0000950170-22-002570 | 10-K | XBRL Viewer

[1]	Real estate at cost and total assets for the Funds segment include $657.0 million and $641.7 million, or $190.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2021 and 2020, respectively.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Common shares, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Common shares, authorized (in shares)	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000
Common shares, issued (in shares)	89,303,545	88,451,668	88,419,303	86,302,352	86,268,303	86,266,122	86,264,641	85,989,836	87,050,465
Common shares, outstanding (in shares)	89,303,545	88,451,668	88,419,303	86,302,352	86,268,303	86,266,122	86,264,641	85,989,836	87,050,465

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues	$ 292,497	$ 250,908	$ 289,585
Operating expenses
Depreciation and amortization	123,439	147,229	122,580
General and administrative	40,125	35,798	34,299
Real estate taxes	45,357	42,477	38,333
Property operating	53,516	55,551	49,898
Impairment charges	9,925	85,598	1,721
Total operating expenses	272,362	366,653	246,831
Gain on disposition of properties	10,521	683	30,324
Operating income	30,656	(115,062)	73,078
Equity in FALSE of unconsolidated affiliates	5,330	(3,057)	5,899
Interest income	9,065	8,979	7,988
Realized and unrealized holding gains on investments and other	49,120	113,362	6,947
Interest expense	(68,048)	(69,671)	(69,213)
Income (loss) from continuing operations before income taxes	26,123	(65,449)	24,699
Income tax provision	(93)	(269)	(1,465)
Net income (loss)	26,030	(65,718)	23,234
Net (income) loss attributable to noncontrolling interests	(2,482)	56,742	30,483
Net income (loss) attributable to Acadia	$ 23,548	$ (8,976)	$ 53,717
Basic and diluted earnings (loss) per share	$ 0.26	$ (0.11)	$ 0.63
Rental Income
Revenues	$ 285,898	$ 246,432	$ 285,470
Other
Revenues	$ 6,599	$ 4,476	$ 4,115

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 26,030	$ (65,718)	$ 23,234
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements	30,500	(73,686)	(35,883)
Reclassification of realized interest on swap agreements	21,407	15,059	(870)
Other comprehensive income (loss)	51,907	(58,627)	(36,753)
Comprehensive income (loss)	77,937	(124,345)	(13,519)
Comprehensive (income) loss attributable to noncontrolling interests	(15,712)	71,952	35,246
Comprehensive income (loss) attributable to Acadia	$ 62,225	$ (52,393)	$ 21,727

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands

Total

Cumulative Effect of Change in Accounting Principle

Common Shares

Additional Paid-in Capital

Accumulated Other Comprehensive Income (Loss)

Distributions in Excess of Accumulated Earnings

Cumulative Effect of Change in Accounting Principle

Total Common Shareholders' Equity

Cumulative Effect of Change in Accounting Principle

Noncontrolling Interest [Member]

Cumulative Effect of Change in Accounting Principle

Balance at Dec. 31, 2018

$ 2,082,757

$ 82

$ 1,548,603

$ 516

$ (90,426)

$ 1,458,775

$ 623,982

Balance (in Shares) at Dec. 31, 2018

81,557,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of Common Shares

145,498

$ 5

145,493

145,498

Issuance of Common Shares (in Shares)

5,164,000

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

5,104

(5,104)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

308,000

Repurchase of Common Shares

$ 0

Repurchase of Common Shares (in shares)

Dividends/distributions declared

$ (103,434)

(96,310)

(7,124)

Employee and trustee stock compensation, net

10,006

546

9,460

Employee and trustee stock compensation, net (in Shares)

21,000

Noncontrolling interest distributions

(94,283)

Noncontrolling interest contributions

161,365

Comprehensive (loss) income

(13,519)

(31,990)

53,717

21,727

(35,246)

Reallocation of noncontrolling interests

6,611

(6,611)

^[1]

Balance at Dec. 31, 2019

$ 2,188,390

$ (400)

$ 87

1,706,357

(31,474)

(133,019)

$ (389)

1,541,951

$ (389)

646,439

$ (11)

Balance (in Shares) at Dec. 31, 2019

87,050,465

87,050,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Repurchase of Common Shares

$ (22,400)

Repurchase of Common Shares (in shares)

(1,219,065)

Balance (in Shares) at Mar. 31, 2020

85,989,836

Balance at Dec. 31, 2019

$ 2,188,390

(400)

$ 87

1,706,357

(31,474)

(133,019)

(389)

1,541,951

(389)

646,439

(11)

Balance (in Shares) at Dec. 31, 2019

87,050,465

87,050,000

Balance (in Shares) at Jun. 30, 2020

86,264,641

Balance at Dec. 31, 2019

$ 2,188,390

(400)

$ 87

1,706,357

(31,474)

(133,019)

(389)

1,541,951

(389)

646,439

(11)

Balance (in Shares) at Dec. 31, 2019

87,050,465

87,050,000

Balance (in Shares) at Sep. 30, 2020

86,266,122

Balance at Dec. 31, 2019

$ 2,188,390

$ (400)

$ 87

1,706,357

(31,474)

(133,019)

$ (389)

1,541,951

$ (389)

646,439

$ (11)

Balance (in Shares) at Dec. 31, 2019

87,050,465

87,050,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Acquisition of noncontrolling interest

$ 588

(15,330)

15,918

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

(6,544)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

408,000

Repurchase of Common Shares

(22,386)

$ (1)

(22,385)

(22,386)

Repurchase of Common Shares (in shares)

(1,219,000)

Dividends/distributions declared

(27,155)

(24,937)

(2,218)

Employee and trustee stock compensation, net

10,912

782

10,130

Employee and trustee stock compensation, net (in Shares)

30,000

Noncontrolling interest distributions

(27,574)

Noncontrolling interest contributions

52,174

Comprehensive (loss) income

(124,345)

(43,417)

(8,976)

(52,393)

(71,952)

Reallocation of noncontrolling interests

7,197

(7,197)

Balance at Dec. 31, 2020

$ 2,050,204

$ 86

1,683,165

(74,891)

(167,321)

1,441,039

609,165

Balance (in Shares) at Dec. 31, 2020

86,268,303

86,269,000

Balance (in Shares) at Mar. 31, 2020

85,989,836

Balance (in Shares) at Jun. 30, 2020

86,264,641

Balance (in Shares) at Sep. 30, 2020

86,266,122

Balance (in Shares) at Dec. 31, 2020

86,268,303

86,269,000

Balance (in Shares) at Mar. 31, 2021

86,302,352

Balance at Dec. 31, 2020

$ 2,050,204

$ 86

1,683,165

(74,891)

(167,321)

1,441,039

609,165

Balance (in Shares) at Dec. 31, 2020

86,268,303

86,269,000

Balance (in Shares) at Jun. 30, 2021

88,419,303

Balance at Dec. 31, 2020

$ 2,050,204

$ 86

1,683,165

(74,891)

(167,321)

1,441,039

609,165

Balance (in Shares) at Dec. 31, 2020

86,268,303

86,269,000

Balance (in Shares) at Sep. 30, 2021

88,451,668

Balance at Dec. 31, 2020

$ 2,050,204

$ 86

1,683,165

(74,891)

(167,321)

1,441,039

609,165

Balance (in Shares) at Dec. 31, 2020

86,268,303

86,269,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of Common Shares

$ 63,876

$ 3

63,873

63,876

Issuance of Common Shares (in Shares)

2,889,000

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

1,431

(1,431)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

90,000

Cancellation of OP Units

(568)

Dividends/distributions declared

(57,057)

(52,872)

(4,185)

Employee and trustee stock compensation, net

12,430

1,146

11,284

Employee and trustee stock compensation, net (in Shares)

56,000

Noncontrolling interest distributions

(27,051)

Noncontrolling interest contributions

30,164

Comprehensive (loss) income

77,937

38,677

23,548

62,225

15,712

Reallocation of noncontrolling interests

4,768

(4,768)

Balance at Dec. 31, 2021

$ 2,149,935

$ 89

$ 1,754,383

$ (36,214)

$ (196,645)

$ 1,521,613

$ 628,322

Balance (in Shares) at Dec. 31, 2021

89,303,545

89,304,000

Balance (in Shares) at Mar. 31, 2021

86,302,352

Balance (in Shares) at Jun. 30, 2021

88,419,303

Balance (in Shares) at Sep. 30, 2021

88,451,668

[1]	Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Stockholders Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.15	$ 0.29	$ 0.60	$ 0.29	$ 1.13

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 26,030	$ (65,718)	$ 23,234
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	123,439	147,229	122,580
Straight-line rents	(6,726)	(4,869)	(4,185)
Noncash lease expense	3,721	3,392	0
Net unrealized holding gains on investments	(51,925)	(72,391)	0
Distributions of operating income from unconsolidated affiliates	3,828	3,286	11,273
Equity in (earnings) losses of unconsolidated affiliates	(5,330)	3,057	(5,899)
Stock compensation expense	12,430	10,912	10,006
Amortization of financing costs	4,396	5,038	6,718
Impairment charges	9,925	85,598	1,721
Gain on disposition of properties	(10,521)	(683)	(30,324)
Allowance for credit loss	(2,796)	24,569	2,742
Termination of ground lease	(3,615)	0	0
Adjustments to straight-line rent reserves	2,682	21,871	1,961
Gain on debt extinguishment	0	(18,339)	0
Deferred gain on tax credits	0	0	(5,034)
Other, net	(5,304)	(8,155)	(11,575)
Changes in assets and liabilities:
Other liabilities	7,856	(3,959)	(4,850)
Lease liability - operating leases	(3,636)	(1,579)	2,014
Prepaid expenses and other assets	(7,427)	4	8,206
Rents receivable	7,384	(28,321)	1,089
Accounts payable and accrued expenses	572	3,005	1,705
Net cash provided by operating activities	104,983	103,947	131,382
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate	(161,846)	(21,208)	(319,673)
Acquisition of leasehold interests	0	0	(39,031)
Development, construction and property improvement costs	(40,671)	(36,579)	(89,385)
Proceeds from the disposition of properties, net	63,901	20,930	88,738
Investments in and advances to unconsolidated affiliates and other	(14,835)	(14,483)	(164,922)
Return of capital from unconsolidated affiliates and other	17,722	14,686	106,005
Issuance of notes receivable	(57,895)	(59,000)	(3,608)
Proceeds from notes receivable	0	0	15,250
Return of deposits for properties under contract	0	187	2,870
Payment of deferred leasing costs	(4,914)	(6,407)	(6,782)
Change in control of previously unconsolidated affiliate	0	950	0
Net cash used in investing activities	(198,538)	(100,924)	(410,538)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes	(98,602)	(51,949)	(158,211)
Principal payments on unsecured debt	(206,781)	(136,490)	(521,600)
Proceeds received on mortgage and other notes	56,847	5,351	324,995
Proceeds from unsecured debt	323,200	236,804	526,400
Payments of finance lease obligations	(63)	(903)	(2,749)
Proceeds from the sale (repurchase) of Common Shares	63,876	(22,386)	145,498
Capital contributions from noncontrolling interests	30,164	52,174	161,365
Distributions to noncontrolling interests	(30,410)	(31,461)	(101,364)
Dividends paid to Common Shareholders	(39,476)	(50,182)	(93,902)
Deferred financing and other costs	(7,436)	(2,215)	(6,476)
Net cash provided by financing activities	91,319	(1,257)	273,956
Increase (decrease) in cash and restricted cash	(2,236)	1,766	(5,200)
Cash of $14,149 and restricted cash of $13,880 beginning of period	29,795	28,029	33,229
Cash of $32,534 and restricted cash of $13,465 end of period	27,559	29,795	28,029
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $2,723 and $6,270 and $12,586 respectively	44,663	70,383	69,076
Cash paid for income taxes, net of (refunds)	147	(329)	730
Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the CECL implementation	0	400	0
Assumption of accounts payable and accrued expenses through acquisition of real estate	1,319	116	4,666
Note receivable exchanged for real estate	0	72,430	13,530
Acquisition of real estate through assumption of debt	31,801	0	0
Distribution declared and payable on October 15, 2021 and 2020, respectively	14,314	123	26,914
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities	0	(70,427)	16,349
Right-of-use assets, finance leases obtained in exchange for assets under capital lease	0	0	76,965
Right-of-use assets, operating leases exchanged for operating lease liabilities	412	33,189	57,165
Capital lease obligation exchanged for finance lease liability	0	0	71,111
Other liabilities exchanged for operating lease liabilities	0	0	946
Assumption of debt through investments in unconsolidated affiliates	0	0	4,688
Debt exchanged for deferred gain on tax credits	0	0	(5,262)
Other assets exchanged for deferred gain on tax credits	0	0	228
Settlement of note receivable through cancellation of OP Units	479	0	0
Right of use assets, operating leases terminated in exchange for finance lease liabilities	0	(1,432)	0
Change in control of previously unconsolidated (consolidated) investment
Increase in real estate	0	(135,190)	828
Decrease in investments in and advances to unconsolidated affiliates	0	96,816	(1,189)
Change in other assets and liabilities	0	1,238	12
Acquisition of noncontrolling interest asset	0	(588)	0
Decrease in notes receivable	0	38,674	0
Decrease in right-of-use assets, finance leases	0	0	11,051
Decrease in finance lease liability	0	0	(10,702)
Increase in cash and restricted cash upon change of control	$ 0	$ 950	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Cash Flows [Abstract]
Cash and Cash Equivalents at beginning balance	$ 18,699	$ 14,149	$ 20,074
Cash and Cash Equivalents at ending balance	17,746	18,699	14,149
Restricted cash, beginning balance	11,096	13,880	13,155
Restricted cash, ending balance	9,813	11,096	13,880
Cash paid for capitalized interest	$ 3,421	$ 7,110	$ 12,586

Organization, Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization, Basis of Presentation and Summary of Significant Accounting Policies

1. Organization, Basis of Presentation and Summary of Significant Accounting Policies

Organization

Acadia Realty Trust, a Maryland real estate investment trust (collectively with its subsidiaries, the “Company”) is a fully-integrated equity real estate investment trust (“REIT”) focused on the ownership, acquisition, development, and management of retail properties located primarily in high-barrier-to-entry, supply-constrained, densely-populated metropolitan areas in the United States.

All of the Company’s assets are held by, and all of its operations are conducted through, Acadia Realty Limited Partnership (the “Operating Partnership”) and entities in which the Operating Partnership owns an interest. As of December 31, 2021 and 2020, the Company controlled approximately 95% of the Operating Partnership as the sole general partner and is entitled to share, in proportion to its percentage interest, in the cash distributions and profits and losses of the Operating Partnership. The limited partners primarily represent entities or individuals that contributed their interests in certain properties or entities to the Operating Partnership in exchange for common or preferred units of limited partnership interest (“Common OP Units” or “Preferred OP Units”) and employees who have been awarded restricted Common OP Units (“LTIP Units”) as long-term incentive compensation (Note 14). Limited partners holding Common OP and LTIP Units are generally entitled to exchange their units on a one-for-one basis for common shares of beneficial interest, par value $0.001 per share of the Company (“Common Shares”). This structure is referred to as an umbrella partnership REIT or “UPREIT.”

As of December 31, 2021, the Company has ownership interests in 133 properties within its core portfolio, which consist of those properties either 100% owned, or partially owned through joint venture interests, by the Operating Partnership, or subsidiaries thereof, not including those properties owned through its funds (“Core Portfolio”). The Company also has ownership interests in 53 properties within its opportunity funds, Acadia Strategic Opportunity Fund II, LLC (“Fund II”), Acadia Strategic Opportunity Fund III LLC (“Fund III”), Acadia Strategic Opportunity Fund IV LLC (“Fund IV”), and Acadia Strategic Opportunity Fund V LLC (“Fund V” and collectively with Fund II, Fund III, and Fund IV, the “Funds”). The 186 Core Portfolio and Fund properties primarily consist of street and urban retail, and suburban shopping centers. In addition, the Company, together with the investors in the Funds, invested in operating companies through Acadia Mervyn Investors I, LLC (“Mervyns I,” which was liquidated in 2018) and Acadia Mervyn Investors II, LLC (“Mervyns II”), all on a non-recourse basis. The Company consolidates the Funds as it has (i) the power to direct the activities that most significantly impact the Funds’ economic performance, (ii) is obligated to absorb the Funds’ losses and (iii) has the right to receive benefits from the Funds that could potentially be significant.

The Operating Partnership is the sole general partner or managing member of the Funds and Mervyns II and earns fees or priority distributions for asset management, property management, construction, development, leasing, and legal services. Cash flows from the Funds and Mervyns II are distributed pro-rata to their respective partners and members (including the Operating Partnership) until each receives a certain cumulative return (“Preferred Return”) and the return of all capital contributions. Thereafter, remaining cash flow is distributed 20% to the Operating Partnership (“Promote”) and 80% to the partners or members (including the Operating Partnership). All transactions between the Funds and the Operating Partnership have been eliminated in consolidation.

The following table summarizes the general terms and Operating Partnership’s equity interests in the Funds and Mervyns II (dollars in millions):


Entity	Formation Date	Operating Partnership Share of Capital			Capital Called as of December 31, 2021 (b)		Unfunded Commitment (b, c)		Equity Interest Held By Operating Partnership (a)			Preferred Return			Total Distributions as of December 31, 2021 (b, c)
Fund II and Mervyns II (c)	6/2004		28.33	%	$	381.5	$	3.8		28.33	%		8	%	$	169.8
Fund III	5/2007		24.54	%		448.1		1.9		24.54	%		6	%		576.0
Fund IV	5/2012		23.12	%		488.1		41.9		23.12	%		6	%		193.1
Fund V (d)	8/2016		20.10	%		226.2		293.8		20.10	%		6	%		51.4

Amount represents the current economic ownership at December 31, 2021, which could differ from the stated legal ownership based upon the cumulative preferred returns of the respective Fund.

Represents the total for the Funds, including the Operating Partnership and noncontrolling interests’ shares.

During August 2020, a recallable distribution of $15.7 million was made by Mervyn’s II to its investors, of which $4.5 million was the Company’s share. During 2021, Mervyn’s II recalled $11.9 million of the $15.7 million of which our share is $3.4 million.

As of April 8, 2021, Fund V's investment period was extended to August 25, 2022.

Basis of Presentation

Segments

At December 31, 2021, the Company had three reportable operating segments: Core Portfolio, Funds and Structured Financing. The Company’s chief operating decision maker may review operational and financial data on a property-level basis and does not differentiate properties on a geographical basis for purposes of allocating resources or capital.

Principles of Consolidation

The consolidated financial statements include the consolidated accounts of the Company and its investments in partnerships and limited liability companies in which the Company has control in accordance with FASB Accounting Standards Codification Topic 810 “Consolidation.” The ownership interests of other investors in these entities are recorded as noncontrolling interests. All significant intercompany balances and transactions have been eliminated in consolidation. Investments in entities for which the Company has the ability to exercise significant influence over, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or losses) of these entities are included in consolidated net income (loss).

Use of Estimates

GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, revenue recognition and the collectability of notes receivable and rents receivable. Application of these estimates and assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.

Summary of Significant Accounting Policies

Real Estate

Land, buildings, and personal property are carried at cost less accumulated depreciation. Improvements and significant renovations that extend the useful life of the properties are capitalized, while replacements, maintenance, and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Real estate under development includes costs for significant property expansion and development.

Depreciation is computed on the straight-line basis over estimated useful lives of the assets as follows:


Buildings and improvements	Useful lives of 40 years for buildings and 15 years for improvements
Furniture and fixtures	Useful lives, ranging from five years to 10 years
Tenant improvements	Shorter of economic life or lease terms

Purchase Accounting – Upon acquisitions of real estate, the Company assesses the fair value of acquired assets and assumed liabilities (including land, buildings and improvements, and identified intangibles such as above- and below-market leases and acquired in-place leases) and assumed liabilities in accordance with ASC Topic 805, “Business Combinations” and ASC Topic 350 “Intangibles – Goodwill and Other,” and allocates the acquisition price based on these assessments. When acquisitions of properties do not meet the criteria for business combinations, they are accounted for as asset acquisitions; therefore, no goodwill is recorded and acquisition costs are capitalized.

The Company assesses fair value of its tangible assets acquired and assumed liabilities based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information at the measurement period. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property.

In determining the value of above- and below-market leases, the Company estimates the present value difference between contractual rent obligations and estimated market rate of leases at the time of the transaction. To the extent there were fixed-rate options at below-market rental rates, the Company included these periods along with the current term below-market rent in arriving at the fair value of the acquired leases. The discounted difference between contract and market rents is being amortized to rental income over the remaining applicable lease term, inclusive of any option periods.

In determining the value of acquired in-place leases, the Company considers market conditions at the time of the transaction and values the costs to execute similar leases during the expected lease-up period from vacancy to existing occupancy, including carrying costs. The value assigned

to in-place leases and tenant relationships is amortized over the estimated remaining term of the leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs (e.g. lease intangibles) relating to that lease would be written off.

The Company estimates the value of any assumption of mortgage debt based on market conditions at the time of acquisitions including prevailing interest rates, terms and ability to obtain financing for a similar asset. Mortgage debt discounts or premiums are amortized into interest expense over the remaining term of the related debt instrument.

Real Estate Under Development – The Company capitalizes certain costs related to the development of real estate. Interest and real estate taxes incurred during the period of the construction, expansion or development of real estate are capitalized and depreciated over the estimated useful life of the building. The Company will cease the capitalization of these costs when construction activities are substantially completed and the property is available for occupancy by tenants, but no later than one year from the completion of major construction activity at which time the project is placed in service and depreciation commences. If the Company suspends substantially all activities related to the development of a qualifying asset, the Company will cease capitalization of interest and taxes until activities are resumed.

Real Estate Impairment – The Company reviews its real estate, real estate under development and right-of-use assets for impairment when there is an event or a change in circumstances that indicates that the carrying amount may not be recoverable. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value. The determination of anticipated undiscounted cash flows is inherently subjective, requiring significant estimates made by management, and considers the most likely expected course of action at the balance sheet date based on current plans, intended holding periods and available market information. If the Company is evaluating the potential sale of an asset, the undiscounted future cash flows analysis is probability-weighted based upon management’s best estimate of the likelihood of the alternative courses of action as of the balance sheet date. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. If an impairment is indicated, an impairment loss is recognized based on the excess of the carrying amount of the asset over its estimated fair value. See Note 9 for information about impairment charges recorded during the periods presented.

Dispositions of Real Estate – The Company recognizes property sales in accordance with ASC Topic 610-20 “Other Income—Gains and losses from the derecognition of nonfinancial assets.” Sales of real estate include the sale of land, operating properties and investments in real estate joint ventures. Gains on sale of investment properties are recognized, and the related real estate derecognized, when the Company has satisfied its performance obligations by transferring control of the property. Typically, the timing of payment and satisfaction of performance obligations occur simultaneously on the disposition date upon transfer of the property’s ownership.

