(14,514	)			—				—				(33,173	)
General and administrative expenses			—				—				—				(9,946	)			(9,946	)
Property operating expenses, other operating and real estate taxes			(16,109	)			(10,503	)			—				—				(26,612	)
Operating income			15,028				7,026				—				(9,946	)			12,108
Equity in earnings (losses) of unconsolidated affiliates			1,800				(1,771	)			—				—				29
Interest income			—				—				4,818				—				4,818
Realized and unrealized holding gains on investments and other			1,482				24,995				280				—				26,757
Interest expense			(10,670	)			(10,917	)			—				—				(21,587	)
Income (loss) from continuing operations before income taxes			7,640				19,333				5,098				(9,946	)			22,125
Income tax provision			—				—				—				(123	)			(123	)
Net income			7,640				19,333				5,098				(10,069	)			22,002
Net loss attributable to redeemable noncontrolling interests			—				2,075				—				—				2,075
Net income attributable to noncontrolling interests			(923	)			(9,794	)			—				—				(10,717	)
Net income attributable to Acadia shareholders		$	6,717			$	11,614			$	5,098			$	(10,069	)		$	13,360

Real estate at cost (a)		$	2,604,244			$	1,664,665			$	—			$	—			$	4,268,909
Total assets (a)		$	2,568,946			$	1,501,297			$	123,967			$	—			$	4,194,210
Cash paid for development and property improvement costs		$	6,686			$	5,843			$	—			$	—			$	12,529

Total assets for the Funds segment include $553.4 million and $670.8 million related to Fund II’s City Point property as of March 31, 2024 and 2023, respectively.