SEC Filings

10-Q
ACADIA REALTY TRUST filed this Form 10-Q on 04/25/2019
Entire Document
 

ACADIA REALTY TRUST AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

 

Acquisitions and Conversions

During the three months ended March 31, 2019 and the year ended December 31, 2018, the Company acquired the following consolidated retail properties (dollars in thousands):

 

Property and Location

 

Percent

Acquired

 

 

Date of

Acquisition

 

Purchase

Price

 

2019 Acquisitions

 

 

 

 

 

 

 

 

 

 

Core

 

 

 

 

 

 

 

 

 

 

Soho Portfolio - 51 and 53 Greene Street (a)

 

100%

 

 

Mar 15, 2019

Mar 27, 2019

 

$

32,194

 

Total 2019 Acquisitions

 

 

 

 

 

 

 

$

32,194

 

 

 

 

 

 

 

 

 

 

 

 

2018 Acquisitions and Conversions

 

 

 

 

 

 

 

 

 

 

Core

 

 

 

 

 

 

 

 

 

 

Bedford Green Land Parcel - Bedford Hills, NY

 

100%

 

 

Mar 23, 2018

 

$

1,337

 

Subtotal Core

 

 

 

 

 

 

 

 

1,337

 

 

 

 

 

 

 

 

 

 

 

 

Fund IV

 

 

 

 

 

 

 

 

 

 

Broughton Street Partners I - Savannah, GA (Conversion) (Note 4)

 

100%

 

 

Oct 11, 2018

 

 

36,104

 

Subtotal Fund IV

 

 

 

 

 

 

 

 

36,104

 

 

 

 

 

 

 

 

 

 

 

 

Fund V

 

 

 

 

 

 

 

 

 

 

Trussville Promenade - Trussville, AL

 

100%

 

 

Feb 21, 2018

 

 

45,259

 

Elk Grove Commons - Elk Grove, CA

 

100%

 

 

Jul 18, 2018

 

 

59,320

 

Hiram Pavilion - Hiram, GA

 

100%

 

 

Oct 23, 2018

 

 

44,443

 

Subtotal Fund V

 

 

 

 

 

 

 

 

149,022

 

Total 2018 Acquisitions and Conversions

 

 

 

 

 

 

 

$

186,463

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

The Soho Portfolio is a collection of six properties located in New York, NY with an aggregate purchase price of approximately $96.0 million. The acquisitions of the remaining four properties are expected to be finalized through early 2020.

 

The 2019 Acquisitions and 2018 Acquisitions and Conversions were considered asset acquisitions based on accounting guidance effective as of January 1, 2018. For the three months ended March 31, 2019 and 2018, the Company capitalized $0.4 million and $0.1 million, respectively, of acquisition costs. No debt was assumed in any of the 2019 Acquisitions or 2018 Acquisitions or Conversions.

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