SEC Filings

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

 

ACADIA REALTY TRUST AND SUBSIDIARIES

Consolidated Balance Sheets (a)  

(dollars in thousands)

 

 

 

As of

 

 

 

December 31,

2018

 

 

December 31,

2017

 

ASSETS

 

 

 

 

 

 

 

 

Investments in real estate, at cost

 

 

 

 

 

 

 

 

Land

 

$

710,469

 

 

$

658,835

 

Buildings and improvements

 

 

2,745,982

 

 

 

2,538,338

 

Construction in progress

 

 

44,092

 

 

 

18,642

 

Properties under capital lease

 

 

76,965

 

 

 

76,965

 

 

 

 

3,577,508

 

 

 

3,292,780

 

Less: Accumulated depreciation

 

 

(416,657

)

 

 

(339,862

)

Operating real estate, net

 

 

3,160,851

 

 

 

2,952,918

 

Real estate under development

 

 

120,297

 

 

 

173,702

 

Net investments in real estate

 

 

3,281,148

 

 

 

3,126,620

 

Notes receivable, net

 

 

109,613

 

 

 

153,829

 

Investments in and advances to unconsolidated affiliates

 

 

262,410

 

 

 

302,070

 

Other assets, net

 

 

208,570

 

 

 

214,959

 

Cash and cash equivalents

 

 

21,268

 

 

 

74,823

 

Rents receivable, net

 

 

62,191

 

 

 

51,738

 

Restricted cash

 

 

13,580

 

 

 

10,846

 

Assets of properties held for sale

 

 

 

 

 

25,362

 

Total assets

 

$

3,958,780

 

 

$

3,960,247

 

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

Mortgage and other notes payable, net

 

$

1,017,288

 

 

$

909,174

 

Unsecured notes payable, net

 

 

533,257

 

 

 

473,735

 

Unsecured line of credit

 

 

 

 

 

41,500

 

Accounts payable and other liabilities

 

 

214,961

 

 

 

210,052

 

Capital lease obligation

 

 

71,111

 

 

 

70,611

 

Dividends and distributions payable

 

 

24,593

 

 

 

24,244

 

Distributions in excess of income from, and investments in, unconsolidated affiliates

 

 

15,623

 

 

 

15,292

 

Total liabilities

 

 

1,876,833

 

 

 

1,744,608

 

Commitments and contingencies

 

 

 

 

 

 

 

 

EQUITY

 

 

 

 

 

 

 

 

Acadia Shareholders' Equity

 

 

 

 

 

 

 

 

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 81,557,472 and 83,708,140 shares, respectively

 

 

82

 

 

 

84

 

Additional paid-in capital

 

 

1,548,603

 

 

 

1,596,514

 

Accumulated other comprehensive income

 

 

516

 

 

 

2,614

 

Distributions in excess of accumulated earnings

 

 

(89,696

)

 

 

(32,013

)

Total Acadia shareholders’ equity

 

 

1,459,505

 

 

 

1,567,199

 

Noncontrolling interests

 

 

622,442

 

 

 

648,440

 

Total equity

 

 

2,081,947

 

 

 

2,215,639

 

Total liabilities and equity

 

$

3,958,780

 

 

$

3,960,247

 

 

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