Real Estate Held for Sale – The Company generally considers assets to be held for sale when it has entered into a contract to sell the property, all material due diligence requirements have been satisfied, and management believes it is probable that the disposition will occur within one year. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost to sell.

Notes Receivable

Notes receivable include certain loans that are held for investment and are collateralized by real estate-related investments and may be subordinate to other senior loans. Notes receivable are reported net of allowance for credit loss and are recorded at stated principal amounts or at initial investment less accretive yield for loans purchased at a discount, which is accreted over the life of the note. The Company defers loan origination and commitment fees, net of origination costs, and amortizes them over the term of the related loan. Changes in cash flows from previous estimates are included in future interest income on a prospective basis and a new effective interest rate is computed based on the current cost basis of the instrument and remaining cash flows. The Company evaluates the collectability of both principal and interest based upon an assessment of the underlying collateral value to determine whether it is impaired. Allowance for credit loss represents management’s estimate of future losses based on national historical economic loss rates for similar obligations, management’s estimate of future economic impacts and factors specific to the borrower. Certain of the Company’s loans are considered “collateral dependent” in that settlement of the amount is likely to be achieved by obtaining access to the collateral (e.g. notes in default). The same valuation techniques are used to value the collateral for such collateral dependent instruments as those used to determine the fair value of real estate investments for impairment purposes. Given the small number of notes outstanding, the Company believes the characteristics of its notes are not sufficiently similar to allow an evaluation as a group for credit loss allowance. As such, all of the Company’s notes are evaluated individually for this purpose. Interest income on performing notes is accrued as earned. A note is placed on non-accrual status when, based upon current information and events, it is probable that the Company will not be able to collect all amounts due according to the existing contractual terms. Income accrual is generally suspended for loans when recovery of income and principal becomes doubtful. Interest received is then recorded as a reduction in the outstanding principal balance until the accrual is resumed when it is probable that the Company will be able to collect amounts due according to the contractual terms of the notes.

Investments in and Advances to Unconsolidated Joint Ventures

Some of the Company’s joint ventures obtain non-recourse third-party financing on their property investments, contractually limiting the Company’s exposure to losses. The Company recognizes income for distributions in excess of its investment where there is no recourse to the Company and no intention or obligation to contribute additional capital. For investments in which there is recourse to the Company or an obligation or intention to contribute additional capital exists, distributions in excess of the investment are recorded as a liability.

When characterizing distributions from equity investees within the Company's consolidated statements of cash flows, all distributions received are first applied as returns on investment to the extent there are cumulative earnings related to the respective investment and are classified as cash inflows from operating activities. If cumulative distributions are in excess of cumulative earnings, distributions are considered return of investment. In such cases, the distribution is classified as cash inflows from investing activities.

To the extent that the Company’s carrying basis in an unconsolidated affiliate is different from the basis reflected at the joint venture level, the basis difference is amortized over the life of the related assets and included in the Company’s share of equity in earnings (losses) of unconsolidated affiliates the joint venture.

The Company periodically reviews its investments in unconsolidated joint ventures for other-than-temporary losses in investment value. Any decline that is not expected to be recovered based on the underlying assets of the investment, is considered other than temporary and an impairment charge is recorded as a reduction in the carrying value of the investment. During the periods presented there were no impairment charges related to the Company’s investments in unconsolidated joint ventures.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the limits insured by the Federal Deposit Insurance Corporation.

Restricted Cash

Restricted cash consists principally of cash held for real estate taxes, construction costs, property maintenance, insurance, minimum occupancy and property operating income requirements at specific properties as required by certain loan agreements.

Deferred Costs

External fees and costs paid in the successful negotiation of leases are deferred and amortized on a straight-line basis over the terms of the respective leases. External fees and costs incurred in connection with obtaining financing are deferred and amortized as a component of interest expense over the term of the related debt obligation on a straight-line basis, which approximates the effective interest method.

Derivative Instruments and Hedging Activities

The Company measures derivative instruments at fair value and records them as assets or liabilities, depending on its rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Accumulated other comprehensive loss until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings.

Although the Company's derivative contracts are subject to master netting arrangements, which serve as credit mitigants to both the Company and its counterparties under certain situations, the Company does not net its derivative fair values or any existing rights or obligations to cash collateral on the consolidated balance sheets. The Company does not use derivatives for trading or speculative purposes. For the periods presented, all of the Company's derivatives qualified and were designated as cash flow hedges, and none of its derivatives were deemed ineffective.

Noncontrolling Interests

Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates. The Company identifies its noncontrolling interests separately within the equity section on the Company’s consolidated balance sheets. The amounts of consolidated net

earnings attributable to the Company and to the noncontrolling interests are presented separately on the Company’s consolidated statements of operations. Noncontrolling interests also include amounts related to common and preferred OP Units issued to unrelated third parties in connection with certain property acquisitions. In addition, the Company periodically issues common OP Units and LTIPs to certain employees of the Company under its share-based incentive program. Unit holders generally have the right to redeem their units for Common Shares subject to blackout and other limitations. Common and restricted OP Units are included in the caption Noncontrolling interest within the equity section on the Company’s consolidated balance sheets.

Revenue Recognition and Accounts Receivable

The Company accounts for its leases under ASC 842. Pursuant to ASC 842, the Company has made an accounting policy election to not separate the non-lease components from its leases, such as common area maintenance, and has accounted for each of its leases as a single lease component. In addition, the Company has elected to account only for those taxes that it pays on behalf of the tenant as reimbursable costs and will not account for those taxes paid directly by the tenant. Minimum rents from tenants are recognized using the straight-line method over the non-cancelable lease term of the respective leases. Lease termination fees are recognized upon the effective termination of a tenant’s lease when the Company has no further obligations under the lease. As of December 31, 2021 and 2020, unbilled rents receivable relating to the straight-lining of rents of $43.4 million and $40.2 million, respectively, are included in Rents Receivable, net on the accompanying consolidated balance sheets. Certain of these leases also provide for percentage rents based upon the level of sales achieved by the tenant. Percentage rent is recognized in the period when the tenants’ sales breakpoint is met. In addition, leases typically provide for the reimbursement to the Company of real estate taxes, insurance and other property operating expenses. These reimbursements are recognized as revenue in the period the related expenses are incurred.

The Company assesses the collectability of its accounts receivable related to tenant revenues under ASC 842. The Company estimates the collectability of the accounts receivable related to billed rents, straight-line rents, recoveries from tenants, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. Rents receivable at December 31, 2021 and 2020 are shown net of an allowance for doubtful accounts of $38.5 million and $45.0 million, respectively. Rental income for the years ended December 31, 2021, 2020 and 2019 are reported net of adjustments of $0.1 million, $46.4 million (reflecting additional reserves, net of write-offs and recoveries due to the impact of the COVID-19 Pandemic, see Note 12) and $4.5 million respectively, to allowance for doubtful accounts.

Stock-Based Compensation

Stock-based compensation expense for all equity-classified stock-based compensation awards is based on the grant date fair value estimated in accordance with current accounting guidance for share-based payments. The Company recognizes these compensation costs for only those shares or units expected to vest on a straight-line or graded-vesting basis, as appropriate, over the requisite service period of the award. The Company includes stock-based compensation within general and administrative expense on the consolidated statements of operations.

Income Taxes

The Company has made an election to be taxed, and believes it qualifies, as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”). To maintain REIT status for Federal income tax purposes, the Company is generally required to distribute at least 90% of its REIT taxable income to its shareholders as well as comply with certain other income, asset and organizational requirements as defined in the Code. Accordingly, the Company is generally not subject to Federal corporate income tax to the extent that it distributes 100% of its REIT taxable income each year.

The Company is permitted to participate in certain activities and still maintain its qualification as a REIT, so long as these activities are conducted in entities that elect to be treated as taxable subsidiaries under the Code. As such, the Company is subject to Federal and state income taxes on the income from these activities.

Although it may qualify for REIT status for federal income tax purposes, the Company is subject to state or local income or franchise taxes in certain jurisdictions in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s Taxable REIT Subsidiary (“TRS”) is fully subject to federal, state and local income taxes.

The Company accounts for TRS income taxes under the liability method as required by ASC Topic 740, “Income Taxes.” Under the liability method, deferred income taxes are recognized for the temporary differences between the GAAP basis and tax basis of the TRS income, assets and liabilities.

The recently enacted Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) temporarily relaxes existing limitations on the use and carryback of net operating losses incurred by our TRSs. Net operating losses generated in taxable years beginning in 2019, 2020 or 2021 can be carried back to the preceding 5 years. In addition, TRSs can fully offset their taxable income for taxable years beginning before 2022 using net operating loss carrybacks and carryforwards and can fully offset their taxable income for taxable years beginning after 2021 using pre-2019 net operating loss carryforwards. Any post-2018 net operating loss carryforwards can be used to offset up to 80% of taxable income after using pre-2019 net operating loss carryforwards. In 2020, the Company carried back $3.1 million of net operating losses, resulting in a refund of $1.0 million.

The Company records net deferred tax assets to the extent it believes it is more likely than not that these assets will be realized. In 2019 and 2020, the Company recorded valuation allowances to reduce deferred tax assets when it determined that an uncertainty existed regarding their realization, which increased the provision for income taxes. In making such determination, the Company considered all available positive and negative evidence, including forecasts of future taxable income, the reversal of other existing temporary differences, available net operating loss carry-forwards, tax planning strategies and recent results of operations. Several of these considerations require assumptions and significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates that the Company is utilizing to manage its business. To the extent facts and circumstances change in the future, further adjustments to the valuation allowances may be required.

Recently Adopted Accounting Pronouncements

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes. The amendments in this Update provide guidance for interim period and intra period tax accounting; provide tax accounting guidance for foreign subsidiaries; require that an entity recognize a franchise (or similar) tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax; as well as other changes to tax accounting. This ASU is effective for fiscal years beginning after December 15, 2020. As a REIT, the Company usually does not have significant income taxes. Accordingly, the implementation of this guidance did not have a material effect on the Company’s consolidated financial statements.

In January 2020, the FASB issued ASU 2020-01 Investments—Equity securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815. The amendments in this Update affect all entities that apply the guidance in Topics 321, 323, and 815 and (i) elect to apply the measurement alternative or (ii) enter into a forward contract or purchase an option to purchase securities that, upon settlement of the forward contract or exercise of the purchased option, would be accounted for under the equity method of accounting. This ASU is effective for fiscal years beginning after December 15, 2020. Currently, the Company does not apply the measurement alternative and does not have any such forward contracts or purchase options. As a result, the implementation of this guidance did not have any effect on the Company’s consolidated financial statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Effective in the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation and did not have a material impact on the consolidated financial statements. The Company has been incorporating alternate rates into its debt agreements as they mature and does not anticipate the need to modify any existing debt agreements solely as a result of reference rate reform. If any modification is executed as a result of reference rate reform, the Company will elect the optional practical expedient under ASU 2020-04 and 2021-01, which allows entities to account for the modification as if the modification was not substantial. As a result, the implementation of this guidance is not expected to have any effect on the Company’s consolidated financial statements.

In October 2020, the FASB issued ASU 2020-08 Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs. The amendments in this Update clarify that an entity should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early application is not permitted. Currently, the Company does not have any such callable debt securities. As a result, the implementation of this guidance did not have any effect on the Company’s consolidated financial statements.

On April 8, 2020, the FASB issued a Q&A allowing for reporting entities to make an accounting policy election to account for lease concessions related to the effects of COVID-19 consistent with how those concessions would be accounted for under Topic 842, which is as though the enforceable rights and obligations for those concessions existed regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract. This election is available for concessions that result in the total cash flows required by the modified contract being substantially the same or less than total cash flows required by the original contract. Effective April 1, 2020, the Company made the accounting

policy election noted above. The Company entered into concession agreements as lessor during the year ended December 31, 2021 (Note 12). The Company may grant further concessions during subsequent periods.

Recently Issued Accounting Pronouncements

In August 2020, the FASB issued ASU 2020-06—Debt with conversion and other options (Subtopic 470-20) and derivatives and hedging—contracts in entity's own equity (Subtopic 815-40)—accounting for convertible instruments and contracts in an entity's own equity. This ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU simplifies accounting for convertible instruments and simplifies the diluted earnings per share (EPS) calculation in certain areas. This ASU is effective for fiscal years beginning after December 15, 2021. Currently, the Company does not have any such debt instruments and, as a result, the implementation of this guidance is not expected to have a material effect on the Company’s consolidated financial statements.

In January 2021, the FASB issued ASU 2021-01 Reference Rate Reform (Topic 848) which modifies ASC 848 (ASU 2020-04 discussed above), which was intended to provide relief related to “contracts and transactions that reference LIBOR or a reference rate that is expected to be discontinued as a result of reference rate reform.” ASU 2021-01 expands the scope of ASC 848 to include all affected derivatives and give reporting entities the ability to apply certain aspects of the contract modification and hedge accounting expedients to derivative contracts affected by the discounting transition. ASU 2021-01 also adds implementation guidance to clarify which optional expedients in ASC 848 may be applied to derivative instruments that do not reference LIBOR or a reference rate that is expected to be discontinued, but that are being modified as a result of the discounting transition. The Company does not currently have any applicable derivatives. As a result, the implementation of this guidance is not expected to have any effect on the Company's consolidated financial statements.

In May 2021, the FASB issued ASU 2021-04 Modification of Equity-Classified Written Call Options — Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options — to codify how an issuer should account for modifications made to equity-classified written call options (a warrant to purchase the issuer’s common stock). The guidance in the ASU requires the issuer to treat a modification of an equity-classified warrant that does not cause the warrant to become liability-classified as an exchange whether structured as an amendment or reissuance and is effective for all periods beginning after December 15, 2021 with early application permitted. The Company does not currently have any outstanding equity awards with written call options. As a result, the implementation of this guidance is not expected to have any effect on the Company’s consolidated financial statements.

In July 2021, the FASB issued ASU 2021-05 Leases (Topic 842): Lessors — Certain Leases with Variable Lease Payments. This Update requires a lessor to classify a lease with entirely or partially variable payments that do not depend on an index or rate as an operating lease if another classification (i.e. sales-type or direct financing) would trigger a commencement date selling loss. The guidance in the ASU is effective for all periods beginning after December 15, 2021 with early application permitted and may be applied either retrospectively or prospectively. The Company does not currently have any sales-type or direct financing leases as lessor. As a result, the implementation of this guidance is not expected to have any effect on the Company’s consolidated financial statements.

In November 2021, the FASB issued ASU 2021-08 Business Combinations (Topic ASC 805) — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This update provides an exception to the fair value measurement for contract assets and contract liabilities acquired in a business combination. Instead, they will be recognized and measured by the acquirer in accordance with ASC 606, Revenue from Contracts with Customers. The guidance in this ASU is effective for all periods beginning after December 15, 2022, with early adoption permitted and must be applied prospectively. The Company does not expect this amendment to have a material effect on the Company's consolidated financial statements as most of the Company's acquisitions of properties do not meet the criteria for business combinations and are accounted for as asset acquisitions, which are excluded from the scope of this amendment.

Restatement

12 Months Ended

Dec. 31, 2021

Accounting Standards Update and Change in Accounting Principle [Abstract]

Restatement

2. Restatement of Previously Issued Consolidated Financial Statements

As announced on February 15, 2022, the Company has restated its (i) audited consolidated financial statements as of and for the years ended December 31, 2020 and 2019 as illustrated in this note to the consolidated financial statements; and (ii) its unaudited interim financial statements for the three months ended March 31, 2021 and 2020, the three and six months ended June 30, 2021 and 2020, the three and nine months ended September 30, 2021 and 2020, and the three months ended December 31, 2020 as illustrated in Note 17; collectively referred to as the "Restatement". Amounts depicted as "As Restated" throughout the accompanying consolidated financial statements and footnotes include the impact of the Restatement.

As part of the Company’s normal annual reporting process prior to releasing its 2021 fourth quarter and year-to-date December 31, 2021 results and prior to completion of the related audit, the Company identified two areas of restatement errors. All adjustments depicted in the tables below relate to one of the following categories:

(a)

an error in accounting treatment at the time of formation related to the improper consolidation of two Fund investments that are less-than-wholly-owned through the Company's opportunity funds (the "Fund Investments"). These two Fund Investments, 640 Broadway and Paramus Plaza, which were formed in 2012 and 2013, respectively, have been adjusted from consolidated investments to investments in unconsolidated affiliates (Note 5) with no impact on net income (loss) or distributions in excess of accumulated earnings. It should also be noted that during the Restatement periods, the Fund Investments did not have any significant transactions (new borrowings, acquisitions, or dispositions) other than their ongoing rental operations in the normal course of business.

(b)

errors related to other immaterial previously unrecorded adjustments, which were also recorded as part of the Restatement. These adjustments were primarily adjustments which the Company deemed immaterial in prior periods. The total impact of these adjustments for the years ended December 31, 2020 and 2019 was a reduction in net income (loss) attributable to Acadia of ($0.2) million or ($0.01) per share, and $0.7 million, or $0.01 per share, respectively. These adjustments include the recognition of additional reserves for one of the Company's notes receivable, 640 Broadway (Note 4) of $0.6 million. or $0.1 million at the Company's share, for the year ended December 31, 2020.

(c)

reclassifications of certain prior period amounts to conform to the current period presentation. Reclassifications have no impact on net income (loss), do not relate to the Restatement errors and are included here in order to conform the presentation across the periods presented.

On the balance sheet at December 31, 2020, Unsecured notes payable, net of $79.2 million were reclassified to mortgage and other notes payable, net. On the balance sheet at December 31, 2019, $60.0 million was reclassified from Operating real estate, net to Right-of-use assets - operating leases, net and the corresponding Lease liability - operating leases, net of $58.0 million was reclassified from Accounts payable and other liabilities.

ii.

On the statement of cash flows for the year ended December 31, 2019, Straight-line rents of ($5.2) million, Allowance for credit loss of $2.7 million and Adjustments to straight-line rent reserves of $1.8 million were all reclassified from the change in Rents receivable.


	December 31, 2020
(dollars in thousands, except per share amounts)	As Reported		Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,260,139	$	(69,378	)	(a)	$	3,190,761
Real estate under development		247,349		(148	)	(a)		247,201
Net investments in real estate		3,507,488		(69,526	)			3,437,962
Notes receivable, net		101,450		(568	)	(b)		100,882
Investments in and advances to unconsolidated affiliates		249,807		23,022		(a,b)		272,829
Other assets, net		173,809		(3,528	)	(a)		170,281
Right-of-use assets - operating leases, net		76,268		—				76,268
Cash and cash equivalents		19,232		(533	)	(a)		18,699
Restricted cash		14,692		(3,596	)	(a)		11,096
Rents receivable, net		44,136		(1,084	)	(a)		43,052
Total assets	$	4,186,882	$	(55,813	)		$	4,131,069

LIABILITIES
Mortgage and other notes payable, net	$	1,125,356	$	23,230		(a,b,c)	$	1,148,586


Unsecured notes payable, net		500,083			(79,225	)	(c)		420,858
Unsecured line of credit		138,400			—				138,400
Accounts payable and other liabilities		269,911			(1,469	)	(a)		268,442
Lease liability - operating leases, net		88,816			—				88,816
Dividends and distributions payable		147			—				147
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,616			—				15,616
Total liabilities		2,138,329			(57,464	)			2,080,865
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,268,303 shares		86			—				86
Additional paid-in capital		1,683,165			—				1,683,165
Accumulated other comprehensive loss		(74,891	)		—				(74,891	)
Distributions in excess of accumulated earnings		(167,046	)		(275	)	(b)		(167,321	)
Total Acadia shareholders’ equity		1,441,314			(275	)			1,441,039
Noncontrolling interests		607,239			1,926		(a,b)		609,165
Total equity		2,048,553			1,651				2,050,204
Total liabilities and equity	$	4,186,882		$	(55,813	)		$	4,131,069


	Year Ended December 31, 2020
(in thousands except per share amounts)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	251,002		$	(4,570	)	(a)	$	246,432
Other		4,482			(6	)	(a)		4,476
Total revenues		255,484			(4,576	)			250,908
Operating expenses
Depreciation and amortization		149,793			(2,564	)	(a)		147,229
General and administrative		36,055			(257	)	(a)		35,798
Real estate taxes		43,505			(1,028	)	(a)		42,477
Property operating		56,595			(1,044	)	(a)		55,551
Impairment charges		85,598			—				85,598
Total operating expenses		371,546			(4,893	)			366,653

Gain on disposition of properties		683			—				683
Operating loss		(115,379	)		317				(115,062	)
Equity in losses of unconsolidated affiliates		(1,237	)		(1,820	)	(a)		(3,057	)
Interest and other income		8,979			—				8,979
Realized and unrealized holding gains on investments and other		113,930			(568	)	(b)		113,362
Interest expense		(72,060	)		2,389		(a,b)		(69,671	)
Loss from continuing operations before income taxes		(65,767	)		318				(65,449	)
Income tax provision		(271	)		2		(a)		(269	)
Net loss		(66,038	)		320				(65,718	)
Net loss attributable to noncontrolling interests		57,279			(537	)	(a,b)		56,742
Net loss attributable to Acadia	$	(8,759	)	$	(217	)		$	(8,976	)
Net income attributable to participating securities	$	233		$	—			$	233
Shares for basic loss per share		86,442			—				86,442

Basic loss per share	$	(0.10	)	$	(0.01	)		$	(0.11	)


	Year Ended December 31, 2020
(in thousands)	As Reported			Adjustments				As Restated

Net loss	$	(66,038	)	$	320			$	(65,718	)
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(74,236	)		550		(a)		(73,686	)
Reclassification of realized interest on swap agreements		15,203			(144	)	(a)		15,059
Other comprehensive loss		(59,033	)		406				(58,627	)
Comprehensive loss		(125,071	)		726				(124,345	)
Comprehensive loss attributable to noncontrolling interests		72,596			(644	)			71,952
Loss attributable to Acadia	$	(52,475	)	$	82			$	(52,393	)


