Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]

Schedule of Dividends Declared and Paid

The following table sets forth the distributions declared and/or paid during the periods presented:

Date Declared	Amount Per Share		Record Date	Payment Date
March 15, 2021	$	0.15	March 31, 2021	April 15, 2021
May 5, 2021	$	0.15	June 30, 2021	July 15, 2021
August 5, 2021	$	0.15	September 30, 2021	October 15, 2021
November 3, 2021	$	0.15	December 31, 2021	January 14, 2022
February 15, 2022	$	0.18	March 31, 2022	April 14, 2022
May 4, 2022	$	0.18	June 30, 2022	July 15, 2022
August 10, 2022	$	0.18	September 30, 2022	October 14, 2022
November 9, 2022	$	0.18	December 30, 2022	January 13, 2023

Summary of Activity in Accumulated Other Comprehensive Income (Loss)

The following tables set forth the activity in accumulated other comprehensive income (loss) for the years ended December 31, 2022, 2021 and 2020 (in thousands):

	Acadia's Share
Balance at January 1, 2022	$	(36,214	)
Other comprehensive income before reclassifications - swap agreements		96,858
Reclassification of realized interest on swap agreements		8,232
Net current period other comprehensive income		105,090
Net current period other comprehensive loss attributable to redeemable noncontrolling    interests		—
Net current period other comprehensive income attributable to noncontrolling    interests		(22,059	)
Balance at December 31, 2022	$	46,817
Balance at January 1, 2021	$	(74,891	)
Other comprehensive income before reclassifications - swap agreements		30,500
Reclassification of realized interest on swap agreements		21,407
Net current period other comprehensive income		51,907
Net current period other comprehensive income attributable to noncontrolling    interests		(13,230	)
Balance at December 31, 2021	$	(36,214	)
Balance at January 1, 2020	$	(31,474	)
Other comprehensive loss before reclassifications		(73,686	)
Reclassification of realized interest on swap agreements		15,059
Net current period other comprehensive loss		(58,627	)
Net current period other comprehensive income attributable to noncontrolling    interests		15,210
Balance at December 31, 2020	$	(74,891	)

Summary of Change in Noncontrolling Interest

The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2022, 2021 and 2020 (dollars in thousands):

	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total			Redeemable Noncontrolling Interests (c)
Balance at January 1, 2022	$	94,120		$	534,202		$	628,322		$	—
Distributions declared of $0.72 per Common OP Unit and distributions on Preferred OP Units		(5,094	)		—			(5,094	)		—
Net loss for the year ended December 31, 2022		(1,308	)		(22,962	)		(24,270	)		(5,536	)
Conversion of 234,473 Common OP Units to Common Shares by limited partners of the Operating Partnership		(3,945	)		—			(3,945	)		—
Other comprehensive income - unrealized gain on valuation of swap agreements		4,641			15,567			20,208			—
Reclassification of realized interest expense on swap agreements		58			1,793			1,851			—
Acquisition of noncontrolling interest (d)		—			(91,811	)		(91,811	)		—
City Point Loan		—			—			—			(65,391	)
City Point Loan accrued interest		—			—			—			(3,923	)
Noncontrolling interest contributions		—			109,428			109,428			65,945
Noncontrolling interest distributions		—			(79,838	)		(79,838	)		—
Employee Long-term Incentive Plan Unit Awards		10,000			—			10,000			—
Reclassification of redeemable noncontrolling interests(e)		—			(76,569	)		(76,569	)		76,569
Reallocation of noncontrolling interests (f)		1,082			—			1,082			—
Balance at December 31, 2022	$	99,554		$	389,810		$	489,364		$	67,664
Balance at January 1, 2021	$	89,431		$	519,734		$	609,165		$	—
Distributions declared of $0.60 per Common OP Unit		(4,185	)		—			(4,185	)		—
Net income for the year ended December 31, 2021		2,075			407			2,482			—
Conversion of 89,765 Common OP Units to Common Shares by limited partners of the Operating Partnership		(1,431	)		—			(1,431	)		—
Cancellation of OP units(g)		(568	)		—			(568	)		—
Other comprehensive income - unrealized gain on valuation of swap agreements		2,072			3,918			5,990			—
Reclassification of realized interest expense on swap agreements		210			7,030			7,240			—
Noncontrolling interest contributions		—			30,164			30,164			—
Noncontrolling interest distributions		—			(27,051	)		(27,051	)		—
Employee Long-term Incentive Plan Unit Awards		11,284			—			11,284			—
Reallocation of noncontrolling interests (f)		(4,768	)		—			(4,768	)		—
Balance at December 31, 2021	$	94,120		$	534,202		$	628,322		$	—

Balance at January 1, 2020	$	97,670		$	548,769		$	646,439		$	—
Distributions declared of $0.29 per Common OP Unit		(2,218	)		—			(2,218	)		—
Net income (loss) for the year ended December 31, 2020		125			(56,867	)		(56,742	)		—
Conversion of 407,594 Common OP Units to Common Shares by limited partners of the Operating Partnership		(6,544	)		—			(6,544	)		—
Other comprehensive loss - unrealized loss on valuation of swap agreements		(2,709	)		(17,995	)		(20,704	)		—
Reclassification of realized interest expense on swap agreements		174			5,320			5,494			—
Noncontrolling interest contributions		—			52,174			52,174			—
Noncontrolling interest distributions		—			(27,574	)		(27,574	)		—
Employee Long-term Incentive Plan Unit Awards		10,130			—			10,130			—
Rebalancing adjustment (c)		(7,197	)		—			(7,197	)		—
Acquisition of noncontrolling interest		—			15,918			15,918			—
Cumulative effect of change in accounting principle		—			(11	)		(11	)		—
Balance at December 31, 2020	$	89,431		$	519,734		$	609,165		$	—

a)Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,062,108, 3,076,849, and 3,101,958 Common OP Units at December 31, 2022, 2021 and 2020, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2022, 2021 and 2020; (iii) 126,384 Series C Preferred OP Units at December 31, 2022 and 126,593 at December 31, 2021 and 2020; and (iv) 3,512,414, 3,371,296, and 2,886,207 LTIP units at December 31, 2022, 2021 and 2020, respectively, as discussed in Share Incentive Plan (Note 13). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above.

b)Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and seven other subsidiaries.

c)Redeemable noncontrolling interests comprise third-party interest in Fund II as limited partners in this Fund have been granted put rights.

d)Represents the acquisition of the 11.67% noncontrolling interest in Fund II and Mervyns II acquired on June 27, 2022 for $18.5 million and 21.67% in Fund II on August 1, 2022 for $5.8 million (Note 1).

e)Represents the reclassification of redeemable noncontrolling interests related to the City Point Loan in the third quarter of 2022.

f)Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.

g)The Company exchanged 21,109 OP Units in settlement of a note receivable in the amount of $0.5 million on July 12, 2021 (Note 3).