SEC Filings

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

 

 

Net Asset Valuation Information

Supplemental Report – December 31, 2018

(in thousands)

 

 

 

 

 

 

CORE

 

 

FUND II 2

 

 

FUND III

 

 

FUND IV

 

 

FUND V

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ownership Percentage

 

N/A

 

 

 

28.33

%

 

 

24.54

%

 

 

23.12

%

 

 

20.10

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Quarter NOI

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Operating Income 1

 

$

33,469

 

 

N/A

 

 

$

891

 

 

$

7,530

 

 

$

6,645

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Income) loss from properties sold or under contract

 

 

 

 

N/A

 

 

 

(55

)

 

 

5

 

 

 

 

(Income) loss from pre-stabilized assets, development and redevelopment projects 3, 4

 

 

(1,275

)

 

N/A

 

 

 

(836

)

 

 

(2,430

)

 

 

 

Net Operating Income of stabilized assets

 

$

32,194

 

 

N/A

 

 

$

 

 

$

5,105

 

 

$

6,645

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs to Date (Pro Rata)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-stabilized assets 3

 

$

20,766

 

 

N/A

 

 

$

35,877

 

 

$

48,155

 

 

$

 

Development and redevelopment projects 4

 

 

37,048

 

 

N/A

 

 

 

4,209

 

 

 

25,670

 

 

 

 

Total Costs to Date

 

$

57,814

 

 

N/A

 

 

$

40,086

 

 

$

73,825

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt (Pro Rata)

 

$

731,012

 

 

$

71,229

 

 

$

17,410

 

 

$

95,710

 

 

$

48,415

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital Lease (Pro Rata)

 

$

71,111

 

 

N/A

 

 

$

 

 

$

 

 

$

 

__________

 

1.

Does not include a full quarter of NOI for any assets purchased during the current quarter. See “Transactional Activity” page in this Supplemental Report for descriptions of those acquisitions.

 

 

 

2.

Fund II has been substantially liquidated except for its investment in City Point with pre-stabilized assets of $527 million and debt of $264.6 million.

 

 

 

3.

Pre-stabilized assets consist of the following projects for the Core Portfolio: Clark & Diversey; Fund III: 640 Broadway, 654 Broadway, Cortlandt Crossing and Nostrand; Fund IV: Paramus Plaza, 650 Bald Hill Road, 210 Bowery, 801 Madison, 27 E 61st Street, 938 West North and 1035 Third Avenue.

 

 

 

4.

See “Development and Redevelopment Activity” page in this Supplemental Report.

 

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