Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Summary of Segment Information

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

	As of or for the Year Ended December 31, 2024
	Core Portfolio			Investment Management			Structured Financing			Unallocated			Total
Rental revenue	$	193,581		$	155,949		$	—		$	—		$	349,530
Other revenue		6,829			3,330			—			—			10,159
Depreciation and amortization		(73,460	)		(65,450	)		—			—			(138,910	)
Property operating expenses		(32,439	)		(33,561	)		—			—			(66,000	)
Real estate taxes		(29,648	)		(16,401	)		—			—			(46,049	)
General and administrative expenses		—			—			—			(40,559	)		(40,559	)
Impairment charges		(508	)		(1,170	)		—			—			(1,678	)
(Loss) gain on disposition of properties		(2,213	)		1,379			—			—			(834	)
Operating income		62,142			44,076			—			(40,559	)		65,659
Interest income		—			—			25,085			—			25,085
Equity in earnings of unconsolidated affiliates   inclusive of gains on disposition of properties		4,771			10,407			—			—			15,178
Interest expense		(36,898	)		(55,659	)		—			—			(92,557	)
Realized and unrealized holding (losses) gains on investments and other		(4,064	)		—			(950	)		—			(5,014	)
Income tax provision		—			—			—			(212	)		(212	)
Net income (loss)		25,951			(1,176	)		24,135			(40,771	)		8,139
Net loss attributable to redeemable noncontrolling interests		—			7,915			—			—			7,915
Net loss attributable to noncontrolling interests		(1,629	)		7,225			—			—			5,596
Net income (loss) attributable to Acadia shareholders	$	24,322		$	13,964		$	24,135		$	(40,771	)	$	21,650
Real estate at cost (a)	$	2,783,801		$	1,815,814		$	—		$	—		$	4,599,615
Total Assets (a)	$	2,675,808		$	1,568,811		$	126,584		$	—		$	4,371,203
Cash paid for acquisition of real estate	$	131,978		$	29,555		$	—		$	—		$	161,533
Cash paid for development and property improvement costs	$	50,676		$	29,574		$	—		$	—		$	80,250

	As of or for the Year Ended December 31, 2023
	Core Portfolio			Investment Management			Structured Financing			Unallocated			Total
Rental revenue	$	200,842		$	132,202		$	—		$	—		$	333,044
Other revenue		2,703			2,945			—			—			5,648
Depreciation and amortization		(76,642	)		(59,342	)		—			—			(135,984	)
Property operating expenses		(32,471	)		(29,355	)		—			—			(61,826	)
Real estate taxes		(31,911	)		(14,739	)		—			—			(46,650	)
General and administrative expenses		—			—			—			(41,470	)		(41,470	)
Impairment charges		—			(3,686	)		—			—			(3,686	)
Gain on disposition of properties		—			—			—			—			—
Operating income (loss)		62,521			28,025			—			(41,470	)		49,076
Interest income		—			—			19,993			—			19,993
Equity in earnings (losses) of unconsolidated affiliates   inclusive of gains on disposition of properties		2,734			(10,411	)		—			—			(7,677	)
Interest expense		(44,521	)		(48,732	)		—			—			(93,253	)
Realized and unrealized holding gains (losses) on investments and other		5,756			24,995			(338	)		—			30,413
Income tax provision		—			—			—			(301	)		(301	)
Net income (loss)		26,490			(6,123	)		19,655			(41,771	)		(1,749	)
Net loss attributable to redeemable noncontrolling interests		—			8,239			—			—			8,239
Net (income) loss attributable to noncontrolling interests		(1,937	)		15,320			—			—			13,383
Net income (loss) attributable to Acadia shareholders	$	24,553		$	17,436		$	19,655		$	(41,771	)	$	19,873
Real estate at cost (a)	$	2,646,831		$	1,788,688		$	—		$	—		$	4,435,519
Total Assets (a)	$	2,566,450		$	1,599,755		$	124,949		$	—		$	4,291,154
Cash paid for acquisition of real estate	$	—		$	126,545		$	—		$	—		$	126,545
Cash paid for development and property improvement costs	$	44,428		$	25,112		$	—		$	—		$	69,540

	As of or for the Year Ended December 31, 2022
	Core Portfolio			Investment Management			Structured Financing			Unallocated			Total
Rental revenue	$	195,960		$	121,854		$	—		$	—		$	317,814
Other revenue		6,587			1,889			—			—			8,476
Depreciation and amortization		(75,614	)		(60,303	)		—			—			(135,917	)
Property operating expenses		(30,067	)		(26,928	)		—			—			(56,995	)
Real estate taxes		(30,239	)		(14,693	)		—			—			(44,932	)
General and administrative expenses		—			—			—			(44,066	)		(44,066	)
Impairment charges		—			(33,311	)		—			—			(33,311	)
Gain on disposition of properties		7,245			49,916			—			—			57,161
Operating income (loss)		73,872			38,424			—			(44,066	)		68,230
Interest income		—			—			14,641			—			14,641
Equity in (losses) earnings of unconsolidated affiliates   inclusive of gains on disposition of properties		(45,919	)		13,012			—			—			(32,907	)
Interest expense		(37,892	)		(42,317	)		—			—			(80,209	)
Realized and unrealized holding gains (losses) on investments and other		1,163			(35,559	)		(598	)		—			(34,994	)
Income tax provision		—			—			—			(12	)		(12	)
Net (loss) income		(8,776	)		(26,440	)		14,043			(44,078	)		(65,251	)
Net loss attributable to redeemable noncontrolling interests		—			5,536			—			—			5,536
Net loss attributable to noncontrolling interests		1,000			23,270			—			—			24,270
Net (loss) income attributable to Acadia shareholders	$	(7,776	)	$	2,366		$	14,043		$	(44,078	)	$	(35,445	)
Real estate at cost	$	2,597,394		$	1,655,616		$	—		$	—		$	4,253,010
Total Assets	$	2,599,268		$	1,579,411		$	123,903		$	—		$	4,302,582
Cash paid for acquisition of real estate and leasehold interest	$	242,633		$	—		$	—		$	—		$	242,633
Cash paid for development and property improvement costs	$	32,406		$	18,640		$	—		$	—		$	51,046

a)Total assets for the Investment Management segment include $515.2 million, $555.8 million, and $569.1 million related to Fund II’s City Point property at December 31, 2024, 2023, and 2022, respectively.