SEC Filings

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

 

 

 

 

 

 

 

Net Asset Valuation Information

Supplemental Report – March 31, 2019

(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

 

$

33,665

 

 

N/A

 

 

$

991

 

 

$

7,286

 

 

$

7,013

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Income) loss from properties sold or under contract

 

 

 

 

N/A

 

 

 

(23

)

 

 

2

 

 

 

 

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

 

 

(1,413

)

 

N/A

 

 

 

(968

)

 

 

(1,060

)

 

 

 

Net Operating Income of stabilized assets

 

$

32,252

 

 

N/A

 

 

$

 

 

$

6,228

 

 

$

7,013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs to Date (Pro Rata)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-stabilized assets 3

 

$

20,696

 

 

N/A

 

 

$

29,454

 

 

$

36,359

 

 

$

 

Development and redevelopment projects 4

 

 

176,646

 

 

N/A

 

 

 

7,451

 

 

 

25,806

 

 

 

 

Total Costs to Date

 

$

197,342

 

 

N/A

 

 

$

36,905

 

 

$

62,165

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt (Pro Rata)

 

$

739,960

 

 

$

77,477

 

 

$

17,587

 

 

$

95,892

 

 

$

52,060

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance Lease (Pro Rata)

 

$

92,682

 

 

$

1,535

 

 

$

 

 

$

 

 

$

 

__________

 

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 $527.3 million and debt of $288 million.

 

 

 

3.

Pre-stabilized assets consist of the following projects for the Core Portfolio: 613-623 West Diversey; Fund III: 640 Broadway, Cortlandt Crossing and Nostrand; Fund IV: Paramus Plaza, 210 Bowery, 801 Madison, 27 E 61st Street and 1035 Third Avenue.

 

 

 

4.

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

 

17