SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

SCHEDULE IV-MORTGAGE LOANS ON REAL ESTATE

ACADIA REALTY TRUST

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

December 31, 2022

(in thousands)

Description	Effective Interest Rate	Final Maturity Date	Face Amount of Notes Receivable		Net Carrying Amount of Notes Receivable as of December 31, 2022
First Mortgage Loan	6.00%	4/1/2020	$	17,810	$	17,801
Mezzanine Loan	9.25%	1/9/2024		54,000		54,000
First Mortgage Loan	6.56%	9/17/2024		43,000		42,000
Other	4.65%	4/12/2026		6,000		6,000
Mezzanine Loan	8.00%	12/11/2027		5,000		5,000
Total			$	125,810		124,801
Allowance for credit loss						(898	)
Net carrying amount of notes receivable					$	123,903

The Company monitors the credit quality of its notes receivable on an ongoing basis and considers indicators of credit quality such as loan payment activity, the estimated fair value of the underlying collateral, the seniority of the Company's loan in relation to other debt secured by the collateral, the personal guarantees of the borrower and the prospects of the borrower.

The following table reconciles the activity for loans on real estate from January 1, 2020 to December 31, 2022 (in thousands):

	Reconciliation of Loans on Real Estate
	Year Ended December 31,
	2022			2021			2020
Balance at beginning of year	$	159,638		$	102,100		$	114,943
Additions		—			58,000			59,585
Repayments		(29,531	)		—			—
Conversion of OP Units		—			(462	)		—
Conversion to real estate through receipt of deed or through foreclosure		(5,306	)		—			(72,428	)
Total	$	124,801		$	159,638		$	102,100
Allowance for credit loss		(898	)		(5,752	)		(1,218	)
Balance at end of year	$	123,903		$	153,886		$	100,882