Statement of Changes in Shareholders' Equity - Year Ended December 31, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts)	Common Shares			Share Amount			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2020		87,050		$	87		$	1,706,357		$	(31,175	)	$	(132,961	)	$	1,542,308		$	644,657			$	2,186,965
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Acquisition of noncontrolling interest		—			—			(15,330	)		—			—			(15,330	)		15,918				588
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(2,218	)			(27,155	)
Employee and trustee stock compensation, net		30			—			782			—			—			782			10,130				10,912
Noncontrolling interest distributions		—			—			—			—			—			—			(27,574	)			(27,574	)
Noncontrolling interest contributions		—			—			—			—			—			—			52,674				52,674
Comprehensive loss		—			—			—			(43,716	)		(8,759	)		(52,475	)		(72,596	)			(125,071	)
Reallocation of noncontrolling interests		—			—			7,197			—			—			7,197			(7,197	)			—
Balance at December 31, 2020		86,269		$	86		$	1,683,165		$	(74,891	)	$	(167,046	)	$	1,441,314		$	607,239			$	2,048,553
Adjustments
Balance at January 1, 2020		—			—			—		$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
Noncontrolling interest contributions		—			—			—			—			—			—			(500	)	(a)		(500	)
Comprehensive loss		—			—			—			299			(217	)		82			644				726
Total Adjustments		—		$	—		$	—		$	—		$	(275	)		(275	)		1,926				1,651
As Restated
Balance at January 1, 2020 - As Restated		87,050		$	87		$	1,706,357		$	(31,474	)	$	(133,019	)	$	1,541,951		$	646,439			$	2,188,390
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Acquisition of noncontrolling interest		—			—			(15,330	)		—			—			(15,330	)		15,918				588
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(2,218	)			(27,155	)
Employee and trustee stock compensation, net		30			—			782			—			—			782			10,130				10,912
Noncontrolling interest distributions		—			—			—			—			—			—			(27,574	)			(27,574	)
Noncontrolling interest contributions		—			—			—			—			—			—			52,174				52,174
Comprehensive loss		—			—			—			(43,417	)		(8,976	)		(52,393	)		(71,952	)			(124,345	)
Reallocation of noncontrolling interests		—			—			7,197			—			—			7,197			(7,197	)			—
Balance at December 31, 2020 -As Restated		86,269		$	86		$	1,683,165		$	(74,891	)	$	(167,321	)	$	1,441,039		$	609,165			$	2,050,204


	Year Ended December 31, 2020
(in thousands)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(66,038	)		320			$	(65,718	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		149,793			(2,564	)	(a,b)		147,229
Straight-line rents		(5,096	)		227		(a)		(4,869	)
Non-cash lease expense		3,392			—				3,392
Net unrealized holding gains on investments		(72,391	)		—				(72,391	)
Distributions of operating income from unconsolidated affiliates		3,286			—				3,286
Equity in (earnings) losses of unconsolidated affiliates		1,237			1,820		(a)		3,057
Stock compensation expense		10,912			—				10,912
Amortization of financing costs		5,169			(131	)	(a,b)		5,038
Impairment charges		85,598			—		(b)		85,598
Gain on disposition of properties		(683	)		—				(683	)
Allowance for credit loss		24,770			(201	)	(a)		24,569
Adjustments to straight-line rent reserves		22,074			(203	)	(a)		21,871
Gain on debt extinguishment		(18,339	)		—				(18,339	)
Other, net		(8,753	)		598		(a,b)		(8,155	)
Changes in assets and liabilities:
Other liabilities		(4,208	)		249		(a)		(3,959	)
Lease liability - operating leases		(1,579	)		—				(1,579	)
Prepaid expenses and other assets		32			(28	)	(a)		4
Rents receivable		(29,810	)		1,489		(a)		(28,321	)
Accounts payable and accrued expenses		3,199			(194	)	(a)		3,005
Net cash provided by operating activities		102,565			1,382				103,947
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(21,208	)		—				(21,208	)
Development, construction and property improvement costs		(40,483	)		3,904		(a)		(36,579	)
Proceeds from the disposition of properties, net		20,930			—				20,930
Investments in and advances to unconsolidated affiliates and other		(4,291	)		(10,192	)	(a)		(14,483	)
Return of capital from unconsolidated affiliates and other		14,686			—				14,686
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		187			—				187
Payment of deferred leasing costs		(7,979	)		1,572		(a)		(6,407	)
Change in control of previously unconsolidated affiliate		950			—				950
Net cash used in investing activities		(96,208	)		(4,716	)			(100,924	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(55,449	)		3,500		(a)		(51,949	)
Principal payments on unsecured debt		(136,490	)		—				(136,490	)
Proceeds received on mortgage and other notes		7,261			(1,910	)	(a)		5,351
Proceeds from unsecured debt		236,804			—				236,804
Payments of finance lease obligations		(903	)		—				(903	)
Proceeds from the sale (repurchase) of Common Shares		(22,386	)		—				(22,386	)
Capital contributions from noncontrolling interests		52,674			(500	)	(a)		52,174
Distributions to noncontrolling interests		(31,461	)		—				(31,461	)
Dividends paid to Common Shareholders		(50,182	)		—				(50,182	)
Deferred financing and other costs		(2,311	)		96		(a)		(2,215	)
Net cash used in financing activities		(2,443	)		1,186				(1,257	)
Increase in cash and restricted cash		3,914			(2,148	)			1,766
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $18,699 and restricted cash of $11,096 end of period	$	33,924		$	(4,129	)		$	29,795


	Year Ended December 31, 2020
(in thousands)	As Reported			Adjustments				As Restated
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $7,110	$	72,392		$	(2,009	)	(a)	$	70,383
Cash paid for income taxes, net of (refunds)	$	(329	)	$	—			$	(329	)

Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL	$	400		$	—			$	400
Assumption of accounts payable and accrued expenses through acquisition of real estate	$	116		$	—			$	116
Note receivable exchanged for real estate	$	72,430		$	—			$	72,430
Acquisition of real estate through assumption of debt	$	—		$	—			$	—
Distribution declared and payable	$	—		$	123		(c)	$	123
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities	$	(70,427	)	$	—			$	(70,427	)
Right-of-use assets, finance leases obtained in exchange for assets under capital lease	$	—		$	—			$	—
Right-of-use assets, operating leases exchanged for operating lease liabilities	$	33,189		$	—			$	33,189
Capital lease obligation exchanged for finance lease liability	$	—		$	—			$	—
Other liabilities exchanged for operating lease liabilities	$	—		$	—			$	—
Assumption of debt through investments in unconsolidated affiliates	$	—		$	—			$	—
Debt exchanged for deferred gain on tax credits	$	—		$	—			$	—
Other assets exchanged for deferred gain on tax credits	$	—		$	—			$	—
Settlement of note receivable through cancellation of OP Units	$	—		$	—			$	—
Right of use assets, operating leases terminated in exchange for finance lease liabilities	$	(1,432	)	$	—			$	(1,432	)

Change in control of previously unconsolidated (consolidated) investment
Increase in real estate	$	(135,190	)	$	—			$	(135,190	)
Decrease in investments in and advances to unconsolidated affiliates		96,816			—				96,816
Change in other assets and liabilities		1,238			—				1,238
Acquisition of noncontrolling interest asset		(588	)		—				(588	)
Decrease in notes receivable		38,674			—				38,674
Decrease in right-of-use assets, finance leases		—			—				—
Decrease in finance lease liability		—			—				—
Increase in cash and restricted cash upon change of control	$	950		$	—			$	950


	December 31, 2019
(dollars in thousands, except per share amounts)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,355,913		$	(127,888	)	(a,b,c)	$	3,228,025
Real estate under development		253,402			(6	)	(a)		253,396
Net investments in real estate		3,609,315			(127,894	)			3,481,421
Notes receivable, net		114,943			—		(b)		114,943
Investments in and advances to unconsolidated affiliates		305,097			14,453		(a,b)		319,550
Other assets, net		190,658			(2,225	)	(a)		188,433
Right-of-use assets - operating leases, net		—			60,006		(c)		60,006
Cash and cash equivalents		15,845			(1,696	)	(a)		14,149
Restricted cash		14,165			(285	)	(a)		13,880
Rents receivable, net		59,091			222		(a)		59,313
Total assets	$	4,309,114		$	(57,419	)		$	4,251,695

LIABILITIES
Mortgage and other notes payable, net	$	1,170,076		$	(57,551	)	(a,b)	$	1,112,525
Unsecured notes payable, net		477,320			—				477,320
Unsecured line of credit		60,800			—				60,800
Accounts payable and other liabilities		371,516			(58,055	)	(a,c)		313,461
Lease liability - operating leases, net		—			56,762		(c)		56,762
Dividends and distributions payable		27,075			—				27,075
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,362			—				15,362
Total liabilities		2,122,149			(58,844	)			2,063,305
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 87,050,465 shares		87			—				87
Additional paid-in capital		1,706,357			—				1,706,357
Accumulated other comprehensive loss		(31,175	)		(299	)	(b)		(31,474	)
Distributions in excess of accumulated earnings		(132,961	)		(58	)	(b)		(133,019	)
Total Acadia shareholders’ equity		1,542,308			(357	)			1,541,951
Noncontrolling interests		644,657			1,782		(a,b)		646,439
Total equity		2,186,965			1,425				2,188,390
Total liabilities and equity	$	4,309,114		$	(57,419	)		$	4,251,695


	Year Ended December 31, 2019
(in thousands except per share amounts)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	291,190		$	(5,720	)	(a,b)	$	285,470
Other		4,137			(22	)	(a)		4,115
Total revenues		295,327			(5,742	)			289,585
Operating expenses
Depreciation and amortization		125,443			(2,863	)	(a,b)		122,580
General and administrative		35,416			(1,117	)	(a,b)		34,299
Real estate taxes		39,315			(982	)	(a)		38,333
Property operating		51,153			(1,255	)	(a)		49,898
Impairment charges		1,721			—				1,721
Total operating expenses		253,048			(6,217	)			246,831

Gain on disposition of properties		30,324			—				30,324
Operating income		72,603			475				73,078
Equity in earnings of unconsolidated affiliates		8,922			(3,023	)	(a)		5,899
Interest and other income		7,988			—				7,988
Realized and unrealized holding gains on investments and other		6,947			—		(b)		6,947
Interest expense		(73,788	)		4,575		(a,b)		(69,213	)
Income from continuing operations before income taxes		22,672			2,027				24,699
Income tax provision		(1,468	)		3		(a)		(1,465	)
Net income		21,204			2,030				23,234
Net loss attributable to noncontrolling interests		31,841			(1,358	)	(a,b)		30,483
Net income attributable to Acadia	$	53,045		$	672			$	53,717
Net income attributable to participating securities	$	413		$	—			$	413
Shares for basic and diluted income per share		84,436			—				84,436

Basic and diluted income per share	$	0.62		$	0.01			$	0.63


	Year Ended December 31, 2019
(in thousands)	As Reported			Adjustments				As Restated

Net income	$	21,204		$	2,030			$	23,234
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(35,674	)		(209	)	(a)		(35,883	)
Reclassification of realized interest on swap agreements		(872	)		2		(a)		(870	)
Other comprehensive loss		(36,546	)		(207	)			(36,753	)
Comprehensive loss		(15,342	)		1,823				(13,519	)
Comprehensive loss attributable to noncontrolling interests		36,696			(1,450	)			35,246
Comprehensive Income attributable to Acadia	$	21,354		$	373			$	21,727


Statement of Changes in Shareholders' Equity - Year Ended December 31, 2019
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2019		81,557	$	82	$	1,548,603	$	516		$	(89,696	)	$	1,459,505		$	622,442			$	2,081,947
Issuance of Common Shares		5,164		5		145,493		—			—			145,498			—				145,498
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		308		—		5,104		—			—			5,104			(5,104	)			—
Dividends/distributions declared ($1.13 per Common Share/OP Unit)		—		—		—		—			(96,310	)		(96,310	)		(7,124	)			(103,434	)
Employee and trustee stock compensation, net		21		—		546		—			—			546			10,411				10,957
Noncontrolling interest distributions		—		—		—		—			—			—			(94,289	)			(94,289	)
Noncontrolling interest contributions		—		—		—		—			—			—			161,628				161,628
Comprehensive loss		—		—		—		(31,691	)		53,045			21,354			(36,696	)			(15,342	)
Reallocation of noncontrolling interests		—		—		6,611		—			—			6,611			(6,611	)			—
Balance at December 31, 2019		87,050	$	87	$	1,706,357	$	(31,175	)	$	(132,961	)	$	1,542,308		$	644,657			$	2,186,965
Adjustments
Balance at January 1, 2019		—	$	—	$	—	$	—		$	(730	)	$	(730	)	$	1,540			$	810
Employee and trustee stock compensation, net		—		—		—		—			—			—			(951	)	(b)		(951	)
Noncontrolling interest distributions		—		—		—		—			—			—			6		(a)		6
Noncontrolling interest contributions		—		—		—		—			—			—			(263	)	(a)		(263	)
Comprehensive loss		—		—		—		(299	)		672			373			1,450		(a,b)		1,823
Total Adjustments		—	$	—	$	—	$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
As Restated
Balance at January 1, 2019 - As Restated		81,557	$	82	$	1,548,603	$	516		$	(90,426	)	$	1,458,775		$	623,982			$	2,082,757
Issuance of Common Shares		5,164		5		145,493		—			—			145,498			—				145,498
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		308		—		5,104		—			—			5,104			(5,104	)			—
Dividends/distributions declared ($1.13 per Common Share/OP Unit)		—		—		—		—			(96,310	)		(96,310	)		(7,124	)			(103,434	)
Employee and trustee stock compensation, net		21		—		546		—			—			546			9,460				10,006
Noncontrolling interest distributions		—		—		—		—			—			—			(94,283	)			(94,283	)
Noncontrolling interest contributions		—		—		—		—			—			—			161,365				161,365
Comprehensive loss		—		—		—		(31,990	)		53,717			21,727			(35,246	)			(13,519	)
Reallocation of noncontrolling interests		—		—		6,611		—			—			6,611			(6,611	)			—
Balance at December 31, 2019 -As Restated		87,050	$	87	$	1,706,357	$	(31,474	)	$	(133,019	)	$	1,541,951		$	646,439			$	2,188,390


	Year Ended December 31, 2019
(in thousands)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	21,204			2,030			$	23,234
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		125,443			(2,863	)	(a,b)		122,580
Straight-line rents		—			(4,185	)	(c)		(4,185	)
Distributions of operating income from unconsolidated affiliates		11,273			—				11,273
Equity in (earnings) losses of unconsolidated affiliates		(8,922	)		3,023		(a)		(5,899	)
Stock compensation expense		10,957			(951	)	(b)		10,006
Amortization of financing costs		7,577			(859	)	(a,b)		6,718
Impairment charges		1,721			—				1,721
Gain on disposition of properties		(30,324	)		—				(30,324	)
Allowance for credit loss		—			2,742		(a,c)		2,742
Adjustments to straight-line rent reserves		—			1,961		(a,b,c)		1,961
Deferred gain on tax credits		(5,034	)		—				(5,034	)
Other, net		(11,627	)		52		(a)		(11,575	)
Changes in assets and liabilities:
Other liabilities		(4,466	)		(384	)	(a)		(4,850	)
Lease liability - operating leases		—			2,014		(b)		2,014
Prepaid expenses and other assets		8,198			8		(a)		8,206
Rents receivable		(455	)		1,544		(c)		1,089
Accounts payable and accrued expenses		1,632			73		(a)		1,705
Net cash provided by operating activities		127,177			4,205				131,382
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(319,673	)		—				(319,673	)
Acquisition of leasehold interests		(39,031	)		—				(39,031	)
Development, construction and property improvement costs		(89,270	)		(115	)	(a)		(89,385	)
Proceeds from the disposition of properties, net		88,738			—				88,738
Investments in and advances to unconsolidated affiliates and other		(151,281	)		(13,641	)	(a)		(164,922	)
Return of capital from unconsolidated affiliates and other		105,999			6				106,005
Issuance of notes receivable		(3,608	)		—				(3,608	)
Proceeds from notes receivable		15,250			—				15,250
Return of deposits for properties under contract		2,870			—				2,870
Payment of deferred leasing costs		(7,051	)		269		(a)		(6,782	)
Net cash used in investing activities		(397,057	)		(13,481	)			(410,538	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(168,211	)		27,627		(a)		(140,584	)
Principal payments on unsecured debt		(521,600	)		—				(521,600	)
Proceeds received on mortgage and other notes		326,268			(18,900	)	(a)		307,368
Proceeds from unsecured debt		526,400			—				526,400
Payments of finance lease obligations		(2,749	)		—				(2,749	)
Proceeds from the sale (repurchase) of Common Shares		145,498			—				145,498
Capital contributions from noncontrolling interests		161,628			(263	)	(a)		161,365
Distributions to noncontrolling interests		(101,370	)		6		(a)		(101,364	)
Dividends paid to Common Shareholders		(93,902	)		—				(93,902	)
Deferred financing and other costs		(6,920	)		444		(a)		(6,476	)
Net cash provided by financing activities		265,042			8,914				273,956
Decrease in cash and restricted cash		(4,838	)		(362	)			(5,200	)
Cash of $20,074 and restricted cash of $13,155 beginning of period		34,848			(1,619	)			33,229
Cash of $14,149 and restricted cash of $13,880 end of period	$	30,010		$	(1,981	)		$	28,029


	Year Ended December 31, 2019
(in thousands)	As Reported			Adjustments				As Restated
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $12,586	$	53,586		$	15,490			$	69,076
Cash paid for income taxes, net of (refunds)	$	730		$	—			$	730

Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL	$	—		$	—			$	—
Assumption of accounts payable and accrued expenses through acquisition of real estate	$	4,666		$	—			$	4,666
Note receivable exchanged for real estate	$	13,530		$	—			$	13,530
Acquisition of real estate through assumption of debt	$	—		$	—			$	—
Distribution declared and payable	$	—		$	26,914		(c)	$	26,914
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities	$	16,349		$	—			$	16,349
Right-of-use assets, finance leases obtained in exchange for assets under capital lease	$	76,965		$	—			$	76,965
Right-of-use assets, operating leases exchanged for operating lease liabilities	$	57,165		$	—			$	57,165
Capital lease obligation exchanged for finance lease liability	$	71,111		$	—			$	71,111
Other liabilities exchanged for operating lease liabilities	$	946		$	—			$	946
Assumption of debt through investments in unconsolidated affiliates	$	4,688		$	—			$	4,688
Debt exchanged for deferred gain on tax credits	$	—		$	(5,262	)	(c)	$	(5,262	)
Other assets exchanged for deferred gain on tax credits	$	—		$	228		(c)	$	228
Settlement of note receivable through cancellation of OP Units	$	—		$	—			$	—
Right of use assets, operating leases terminated in exchange for finance lease liabilities	$	—		$	—			$	—

Change in control of previously unconsolidated (consolidated) investment
Increase in real estate	$	828		$	—			$	828
Decrease in investments in and advances to unconsolidated affiliates		(1,189	)		—				(1,189	)
Change in other assets and liabilities		12			—				12
Acquisition of noncontrolling interest asset		—			—				—
Decrease in notes receivable		—			—				—
Decrease in right-of-use assets, finance leases		11,051			—				11,051
Decrease in finance lease liability		(10,702	)		—				(10,702	)
Increase in cash and restricted cash upon change of control	$	—		$	—			$	—

Real Estate

12 Months Ended

Dec. 31, 2021

Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]

Real Estate

3. Real Estate

The Company’s consolidated real estate is comprised of the following for the periods presented (in thousands):


	December 31,
	2021			2020
				(As Restated)
Land	$	739,641		$	752,721
Buildings and improvements		2,892,051			2,802,253
Tenant improvements		199,925			178,918
Construction in progress		11,131			5,147
Right-of-use assets - finance leases (Note 12)		25,086			25,086
Total		3,867,834			3,764,125
Less: Accumulated depreciation and amortization		(648,461	)		(573,364	)
Operating real estate, net		3,219,373			3,190,761
Real estate under development		203,773			247,201
Net investments in real estate	$	3,423,146		$	3,437,962

Acquisitions and Conversions

During the years ended December 31, 2021 and 2020, the Company acquired the following consolidated retail properties and other real estate investments (dollars in thousands):


Property and Location	Percent Acquired	Date of Acquisition	Purchase Price
2021 Acquisitions
Core
14th Street Portfolio - Washington, DC	100%	Dec 23, 2021	$	26,320
Subtotal Core				26,320

Fund V
Canton Marketplace - Canton, GA	100%	Aug 20, 2021	$	50,954
Monroe Marketplace - Selinsgrove, PA	100%	Sept 9, 2021		44,796
Monroe Marketplace (Parcel) - Selinsgrove, PA	100%	Nov 12, 2021		1,029
Midstate - East Brunswick, NJ	100%	Dec 14, 2021		71,867
Subtotal Fund V				168,646
Total 2021 Acquisitions			$	194,966

2020 Acquisitions and Conversions
Core
Soho Acquisitions - 37 Greene Street - New York, NY	100%	Jan 9, 2020	$	15,689
917 W. Armitage - Chicago, IL	100%	Feb 13, 2020		3,515
Town Center - Wilmington, DE (Conversion) (Note 5)	100%	Apr 1, 2020		138,939
Subtotal Core				158,143

Fund IV
230-240 W. Broughton Street - Savannah, GA	100%	May 26, 2020		13,219
102 E. Broughton Street - Savannah, GA	100%	May 26, 2020		790
Subtotal Fund IV				14,009
Total 2020 Acquisitions and Conversions			$	172,152

For the years ended December 31, 2021 and 2020, the Company capitalized acquisition costs of $3.6 million and $1.3 million, respectively. During the year ended December 31, 2021, the Company assumed a $31.8 million mortgage upon the acquisition of Canton Marketplace (Note 8). No debt was assumed in any of the 2020 Acquisitions and Conversions. Conversions represent notes receivable that were converted to an equity interest in the underlying collateral property in a non-cash transaction.

