XML 39 R30.htm IDEA: XBRL DOCUMENT
v3.25.2

Real Estate (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract] |
Schedule of Consolidated Real Estate | The Company’s consolidated real estate is comprised of the following for the periods presented (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Buildings and improvements |  | $ | 3,398,124 |  |  | $ | 3,174,250 |
Tenant improvements |  |  | 326,565 |  |  |  | 304,645 |
Land |  |  | 1,127,913 |  |  |  | 906,031 |
Construction in progress |  |  | 29,477 |  |  |  | 23,704 |
Right-of-use assets - finance leases (Note 11) |  |  | 61,366 |  |  |  | 61,366 |
Total |  |  | 4,943,445 |  |  |  | 4,469,996 |
Less: Accumulated depreciation and amortization |  |  | (980,639 | ) |  |  | (926,022 | )
Operating real estate, net |  |  | 3,962,806 |  |  |  | 3,543,974 |
Real estate under development |  |  | 153,196 |  |  |  | 129,619 |
Net investments in real estate |  | $ | 4,116,002 |  |  | $ | 3,673,593 |
Schedule of Business Acquisitions, by Acquisition | During the six months ended June 30, 2025, the Company acquired the following retail properties and other retail investments (dollars in thousands):
Property and Location |  | Percent Acquired |  | Date of Acquisition |  | Purchase Price (a) |
2025 Acquisitions |  |  |  |  |  |  |
Core |  |  |  |  |  |  |
106 Spring Street - New York, NY |  | 100% |  | January 9, 2025 |  | $ | 55,137 |
73 Wooster Street - New York, NY |  | 100% |  | January 9, 2025 |  |  | 25,459 |
Renaissance Portfolio - Washington, D.C. (b) |  | 48% |  | January 23, 2025 |  |  | 245,700 |
95, 97, and 107 North 6th Street - Brooklyn, NY |  | 100% |  | April 9, 2025 |  |  | 59,668 |
85 5th Avenue - New York, NY |  | 100% |  | April 11, 2025 |  |  | 47,014 |
70 and 93 North 6th Street - Brooklyn, NY |  | 100% |  | June 4, 2025 |  |  | 50,323 |
Subtotal Core |  |  |  |  |  |  | 483,301 |
Investment Management |  |  |  |  |  |  |
Pinewood Square - Lake Worth, FL |  | 100% |  | March 19, 2025 |  |  | 68,207 |
Total 2025 Acquisitions |  |  |  |  |  | $ | 551,508 |
(a) Purchase price includes capitalized transaction costs of $2.1 million. (b) On January 23, 2025, the Company acquired an additional 48% economic ownership interest, and increased its existing 20% interest to 68%, in the Renaissance Portfolio primarily located in Washington D.C. The 48% interest was acquired for a purchase price of $117.9 million, based upon a gross portfolio fair value of $245.7 million, which included existing mortgage loan indebtedness of $156.1 million in aggregate (Note 7). Prior to the acquisition, the Company accounted for its 20% interest under the equity method of accounting (Note 4). Due to the Company gaining a controlling financial interest as a result of this acquisition, the Company determined it should consolidate its investment within its Core Portfolio effective January 23, 2025. As such, the Company measured and recognized 100% of the identifiable assets acquired, the liabilities assumed and any noncontrolling interests of the Renaissance Portfolio, at fair value and recognized a $9.6 million loss on change in control representing the difference between the carrying value and fair value of its existing equity method interest immediately before consolidation of the portfolio in its Condensed Consolidated Statements of Operations related to the remeasurement of its previously held equity interest.
