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Variable Interest Entities - Schedule of Assets and Liabilities Included in Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
ASSETS        
Operating real estate, net $ 3,994,407 $ 3,543,974    
Real estate under development 142,468 129,619    
Investments in and advances to unconsolidated affiliates 164,403 209,232    
Other assets, net 230,327 223,767    
Right-of-use assets - operating leases, net 24,552 25,531    
Cash and cash equivalents 49,388 16,806 $ 46,207 $ 17,481
Restricted cash 25,647 22,897 23,088 $ 7,813
Rents receivable, net 63,710 58,022    
Assets of property held for sale 21,023 0    
Total assets 4,875,192 [1],[2] 4,371,203 [1] $ 4,276,323 [2]  
Liabilities:        
Mortgage and other notes payable, net 978,915 953,700    
Accounts payable and other liabilities 276,233 232,726    
Lease liabilities - operating leases 26,969 [3] 27,920    
Total liabilities [1] 2,210,078 1,838,931    
VIE        
ASSETS        
Operating real estate, net 1,776,126 1,640,071    
Real estate under development 0 31,514    
Investments in and advances to unconsolidated affiliates 56,244 74,361    
Other assets, net 84,183 79,381    
Right-of-use assets - operating leases, net 1,636 1,978    
Cash and cash equivalents 36,828 15,934    
Restricted cash 12,872 11,013    
Rents receivable, net 27,196 27,317    
Assets of property held for sale 21,023 0    
Total assets [4] 2,016,108 1,881,569    
Liabilities:        
Mortgage and other notes payable, net 876,259 799,734    
Accounts payable and other liabilities 130,070 120,088    
Lease liabilities - operating leases 1,725 2,077    
Total liabilities [4] $ 1,008,054 $ 921,899    
[1] consolidated assets and liabilities of Acadia Realty Limited Partnership (the “Operating Partnership”), which is a consolidated variable interest entity (“VIE”) (Note 15). The Condensed Consolidated Balance Sheets include the following amounts related to our consolidated VIEs that are consolidated by the Operating Partnership: $1,776.1 million and $1,640.1 million of Operating real estate, net; $- million and $31.5 million of Real estate under development; $56.2 million and $74.4 million of Investments in and advances to unconsolidated affiliates; $84.2 million and $79.4 million of Other assets, net; $1.6 million and $2.0 million of Right-of-use assets - operating leases, net; $36.8 million and $15.9 million of Cash and cash equivalents; $12.9 million and $11.0 million of Restricted cash; $27.2 million and $27.3 million of Rents receivable, net; $21.0 million and $- million of Assets of properties held for sale; $876.3 million and $799.7 million of Mortgage and other notes payable, net; $130.1 million and $120.1 million of Accounts payable and other liabilities; $1.7 million and $2.1 million of Lease liability- operating leases as of September 30, 2025 and December 31, 2024, respectively.
[2] Total assets for the Investment Management segment include $529.5 million and $545.3 million related to Fund II’s City Point property as of September 30, 2025 and 2024, respectively.
[3] Minimum rental payments include $6.7 million of interest related to operating leases and $129.2 million related to finance leases. These amounts exclude lease renewal options that are not reasonably certain to be exercised.
[4] As of September 30, 2025 and December 31, 2024, total VIE assets of $617.2 million and $705.6 million, respectively, and total VIE liabilities of $201.6 million and $235.1 million, respectively, include third-party mortgage debt 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 $42.5 million is guaranteed by the Operating Partnership (Note 9). The remaining VIE assets are generally encumbered by third-party non-recourse mortgage debt and serve as collateral under the respective property mortgage loans. These assets are restricted and may only be used to settle the corresponding obligations of the VIEs. Similarly, the remaining VIE liabilities are obligations of these consolidated VIEs and do not have recourse to the Operating Partnership or the Company.