Purchase Price Allocations

The purchase prices for the 2021 Acquisitions and 2020 Acquisitions and Conversions were allocated to the acquired assets and assumed liabilities based on their estimated relative fair values at the dates of acquisition. The following table summarizes the allocation of the purchase price of properties acquired during the years ended December 31, 2021 and 2020 (in thousands):


	Year Ended December 31,
	2021			2020
Net Assets Acquired
Land	$	37,290		$	25,440
Buildings and improvements		134,065			123,459
Accounts receivable, prepaids and other assets		—			5,770
Acquisition-related intangible assets (Note 7)		39,953			23,061
Right-of-use asset - Operating lease (Note 12)		—			234
Acquisition-related intangible liabilities (Note 7)		(16,342	)		(4,569	)
Lease liability - Operating lease (Note 12)		—			(234	)
Accounts payable and other liabilities		—			(1,009	)
Net assets acquired	$	194,966		$	172,152

Consideration
Cash	$	161,846		$	21,208
Conversion of note receivable		—			38,674
Conversion of accrued interest		—			1,995
Debt assumed		31,801			—
Liabilities assumed		1,319			116
Existing interest in previously unconsolidated investment		—			109,571
Acquisition of noncontrolling interests		—			588
Total consideration	$	194,966		$	172,152

Dispositions

During the years ended December 31, 2021, 2020 and 2019, the Company disposed of the following consolidated properties and other real estate investments (in thousands):


Property and Location	Owner	Date Sold	Sale Price		Gain on Sale
2021 Dispositions
60 Orange St - Bloomfield, NJ	Core	Jan 29, 2021	$	16,400	$	4,612
654 Broadway - New York, NY	Fund III	May 19, 2021		10,000		111
NE Grocer Portfolio (Selected Assets) - Maine	Fund IV	Jun 18, 2021		39,925		5,064
Total 2021 Dispositions (a)			$	66,325	$	9,787

2020 Dispositions
163 Highland Ave. (Easement) - Needham, MA	Core	Mar 19, 2020	$	238	$	88
Colonie Plaza - Albany, NY	Fund IV	Apr 13, 2020		15,250		485
Airport Mall (Parcel) - Bangor, ME	Fund IV	Sep 10, 2020		400		24
Cortlandt Crossing (Sewer Project and Retention Pond) - Cortlandt, NY	Fund III	Nov 30, 2020		6,325		—
Union Township (Parcel) - New Castle, PA	Core	Dec 11, 2020		200		86
Total 2020 Dispositions			$	22,413	$	683

2019 Dispositions
3104 M Street - Washington, DC	Fund III	Jan 24, 2019	$	10,500	$	2,014
210 Bowery - 3 Residential Condos - New York, NY	Fund IV	May 17, 2019 Sep 23, 2019 Nov 7, 2019		8,826		(242	)
JFK Plaza - Waterville, ME	Fund IV	Jul 24, 2019		7,800		2,075
3780-3858 Nostrand Avenue - New York, NY	Fund III	Aug 22, 2019		27,650		2,562
938 W North Avenue - Chicago, IL	Fund IV	Sep 27, 2019		32,000		7,144
Pacesetter Park - Pomona, NY	Core	Oct 28, 2019		22,550		16,771
Total 2019 Dispositions			$	109,326	$	30,324

Does not include the gain on lease termination of $0.7 million related to the Fund IV lease at 110 University Place (Note 12).

Properties Held for Sale or Sold

At December 31, 2021, the Company had two properties under contract for sale with assets totaling $64.0 million, which were probable of disposition. These properties were classified as "held for sale" on the Company's consolidated balance sheets at December 31, 2021. The Company sold both properties in January and February 2022 and repaid the related debt upon disposition (Note 18).

The aggregate rental revenue, expenses and pre-tax income reported within continuing operations for the aforementioned consolidated properties that were sold as well as the lease that was terminated during the years ended December 31, 2021, 2020 and 2019 were as follows (in thousands):


	Year Ended December 31,
	2021			2020			2019
Revenues	$	3,270		$	8,847		$	17,282
Expenses		(3,784	)		(8,625	)		1,212
Gain on disposition of properties		10,521			683			30,324
Net income attributable to noncontrolling interests		(4,151	)		(323	)		(10,967	)
Net income attributable to Acadia	$	5,856		$	582		$	37,851

Real Estate Under Development and Construction in Progress

Real estate under development represents the Company’s consolidated properties that have not yet been placed into service while undergoing substantial development or construction.

Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands):


	January 1, 2021				Year Ended December 31, 2021						December 31, 2021
	Number of Properties		Carrying Value		Transfers In		Capitalized Costs		Transfers Out		Number of Properties		Carrying Value
Core		—	$	63,875	$	—	$	1,855	$	23,213		—	$	42,517
Fund II		—		74,657		—		3,921		43,453		—		35,125
Fund III		1		23,104		—		1,192		—		1		24,296
Fund IV (a)		2		85,565		29,758		2,026		15,514		1		101,835
Total		3	$	247,201	$	29,758	$	8,994	$	82,180		2	$	203,773

Transfers in include $29.8 million related to the remaining portion of one Fund IV property that was placed into development.


	January 1, 2020				Year Ended December 31, 2020						December 31, 2020
	Number of Properties		Carrying Value		Transfers In		Capitalized Costs		Transfers Out		Number of Properties		Carrying Value
			(As Restated)										(As Restated)
Core		—	$	60,863	$	—	$	3,012	$	—		—	$	63,875
Fund II (a)		—		10,703		66,812		3,612		6,470		—		74,657
Fund III		1		36,240		—		35		13,171		1		23,104
Fund IV (b)		2		145,590		—		1,261		61,286		2		85,565
Total		3	$	253,396	$	66,812	$	7,920	$	80,927		3	$	247,201

Transfers in include $33.8 million of non-cash Fund II additions obtained through the conversion of a note receivable (Note 4).

Transfers out include impairment charges totaling $16.5 million on two Fund IV development properties (Note 9).

The number of properties in the tables above refers to projects comprising the entire property under development; however, certain projects represent a portion of a property.

At December 31, 2021, consolidated development projects included: a portion of City Center for Core, portions of City Point Phase I and II at Fund II, Broad Hollow Commons at Fund III and 717 N. Michigan Avenue at Fund IV. In addition, at December 31, 2021, the Company had one Core unconsolidated development project, 1238 Wisconsin Avenue. During the year ended December 31, 2021, the Company:

•

placed portions of one Core project, City Center, into service in the first and second quarter of 2021

•

disposed of building improvements related to one Fund IV project, 110 University Place, in connection with a lease termination in the second quarter of 2021 (Note 12)

•

placed the remaining portion of one Fund IV property, 717 N. Michigan Avenue, into development in the fourth quarter of 2021

•

placed a portion of Fund II’s City Point Phase III into service in the fourth quarter of 2021

During the year ended December 31, 2020, the Company:

•

placed a portion of one Fund III property, Cortlandt Crossing, into service in the first quarter of 2020

•

converted, in a non-cash transaction, a note receivable in exchange for construction improvements at a Fund II property in the amount of $33.8 million in the fourth quarter of 2020 (Note 4)

•

recognized impairment charges totaling $16.5 million on two Fund IV properties (Note 9) including 717 N. Michigan Avenue and 110 University Place in the fourth quarter of 2020

•

placed a portion of one Fund IV property, 146 Geary Street, which was also impaired, into service in the first quarter of 2020 (Note 9)

•

placed a portion of Fund II’s City Point Phase II into development in the second quarter of 2020

•

suspended certain development projects due to aforementioned disruptions related to the COVID-19 Pandemic. Substantially all remaining development and redevelopment costs were discretionary and dependent upon the resumption of tenant interest.

Construction in progress pertains to construction activity at the Company’s operating properties that are in service and continue to operate during the construction period.

Notes Receivable, Net

12 Months Ended

Dec. 31, 2021

Accounts And Notes Receivable Net [Abstract]

Notes Receivable, Net

4. Notes Receivable, Net

The Company’s notes receivable, net are generally collateralized either by the underlying properties or the borrowers’ ownership interests in the entities that own the properties, and were as follows (dollars in thousands):


	December 31,						December 31, 2021
Description	2021			2020			Number		Maturity Date	Interest Rate
				(As Restated)
Core Portfolio (a)	$	154,332		$	96,794			7	Apr 2020 - Dec 2027	5.00% - 12.00%
Fund III		5,306			5,306			1	Jul 2020	18.00%
Total notes receivable		159,638			102,100
Allowance for credit loss		(5,752	)		(1,218	)
Notes receivable, net	$	153,886		$	100,882			8

(a)

Includes one and two notes receivable from OP Unit holders, for $6.0 million and $6.5 million at December 31, 2021 and 2020, respectively.

During the year ended December 31, 2021, the Company:

•

originated a new Core Portfolio note for $16.0 million with a stated interest rate of 9% and a maturity date of October 20, 2022 collateralized by a single tenant property in Silver Spring, Maryland on April 20, 2021;

•

exchanged 21,109 OP Units in settlement of a note receivable in the amount of $0.5 million on July 12, 2021 (Note 11);

•

originated a new Core Portfolio note for $43.0 million, of which $42.0 million was funded, with three tranches with stated interest rates ranging from 5% to 12% and a maturity date of September 17, 2024 collateralized by a retail condominium in Soho, New York on September 17, 2021;

•

extended the maturity date of one Core note receivable of $13.5 million from October 28, 2021 to June 1, 2022; and

•

recorded an increase in its allowance for credit loss of approximately $4.5 million primarily attributable to the Fund III note that matured in July 2020.

During the year ended December 31, 2020, the Company:

•

exchanged its Brandywine Note Receivable of $38.7 million plus accrued interest of $2.0 million for the remaining 24.78% undivided interest in Town Center on April 1, 2020 (Note 5);

•

recorded credit loss reserves of $0.4 million upon the adoption of ASC 326 (Note 1);

•

converted $33.8 million balance of a Fund II note receivable for interest in real estate on November 2, 2020 (Note 3). Prior to the exchange, the note had been increased by the interest accrued during 2020 of $0.6 million;

•

made a Core loan for $54.0 million with an interest rate of 9% structured as a redeemable preferred equity investment in a property at 850 Third Avenue in Brooklyn, New York on January 14, 2020;

•

originated a new Core Portfolio note for $5.0 million with an interest rate of 8% collateralized by our partner’s 50% share of the LUF (Georgetown) Portfolio (Note 5) in Washington, D.C. effective February 1, 2020; and

•

recorded additional credit loss reserves of $0.8 million primarily attributable to the Fund III note discussed above.

Defaults

One Core Portfolio note aggregating $21.6 million including accrued interest (exclusive of default interest and other amounts due on the loan that have not been recognized) was in default at December 31, 2021 and December 31, 2020. On April 1, 2020, the loan matured and was not repaid. There is a personal guarantee associated with the note receivable. The Company expects to take appropriate actions to recover the amounts due under the loan, and has issued a reservation of rights letter to the borrowers and guarantor, reserving all of its rights and remedies under the applicable loan documents and otherwise. The Company has determined that the collateral for this loan is sufficient to cover the loan’s carrying value at December 31, 2021 and 2020. In addition, one Fund III note receivable aggregating $10.0 million, including accrued interest (exclusive of default interest and other amounts due on the loan that have not been recognized) matured on July 1, 2020 and was not repaid; however, in January 2022, Fund III obtained the remaining interest in the collateral via a foreclosure auction (Note 18). The Company has determined that the collateral is not sufficient to cover the loan’s carrying value at December 31, 2021 and 2020, and therefore recorded an additional allowance of $4.6 million and $0.6 million, respectively.

Allowance for Credit Losses

The Company monitors the credit quality of its notes receivable on an ongoing basis and considers indicators of credit quality such as loan payment activity, the estimated fair value of the underlying collateral, the seniority of the Company’s loan in relation to other debt secured by the collateral and the prospects of the borrower.

Earnings from these notes and mortgages receivable are reported within the Company’s Structured Financing segment (Note 13).

The Company’s estimated allowance for credit losses related to its Structured Financing segment has been computed for its amortized cost basis in the portfolio, including accrued interest (Note 6), factoring historical loss experience in the United States for similar loans, as adjusted for current conditions, as well as the Company’s expectations related to future economic conditions. Due to the lack of comparability across the Structured Financing portfolio, each loan was evaluated separately. As a result, there were five non-collateral-dependent loans with a total amortized cost of $142.8 million, inclusive of accrued interest of $12.3 million, for which an allowance for credit losses has been recorded aggregating $1.2 million at December 31, 2021. For three loans in this portfolio, aggregating $37.9 million, inclusive of accrued interest of $8.8 million at December 31, 2021, the Company has elected to apply a practical expedient in accordance with ASC 326. For two Core loans, the Company did not establish an allowance for credit losses because (i) these loans are collateral-dependent loans, which due to their settlement terms are not expected to be settled in cash but rather by the Company’s possession of the real estate collateral; and (ii) at December 31, 2021, the Company determined that the estimated fair value of the collateral at the expected realization date for these loans was sufficient to cover the carrying value of its investments in these notes receivable. An allowance was established for one Fund III loan for $4.6 million at December 31, 2021, because it was determined that the fair value of this collateral-dependent loan was not sufficient to cover the carrying value of its investments in this note receivable. Impairment charges may be required if and when such amounts are estimated to be nonrecoverable upon a realization event, which is generally at the time a loan is repaid, or in the case of foreclosure, when the underlying asset is sold; however, non-recoverability may also be concluded if it is reasonably certain that all amounts due will not be collected.

Investments in and Advances to Unconsolidated Affiliates

12 Months Ended

Dec. 31, 2021

Equity Method Investments And Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Affiliates

. Investments in and Advances to Unconsolidated Affiliates

The Company accounts for its investments in and advances to unconsolidated affiliates primarily under the equity method of accounting as it has the ability to exercise significant influence, but does not have financial or operating control over the investment, which is maintained by each of the unaffiliated partners who co-invest with the Company. The Company’s investments in and advances to unconsolidated affiliates consist of the following (dollars in thousands):


		Ownership Interest	December 31,
Portfolio	Property	December 31, 2021	2021		2020
					(As Restated)
Core:	840 N. Michigan (a)	88.43%	$	51,513	$	55,863
	Renaissance Portfolio	20%		28,466		29,270
	Gotham Plaza	49%		29,187		28,683
	Georgetown Portfolio	50%		4,089		4,624
	1238 Wisconsin Avenue	80%		5,895		2,571
				119,150		121,011

Mervyns I & II:	KLA/ABS (b)	36.7%		124,316		72,391

Fund III:	Self Storage Management (c)	95%		207		207
	640 Broadway (d)	63.13%		17,825		17,457
				18,032		17,664

Fund IV:	Fund IV Other Portfolio	98.57%		12,675		11,719
	650 Bald Hill Road	90%		11,677		12,550
	Paramus Plaza	50%		1,975		5,565
				26,327		29,834

Fund V:	Family Center at Riverdale (a)	89.42%		12,449		11,824
	Tri-City Plaza	90%		6,827		7,024
	Frederick County Acquisitions	90%		10,748		10,837
				30,024		29,685

Various:	Due from (to) Related Parties			666		363
	Other (e)			3,811		1,881
	Investments in and advances to unconsolidated affiliates		$	322,326	$	272,829

Core:	Crossroads (f)	49%	$	9,939	$	15,616
	Distributions in excess of income from, and investments in, unconsolidated affiliates		$	9,939	$	15,616

Represents a tenancy-in-common interest.

Includes an interest in Albertsons (at fair value, as described below).

Represents a variable interest entity for which the Company was determined not to be the primary beneficiary.

In January 2022, the Company obtained the partner's interest and now owns 100% and consolidates the entity (Note 18).

Includes cost-method investments in, Storage Post, Fifth Wall and other investments.

Distributions have exceeded the Company’s investment; however, the Company recognizes a liability balance as it may be required to return distributions to fund future obligations of the entity.

During the year ended December 31, 2021, the Company:

•

received dividends of $1.7 million at Mervyns II related to distributions from its Investment in Albertsons and recorded a net unrealized holding gain of $51.9 million reflecting the change in fair value of its Investment in Albertsons

•

on January 4, 2021, Fund V sold two land parcels at its unconsolidated Family Center at Riverdale property for a total of $10.5 million, repaid $7.9 million of the related mortgage and the venture recognized a gain of $3.2 million, of which the Company's share was $0.6 million;

•

called capital for its Crossroads investment of $7.5 million, of which the venture partner's share was $5.4 million; and

•

increased its investment in Fifth Wall by $1.9 million pursuant to its subscription agreement.

During the year ended December 31, 2020, the Company:

•

exchanged the remaining $38.7 million of Brandywine Notes Receivable (Note 4), plus accrued interest of $2.0 million for the remaining 24.78% interest in Town Center on April 1, 2020, thereby obtaining a 100% controlling interest in the property. The property was then consolidated (Note 3) and the Company recorded the remaining interest in the property investment at the carrying value of the notes;

•

increased its investment in Fifth Wall by $0.4 million pursuant to its subscription agreement;

•

impaired $0.4 million of its investment in Fifth Wall (Note 9) during the fourth quarter of 2020, reflecting management’s estimate of fair value at that date;

•

recorded realized gains at Mervyns II of approximately $22.8 million and $0.4 million, during the second and fourth quarters of 2020, respectively, from its Investment in Albertsons. The realized gains during the second quarter of 2020 resulted from the issuance and distribution of proceeds from a preferred equity investment and a sale of a portion of its investment in an initial public offering of Albertsons, both of which occurred in June 2020;

•

recorded an unrealized gain of approximately $64.9 million during the second quarter of 2020 at Mervyns II reflecting the initial market value of its ownership of approximately 4.1 million shares (approximately 1% interest) through its Investment in Albertsons, which it has accounted for at fair value following the initial public offering;

•

recorded an additional net unrealized holding gain of $7.5 million at Mervyns II reflecting the change in fair value of its Investment in Albertsons from the initial public offering through December 31, 2020; and

•

acquired all of the third-party equity of BSP II at Fund IV, which underlies two properties within Broughton Street Portfolio, for $1.3 million on May 26, 2020, pursuant to the buy-sell provisions of the operating agreement of the Broughton Street Portfolio. These two BSP II properties were consolidated during the second quarter of 2020.

Core Portfolio

Fifth Wall

On August 8, 2019, the Company invested $1.8 million in Fifth Wall Ventures Retail Fund, L.P. (“Fifth Wall”). During the fourth quarter of 2019, the Company invested another $0.2 million. During 2021 and 2020, the Company increased its investment in Fifth Wall by $1.9 million and $0.4 million, respectively. The Company’s total commitment is $5.0 million. The Company accounts for its interest at cost less impairment given its ownership is less than five percent, and the Company has virtually no influence over the partnership’s operating and financial policies. During the fourth quarter of 2020, the Company impaired $0.4 million for this investment (Note 9) reflecting management’s estimate of fair value at that date. At December 31, 2021, the Company’s investment was $3.7 million.

Brandywine Portfolio, Market Square and Town Center

The Company now owns a 100% interest in an approximately one million square-foot retail portfolio (the “Brandywine Portfolio” joint venture) located in Wilmington, Delaware, which includes two properties referred to as “Market Square” and “Town Center.” Through a series of exchange transactions from 2017 through 2020, the Company converted a $140.0 million non-recourse note receivable and interest thereon (Note 4), which was collateralized by the Brandywine Portfolio, into ownership of the tenancy-in-common interests held by co-investors in the property ventures.

The Brandywine Portfolio and Market Square ventures do not include the property held by Acadia Brandywine Holdings, LLC (“Brandywine Holdings”), an entity in which the Company had a 22.22% controlling interest (until it acquired the noncontrolling interest during 2020 as discussed in Note 8) and which is consolidated by the Company.

1238 Wisconsin Avenue

On December 28, 2021, the Company provided a $12.8 million construction loan commitment to an unconsolidated entity, collateralized by the membership interest in the joint venture that owns the property. The loan, which had not been funded at December 31, 2021, matures in December 2023 with one twelve-month extension option. The Company earned an origination fee of $0.1 million at closing.

Fund Investments

Broughton Street Portfolio

During 2014, Fund IV acquired 50% interests in two joint ventures referred to as “BSP I” and “BSP II” with the same venture partner to acquire and operate a total of 23 properties in Savannah, Georgia referred to as the “Broughton Street Portfolio.” Since that time, as described below, the ventures have sold eight of the properties and terminated the master leases on two of the properties. In October 2018, the venture partner relinquished its interest in BSP I, resulting in Fund IV becoming the 100% owner of the BSP I venture, which holds 11 consolidated properties (Note 3). On May 26, 2020, pursuant to the buy-sell provisions of the operating agreement of the Broughton Street Portfolio, Fund IV acquired all of the third-party equity of BSP II, which underlies two properties within Broughton Street Portfolio, for $1.3 million in a non-monetary exchange. These two BSP II properties were consolidated during the second quarter of 2020.

Storage Post

On June 29, 2019, Fund III’s Storage Post venture, which is a cost method investment with no carrying value distributed $1.6 million, of which the Operating Partnership’s share was $0.4 million.

Albertsons

During 2006, as part of a series of investments with a consortium of other investors known as the “RCP Venture”, Mervyns II acquired an indirect interest in Albertsons Companies, Inc., a private chain of grocery stores (“Albertsons”) through two 36.67% owned entities (KLA A Investments, LLC and ABS Opportunities, LLC, “KLA/ABS”). The investment (the “Investment in Albertsons”) has been accounted for under the cost method as Mervyns II has no influence over operating and financial policies of KLA/ABS. Subsequent to the initial investment in 2006, Mervyns II received distributions from its Investment in Albertsons in excess of its initial contribution, which have been recognized in earnings. During the second and fourth quarters of 2020, Mervyns II realized gains of approximately $22.8 million and $0.4 million, respectively, from its Investment in Albertsons. The realized gains during the second quarter of 2020 resulted from the issuance and distribution of proceeds from a preferred equity investment and a sale of a portion of its investment in an initial public offering of Albertsons, both of which occurred in June 2020. Following these transactions, Mervyns II has retained an effective indirect ownership of approximately 4.1 million shares (approximately 1% interest) through its Investment in Albertsons, which it has accounted for at fair value following the initial public offering given the readily determinable fair value. During 2021, Mervyns II realized gains of approximately $1.7 million related to distributions from its Investment in Albertsons. The Company has an effective ownership interest of 28.33% in Mervyns II.

Fees from Unconsolidated Affiliates

The Company earned property management, construction, development, legal and leasing fees from its investments in unconsolidated partnerships totaling $0.6 million, $1.1 million and $0.7 million for the years ended December 31, 2021, 2020 and 2019, respectively, which is included in other revenues in the consolidated statements of operations.

In addition, the Company paid certain unaffiliated partners of its joint ventures, $1.4 million and $2.1 million and $1.4 million for the years ended December 31, 2021, 2020 and 2019, respectively, for leasing commissions, development, management, construction and overhead fees.