Schedule of Purchase Price Allocations | The following table summarizes the allocation of the purchase price of properties acquired during the six months ended June 30, 2025 (in thousands):
|  | Land |  |  | Buildings and improvements |  |  | Intangible assets |  |  | Intangible liabilities |  |  | Debt fair value adjustment |  |  | Total |
106 Spring Street - New York, NY |  | $ | 51,108 |  |  | $ | 5,460 |  |  | $ | 10,391 |  |  | $ | (11,822 | ) |  | $ | — |  |  | $ | 55,137 |
73 Wooster St - New York, NY |  |  | 15,876 |  |  |  | 6,775 |  |  |  | 2,848 |  |  |  | (40 | ) |  |  | — |  |  |  | 25,459 |
Renaissance Portfolio - Washington, D.C. |  |  | 103,962 |  |  |  | 127,368 |  |  |  | 20,016 |  |  |  | (4,100 | ) |  |  | (1,546 | ) |  |  | 245,700 |
Pinewood Square - Lake Worth, FL |  |  | 17,208 |  |  |  | 46,208 |  |  |  | 12,668 |  |  |  | (7,877 | ) |  |  | — |  |  |  | 68,207 |
95, 97, and 107 North 6th Street - Brooklyn, NY |  |  | 17,342 |  |  |  | 36,493 |  |  |  | 6,167 |  |  |  | (334 | ) |  |  | — |  |  |  | 59,668 |
85 5th Avenue - New York, NY |  |  | 32,718 |  |  |  | 7,318 |  |  |  | 6,978 |  |  |  | — |  |  |  | — |  |  |  | 47,014 |
70 and 93 North 6th Street - Brooklyn, NY |  |  | 17,058 |  |  |  | 30,834 |  |  |  | 5,833 |  |  |  | (3,402 | ) |  |  | — |  |  |  | 50,323 |
2025 Total |  | $ | 255,272 |  |  | $ | 260,456 |  |  | $ | 64,901 |  |  | $ | (27,575 | ) |  | $ | (1,546 | ) |  | $ | 551,508 |
Schedule of Significant Assumptions Used in Calculating Fair Value of the Asset Acquisitions | The most significant assumptions used in calculating the “as-if vacant” value for acquisition activity during the six months ended June 30, 2025 are as follows:
|  | 2025 |
|  | Low |  | High |
Exit Capitalization Rate |  |  | 5.00 | % |  | 7.25 | %
Discount Rate |  |  | 6.25 | % |  | 10.50 | %
Annual net rental rate per square foot on acquired buildings |  | $ | 15.00 |  | $ | 850.00 |
Interest rate on assumed debt |  |  | 6.35 | % |  | 6.35 | %
Schedule of Asset Held for Sale Property | The assets and liabilities of the property held for sale are presented separately in the accompanying condensed consolidation balance sheets and are summarized as follows:
|  | June 30, |
|  | 2025 |
Assets |  |  |
Building and improvements |  | $ | 24,902 |
Tenant improvements |  |  | 198 |
Land |  |  | 24,086 |
Real estate, intangible assets |  |  | 335 |
Less: Accumulated depreciation and amortization |  |  | (2,466 | )
Other |  |  | 389 |
|  | $ | 47,444 |
Liabilities |  |  |
Real estate, intangible liabilities |  | $ | 163 |
Schedule of Development in Process Activities | Development activity for these properties during the periods presented is summarized below (dollars in thousands):
|  | January 1, 2025 |  |  | Six Months Ended June 30, 2025 |  |  | June 30, 2025 |
|  | Number of Properties |  |  | Carrying Value |  |  | Transfers In |  |  | Capitalized Costs |  |  | Transfers Out |  |  | Number of Properties |  |  | Carrying Value |
Core (a) |  |  | 4 |  |  | $ | 98,255 |  |  | $ | 2,166 |  |  | $ | 20,829 |  |  | $ | 1,066 |  |  |  | 4 |  |  |  | 120,184 |
Fund III |  |  | 1 |  |  |  | 31,364 |  |  |  | — |  |  |  | 1,648 |  |  |  | — |  |  |  | 1 |  |  |  | 33,012 |
Total |  |  | 5 |  |  | $ | 129,619 |  |  | $ | 2,166 |  |  | $ | 22,477 |  |  | $ | 1,066 |  |  |  | 5 |  |  | $ | 153,196 |
(a) During the first quarter of 2025, the Company placed one property into development and one property into service within the Henderson Avenue portfolio.

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 Schedule of asset held for sale property. + References No definition available. + Details
Name: | akr_ScheduleOfAssetHeldForSalePropertyTableTextBlock
Namespace Prefix: | akr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of development in process activities. + References No definition available. + Details
Name: | akr_ScheduleOfDevelopmentInProcessActivitiesTableTextBlock
Namespace Prefix: | akr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of significant assumptions used in calculating fair value asset acquisitions. + References No definition available. + Details
Name: | akr_ScheduleOfSignificantAssumptionsUsedInCalculatingFairValueAssetAcquisitionsTableTextBlock
Namespace Prefix: | akr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration