Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Summary of Segment Information

The following tables set forth certain segment information for the Company (in thousands):

	For the Three Months Ended June 30, 2024
	Core Portfolio			Investment Management			Structured Financing			Unallocated			Total
Total Revenues	$	48,895		$	38,359		$	—		$	—		$	87,254
Depreciation and amortization expenses		(17,966	)		(16,315	)		—			—			(34,281	)
General and administrative expenses		—			—			—			(10,179	)		(10,179	)
Property operating expenses, other operating and real estate taxes		(14,379	)		(11,383	)		—			—			(25,762	)
Loss (gain) on disposition of properties		(2,213	)		2,970			—			—			757
Operating income		14,337			13,631			—			(10,179	)		17,789
Equity in earnings of unconsolidated affiliates		640			3,840			—			—			4,480
Interest income		—			—			5,413			—			5,413
Realized and unrealized holding (losses) gains on investments and other		(2,155	)		—			(209	)		—			(2,364	)
Interest expense		(9,940	)		(13,641	)		—			—			(23,581	)
Income (loss) from continuing operations before income taxes		2,882			3,830			5,204			(10,179	)		1,737
Income tax provision		—			—			—			(155	)		(155	)
Net income		2,882			3,830			5,204			(10,334	)		1,582
Net loss attributable to redeemable noncontrolling interests		—			2,292			—			—			2,292
Net income attributable to noncontrolling interests		(194	)		(2,237	)		—			—			(2,431	)
Net income attributable to Acadia shareholders	$	2,688		$	3,885		$	5,204		$	(10,334	)	$	1,443

	For the Three Months Ended June 30, 2023
	Core Portfolio			Investment Management			Structured Financing		Unallocated			Total
Total Revenues	$	56,376		$	33,572		$	—	$	—		$	89,948
Depreciation and amortization expenses		(20,035	)		(14,021	)		—		—			(34,056	)
General and administrative expenses		—			—			—		(10,643	)		(10,643	)
Property operating expenses, other operating and real estate taxes		(15,055	)		(10,536	)		—		—			(25,591	)
Operating income		21,286			9,015			—		(10,643	)		19,658
Equity in earnings (losses) of unconsolidated affiliates		924			(2,361	)		—		—			(1,437	)
Interest income		—			—			4,970		—			4,970
Realized and unrealized holding gains (losses) on investments and other		1,815			—			—		—			1,815
Interest expense		(10,990	)		(11,099	)		—		—			(22,089	)
Income (loss) from continuing operations before income taxes		13,035			(4,445	)		4,970		(10,643	)		2,917
Income tax provision		—			—			—		(165	)		(165	)
Net income (loss)		13,035			(4,445	)		4,970		(10,808	)		2,752
Net loss attributable to redeemable noncontrolling interests		—			1,091			—		—			1,091
Net (income) loss attributable to noncontrolling interests		(735	)		6,168			—		—			5,433
Net income attributable to Acadia shareholders	$	12,300		$	2,814		$	4,970	$	(10,808	)	$	9,276

	As of or for the Six Months Ended June 30, 2024
	Core Portfolio			Investment Management			Structured Financing			Unallocated			Total
Total Revenues	$	102,433		$	76,177		$	—		$	—		$	178,610
Depreciation and amortization expenses		(36,232	)		(32,989	)		—			—			(69,221	)
General and administrative expenses		—			—			—			(19,947	)		(19,947	)
Property operating expenses, other operating and real estate taxes		(32,298	)		(24,906	)		—			—			(57,204	)
Loss (gain) on disposition of properties		(2,213	)		1,772			—			—			(441	)
Operating income		31,690			20,054			—			(19,947	)		31,797
Equity in earnings of unconsolidated affiliates		2,747			1,421			—			—			4,168
Interest income		—			—			10,651			—			10,651
Realized and unrealized holding (losses) gains on investments and other		(4,018	)		—			(397	)		—			(4,415	)
Interest expense		(19,977	)		(27,313	)		—			—			(47,290	)
Income (loss) from continuing operations before income taxes		10,442			(5,838	)		10,254			(19,947	)		(5,089	)
Income tax provision		—			—			—			(186	)		(186	)
Net income (loss)		10,442			(5,838	)		10,254			(20,133	)		(5,275	)
Net loss attributable to redeemable noncontrolling interests		—			4,846			—			—			4,846
Net (income) loss attributable to noncontrolling interests		(563	)		5,704			—			—			5,141
Net income attributable to Acadia shareholders	$	9,879		$	4,712		$	10,254		$	(20,133	)	$	4,712
Real estate at cost (a)	$	2,616,224		$	1,804,484		$	—		$	—		$	4,420,708
Total assets (a)	$	2,543,067		$	1,581,318		$	126,653		$	—		$	4,251,038
Cash paid for development and property improvement costs	$	29,023		$	8,389		$	—		$	—		$	37,412

	As of or for the Six Months Ended June 30, 2023
	Core Portfolio			Investment Management			Structured Financing		Unallocated			Total
Total Revenues	$	106,172		$	65,615		$	—	$	—		$	171,787
Depreciation and amortization expenses		(38,694	)		(28,535	)		—		—			(67,229	)
General and administrative expenses		—			—			—		(20,589	)		(20,589	)
Property operating expenses, other operating and real estate taxes		(31,164	)		(21,039	)		—		—			(52,203	)
Operating income		36,314			16,041			—		(20,589	)		31,766
Equity in earnings (losses) of unconsolidated affiliates		2,723			(4,131	)		—		—			(1,408	)
Interest income		—			—			9,788		—			9,788
Realized and unrealized holding gains on investments and other		3,393			24,995			184		—			28,572
Interest expense		(21,660	)		(22,016	)		—		—			(43,676	)
Income (loss) from continuing operations before income taxes		20,770			14,889			9,972		(20,589	)		25,042
Income tax provision		—			—			—		(288	)		(288	)
Net income		20,770			14,889			9,972		(20,877	)		24,754
Net loss attributable to redeemable noncontrolling interests		—			3,166			—		—			3,166
Net income attributable to noncontrolling interests		(1,637	)		(3,647	)		—		—			(5,284	)
Net income attributable to Acadia shareholders	$	19,133		$	14,408		$	9,972	$	(20,877	)	$	22,636
Real estate at cost (a)	$	2,613,206		$	1,669,773		$	—	$	—		$	4,282,979
Total assets (a)	$	2,580,565		$	1,499,692		$	123,902	$	—		$	4,204,159
Cash paid for development and property improvement costs	$	15,560		$	15,010		$	—	$	—		$	30,570

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.