Summarized Financial Information of Unconsolidated Affiliates

The following combined and condensed Balance Sheets and Statements of Operations, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates that were held as of December 31, 2021, and accordingly exclude the results of any investments disposed of or consolidated prior to that date (in thousands):


	December 31,
	2021		2020
Combined and Condensed Balance Sheets
Assets:
Rental property, net	$	631,661	$	633,375
Real estate under development		8,112		14,664
Other assets		78,300		70,710
Total assets	$	718,073	$	718,749
Liabilities and partners’ equity:
Mortgage notes payable	$	571,461	$	569,040
Other liabilities		69,166		76,341
Partners’ equity		77,446		73,368
Total liabilities and partners’ equity	$	718,073	$	718,749

Company's share of accumulated equity	$	113,285	$	112,088
Basis differential		66,031		66,724
Deferred fees, net of portion related to the Company's interest		4,071		3,559
Amounts receivable/payable by the Company		666		363
Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates		184,053		182,734
Investments carried at fair value or cost		128,334		74,479
Company's share of distributions in excess of income from and investments in unconsolidated affiliates		9,939		15,616
Investments in and advances to unconsolidated affiliates	$	322,326	$	272,829


	Year Ended December 31,
	2021			2020			2019
Combined and Condensed Statements of Operations
Total revenues	$	80,823		$	78,054		$	77,507
Operating and other expenses		(28,572	)		(28,718	)		(24,894	)
Interest expense		(21,228	)		(22,651	)		(25,660	)
Depreciation and amortization		(30,518	)		(30,917	)		(25,012	)
Loss on extinguishment of debt		(35	)		—			—
Gain on disposition of properties (a)		3,206			—			—
Net income (loss) attributable to unconsolidated affiliates	$	3,676		$	(4,232	)	$	1,941

Company’s share of equity in net income (loss) of unconsolidated affiliates	$	6,023		$	(2,503	)	$	1,118
Income attributable to unconsolidated affiliates recently sold or consolidated		—			1,280		$	6,155
Basis differential amortization		(693	)		(1,834	)		(1,374	)
Company’s equity in earnings (losses) of unconsolidated affiliates	$	5,330		$	(3,057	)	$	5,899

Represents the gain on the sale of two land parcels by the Family Center at Riverdale on January 4, 2021.

Other Assets, Net and Accounts Payable and Other Liabilities

12 Months Ended

Dec. 31, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets, Net and Accounts Payable and Other Liabilities

. Other Assets, Net and Accounts Payable and Other Liabilities

Other assets, net and accounts payable and other liabilities are comprised of the following for the periods presented:


	December 31,
(in thousands)	2021			2020
Other Assets, Net:				(As Restated)
Lease intangibles, net (Note 7)	$	108,918		$	100,426
Deferred charges, net (a)		28,438			27,634
Accrued interest receivable		21,148			13,917
Prepaid expenses		17,230			17,117
Due from seller		3,364			3,682
Income taxes receivable		2,279			2,433
Other receivables		1,830			2,065
Deposits		1,647			1,704
Corporate assets, net		1,648			1,302
Derivative financial instruments (Note 9)		7			1
	$	186,509		$	170,281

(a) Deferred Charges, Net:
Deferred leasing and other costs	$	58,281		$	53,443
Deferred financing costs related to line of credit		9,953			11,341
		68,234			64,784
Accumulated amortization		(39,796	)		(37,150	)
Deferred charges, net	$	28,438		$	27,634

Accounts Payable and Other Liabilities:
Lease intangibles, net (Note 7)	$	76,778		$	76,434
Accounts payable and accrued expenses		56,580			52,399
Derivative financial instruments (Note 9)		45,027			89,612
Deferred income		38,373			31,785
Tenant security deposits, escrow and other		13,045			11,925
Lease liability - finance leases, net (Note 12)		6,612			6,287
	$	236,415		$	268,442

Lease Intangibles

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Lease Intangibles

7. Lease Intangibles

Upon acquisitions of real estate, the Company assesses the relative fair value of acquired assets (including land, buildings and improvements, and identified intangibles such as above- and below-market leases, including below-market options and acquired in-place leases) and assumed liabilities. The lease intangibles are amortized over the remaining terms of the respective leases, including option periods where applicable.

Intangible assets and liabilities are included in Other assets and Accounts payable and other liabilities (Note 6) on the consolidated balance sheets and summarized as follows (in thousands):


	December 31, 2021									December 31, 2020
	Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
Amortizable Intangible Assets										(As Restated)			(As Restated)			(As Restated)
In-place lease intangible assets	$	290,819		$	(189,981	)	$	100,838		$	265,063		$	(168,891	)	$	96,172
Above-market rent		24,191			(16,111	)		8,080			19,010			(14,756	)	$	4,254
	$	315,010		$	(206,092	)	$	108,918		$	284,073		$	(183,647	)	$	100,426

Amortizable Intangible Liabilities
Below-market rent	$	(171,245	)	$	94,871		$	(76,374	)	$	(162,238	)	$	86,266			(75,972	)
Above-market ground lease		(671	)		267			(404	)		(671	)		209			(462	)
	$	(171,916	)	$	95,138		$	(76,778	)	$	(162,909	)	$	86,475		$	(76,434	)

During the year ended December 31, 2021, the Company:

•

acquired in-place lease intangible assets of $34.7 million, above-market rents of $5.3 million, and below-market rents of $16.3 million with weighted-average useful lives of 5.8, 5.4, and 27.7 years, respectively (Note 3); and

•

derecognized in-place lease intangible assets of $2.2 million and below-market rent of $4.4 million, of which the Company's share was $1.7 million and $3.0 million, respectively, related to disposed properties (Note 3). In addition, the Company recorded accelerated amortization related to in-place lease intangible assets of $1.6 million and below-market rents of $3.6 million, of which the Company's share was $1.1 million and $3.1 million, respectively, related to tenant non-renewals and early tenant lease terminations.

During the year ended December 31, 2020, the Company:

•

acquired in-place lease intangible assets of $21.0 million, above-market rents of $2.0 million, and below-market rents of $4.6 million with weighted-average useful lives of 4.9, 5.8, and 20.2 years, respectively (Note 3); and

•

derecognized in-place lease intangible assets of $1.5 million, of which the Company's share was $0.4 million, related to disposed properties (Note 3). In addition, the Company recorded accelerated amortization related to in-place lease intangible assets of $3.7 million and below-market rents of $1.9 million, of which the Company's share was $2.2 million and $1.1 million, respectively, related to tenant non-renewals and early tenant lease terminations.

Amortization of in-place lease intangible assets is recorded in depreciation and amortization expense and amortization of above-market rent and below-market rent is recorded as a reduction to and increase to rental income, respectively, in the consolidated statements of operations. Amortization of above-market ground leases are recorded as a reduction to rent expense in the consolidated statements of operations.

The scheduled amortization of acquired lease intangible assets and assumed liabilities as of December 31, 2021 is as follows (in thousands):


Years Ending December 31,	Net Increase in Lease Revenues		Increase to Amortization			Reduction of Rent Expense		Net (Expense) Income
2022	$	5,215	$	(26,371	)	$	58	$	(21,098	)
2023		4,768		(19,902	)		58		(15,076	)
2024		4,700		(14,046	)		58		(9,288	)
2025		4,287		(9,804	)		58		(5,459	)
2026		3,992		(7,433	)		58		(3,383	)
Thereafter		45,332		(23,282	)		114		22,164
Total	$	68,294	$	(100,838	)	$	404	$	(32,140	)

Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt

. Debt

A summary of the Company’s consolidated indebtedness is as follows (dollars in thousands):


	Interest Rate at			Carrying Value at
	December 31,	December 31,	Maturity Date at	December 31,			December 31,
	2021	2020	December 31, 2021	2021			2020
Mortgages Payable							(As Restated)
Core Fixed Rate	3.88%-5.89%	3.88%-5.89%	Feb 2024 - Apr 2035	$	145,464		$	147,810
Core Variable Rate - Swapped (a)	3.41%-4.54%	3.41%-4.54%	Jan 2023 - Nov 2028		72,957			80,500
Total Core Mortgages Payable					218,421			228,310
Fund II Variable Rate	LIBOR+2.75% - PRIME+2.00%	LIBOR+3.00% - PRIME+2.00%	Mar 2022 - August 2022		255,978			228,282
Fund II Variable Rate - Swapped		2.88%			—			18,803
Total Fund II Mortgages Payable					255,978			247,085
Fund III Variable Rate	LIBOR+2.75%	LIBOR+2.75%	Jun 2022		34,728			35,948
Fund IV Fixed Rate	4.50%	3.40%-4.50%	Oct 2025		1,120			6,726
Fund IV Variable Rate	LIBOR+1.60%-LIBOR+3.65%	LIBOR+1.60%-LIBOR+3.40%	Feb 2022 - Jun 2026		221,832			252,324
Fund IV Variable Rate - Swapped (a)	3.48%-4.61%	3.48%-4.61%	Apr 2022 - Dec 2022		23,316			47,690
Total Fund IV Mortgages and Other Notes Payable					246,268			306,740
Fund V Fixed Rate	3.35%		May 2023		31,801			—
Fund V Variable Rate	LIBOR + 1.85% - SOFR + 2.76%	LIBOR+1.50%-LIBOR+2.20%	Jun 2022 - Nov 2026		58,878			1,354
Fund V Variable Rate - Swapped (a)	2.43%-4.78%	2.95%-4.78%	Feb 2022 - Dec 2024		297,731			334,323
Total Fund V Mortgages Payable					388,410			335,677
Net unamortized debt issuance costs					(3,958	)		(5,722	)
Unamortized premium					446			548
Total Mortgages Payable				$	1,140,293		$	1,148,586
Unsecured Notes Payable
Core Variable Rate Credit Facility		LIBOR+2.55%		$	—		$	30,000
Core Variable Rate Unsecured Term Loans - Swapped (a)	3.65%-5.32%	2.49%-5.02%	Jun 2026		400,000			350,000
Total Core Unsecured Notes Payable					400,000			380,000
Fund II Unsecured Notes Payable	LIBOR+2.25%	LIBOR+1.65%	Sep 2022		40,000			40,000
Fund IV Subscription Facility	SOFR+2.01%	LIBOR+1.90%	Dec 2022		5,000			864
Fund V Subscription Facility	LIBOR+1.90%	LIBOR+1.60%	May 2022		118,028			250

Net unamortized debt issuance costs					(3,988	)		(256	)
Total Unsecured Notes Payable				$	559,040		$	420,858
Unsecured Line of Credit
Core Unsecured Line of Credit - Variable Rate	LIBOR + 1.40%		Jun 2025	$	46,491		$	—
Core Unsecured Line of Credit -Swapped (a)	3.65%-5.32%	2.49%-5.02%	Jun 2025		66,414			138,400
Total Unsecured Line of Credit				$	112,905		$	138,400

Total Debt - Fixed Rate (b, c)				$	1,038,803		$	1,124,255
Total Debt - Variable Rate (d)					780,935			589,019
Total Debt					1,819,738			1,713,274
Net unamortized debt issuance costs					(7,946	)		(5,978	)


Unamortized premium		446		548
Total Indebtedness	$	1,812,238	$	1,707,844

At December 31, 2021, the stated rates ranged from LIBOR + 1.50% to LIBOR +1.90% for Core variable-rate debt; LIBOR + 2.75% for Fund III variable-rate debt; LIBOR +2.00% for Fund IV variable-rate debt; LIBOR + 1.50% to LIBOR + 2.20% for Fund V variable-rate debt; LIBOR + 1.55% for Core variable-rate unsecured term loans; and LIBOR + 1.40%for Core variable-rate unsecured lines of credit.

Includes $860.4 million and $969.7 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented.

Fixed-rate debt at December 31, 2021 and 2020 includes $0.0 million and $3.2 million, respectively of Core swaps that may be used to hedge debt instruments of the Funds.

Includes $110.5 million and $103.2 million, respectively, of variable-rate debt that is subject to interest cap agreements.

Credit Facility

Since February 2018 and as subsequently amended, the Company has had a senior unsecured credit facility (the “Credit Facility”) comprised of a $250.0 million senior unsecured revolving credit facility (the “Revolver”) which bore interest at LIBOR + 1.40%, and a $350.0 million senior unsecured term loan (the “Term Loan”) which bore interest at LIBOR + 1.30%. The Revolver was scheduled to mature on March 31, 2022, subject to two six-month extension options, and the $350.0 million Term Loan was scheduled to expire on March 31, 2023.

During June 2021, the Company modified the Credit Facility, providing for a $50.0 million increase in the Revolver and a $50.0 million increase in the Term Loan. This amendment resulted in borrowing capacity of up to $700.0 million in principal amount, which includes a $300.0 million Revolver maturing on June 29, 2025, subject to two six-month extension options, and a $400.0 million Term Loan expiring on June 29, 2026. In addition, the amendment provides for revisions to the accordion feature, which allows for one or more increases in the revolving credit facility or term loan facility, for a maximum aggregate principal amount not to exceed $900.0 million. The $300.0 million Revolver bears interest at LIBOR + 1.40% and the $400.0 million Term Loan bears interest at LIBOR + 1.55% at December 31, 2021, all of which were swapped to fixed rates. In connection with the amendment to the Credit Facility, during the second quarter of 2021, the Company (i) capitalized $2.7 million of debt issuance costs associated with the amended Revolver, which are included in deferred financing costs within other assets (Note 6); (ii) capitalized $3.1 million associated with the amended Term Loan, which are included in net unamortized debt issuance costs in the table above; and (iii) expensed $0.1 million of third-party costs associated with the Term Loan.

Mortgages and Other Notes Payable

During the year ended December 31, 2021, the Company:

•

assumed a $31.8 million mortgage upon the acquisition of Canton Marketplace (Note 3) with an interest rate of 3.35% and a maturity date of May 1, 2023; Entered into a $29.2 million mortgage collateralized by Monroe Marketplace (Note 3) with an interest rate of SOFR+2.76% and a maturity date of November 12, 2026;

•

extended 11 Fund mortgages, two of which were extended during the first quarter totaling $37.7 million (after principal reductions of $1.7 million), five of which were extended during the second quarter totaling $125.7 million (after principal reductions of $6.5 million), two of which were extended during the third quarter totaling $53.1 million (after principal reductions of $10.2 million), and two of which were extended during the fourth quarter totaling $14.8 million (after principal reductions of $3.0 million);

•

modified the terms of the Fund IV Bridge facility during the fourth quarter reflecting an extension of maturity to June 30, 2022 which had an outstanding balance of $64.2 million prior to modification. The facility had an outstanding balance of $59.2 million and $79.2 million at December 31, 2021 and 2020, respectively, reflecting repayments during 2021. In addition, during the first quarter of 2021, the interest rate was changed from LIBOR plus 2.00% to LIBOR plus 2.50% with a floor of 0.25%;

•

refinanced a Fund II loan for $18.5 million with a new loan of $16.8 million at an interest rate of LIBOR + 2.75% maturing August 11, 2022;

•

entered into a swap agreement during the first quarter with a notional value of $16.7 million, for its New Towne Plaza mortgage replacing the existing swap which expired. In addition, the Company terminated two forward-starting interest rate swaps resulting in cash proceeds of approximately $3.4 million during the first quarter (Note 9);

•

repaid one Core mortgage of $6.7 million in connection with the sale of 60 Orange Street during the first quarter and four Fund mortgages in the aggregate amount of $23.5 million in connection with the sale of the properties during the second quarter (Note 3); and

•

made scheduled principal payments of $8.6 million.

During the year ended December 31, 2020, the Company:

•

extended the maturity date of a $200.0 million Fund II loan from May 2020 to May 2022. In addition, the Company extended seven Fund mortgages, two of which were extended for one year during the first quarter with aggregate outstanding balances of $46.0 million at December 31, 2020, two of which were extended for one year during the second quarter with an aggregate outstanding balance of $51.3 million at December 31, 2020, one of which was extended for one year during the third quarter with aggregate outstanding balances of $40.0 million at December 31, 2020, and one of which were extended for a minimum of one year during the fourth quarter with an outstanding balances of $52.0 million at December 31, 2020;

•

modified two Fund IV loans aggregating $67.4 million requiring the repayment of $8.0 million;

•

entered into two swap agreements in February 2020 each with notional values of $50.0 million, which are not effective until April 2022 and April 2023 and were later terminated in the first quarter of 2021. In July 2020, two previously-executed forward swap agreements took effect with current notional values as of December 31, 2020 of $30.4 million each (Note 9);

•

repaid one Core mortgage of $26.3 million in connection with the litigation settlement discussed below and one Fund IV mortgage of $11.6 million in connection with the sale of Colonie Plaza in April 2020 (Note 3); and

•

made scheduled principal payments of $6.1 million.

At December 31, 2021 and 2020, the Company’s mortgages were collateralized by 37 and 40 properties, respectively, and the related tenant leases. Certain loans are cross-collateralized and contain cross-default provisions. The loan agreements contain customary representations, covenants and events of default. Certain loan agreements require the Company to comply with affirmative and negative covenants, including the maintenance of debt service coverage and leverage ratios. The Company is not in default on any of its loan agreements, except as noted below. A portion of the Company’s variable-rate mortgage debt has been effectively fixed through certain cash flow hedge transactions (Note 9).

The mortgage loan collateralized by the property held by Brandywine Holdings in the Core Portfolio, was in default and subject to litigation at December 31, 2019. On October 30, 2020, the Company settled the litigation for approximately $30.0 million resulting in a gain on debt extinguishment of $18.3 million reflected in Realized and unrealized holding gains on investments and other in the consolidated statements of operations, of which the Company’s proportionate share was $4.1 million. Upon settlement of this litigation, the Company obtained its partner’s 78.22% noncontrolling interest for nominal consideration, resulting in a reduction of additional paid-in capital of $15.9 million (Note 11).

During the third quarter of 2019, the Company recognized income of $5.0 million related to Fund II’s New Market Tax Credit transaction (“NMTC”) involving its City Point project. NMTCs were created to encourage economic development in low income communities and provided for a 39% tax credit on certain qualifying invested equity/loans. In 2012, the NMTCs were transferred to a group of investors (“Investors”) in exchange for $5.2 million. The NMTCs were subject to recapture under various circumstances, including redemption of the loan/investment prior to a requisite seven-year hold period, and recognition of income was deferred. Upon the expiration of the seven-year period and there being no further obligations, the Company recognized income of $5.0 million, of which the Company’s proportionate share was $1.4 million, which is included in Realized and unrealized holding gains on investments and other in the consolidated statements of operations.

Unsecured Notes Payable

Unsecured notes payable for which total availability was $16.3 million and $128.7 million at December 31, 2021 and 2020, respectively, are comprised of the following:

•

The outstanding balance of the Core term loan was $400.0 million and $350.0 million at December 31, 2021 and 2020, respectively. The Company previously entered into swap agreements fixing the rates of the Core term loan balance.

•

On July 1, 2020, the Company obtained a $30.0 million Core term loan, with an accordion option to increase up to $90.0 million. This term loan was scheduled to mature on June 30, 2021 and bore interest at LIBOR plus 2.55% with a LIBOR floor of 0.75%. The term loan was repaid during June 2021. The outstanding balance at December 31, 2021 and December 31, 2020 was $0 and $30.0 million, respectively.

•

Fund II has a $40.0 million term loan secured by the real estate assets of City Point Phase II and guaranteed by the Operating Partnership. In September 2021, the Company modified the term loan, extending the maturity to September 2022 and the interest rate was increased from LIBOR plus 1.65% to LIBOR plus 2.25%. The outstanding balance of the Fund II term loan was $40.0 million at each of December 31, 2021 and 2020. There was no availability at each of December 31, 2021 and 2020.

•

Fund IV has a $5.0 million subscription line with an outstanding balance and total available credit of $5.0 million and $0, respectively at December 31, 2021. In December 2021, Fund IV modified the line to extend the maturity to December 29, 2022 at new interest rate of SOFR + 2.01%. The outstanding balance and total availability at December 31, 2020 were $0.9 million and $0.5 million, respectively, reflecting letters of credit of $3.6 million.

•

Fund V has a $150.0 million subscription line collateralized by Fund V’s unfunded capital commitments, and, to the extent of Acadia’s capital commitments, is guaranteed by the Operating Partnership. In April 2021, the Company modified the subscription line, extending

the maturity to May 2022 and the interest rate was increased from LIBOR plus 1.60% to LIBOR plus 1.90%. The outstanding balance and total available credit of the Fund V subscription line was $118.0 and $16.3 million, respectively at December 31, 2021 reflecting outstanding letters of credit of $15.7 million. The outstanding balance and total available credit were $0.3 million and $128.2 million at December 31, 2020, respectively, reflecting outstanding letters of credit of $21.5 million.

Unsecured Revolving Line of Credit

The Company had a total of $183.1 million and $101.1 million, respectively, available under its $300.0 million Core Revolver, reflecting borrowings of $112.9 and $138.4 million and letters of credit of $4.0 million and $10.5 million at December 31, 2021 and 2020, respectively. At each of December 31, 2021 and 2020, $66.4 million and $138.4 million, respectively, of the Core unsecured revolving line of credit was swapped to a fixed rate.

Scheduled Debt Principal Payments

The scheduled principal repayments, without regard to available extension options (described further below), of the Company’s consolidated indebtedness, as of December 31, 2021 are as follows (in thousands):


Year Ending December 31,
2022	$	757,199
2023		110,541
2024		212,020
2025		178,236
2026		445,967
Thereafter		115,775
		1,819,738
Unamortized premium		446
Net unamortized debt issuance costs		(7,946	)
Total indebtedness	$	1,812,238

The table above does not reflect available extension options (subject to customary conditions) on consolidated debt of $187.2 million contractually due in 2022, $41.5 million contractually due in 2023, $0.0 million contractually due in 2024 and $112.9 million contractually due in 2025; all for which the Company has available options to extend by up to 12 months and for some an additional 12 months thereafter. However, there can be no assurance that the Company will be able to successfully execute any or all of its available extension options.

See Note 5 for information about liabilities of the Company’s unconsolidated affiliates.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Financial Instruments and Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements

. Financial Instruments and Fair Value Measurements

The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps and interest rate swaps; and Level 3, for financial instruments or other assets/liabilities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring the Company to develop its own assumptions.

Items Measured at Fair Value on a Recurring Basis

The methods and assumptions described below were used to estimate the fair value of each class of financial instrument. For significant Level 3 items, the Company has also provided the unobservable inputs along with their weighted-average ranges.

Money Market Funds — The Company has money market funds, which at times have zero balances and are included in Cash and cash equivalents in the consolidated balance sheets, and are comprised of government securities and/or U.S. Treasury bills. These funds were classified as Level 1 as we used quoted prices from active markets to determine their fair values.

Equity Investments –Albertsons became publicly traded during 2020 (Note 5). Upon Albertsons’ IPO, the Company’s Investment in Albertsons has a readily determinable market value (traded on an exchange) and is being accounted for as a Level 1 investment.

Derivative Assets — The Company has derivative assets, which are included in Other assets, net on the consolidated balance sheets, and comprised of interest rate swaps and caps. The derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. See “Derivative Financial Instruments,” below.

Derivative Liabilities — The Company has derivative liabilities, which are included in Accounts payable and other liabilities on the consolidated balance sheets and are comprised of interest rate swaps. These derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 because they are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. See “Derivative Financial Instruments,” below.

Other than the Investment in Albertsons described above, the Company did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during the year ended December 31, 2021 or 2020.

