SEC Filings

8-K
ACADIA REALTY TRUST filed this Form 8-K on 02/19/2019
Entire Document
 

 

ACADIA REALTY TRUST AND SUBSIDIARIES

Reconciliation of Consolidated Operating Income to Net Property Operating Income (“NOI”) (a)  

(dollars in thousands)

 

 

 

Three Months Ended December 31,

 

 

Year Ended

December 31,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated operating income (loss)

 

$

7,593

 

 

$

(5,064

)

 

$

27,541

 

 

$

17,319

 

Add back:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

 

9,984

 

 

 

8,470

 

 

 

34,343

 

 

 

33,756

 

Depreciation and amortization

 

 

30,794

 

 

 

27,689

 

 

 

117,549

 

 

 

104,934

 

Impairment charge

 

 

 

 

 

10,615

 

 

 

 

 

 

14,455

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Above/below market rent, straight-line rent and other adjustments

 

 

(8,030

)

 

 

(6,439

)

 

 

(23,521

)

 

 

(21,110

)

Consolidated NOI

 

 

40,341

 

 

 

35,271

 

 

 

155,912

 

 

 

149,354

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interest in consolidated NOI

 

 

(10,583

)

 

 

(5,917

)

 

 

(37,496

)

 

 

(28,379

)

Less: Operating Partnership's interest in Fund NOI included above

 

 

(2,852

)

 

 

(1,382

)

 

 

(9,790

)

 

 

(7,927

)

Add: Operating Partnership's share of unconsolidated joint ventures NOI (e)

 

 

6,563

 

 

 

5,124

 

 

 

24,919

 

 

 

19,539

 

NOI - Core Portfolio

 

$

33,469

 

 

$

33,096

 

 

$

133,545

 

 

$

132,587

 

 

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