SEC Filings

8-K
ACADIA REALTY TRUST filed this Form 8-K on 04/25/2019
Entire Document
 

 

 

 

 

Income Statement – Pro Rata Adjustments

Supplemental Report – March 31, 2019

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Ouarter Ended March 31, 2019

 

CORE PORTFOLIO AND FUND INCOME

 

Noncontrolling

Interest in

Consolidated

Subsidiaries 5

 

 

Company’s

Interest in

Unconsolidated

Subsidiaries 6

 

PROPERTY REVENUES

 

 

 

 

 

 

 

 

Minimum rents

 

$

(18,457

)

 

$

8,681

 

Percentage rents

 

 

(131

)

 

 

22

 

Expense reimbursements - CAM 2

 

 

(2,171

)

 

 

727

 

Expense reimbursements - Taxes 2

 

 

(1,794

)

 

 

1,744

 

Other property income

 

 

(194

)

 

 

138

 

Total Property Revenues

 

 

(22,747

)

 

 

11,312

 

 

 

 

 

 

 

 

 

 

PROPERTY EXPENSES

 

 

 

 

 

 

 

 

Property operating - CAM

 

 

(4,202

)

 

 

721

 

Other property operating (Non-CAM)

 

 

(1,418

)

 

 

93

 

Real estate taxes

 

 

(2,726

)

 

 

1,901

 

Total Property Expenses

 

 

(8,346

)

 

 

2,715

 

NET OPERATING INCOME - PROPERTIES

 

 

(14,401

)

 

 

8,597

 

 

 

 

 

 

 

 

 

 

OTHER INCOME (EXPENSE)

 

 

 

 

 

 

 

 

Interest income

 

 

(871

)

 

 

 

Straight-line rent income

 

 

(890

)

 

 

234

 

Above/below-market rent

 

 

(632

)

 

 

190

 

Interest expense 3

 

 

9,108

 

 

 

(2,509

)

Amortization of finance costs

 

 

1,248

 

 

 

(201

)

Above/below-market interest expense

 

 

 

 

 

21

 

Asset and property management expense

 

 

110

 

 

 

(178

)

Other income/expense

 

 

(59

)

 

 

(9

)

Financing lease interest

 

 

65

 

 

 

 

CORE PORTFOLIO AND FUND INCOME

 

 

(6,322

)

 

 

6,145

 

 

 

 

 

 

 

 

 

 

FEE INCOME

 

 

 

 

 

 

 

 

Asset and property management fees

 

 

4,089

 

 

 

91

 

Promote income from funds, net

 

 

 

 

 

 

Transactional fees 4

 

 

1,324

 

 

 

35

 

Income tax benefit (provision)

 

 

52

 

 

 

(6

)

Total Fee Income

 

 

5,465

 

 

 

120

 

 

 

 

 

 

 

 

 

 

General and Administrative

 

 

365

 

 

 

(34

)

Depreciation and amortization

 

 

12,180

 

 

 

(3,960

)

Non-real estate depreciation and amortization

 

 

 

 

 

 

Gain on disposition of properties

 

 

(1,631

)

 

 

 

Income before equity in earnings and noncontrolling interests

 

 

10,057

 

 

 

2,271

 

 

 

 

 

 

 

 

 

 

Equity in earnings of unconsolidated affiliates

 

 

 

 

 

 

Noncontrolling interests 7

 

 

(796

)

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME ATTRIBUTABLE TO ACADIA

 

$

9,261

 

 

$

2,271

 

 

 

 

 

 

 

 

 

 

 

 

 

7