The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (in thousands):


	December 31, 2021						December 31, 2020
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Money market funds	$	—	$	—	$	—	$	—	$	—	$	—
Derivative financial instruments		—		7		—		—		1		—
Investment in Albertsons (Note 5)		124,316		—		—		72,391		—		—
Liabilities
Derivative financial instruments		—		45,027		—		—		89,612		—

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Items Measured at Fair Value on a Nonrecurring Basis (Including Impairment Charges)

During 2020 and 2021, the Company was impacted by the COVID-19 Pandemic (Note 12), which caused the Company to reduce its holding periods and forecasted operating income at certain properties. As a result, several impairments were recorded. Impairment charges for the periods presented are as follows (in thousands):

Property and Location

Owner

Triggering Event

Level 3 Inputs

Effective Date

Total

Acadia's Share

2021 Impairment Charges

210 Bowery commercial unit,
New York, NY

Fund IV

Reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Sept 30, 2021

3,016

697

27 E. 61st Street
New York, NY

Fund IV

Reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Sept 30, 2021

6,909

1,597

Total 2021 Impairment Charges

9,925

2,294

2020 Impairment Charges

Cortlandt Crossing,
Mohegan Lake, NY

Fund III

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

27,402

6,726

654 Broadway,
New York, NY

Fund III

Reduced holding period

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

6,398

1,570

146 Geary Street,
San Francisco, CA

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

6,718

1,553

801 Madison Avenue,
New York, NY

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

11,031

2,551

717 N. Michigan Avenue,
Chicago, IL

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Dec 31, 2020

17,392

4,021

110 University,
New York, NY

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Dec 31, 2020

16,238

3,754

Fifth Wall Investment

Core

Decline in fair value

Projections of: reported fair value of net assets

Dec 31, 2020

419

Total 2020 Impairment Charges

85,598

20,594

2019 Impairment Charges

210 Bowery residential units,
New York, NY

Fund IV

Reduced selling price

Offering price

Jun 30, 2019

1,400

321

210 Bowery residential units,
New York, NY

Fund IV

Reduced selling price

Contract sales price

Sep 30, 2019

321

Total 2019 Impairment Charges

1,721

395

Derivative Financial Instruments

The Company had the following interest rate swaps and caps for the periods presented (dollars in thousands):


					Strike Rate								Fair Value
Derivative Instrument	Aggregate Notional Amount		Effective Date	Maturity Date	Low				High			Balance Sheet Location	December 31, 2021			December 31, 2020
Core																(As Restated)
Interest Rate Swaps	$	539,369	Dec 2012-Jul 2020	Mar 2022-Jul 2030		1.71	%	—		3.77	%	Other Liabilities	$	(40,650	)	$	(74,990	)
	$	539,369											$	(40,650	)	$	(74,990	)

Fund II
Interest Rate Swap	$	—	Oct 2014	Nov 2021		1.49	%	—		1.49	%	Other Liabilities	$	—		$	(219	)
Interest Rate Cap		45,000	Mar 2019	Mar 2022		3.50	%	—		3.50	%	Other Assets		—			—
	$	45,000											$	—		$	(219	)

Fund IV
Interest Rate Swaps	$	23,316	Mar 2017-Dec 2019	Apr 2022-Dec 2022		1.48	%	—		2.61	%	Other Liabilities	$	(167	)	$	(1,186	)
Interest Rate Caps		71,338	Dec 2020 - Jul 2021	Dec 2022-Jul 2023		3.00	%	—		3.50	%	Other Assets		7			1
	$	94,654											$	(160	)	$	(1,185	)

Fund V
Interest Rate Swaps	$	297,731	Jun 2018-Feb 2021	Feb 2022-Oct 2024		0.23	%	—		2.88	%	Other Liabilities	$	(4,210	)	$	(13,217	)
	$	297,731											$	(4,210	)	$	(13,217	)

Total asset derivatives													$	7		$	1
Total liability derivatives													$	(45,027	)	$	(89,612	)

All of the Company’s derivative instruments have been designated as cash flow hedges and hedge the future cash outflows on variable-rate debt (Note 8). It is estimated that approximately $15.3 million included in Accumulated other comprehensive loss related to derivatives will be reclassified to interest expense within the next twelve months. As of December 31, 2021 and 2020, no derivatives were designated as fair value hedges or hedges of net investments in foreign operations. Additionally, the Company does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated hedges.

During the first quarter of 2021, the Company terminated two interest rate swaps with forward effective dates with an aggregate notional value of $100.0 million (Note 8) for cash proceeds of $3.4 million. As the hedged forecasted transaction is still expected, amounts deferred in Accumulated other comprehensive loss will be amortized into earnings as a reduction of interest expense over the original term of the swaps beginning in 2022.

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of its debt funding and, from time to time, through the use of derivative financial instruments. The Company enters into derivative financial instruments to manage exposures that result in the receipt or payment of future known and uncertain cash amounts, the values of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings.

The Company is exposed to credit risk in the event of non-performance by the counterparties to the swaps if the derivative position has a positive balance. The Company believes it mitigates its credit risk by entering into swaps with major financial institutions. The Company continually monitors and actively manages interest costs on its variable-rate debt portfolio and may enter into additional interest rate swap positions or other derivative interest rate instruments based on market conditions.

Credit Risk-Related Contingent Features

The Company has agreements with each of its swap counterparties that contain a provision whereby if the Company defaults on certain of its unsecured indebtedness, the Company could also be declared in default on its swaps, resulting in an acceleration of payment under the swaps.

Other Financial Instruments

The Company’s other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands, inclusive of amounts attributable to noncontrolling interests where applicable):


			December 31, 2021				December 31, 2020
	Level		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
							(As Restated)		(As Restated)
Notes Receivable (a)		3	$	153,886	$	154,093	$	100,882	$	101,567
Mortgage and Other Notes Payable (a)		3		1,143,805		1,125,571		1,153,760		1,134,560
Investment in non-traded equity securities (b)		3		3,656		4,062		1,726		1,456
Unsecured notes payable and Unsecured line of credit (c)		2		675,933		680,171		559,514		544,532

The Company determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the borrower or tenant, where applicable, and interest rate risk. The Company also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the borrower, the time until maturity and the current market interest rate environment.

Represents the Operating Partnership’s cost-method investment in Fifth Wall (Note 5).

The Company determined the estimated fair value of the unsecured notes payable and unsecured line of credit using quoted market prices in an open market with limited trading volume where available. In cases where there was no trading volume, the Company determined the estimated fair value using a discounted cash flow model using a rate that reflects the average yield of similar market participants.

The Company’s cash and cash equivalents, restricted cash, rents receivable, accounts payable and certain financial instruments included in other assets and other liabilities had fair values that approximated their carrying values due to their short maturity profiles at December 31, 2021.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

10. Commitments and Contingencies

The Company is involved in various matters of litigation arising out of, or incident to, its business. While the Company is unable to predict with certainty the outcome of any particular matter, management does not expect, when such litigation is resolved, that the Company’s resulting exposure to loss contingencies, if any, will have a material adverse effect on its consolidated financial position or results of operations.

Commitments and Guaranties

In conjunction with the development and expansion of various properties, the Company has entered into agreements with general contractors for the construction or development of properties aggregating approximately $38.1 million and $32.7 million as of December 31, 2021 and 2020, respectively.

At December 31, 2021 and 2020, the Company had Core and Fund letters of credit outstanding of $19.7 million and $35.6 million, respectively. The Company has not recorded any obligation associated with these letters of credit. The majority of the letters of credit are collateral for existing indebtedness and other obligations of the Company.

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss

12 Months Ended

Dec. 31, 2021

Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss

. Shareholders’ Equity, Noncontrolling Interests and Other Comprehensive Loss

Common Shares and Units

In addition to the ATM Program activity discussed below, the Company completed the following transactions in its Common Shares during the year ended December 31, 2021:

•

The Company withheld 3,050 Restricted Shares to pay the employees’ statutory minimum income taxes due on the value of the portion of their Restricted Shares that vested.

•

The Company recognized Common Share and Common OP Unit-based compensation expense totaling $9.4 million in connection with Restricted Shares and Units (Note 14).

In addition to the ATM Program and share repurchase activity discussed below, the Company completed the following transactions in its Common Shares during the year ended December 31, 2020:

•

The Company withheld 2,075 Restricted Shares to pay the employees’ statutory minimum income taxes due on the value of the portion of their Restricted Shares that vested.

•

The Company recognized Common Share and Common OP Unit-based compensation expense totaling $8.4 million in connection with Restricted Shares and Units (Note 14).

ATM Program

The Company has an at-the-market equity issuance program (“ATM Program”) which provides the Company an efficient and low-cost vehicle for raising public equity to fund its capital needs. The Company entered into its current $250.0 million ATM Program (which replaced its prior program) in the second quarter of 2019 and also added an optional “forward purchase” component. The Company has not issued any shares on a forward basis during the year ended December 31, 2021 or 2020. During the year ended December 31, 2021 the Company sold 2,889,371 Common Shares under its ATM Program for gross proceeds of $64.9 million, or $63.9 million net of issuance costs, at a weighted-average gross price per share of $22.46. During the year ended December 31, 2019, the Company sold 5,164,055 Common Shares under its ATM Program for gross proceeds of $147.7 million, or $145.5 million net of issuance costs, at a weighted-average gross price per share of $28.61. During the year ended December 31, 2020, the Company did not sell any Common Shares under its ATM Program. Refer to Note 18 for additional sales under the ATM program.

Share Repurchase Program

During 2018, the Company’s board of trustees (the “Board”) approved a new share repurchase program, which authorizes management, at its discretion, to repurchase up to $200.0 million of its outstanding Common Shares. The program does not obligate the Company to repurchase any specific number of Common Shares and may be discontinued or extended at any time. The Company did not repurchase any shares during the year ended December 31, 2021. During the first quarter of 2020, the Company repurchased 1,219,065 Common Shares for $22.4 million, inclusive of $0.1 million of fees, at a weighted average price per share of $18.29, under the share repurchase program, under which $122.6 million remains available at December 31, 2021.

Dividends and Distributions

The following table sets forth the distributions declared and/or paid during the periods presented:


Date Declared	Amount Per Share		Record Date	Payment Date

November 5, 2019	$	0.29	December 31, 2019	January 15, 2020
February 26, 2020	$	0.29	March 31, 2020	April 15, 2020
March 15, 2021	$	0.15	March 31, 2021	April 15, 2021
May 5, 2021	$	0.15	June 30, 2021	July 15, 2021
August 5, 2021	$	0.15	September 30, 2021	October 15, 2021
November 3, 2021	$	0.15	December 31, 2021	January 14, 2022

Beginning with the second quarter of 2020, the Board temporarily suspended distributions on its Common Shares and Common OP Units, which suspension the Board determined to continue through the fourth quarter of 2020; however, distributions of $0.1 million were payable to preferred unit holders at each of June 30, 2020, September 30, 2020 and December 31, 2020.

Accumulated Other Comprehensive Loss

The following tables set forth the activity in accumulated other comprehensive loss for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	Acadia's Share
Balance at January 1, 2021	$	(74,891	)

Other comprehensive income before reclassifications - swap agreements		30,500
Reclassification of realized interest on swap agreements		21,407
Net current period other comprehensive income		51,907
Net current period other comprehensive income attributable to noncontrolling interests		(13,230	)
Balance at December 31, 2021	$	(36,214	)

Balance at January 1, 2020	$	(31,474	)

Other comprehensive loss before reclassifications - swap agreements		(73,686	)
Reclassification of realized interest on swap agreements		15,059
Net current period other comprehensive loss		(58,627	)
Net current period other comprehensive loss attributable to noncontrolling interests		15,210
Balance at December 31, 2020	$	(74,891	)

Balance at January 1, 2019	$	516

Other comprehensive loss before reclassifications		(35,883	)
Reclassification of realized interest on swap agreements		(870	)
Net current period other comprehensive loss		(36,753	)
Net current period other comprehensive income attributable to noncontrolling interests		4,763
Balance at December 31, 2019	$	(31,474	)

Noncontrolling Interests

The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2021, 2020 and 2019 (dollars in thousands):


	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at January 1, 2021	$	89,431		$	519,734		$	609,165
Distributions declared of $0.60 per Common OP Unit and distributions on Preferred OP Units		(4,185	)		—			(4,185	)
Net income for the year ended December 31, 2021		2,075			407			2,482
Conversion of 89,765 Common OP Units to Common Shares by limited partners of the Operating Partnership		(1,431	)		—			(1,431	)
Cancellation of OP Units (c)		(568	)		—			(568	)
Other comprehensive income - unrealized gain on valuation of swap agreements		2,072			3,918			5,990
Reclassification of realized interest expense on swap agreements		210			7,030			7,240
Noncontrolling interest contributions		—			30,164			30,164
Noncontrolling interest distributions		—			(27,051	)		(27,051	)
Employee Long-term Incentive Plan Unit Awards		11,284			—			11,284
Reallocation of noncontrolling interests (d)		(4,768	)		—			(4,768	)
Balance at December 31, 2021	$	94,120		$	534,202		$	628,322

Balance at January 1, 2020	$	97,670		$	548,769		$	646,439
Distributions declared of $0.29 per Common OP Unit		(2,218	)		—			(2,218	)
Net income (loss) for the year ended December 31, 2020		125			(56,867	)		(56,742	)
Conversion of 407,594 Common OP Units to Common Shares by limited partners of the Operating Partnership		(6,544	)		—			(6,544	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(2,709	)		(17,995	)		(20,704	)
Reclassification of realized interest expense on swap agreements		174			5,320			5,494
Noncontrolling interest contributions		—			52,174			52,174
Noncontrolling interest distributions		—			(27,574	)		(27,574	)
Employee Long-term Incentive Plan Unit Awards		10,130			—			10,130
Reallocation of noncontrolling interests (d)		(7,197	)		—			(7,197	)
Acquisition of noncontrolling interest		—			15,918			15,918
Cumulative effect of change in accounting principle		—			(11	)		(11	)
Balance at December 31, 2020	$	89,431		$	519,734		$	609,165

Balance at January 1, 2019	$	104,223		$	519,759		$	623,982
Distributions declared of $1.13 per Common OP Unit		(7,124	)		—			(7,124	)
Net income (loss) for the year ended December 31, 2019		3,836			(34,319	)		(30,483	)
Conversion of 307,663 Common OP Units to Common Shares by limited partners of the Operating Partnership		(5,104	)		—			(5,104	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(1,899	)		(2,946	)		(4,845	)
Reclassification of realized interest (income) expense on swap agreements		(62	)		144			82
Noncontrolling interest contributions		—			161,365			161,365
Noncontrolling interest distributions		—			(94,283	)		(94,283	)
Employee Long-term Incentive Plan Unit Awards		9,460			—			9,460
Rebalancing adjustment (c)		(6,611	)		—			(6,611	)
Balance at December 31, 2019	$	96,719		$	549,720		$	646,439

Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,076,849, 3,101,958, and 3,250,603 Common OP Units at December 31, 2021, 2020 and 2019, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2021, 2020 and 2019; (iii) 126,593 Series C Preferred OP Units at December 31, 2021 and 2020, and 136,593 at December 31, 2019; and (iv) 3,371,296, 2,886,207, and 2,673,484 LTIP units at December 31, 2021, 2020 and 2019, respectively, as discussed in Share Incentive Plan (Note 14). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above.

Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and five other subsidiaries.

Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.

Preferred OP Units

There were no issuances of Preferred OP Units during the year ended December 31, 2021.

In 1999 the Operating Partnership issued 1,580 Series A Preferred OP Units in connection with the acquisition of a property, which have a stated value of $1,000 per unit, and are entitled to a preferred quarterly distribution of the greater of (i) $22.50 (9.00% annually) per Series A Preferred OP Unit or (ii) the quarterly distribution attributable to a Series A Preferred OP Unit if such unit was converted into a Common OP Unit. Through December 31, 2021, 1,392 Series A Preferred OP Units were converted into 185,600 Common OP Units and then into Common Shares. The 188 remaining Series A Preferred OP Units are currently convertible into Common OP Units based on the stated value divided by $7.50. Either the Company or the holders can currently call for the conversion of the Series A Preferred OP Units at the lesser of $7.50 or the market price of the Common Shares as of the conversion date.

During 2016, the Operating Partnership issued 442,478 Common OP Units and 141,593 Series C Preferred OP Units to a third party to acquire Gotham Plaza (Note 5). The Series C Preferred OP Units have a value of $100.00 per unit and are entitled to a preferred quarterly distribution of $0.9375 per unit and are convertible into Common OP Units at a rate based on the share price at the time of conversion. If the share price is below $28.80 on the conversion date, each Series C Preferred OP Unit will be convertible into 3.4722 Common OP Units. If the share price is between $28.80 and $35.20 on the conversion date, each Series C Preferred OP Unit will be convertible into a number of Common OP Units equal to $100.00 divided by the closing share price. If the share price is above $35.20 on the conversion date, each Series C Preferred OP Unit will be convertible into 2.8409 Common OP Units. The Series C Preferred OP Units have a mandatory conversion date of December 31, 2025, at which time all units that have not been converted will automatically be converted into Common OP Units based on the same calculations. Through December 31, 2021, 15,000 Series C Preferred OP Units were converted into 51,887 Common OP Units and then into Common Shares.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

12. Leases

Operating Leases

As Lessor

The Company is engaged in the operation of shopping centers and other retail properties that are either owned or, with respect to certain shopping centers, operated under long-term ground leases (see below) that expire at various dates through June 20, 2066, with renewal options. Space in the shopping centers is leased to tenants pursuant to agreements that provide for terms ranging generally from one month to sixty years and generally provide for additional rents based on certain operating expenses as well as tenants’ sales volumes. During the years ended December 31, 2021 and 2020, the Company earned $58.3 million and $57.1 million, respectively, in variable lease revenues, primarily for real estate taxes and common area maintenance charges, which are included in rental income in the consolidated statements of operations.

Reserve Analysis

The activity for the reserves related to billed rents and straight-line rents (including those under specific operating leases where the collection of rents is assessed not to be probable) is as follows:


	Year Ended December 31, 2021
	Balance at Beginning of Period		Provision (Recovery), Net			Write-Offs			Balance at End of Period

Allowance for credit loss - billed rents	$	30,170	$	(2,796	)	$	(3,788	)	$	23,586
Straight-line rent reserves		14,839		2,682			(2,636	)		14,885
Total - rents receivable	$	45,009	$	(114	)	$	(6,424	)	$	38,471


	Year Ended December 31, 2020
	Balance at Beginning of Period		Provision (Recovery), Net		Write-Offs			Balance at End of Period
	(As Restated)							(As Restated)
Allowance for credit loss - billed rents	$	6,669	$	24,569	$	(1,068	)	$	30,170
Straight-line rent reserves		4,739		21,871		(11,771	)		14,839
Total - rents receivable	$	11,408	$	46,440	$	(12,839	)	$	45,009

Tenant Settlement

On September 24, 2021, the Company entered into a conditional settlement agreement with its former tenant and lease guarantor at one of its Core properties for the payment by such former tenant and guarantor of a minimum of $5.4 million in accordance with a payment schedule set forth and subject to the terms in the conditional settlement agreement. The payments relate to tenant’s default under the lease and its subsequent termination by the Company. Given the inherent uncertainties involving collectability, the Company has only recognized $0.3 million in its consolidated financial statements and the remaining amount will be recognized when realized.

As Lessee

During the year ended December 31, 2021, the Company:

•

modified its Rye, New York corporate office lease during the first quarter of 2021. As a result of the modification, the lease was remeasured, and the lease liability and right-of-use asset were each reduced by $0.4 million.

•

terminated its Fund IV lease at 110 University Place in New York City during the second quarter of 2021 (which was previously impaired in 2020, Note 9) for $3.6 million, and de-recognized the related right-of-use asset of $31.4 million, lease liability of $46.0 million and building improvements and other assets totaling $10.3 million, resulting in a gain on lease termination of $0.7 million, or $0.2 million at the Company's share, which is reflected within Gain on disposition of properties in the consolidated statements of operations

During the year ended December 31, 2020, the Company:

•

entered into one new office lease as lessee for which the lease commenced in the third quarter of 2020. The Company recorded a right-of-use asset and corresponding lease liability of $1.7 million

•

modified its 991 Madison master lease by converting the 49-year fixed term to a 15-year term. As a result of the modification, the lease was reclassified from a finance lease to an operating lease during the second quarter of 2020

•

consolidated one property within the BSP II portfolio, 102 E. Broughton, (Note 3, Note 5), which was subject to a ground lease classified as an operating lease, during the second quarter of 2020

•

recorded an impairment charge of $12.3 million on a right-of-use asset for a Fund IV property, 110 University Place (Note 9)

•

renewed one ground lease for Branch Plaza, an operating lease, for 22 years; and

•

modified its 1238 Wisconsin lease agreement for a reduced purchase price from $14.5 million to $11.5 million. As a result, remeasured and reduced its right-of-use asset and lease liability by $1.9 million in the fourth quarter of 2020.

Additional disclosures regarding the Company’s leases as lessee are as follows:


	Year Ended December 31,
	2021			2020
Lease Cost
Finance lease cost:
Amortization of right-of-use assets	$	903		$	1,595
Interest on lease liabilities		388			1,635
Subtotal		1,291			3,230
Operating lease cost		7,184			7,661
Variable lease cost		84			143
Total lease cost	$	8,559		$	11,034

Other Information
Weighted-average remaining lease term - finance leases (years)		32.6			33.4
Weighted-average remaining lease term - operating leases (years)		14.1			26.4
Weighted-average discount rate - finance leases		6.3	%		6.2	%
Weighted-average discount rate - operating leases		5.1	%		5.6	%

Right-of-use assets are included in Operating real estate (Note 3) in the consolidated balance sheet. Lease liabilities are included in Accounts payable and other liabilities in the consolidated balance sheet (Note 6). Operating lease cost comprises amortization of right-of-use assets for operating properties (related to ground rents) or amortization of right-of-use assets for office and corporate assets and is included in Property operating expense or General and administrative expense, respectively, in the consolidated statements of operations. Finance lease cost comprises amortization of right-of-use assets for certain ground leases, which is included in Property operating expense, as well as interest on lease liabilities, which is included in Interest expense in the consolidated statements of operations.

Lease Obligations

The scheduled future minimum (i) rental revenues from rental properties under the terms of non-cancelable tenant leases greater than one year (assuming no new or renegotiated leases or option extensions for such premises) and (ii) rental payments under the terms of all non-cancelable operating and finance leases in which the Company is the lessee, principally for office space, land and equipment, as of December 31, 2021, are summarized as follows (in thousands):


			Minimum Rental Payments
Year Ending December 31,	Minimum Rental Revenues (a)		Operating Leases (b)			Finance Leases (b)
2022	$	211,660	$	5,368		$	34
2023		202,890		5,389			—
2024		178,050		5,414			—
2025		146,624		5,329			—
2026		118,052		5,173			—
Thereafter		480,093		24,434			12,515
		1,337,369		51,107			12,549
Interest		—		(12,348	)		(5,937	)
Total	$	1,337,369	$	38,759		$	6,612

Amount represents contractual lease maturities at December 31, 2021 including any extension options that management determined were reasonably certain of exercise. During the end of March 2020, numerous tenants were forced to suspend operations by government mandate as a result of the COVID-19 Pandemic. The Company has negotiated payment agreements with selected tenants which resulted in rent concessions or deferral of rents as discussed further below.

