CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands		Jun. 30, 2024		Dec. 31, 2023
ASSETS
Operating real estate, net		$ 3,446,912		$ 3,517,281
Real estate under development		101,802		94,799
Net investments in real estate		3,548,714		3,612,080
Notes receivable, net ($1,520 and $1,279 of allowance for credit losses as of June 30, 2024 and December 31, 2023, respectively)		126,653		124,949
Investments in and advances to unconsolidated affiliates		203,410		197,240
Other assets, net		213,779		208,460
Right-of-use assets - operating leases, net		27,748		29,286
Cash and cash equivalents		31,915		17,481
Restricted cash		23,139		7,813
Marketable securities		21,668		33,284
Rents receivable, net		54,012		49,504
Assets of properties held for sale		0		11,057
Total assets	[1]	4,251,038	[2]	4,291,154
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Mortgage and other notes payable, net		955,069		930,127
Unsecured notes payable, net		644,313		726,727
Unsecured line of credit		96,446		213,287
Accounts payable and other liabilities		218,095		229,375
Lease liability - operating leases		29,964		31,580
Dividends and distributions payable		20,285		18,520
Distributions in excess of income from, and investments in, unconsolidated affiliates		7,301		7,982
Total liabilities	[1]	1,971,473		2,157,598
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests (Note 10)		40,874		50,339
Acadia Shareholders' Equity
Common shares, $0.001 par value per share, authorized 200,000,000 shares, issued and outstanding 102,266,580 and 95,361,676 shares, respectively		105		95
Additional paid-in capital		2,115,689		1,953,521
Accumulated other comprehensive income		47,621		32,442
Distributions in excess of accumulated earnings		(381,945)		(349,141)
Total Acadia shareholders’ equity		1,781,470		1,636,917
Noncontrolling interests		457,221		446,300
Total equity		2,238,691		2,083,217
Total liabilities, redeemable noncontrolling interests, and equity		$ 4,251,038		$ 4,291,154

[1] Represents the 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: $1,654.5 million and $1,679.8 million of Operating real estate, net; $30.0 million and $28.9 million of Real estate under development; $91.1 million and $92.8 million of Investments in and advances to unconsolidated affiliates; $90.3 million and $101.7 million of Other assets, net; $2.2 million and $2.1 million of Right-of-use assets - operating leases, net; $20.7 million and $10.8 million of Cash and cash equivalents; $10.8 million and $7.0 million of Restricted cash; $23.9 million and $21.4 million of Rents receivable, net; $800.3 million and $764.6 million of Mortgage and other notes payable, net; $0.0 million and $80.5 million of Unsecured notes payable, net; $128.1 million and $127.2 million of Accounts payable and other liabilities; $2.3 million and $2.2 million of Lease liability- operating leases, net as of June 30, 2024 and December 31, 2023, respectively.

[2] Total assets for the Investment Management segment include $549.3 million and $672.7 million related to Fund II’s City Point property as of June 30, 2024 and 2023, respectively.