Minimum rental payments include $18.3 million of interest related to operating leases and $5.9 million related to finance leases and exclude options or renewals not reasonably certain of exercise.

During the years ended December 31, 2021, 2020 and 2019, no single tenant or property collectively comprised more than 10% of the Company’s consolidated total revenues.

COVID-19 Pandemic Impacts

Beginning in March 2020, the COVID-19 Pandemic has had a material adverse impact on economic and market conditions, and consumer activity, and triggered a period of global and domestic economic slowdown. The COVID-19 Pandemic and government responses created disruption in global supply chains and has been adversely impacting many industries, including the domestic retail sectors in which the Company’s tenants operate. Under governmental restrictions and guidance, certain retailers were considered “essential businesses” and were permitted to remain fully operating during the COVID-19 Pandemic, while other “non-essential businesses” were ordered to decrease or close operations for an indeterminate period of time to protect their employees and customers from the spread of the virus. These disruptions, which have substantially ceased as of the date of these financial statements, have impacted the collectability of rent from the Company’s affected tenants primarily in 2020 and to a lesser extent in 2021. While the Company considers disruptions related to the COVID-19 Pandemic to be substantially over, if such government mandated closures are reinstated, they may have a material, adverse effect on the Company’s revenues, results of operations, financial condition, and liquidity in future periods.

Rent Collections – The Company collected or negotiated payment agreements of approximately 98% and 94% of its fourth quarter 2021 pre-COVID billings (original contract rents without regard to deferral or abatement agreements) for its Core Portfolio and the Funds, respectively. Fourth quarter 2020 rent collections were 91% and 82% for its Core Portfolio and the Funds, respectively, at December 31, 2020.

Earnings Impact – The total impact of the COVID-19 Pandemic on earnings was $16.3 million, or $8.6 million at the Company's pro rata share, for the year ended December 31, 2021 compared to $134.0 million, or $53.1 million at the Company's pro rata share, for the year ended December 31, 2020. The Company incurred aggregate credit losses and rent abatements totaling approximately $6.4 million, or $6.3 million at the Company's pro rata share, for the year ended December 31, 2021, compared to $48.4 million, or $32.5 million at the Company's pro rata share, for the year ended December 31, 2020, respectively, primarily related to the COVID-19 Pandemic. In addition, the Company incurred impairment charges of $9.9 million, or $2.3 million at the Company's pro rata share, for the year ended December 31, 2021 compared to $85.6 million, or $20.6 million at the Company's pro rata share, for the year ended December 31, 2020 primarily related to the COVID-19 Pandemic (Note 9).

Other Impacts

•

Rent Concession Agreements – During the year ended December 31, 2021, the Company executed 96 rent concession arrangements with tenants comprised of 18 agreements for rent deferral and 78 agreements for rent abatements. Of these deferral agreements, 16 were accounted for as if no changes to the contract were made and therefore there were no changes to the current or future recognition of revenue and $5.4 million and $10.6 million of deferred receivables are included in Rents receivable in the consolidated balance sheet at December 31, 2021 and 2020, respectively. Rent abatements represented a $6.5 million, or $4.3 million at the Company's pro rata share, reduction in revenues for the year ended December 31, 2021 compared to $1.9 million, or $2.6 million at the Company's pro rata share, for the year ended December 31, 2020. Results for 2020 reflect the impact of 288 rent concession agreements including 60 abatements and 226 deferrals.

•

Occupancy (Unaudited) – At December 31, 2021, the Company’s pro rata Core and Fund leased occupancy rates were 93.2% and 91.4%, respectively, compared to 90.9% and 88.3% respectively, at December 31, 2020 reflecting primarily recovery since the COVID-19 Pandemic in 2020.

Segment Reporting

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

. Segment Reporting

The Company has three reportable segments: Core Portfolio, Funds and Structured Financing. The Company’s Core Portfolio consists primarily of high-quality retail properties located primarily in high-barrier-to-entry, densely-populated metropolitan areas with a long-term investment horizon. The Company’s Funds hold primarily retail real estate in which the Company co-invests with high-quality institutional investors. The Company’s Structured Financing segment consists of earnings and expenses related to notes and mortgages receivable which are held within the Core Portfolio or the Funds (Note 4). Fees earned by the Company as the general partner or managing member of the Funds are eliminated in the Company’s consolidated financial statements and are not presented in the Company’s segments.

The following tables set forth certain segment information for the Company (in thousands):


	As of or for the Year Ended December 31, 2021
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	181,332		$	111,165		$	—		$	—		$	292,497
Depreciation and amortization		(69,103	)		(54,336	)		—			—			(123,439	)
Property operating expenses, other operating and real estate taxes		(56,957	)		(41,916	)		—			—			(98,873	)
General and administrative expenses		—			—			—			(40,125	)		(40,125	)
Impairment charges		—			(9,925	)		—			—			(9,925	)
Gain on disposition of properties		4,612			5,909			—			—			10,521
Operating income		59,884			10,897			—			(40,125	)		30,656
Interest income		—			—			9,065			—			9,065
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties		353			4,977			—			—			5,330
Interest expense		(29,454	)		(38,594	)		—			—			(68,048	)
Realized and unrealized holding gains on investments and other		—			53,654			(4,534	)		—			49,120
Income tax provision		—			—			—			(93	)		(93	)
Net income		30,783			30,934			4,531			(40,218	)		26,030
Net income attributable to noncontrolling interests		(2,276	)		(206	)		—			—			(2,482	)
Net income attributable to Acadia	$	28,507		$	30,728		$	4,531		$	(40,218	)	$	23,548

Real estate at cost (a)	$	2,356,645		$	1,714,962		$	—		$	—		$	4,071,607
Total Assets (a)	$	2,212,877		$	1,894,983		$	153,886		$	—		$	4,261,746
Cash paid for acquisition of real estate	$	26,176		$	135,670		$	—		$	—		$	161,846
Cash paid for development and property improvement costs	$	13,625		$	27,046		$	—		$	—		$	40,671


	As of or for the Year Ended December 31, 2020 As Restated
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	160,262		$	90,646		$	—		$	—		$	250,908
Depreciation and amortization		(76,125	)		(71,104	)		—			—			(147,229	)
Property operating expenses, other operating and real estate taxes		(57,246	)		(40,782	)		—			—			(98,028	)
General and administrative expenses		—			—			—			(35,798	)		(35,798	)
Impairment charges		(419	)		(85,179	)		—			—			(85,598	)
Gain on disposition of properties		174			509			—			—			683
Operating income (loss)		26,646			(105,910	)		—			(35,798	)		(115,062	)
Interest income		—			—			8,979			—			8,979
Equity in losses of unconsolidated affiliates inclusive of gains on disposition of properties		(874	)		(2,183	)		—			—			(3,057	)
Interest expense		(33,185	)		(36,486	)		—			—			(69,671	)
Realized and unrealized holding gains on investments and other		18,564			95,366			(568	)		—			113,362
Income tax provision		—			—			—			(269	)		(269	)
Net income (loss)		11,151			(49,213	)		8,411			(36,067	)		(65,718	)
Net (income) loss attributable to noncontrolling interests		(5,837	)		62,579			—			—			56,742
Net income (loss) attributable to Acadia	$	5,314		$	13,366		$	8,411		$	(36,067	)	$	(8,976	)

Real estate at cost (a)	$	2,330,116		$	1,681,210		$	—		$	—		$	4,011,326
Total Assets (a)	$	2,254,680		$	1,775,507		$	100,882		$	—		$	4,131,069
Cash paid for acquisition of real estate	$	19,963		$	1,245		$	—		$	—		$	21,208
Cash paid for development and property improvement costs	$	11,170		$	25,409		$	—		$	—		$	36,579


	As of or for the Year Ended December 31, 2019 As Restated
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	173,177		$	116,408		$	—	$	—		$	289,585
Depreciation and amortization		(61,819	)		(60,761	)		—		—			(122,580	)
Property operating expenses, other operating and real estate taxes		(47,032	)		(41,199	)		—		—			(88,231	)
General and administrative expenses		—			—			—		(34,299	)		(34,299	)
Impairment charges		—			(1,721	)		—		—			(1,721	)
Gain on disposition of properties		16,771			13,553			—		—			30,324
Operating income		81,097			26,280			—		(34,299	)		73,078
Interest income		—			—			7,988		—			7,988
Equity in earnings (loss) of unconsolidated affiliates inclusive of gains on disposition of properties		9,020			(3,121	)		—		—			5,899
Interest expense		(28,304	)		(40,909	)		—		—			(69,213	)
Realized and unrealized holding gains on investments and other		327			6,620			—		—			6,947
Income tax provision		—			—			—		(1,465	)		(1,465	)
Net income (loss)		62,140			(11,130	)		7,988		(35,764	)		23,234
Net loss attributable to noncontrolling interests		337			30,146			—		—			30,483
Net income attributable to Acadia	$	62,477		$	19,016		$	7,988	$	(35,764	)	$	53,717

Real estate at cost	$	2,252,230		$	1,708,181		$	—	$	—		$	3,960,411
Total Assets	$	2,350,833		$	1,785,919		$	114,943	$	—		$	4,251,695
Cash paid for acquisition of real estate and leasehold interest	$	173,892		$	184,812		$	—	$	—		$	358,704
Cash paid for development and property improvement costs	$	22,724		$	66,661		$	—	$	—		$	89,385

Real estate at cost and total assets for the Funds segment include $657.0 million and $641.7 million, or $190.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2021 and 2020, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Share Incentive and Other Compensation

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share Incentive and Other Compensation

14. Share Incentive and Other Compensation

Share Incentive Plan

On March 23, 2020, the Company’s Board approved the 2020 Share Incentive Plan (the “2020 Plan”), which increased the aggregate number of Common Shares authorized for issuance by 2,650,000 shares. The 2020 Plan authorizes the Company to issue options, Restricted Shares, LTIP Units and other securities (collectively “Awards”) to, among others, the Company’s officers, trustees and employees. At December 31, 2021 a total of 1,911,558 shares remained available to be issued under the Share Incentive Plan.

Restricted Shares and LTIP Units

During the year ended December 31, 2021, the Company issued 636,646 LTIP Units and 11,244 restricted share units (“Restricted Share Units”) to employees of the Company pursuant to the Share Incentive Plan. Certain of these equity awards were granted in performance-based Restricted Share Units or LTIP Units with market conditions as described below (“2020 Performance Shares”). These awards were measured at their fair value on the grant date, incorporating the following factors:

•

A portion of these annual equity awards is granted in performance-based Restricted Share Units or LTIP Units that may be earned based on the Company’s attainment of specified relative total shareholder returns (“Relative TSR”) hurdles.

•

In the event the Relative TSR percentile falls between the 25th percentile and the 50th percentile, the Relative TSR vesting percentage is determined using a straight-line linear interpolation between 50% and 100% and in the event that the Relative TSR percentile falls between the 50th percentile and 75th percentile, the Relative TSR vesting percentage is determined using a straight-line linear interpolation between 100% and 200%.

•

Two-thirds (2/3) of the performance-based LTIP Units will vest based on the Company’s total shareholder return (“TSR”) for the three -year forward-looking performance period relative to the constituents of the SNL U.S. REIT Retail Shopping Center Index and

one-third (1/3) on the Company’s TSR for the three-year forward-looking performance period as compared to the constituents of the SNL U.S. REIT Retail Index (both on a non-weighted basis).

•

If the Company’s performance fails to achieve the aforementioned hurdles at the culmination of the three-year performance period, all performance-based shares will be forfeited. Any earned performance-based shares vest 60% at the end of the performance period, with the remaining 40% of shares vesting ratably over the next two years.

For valuation of the 2021 and 2020 Performance Shares, a Monte Carlo simulation was used to estimate the fair values based on probability of satisfying the market conditions and the projected share prices at the time of payments, discounted to the valuation dates over the three-year performance periods. The assumptions include volatility (48.0% and 21.0%) and risk-free interest rates of (0.2% and 1.4%) for 2021 and 2020, respectively. The total value of the 2021 and 2020 Performance Shares will be expensed over the vesting period regardless of the Company’s performance.

The total value of the above Restricted Share Units and LTIP Units as of the grant date was $12.6 million. Total long-term incentive compensation expense, including the expense related to the Share Incentive Plan, was $9.4 million, $8.4 million and $8.8 million for the years ended December 31, 2021, 2020, and 2019, respectively and is recorded in General and Administrative on the Consolidated Statements of Operations.

In addition, members of the Board have been issued shares and units under the Share Incentive Plan. During 2021, the Company issued 30,321 LTIP Units and 30,592 Restricted Shares to Trustees of the Company in connection with Trustee fees. A portion of LTIP Units and Restricted Shares vest over three years with 33% vesting May 9, 2022 and the remaining amount vesting ratably on May 9, 2023 and May 9, 2024. The remaining awards vest on May 9, 2022. The Restricted Shares do not carry voting rights or other rights of Common Shares until vesting and may not be transferred, assigned or pledged until the recipients have a vested non-forfeitable right to such shares. Dividends are not paid currently on unvested Restricted Shares, but are paid cumulatively from the issuance date through the applicable vesting date of such Restricted Shares. Total trustee fee expense, including the expense related to the Share Incentive Plan, was $1.6 million for the year ended December 31, 2021 and $1.4 million for 2020 and 2019, respectively.

In 2009, the Company adopted the Long-Term Investment Alignment Program (the “Program”) pursuant to which the Company may grant awards to employees, entitling them to receive up to 25% of any potential future payments of Promote to the Operating Partnership from Funds III, IV and V. As of December 31, 2021, the Company has granted such awards to employees representing 25% of the potential Promote payments from Fund III to the Operating Partnership and 23.1% of the potential Promote payments from Fund IV to the Operating Partnership and 8.4% of the potential Promote payments from Fund V to the Operating Partnership. Payments to senior executives under the Program require further Board approval at the time any potential payments are due pursuant to these grants. Compensation relating to these awards will be recognized in each reporting period in which Board approval is granted.

As payments to other employees are not subject to further Board approval, compensation relating to these awards will be recorded based on the estimated fair value at each reporting period in accordance with ASC Topic 718, Compensation – Stock Compensation. The awards in connection with Funds IV and V were determined to have no intrinsic value as of December 31, 2021.

The Company did not recognize any compensation expense for the years ended December 31, 2021, 2020, and 2019, related to the Program in connection with Fund III, Fund IV or Fund V.

A summary of the status of the Company’s unvested Restricted Shares and LTIP Units is presented below:


Unvested Restricted Shares and LTIP Units	Common Restricted Shares			Weighted Grant-Date Fair Value		LTIP Units			Weighted Grant-Date Fair Value
Unvested at January 1, 2019		38,455		$	22.44		891,886		$	26.87
Granted		25,359			28.56		350,726			32.75
Vested		(21,424	)		27.12		(290,753	)		29.30
Forfeited		—			—		(15,679	)		31.49
Unvested at December 31, 2019		42,390			23.73		936,180			28.24
Granted		66,824			13.70		440,829			19.64
Vested		(19,264	)		27.72		(250,241	)		30.44
Forfeited		(39	)		24.77		(3,879	)		24.67
Unvested at December 31, 2020		89,911			15.42		1,122,889			24.38
Granted		43,078			19.94		666,967			19.48
Vested		(43,084	)		16.85		(283,024	)		26.66
Forfeited		(159	)		36.22		(91,637	)		36.22
Unvested at December 31, 2021		89,746		$	16.87		1,415,195		$	20.85

The weighted-average grant date fair value for Restricted Shares and LTIP Units granted for the years ended December 31, 2021 and 2020 were $19.51 and $18.86, respectively. As of December 31, 2021, there was $16.9 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Share Incentive Plan. That cost is expected to be recognized over a weighted-average period of 1.5 years. The total fair value of Restricted Shares that vested for the years ended December 31, 2021 and 2020, was $0.8 million and $0.5 million, respectively. The total fair value of LTIP Units that vested (LTIP units vest primarily in the first quarter) during the years ended December 31, 2021 and 2020, was $7.5 million and $7.6 million, respectively.

Other Plans

On a combined basis, the Company incurred a total of $0.4 million, $0.3 million and $0.3 million of compensation expense related to the following employee benefit plans for the years ended December 31, 2021, 2020 and 2019, respectively:

Employee Share Purchase Plan

The Acadia Realty Trust Employee Share Purchase Plan (the “Purchase Plan”) allows eligible employees of the Company to purchase Common Shares through payroll deductions. The Purchase Plan provides for employees to purchase Common Shares on a quarterly basis at a 15% discount to the closing price of the Company’s Common Shares on either the first day or the last day of the quarter, whichever is lower. A participant may not purchase more than $25,000 in Common Shares per year. Compensation expense will be recognized by the Company to the extent of the above discount to the closing price of the Common Shares with respect to the applicable quarter. On March 23, 2021, the Board adopted, which was subsequently approved by the Company’s shareholders at the 2021 annual meeting of shareholders, the Acadia Realty Trust 2021 Employee Share Purchase Plan which allows for a maximum aggregate issuance of 200,000 Common Shares. A total of 7,721 and 5,266 Common Shares were purchased by employees under the Purchase Plan for the years ended December 31, 2021 and 2020, respectively.

Deferred Share Plan

During 2006, the Company adopted a Trustee Deferral and Distribution Election, under which the participating Trustees earn deferred compensation.

Employee 401(k) Plan

The Company maintains a 401(k) plan for employees under which the Company currently matches 50% of a plan participant’s contribution up to 6% of the employee’s annual salary. A plan participant may contribute up to a maximum of 15% of their compensation, up to $19,500, for the year ended December 31, 2021.

Federal Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Federal Income Taxes

. Federal Income Taxes

The Company has elected to qualify as a REIT in accordance with Sections 856 through 860 of the Code, and intends at all times to qualify as a REIT under the Code. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute at least 90% of its annual REIT taxable income to its shareholders. As a REIT, the Company generally will not be subject to corporate Federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under the Code. As the Company distributed sufficient taxable income for the years ended December 31, 2021, 2020 and 2019, no U.S. Federal income or excise taxes were incurred. If the Company fails to qualify as a REIT in any taxable year, it will be subject to Federal income taxes at the regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for the four subsequent taxable years. Even though the Company qualifies for taxation as a REIT, the Company is subject to certain state and local taxes on its income and property and Federal income and excise taxes on any undistributed taxable income. In addition, taxable income from non-REIT activities managed through the Company’s TRS’s is subject to Federal, state and local income taxes. No more than 20% of the value of our total assets may consist of the securities of one or more TRS.

In the normal course of business, the Company or one or more of its subsidiaries is subject to examination by Federal, state and local jurisdictions, in which it operates, where applicable. The Company expects to recognize interest and penalties related to uncertain tax positions, if any, as income tax expense. For the three years ended December 31, 2021, the Company recognized no material adjustments regarding its tax accounting treatment for uncertain tax provisions. As of December 31, 2021, the tax years that remain subject to examination by the major tax jurisdictions under applicable statutes of limitations are generally the year 2018 and forward.

Reconciliation of Net Income to Taxable Income

Reconciliation of GAAP net income attributable to Acadia to taxable income (loss) is as follows:


	Year Ended December 31,
(in thousands)	2021			2020			2019
				(As Restated)			(As Restated)
Net income (loss) attributable to Acadia	$	23,548		$	(8,976	)	$	53,717
Deferred rental and other income (loss) (a)		3,209			(2,498	)		1,203
Book/tax difference - depreciation and amortization (a)		24,756			27,052			21,688
Straight-line rent and above- and below-market rent adjustments (a)		(8,588	)		8,630			(10,949	)
Book/tax differences - equity-based compensation		7,663			6,825			7,177
Joint venture equity in earnings, net (a)		3,962			(163	)		15,571
Impairment charges and reserves		2,657			18,734			—
Acquisition costs (a)		22			14			63
Gain on disposition of properties		(2,170	)		4,936			2,375
Book/tax differences - miscellaneous		(1,203	)		(36	)		(2,145	)
Taxable income	$	53,856		$	54,518		$	88,700
Distributions declared (b)	$	52,872		$	24,937		$	96,310

Adjustments from certain subsidiaries and affiliates, which are consolidated for financial reporting but not for tax reporting, are included in the reconciliation item “Joint venture equity in earnings, net.”

The entire fourth quarter 2021 dividend of $14.4 million (paid in January 2022) was attributed to 2021. Any additional distributions required for REIT qualification may be made through October 15, 2022. The entire fourth quarter 2019 dividend of $25.2 million (paid in January 2020) was attributed to 2020.

Characterization of Distributions

The Company has determined that the cash distributed to the shareholders for the periods presented is characterized as follows for Federal income tax purposes:


	Year Ended December 31,
	2021					2020					2019
	Per Share		%			Per Share		%			Per Share		%
Ordinary income - Non-Section 199A	$	—		—	%	$	—		—	%	$	—		—	%
Ordinary income - Section 199A		0.550		92	%		0.520		90	%		0.820		77	%
Qualified dividend		0.010		1	%		—		—	%		—		—	%
Capital gain		0.040		7	%		0.060		10	%		0.240		23	%
Total (a)	$	0.600		100	%	$	0.580		100	%	$	1.060		100	%

The fourth quarter 2021 regular dividend was $0.15 per common share, all of which is allocable to 2021. The fourth quarter 2019 regular dividend was $0.29 per common share, all of which is allocable to 2020.

Taxable REIT Subsidiaries

Income taxes have been provided for using the liability method as required by ASC Topic 740, “Income Taxes.” The Company’s TRS income (loss) and provision for income taxes associated with the TRS for the periods presented are summarized as follows (in thousands):


	Year Ended December 31,
	2021			2020			2019
				(As Restated)			(As Restated)
TRS loss before income taxes	$	(4,240	)	$	(3,856	)	$	(3,117	)
(Provision) benefit for income taxes:
Federal		—			376			754
State and local		—			(268	)		317
TRS net loss before noncontrolling interests		(4,240	)		(3,748	)		(2,046	)
Noncontrolling interests		9			746			(369	)
TRS net loss	$	(4,231	)	$	(3,002	)	$	(2,415	)

The income tax provision for the Company differs from the amount computed by applying the statutory Federal income tax rate to income (loss) before income taxes as follows. Amounts are not adjusted for temporary book/tax differences (in thousands):


	Year Ended December 31,
	2021			2020			2019
				(As Restated)			(As Restated)
Federal tax benefit at statutory tax rate	$	(890	)	$	(810	)	$	(655	)
TRS state and local taxes, net of Federal benefit		(268	)		(244	)		(197	)
Tax effect of:
Permanent differences, net		252			227			239
Adjustment to deferred tax reserve		1,061			851			1,748
Other		(156	)		(132	)		(111	)
REIT state and local income and franchise taxes		94			377			441
Total provision for income taxes	$	93		$	269		$	1,465

As of December 31, 2021, and 2020, the Company’s deferred tax assets were $0.0 and $0.0 million net of applicable reserves of $3.7 million and $2.6 million, respectively and were comprised of capital loss carryovers of $0.1 and $0.1 million and net operating loss carryovers of $3.6 million and $2.5 million, respectively.

Under GAAP a reduction of the carrying amounts of deferred tax assets by a valuation allowance is required, if, based on the evidence available, it is more likely than not (a likelihood of more than 50 percent) that some portion or all of the deferred tax assets will not be realized. The valuation allowance should be sufficient to reduce the deferred tax asset to the amount that is more likely than not to be realized. During 2020, the Company determined that the realization of its deferred tax assets was not likely and as such, the Company recorded a valuation allowance against its deferred tax assets of $0.9 million.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings (Loss) Per Common Share

16. Earnings (Loss) Per Common Share

Basic earnings (loss) per Common Share is computed by dividing net income (loss) attributable to Common Shareholders by the weighted average Common Shares outstanding (Note 11). During the periods presented, the Company had unvested LTIP Units which provide for non-forfeitable rights to dividend equivalent payments. Accordingly, these unvested LTIP Units are considered participating securities and are included in the computation of basic earnings per Common Share pursuant to the two-class method.

Diluted earnings per Common Share reflects the potential dilution of the conversion of obligations and the assumed exercises of securities including the effects of Restricted Share Units issued under the Company’s Share Incentive Plans (Note 14). The effect of such shares is excluded from the calculation of earnings per share when anti-dilutive as indicated in the table below.

The effect of the conversion of Common OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Common Shares on a one-for-one basis. The income allocable to such units is allocated on this same basis and reflected as noncontrolling interests in the accompanying consolidated financial statements. As such, the assumed conversion of these units would have no net impact on the determination of diluted earnings per share.


	Year Ended December 31,
(dollars in thousands)	2021			2020			2019
Numerator:				(As Restated)			(As Restated)
Net income (loss) attributable to Acadia	$	23,548		$	(8,976	)	$	53,717
Less: net income attributable to participating securities		(624	)		(233	)		(413	)
Income (loss) from continuing operations net of income attributable to participating securities	$	22,924		$	(9,209	)	$	53,304

Denominator:
Weighted average shares for basic earnings (loss) per share		87,653,818			86,441,922			84,435,826
Effect of dilutive securities:
Employee unvested restricted shares		—			—			—
Denominator for diluted earnings per share		87,653,818			86,441,922			84,435,826

Basic income (loss) and diluted earnings per Common Share from continuing operations attributable to Acadia	$	0.26		$	(0.11	)	$	0.63

Anti-Dilutive Shares Excluded from Denominator:
Series A Preferred OP Units		188			188			188
Series A Preferred OP Units - Common share equivalent		25,067			25,067			25,067

Series C Preferred OP Units		126,593			126,593			136,593
Series C Preferred OP Units - Common share equivalent		439,556			439,556			474,278
Restricted shares		70,827			76,394			40,821

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

17. Quarterly Financial Data (Unaudited)

As announced on February 15, 2022, the Company has restated its (i) audited consolidated financial statements as of and for the years ended December 31, 2020 and 2019 as illustrated in Note 2; and (ii) its unaudited interim financial statements for the three months ended March 31, 2021 and 2020, the three and six months ended June 30, 2021 and 2020, the three and nine months ended September 30, 2021 and 2020 and the three months ended December 31, 2020 as illustrated in this note; collectively referred to as the Restatement. Amounts depicted as "As Restated" throughout the accompanying consolidated financial statements and footnotes include the impact of the Restatement.

The Company identified two areas of restatement errors, which are depicted in the tables below and relate to one of the following categories:

(a)

an error in accounting treatment at the time of formation related to the improper consolidation of the two Fund Investments that have been adjusted from consolidated investments to investments in unconsolidated affiliates (Note 5) with no impact on net income (loss) or distributions in excess of accumulated earnings. During the Restatement periods, the Fund Investments did not have any significant transactions (new borrowings, acquisitions, or dispositions) other than their ongoing rental operations in the normal course of business.

(b)

a reduction of net income attributable to Acadia of: $0.3 million ($0.01 per share) and $0.0 million ($0.00 per share), for the three months ended March 31, 2021 and 2020, respectively.

a reduction in net income attributable to Acadia of $0.2 million ($0.00 per share) and $0.5 million ($0.01 per share) for the three and six months ended June 30, 2021, respectively;

a reduction in net income attributable to Acadia of $0.1 million ($0.00 per share) and $0.1 million ($0.00 per share) for the three and six months ended June 30, 2020, respectively;

a reduction in net income attributable to Acadia of $0.1 million ($0.00 per share) and $0.6 million ($0.01 per share), for the three and nine months ended September 30, 2021, respectively;

a reduction in net income attributable to Acadia of $0.0 million ($0.00 per share) and $0.1 million ($0.00 per share), for the three and nine months ended September 30, 2020, respectively;

a reduction in net income attributable to Acadia of $0.1 million ($0.01 per share) for the three months ended December 31, 2020; and

The immaterial previously unrecorded adjustments include the recognition of additional reserves for one of the Company's notes receivable, 640 Broadway (Note 4) of $1.4 million or $0.3 million at the Company's share, for the three months ended March 31, 2021; $0.9 million and $2.3 million, or $0.2 million and $0.5 million at the Company's share for the three and six months ended June 30, 2021; and $0.8 million and $3.1 million, or $0.2 million and $0.7 million at the Company's share, for the three and nine months ended September 30, 2021.

(c)

reclassifications of certain prior period amounts to conform to the current period presentation. Reclassifications have no impact on net income (loss) and do not relate to errors and are included here in order to conform the presentation across the periods presented.

On the statement of cash flows for the three months ended March 31, 2020: (i) Allowance for credit loss of $1.3 million and Adjustments to straight-line rent reserves of $3.0 million were reclassified from Credit loss reserves; (ii) Straight-line rents of ($1.1) million were reclassified from the change in Rents receivable and (iii) Non-cash lease expense of $0.6 million and the change in Lease liability - operating leases of ($0.4) million was reclassified from Development, construction and property improvement costs.

On the statement of cash flows for the six months ended June 30, 2020: (i) Allowance for credit loss of $9.7 million and Adjustments to straight-line rent reserves of $6.5 million were reclassified from Credit loss reserves; (ii) Straight-line rents of $2.9 million were reclassified from the change in Rents receivable and (iii) Non-cash lease expense of $1.4 million and the change in Lease liability - operating leases of ($0.8) million was reclassified from Development, construction and property improvement costs.

On the statement of cash flows for the nine months ended September 30, 2020: (i) Allowance for credit loss of $20.5 million and Adjustments to straight-line rent reserves of $19.7 million were reclassified from Credit loss reserves; (ii) Straight-line rents of $4.0 million were reclassified from the change in Rents receivable and (iii) Non-cash lease expense of $2.4 million and the change in Lease liability - operating leases of ($1.0) million was reclassified from Development, construction and property improvement costs.


	March 31, 2020
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,331,043		$	(67,995	)	(a,b)	$	3,263,048
Real estate under development		237,831			(6	)	(a)		237,825
Net investments in real estate		3,568,874			(68,001	)			3,500,873
Notes receivable, net		173,159			—				173,159
Investments in and advances to unconsolidated affiliates		294,195			14,814		(a,b)		309,009
Other assets, net		179,043			(1,978	)	(a)		177,065
Right-of-use assets - operating leases, net		—			—				—
Cash and cash equivalents		23,404			(1,089	)	(a)		22,315
Restricted cash		14,212			(479	)	(a)		13,733
Rents receivable, net		52,251			1,431		(a,b)		53,682
Total assets	$	4,305,138		$	(55,302	)		$	4,249,836

LIABILITIES
Mortgage and other notes payable, net	$	1,170,622		$	(57,592	)	(a,b)	$	1,113,030
Unsecured notes payable, net		480,658			—				480,658
Unsecured line of credit		174,700			—				174,700
Accounts payable and other liabilities		425,330			(1,643	)	(a)		423,687
Lease liability - operating leases, net		—			—				—
Dividends and distributions payable		26,811			—				26,811
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,457			—				15,457
Total liabilities		2,293,578			(59,235	)			2,234,343
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 85,989,836 shares		86			—				86
Additional paid-in capital		1,686,794			—				1,686,794
Accumulated other comprehensive loss		(85,715	)		(299	)	(b)		(86,014	)
Distributions in excess of accumulated earnings		(166,701	)		(49	)	(b)		(166,750	)
Total Acadia shareholders’ equity		1,434,464			(348	)			1,434,116
Noncontrolling interests		577,096			4,281		(a,b)		581,377
Total equity		2,011,560			3,933				2,015,493
Total liabilities and equity	$	4,305,138		$	(55,302	)		$	4,249,836


	Three Months Ended March 31, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	70,457		$	676		(a,b)	$	71,133
Other		963			(1	)	(a)		962
Total revenues		71,420			675				72,095
Operating expenses
Depreciation and amortization		33,377			(729	)	(a)		32,648
General and administrative		9,070			(9	)	(a)		9,061
Real estate taxes		10,447			(252	)	(a)		10,195
Property operating		13,320			(283	)	(a)		13,037
Impairment charges		51,549			—				51,549
Total operating expenses		117,763			(1,273	)			116,490

Gain on disposition of properties		—			—				—
Operating loss		(46,343	)		1,948				(44,395	)
Equity in earnings of unconsolidated affiliates		1,255			(368	)	(a)		887
Interest and other income		2,929			—				2,929
Realized and unrealized holding gains on investments and other		(530	)		—				(530	)
Interest expense		(18,302	)		702		(a,b)		(17,600	)
Loss from continuing operations before income taxes		(60,991	)		2,282				(58,709	)
Income tax benefit		952			2		(a)		954
Net loss		(60,039	)		2,284				(57,755	)
Net loss attributable to noncontrolling interests		51,625			(2,275	)	(a,b)		49,350
Net loss attributable to Acadia	$	(8,414	)	$	9			$	(8,405	)
Net income attributable to participating securities	$	—		$	—			$	—
Shares for basic loss per share		86,972			—				86,972

Basic loss per share	$	(0.10	)	$	—			$	(0.10	)


	Three Months Ended March 31, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated

Net loss	$	(60,039	)	$	2,284			$	(57,755	)
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(74,774	)		239		(a)		(74,535	)
Reclassification of realized interest on swap agreements		977			(15	)	(a)		962
Other comprehensive loss		(73,797	)		224				(73,573	)
Comprehensive loss		(133,836	)		2,508				(131,328	)
Comprehensive loss attributable to noncontrolling interests		70,882			(2,499	)			68,383
Comprehensive Loss attributable to Acadia	$	(62,954	)	$	9			$	(62,945	)


Statement of Changes in Shareholders' Equity - Three Months Ended March 31, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares			Share Amount			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2020		87,050		$	87		$	1,706,357		$	(31,175	)	$	(132,961	)	$	1,542,308		$	644,657			$	2,186,965
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		148			—			2,472			—			—			2,472			(2,472	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,351	)		—			—			(22,352	)		—				(22,352	)
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,849	)			(26,786	)
Employee and trustee stock compensation, net		11			—			171			—			—			171			3,648				3,819
Noncontrolling interest distributions		—			—			—			—			—			—			(3,118	)			(3,118	)
Noncontrolling interest contributions		—			—			—			—			—			—			7,268				7,268
Comprehensive loss		—			—			—			(54,540	)		(8,414	)		(62,954	)		(70,882	)			(133,836	)
Reallocation of noncontrolling interests		—			—			145			—			—			145			(145	)			—
Balance at March 31, 2020		85,990		$	86		$	1,686,794		$	(85,715	)	$	(166,701	)	$	1,434,464		$	577,096			$	2,011,560
Adjustments
Balance at January 1, 2020		—		$	—		$	—		$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
Comprehensive loss		—			—			—			—			9			9			2,499		(a,b)		2,508
Total Adjustments		—		$	—		$	—		$	(299	)	$	(49	)	$	(348	)	$	4,281			$	3,933
As Restated
Balance at January 1, 2020 - As Restated		87,050		$	87		$	1,706,357		$	(31,474	)	$	(133,019	)	$	1,541,951		$	646,439			$	2,188,390
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		148			—			2,472			—			—			2,472			(2,472	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,351	)		—			—			(22,352	)		—				(22,352	)
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,849	)			(26,786	)
Employee and trustee stock compensation, net		11			—			171			—			—			171			3,648				3,819
Noncontrolling interest distributions		—			—			—			—			—			—			(3,118	)			(3,118	)
Noncontrolling interest contributions		—			—			—			—			—			—			7,268				7,268
Comprehensive loss		—			—			—			(54,540	)		(8,405	)		(62,945	)		(68,383	)			(131,328	)
Reallocation of noncontrolling interests		—			—			145			—			—			145			(145	)			—
Balance at March 31, 2020 - As Restated		85,990		$	86		$	1,686,794		$	(86,014	)	$	(166,750	)	$	1,434,116		$	581,377			$	2,015,493


	Three Months Ended March 31, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(60,039	)		2,284			$	(57,755	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		33,377			(729	)	(a,b)		32,648
Straight-line rents		—			(1,094	)	(a,c)		(1,094	)
Non-cash lease expense		—			619		(c)		619
Distributions of operating income from unconsolidated affiliates		1,898			—				1,898
Equity in (earnings) losses of unconsolidated affiliates		(1,255	)		368		(a)		(887	)
Stock compensation expense		3,819			—				3,819
Amortization of financing costs		1,763			(42	)	(a,b)		1,721
Impairment charges		51,549			—				51,549
Credit loss reserves		4,770			(4,770	)	(c)		—
Allowance for credit loss		—			1,238		(a,c)		1,238
Adjustments to straight-line rent reserves		—			967		(b,c)		967
Other, net		(1,107	)		1		(a)		(1,106	)
Changes in assets and liabilities:
Other liabilities		(6,844	)		122		(a)		(6,722	)
Lease liability - operating leases		—			(376	)	(c)		(376	)
Prepaid expenses and other assets		2,107			(177	)	(a)		1,930
Rents receivable		24			2,457		(a,c)		2,481
Accounts payable and accrued expenses		(2,327	)		24		(a)		(2,303	)
Net cash provided by operating activities		27,735			892				28,627
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(19,088	)		—				(19,088	)
Development, construction and property improvement costs		(13,333	)		489		(a,c)		(12,844	)
Proceeds from the disposition of properties, net		—			—				—
Investments in and advances to unconsolidated affiliates and other		(1,525	)		(951	)	(b)		(2,476	)
Return of capital from unconsolidated affiliates and other		5,024			—				5,024
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		200			—				200
Payment of deferred leasing costs		(2,763	)		(17	)	(a)		(2,780	)
Change in control of previously unconsolidated affiliate		—			—				—
Net cash used in investing activities		(90,485	)		(479	)			(90,964	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(1,488	)		—				(1,488	)
Principal payments on unsecured debt		(5,000	)		—				(5,000	)
Proceeds received on mortgage and other notes		689			—				689
Proceeds from unsecured debt		122,245			—				122,245
Payments of finance lease obligations		(625	)		—				(625	)
Proceeds from the sale (repurchase) of Common Shares		(22,352	)		—				(22,352	)
Capital contributions from noncontrolling interests		7,268			—				7,268
Distributions to noncontrolling interests		(4,914	)		—				(4,914	)
Dividends paid to Common Shareholders		(25,245	)		—				(25,245	)
Deferred financing and other costs		(222	)		—				(222	)
Net cash provided by financing activities		70,356			—				70,356
Increase in cash and restricted cash		7,606			413				8,019
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $22,315 and restricted cash of $13,733 end of period	$	37,616		$	(1,568	)		$	36,048


	June 30, 2020
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,368,557		$	(69,895	)	(a)	$	3,298,662
Real estate under development		264,684			(183	)	(a)		264,501
Net investments in real estate		3,633,241			(70,078	)			3,563,163
Notes receivable, net		134,692			—				134,692
Investments in and advances to unconsolidated affiliates		250,825			15,074		(a)		265,899
Other assets, net		196,741			(3,353	)	(a)		193,388
Right-of-use assets - operating leases, net		—			—				—
Cash and cash equivalents		34,273			(1,739	)	(a)		32,534
Restricted cash		14,074			(609	)	(a)		13,465
Rents receivable, net		64,902			(756	)	(a)		64,146
Total assets	$	4,328,748		$	(61,461	)		$	4,267,287

LIABILITIES
Mortgage and other notes payable, net	$	1,161,577		$	(58,622	)	(a,b)	$	1,102,955
Unsecured notes payable, net		472,507			—				472,507
Unsecured line of credit		177,400			—				177,400
Accounts payable and other liabilities		408,266			(4,953	)	(a)		403,313
Lease liability - operating leases, net		—			—				—
Dividends and distributions payable		147			—				147
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,520			—				15,520
Total liabilities		2,235,417			(63,575	)			2,171,842
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,264,641 shares		86			—				86
Additional paid-in capital		1,693,006							1,693,006
Accumulated other comprehensive loss		(90,209	)		—				(90,209	)
Distributions in excess of accumulated earnings		(147,291	)		(133	)			(147,424	)
Total Acadia shareholders’ equity		1,455,592			(133	)			1,455,459
Noncontrolling interests		637,739			2,247		(a)		639,986
Total equity		2,093,331			2,114				2,095,445
Total liabilities and equity	$	4,328,748		$	(61,461	)		$	4,267,287


	Three Months Ended June 30, 2020										Six Months Ended June 30, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	62,639		$	(3,218	)	(a,b)	$	59,421		$	133,096		$	(2,542	)	(a,b)	$	130,554
Other		1,134			(11	)	(a)		1,123			2,097			(12	)	(a)		2,085
Total revenues		63,773			(3,229	)			60,544			135,193			(2,554	)			132,639
Operating expenses
Depreciation and amortization		33,793			(416	)	(a,b)		33,377			67,170			(1,145	)	(a,b)		66,025
General and administrative		8,720			(38	)	(a)		8,682			17,790			(47	)	(a)		17,743
Real estate taxes		10,697			(252	)	(a)		10,445			21,144			(504	)	(a)		20,640
Property operating		16,806			(245	)	(a)		16,561			30,126			(528	)	(a)		29,598
Impairment charges		—			—				—			51,549			—				51,549
Total operating expenses		70,016			(951	)			69,065			187,779			(2,224	)			185,555

Gain on disposition of properties		485			—				485			485			—				485
Operating loss		(5,758	)		(2,278	)			(8,036	)		(52,101	)		(330	)			(52,431	)
Equity in losses of unconsolidated affiliates		(786	)		(394	)	(a)		(1,180	)		469			(762	)	(a)		(293	)
Interest and other income		2,095			—				2,095			5,024			—				5,024
Realized and unrealized holding gains on investments and other		87,811			—				87,811			87,281			—				87,281
Interest expense		(18,319	)		571		(a,b)		(17,748	)		(36,621	)		1,273		(a,b)		(35,348	)
Income from continuing operations before income taxes		65,043			(2,101	)			62,942			4,052			181				4,233
Income tax (provision) benefit		(137	)		—		(a)		(137	)		815			2		(a)		817
Net income		64,906			(2,101	)			62,805			4,867			183				5,050
Net (income) loss attributable to noncontrolling interests		(45,496	)		2,017		(a,b)		(43,479	)		6,129			(258	)	(a,b)		5,871
Net income attributable to Acadia	$	19,410		$	(84	)		$	19,326		$	10,996		$	(75	)		$	10,921
Net income attributable to participating securities	$	244		$	—			$	244		$	233		$	—			$	233
Shares for basic and diluted income per share		86,180			—				86,180			86,576			—				86,576

Basic and diluted income per share	$	0.22		$	—			$	0.22		$	0.12		$	—			$	0.12


	Three Months Ended June 30, 2020										Six Months Ended June 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net income	$	64,906		$	(2,101	)		$	62,805		$	4,867		$	183			$	5,050
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(8,621	)		312		(a,b)		(8,309	)		(83,395	)		551		(a,b)		(82,844	)
Reclassification of realized interest on swap agreements		3,115			(30	)	(a)		3,085			4,092			(45	)	(a)		4,047
Other comprehensive loss		(5,506	)		282				(5,224	)		(79,303	)		506				(78,797	)
Comprehensive income (loss)		59,400			(1,819	)			57,581			(74,436	)		689				(73,747	)
Comprehensive (income) loss attributable to noncontrolling interests		(44,484	)		2,034				(42,450	)		26,398			(465	)			25,933
Comprehensive income (loss) attributable to Acadia	$	14,916		$	215			$	15,131		$	(48,038	)	$	224			$	(47,814	)


Statement of Changes in Shareholders' Equity - Three Months Ended June 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at April 1, 2020		85,990	$	86	$	1,686,794		$	(85,715	)	$	(166,701	)	$	1,434,464		$	577,096			$	2,011,560
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		260		—		4,072			—			—			4,072			(4,072	)			—
Repurchase of Common Shares		—		—		(34	)		—			—			(34	)		—				(34	)
Acquisition of noncontrolling interest		—		—		—			—			—			—			588				588
Dividends/distributions declared ($0.00 Share per Common Share/OP Unit)		—		—		—			—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		15		—		175			—			—			175			2,142				2,317
Noncontrolling interest distributions		—		—		—			—			—			—			(1,418	)			(1,418	)
Noncontrolling interest contributions		—		—		—			—			—			—			21,041				21,041
Comprehensive (loss) income		—		—		—			(4,494	)		19,410			14,916			44,484				59,400
Reallocation of noncontrolling interests		—		—		1,999			—			—			1,999			(1,999	)			—
Balance at June 30, 2020		86,265	$	86	$	1,693,006		$	(90,209	)	$	(147,291	)	$	1,455,592		$	637,739			$	2,093,331
Adjustments
Balance at April 1, 2020		—	$	—	$	—		$	(299	)	$	(49	)	$	(348	)	$	4,281			$	3,933
Comprehensive income (loss)		—		—		—			299			(84	)		215			(2,034	)	(a,b)		(1,819	)
Total Adjustments		—	$	—	$	—		$	—		$	(133	)	$	(133	)	$	2,247			$	2,114
As Restated
Balance at April 1, 2020 - As Restated		85,990	$	86	$	1,686,794		$	(86,014	)	$	(166,750	)	$	1,434,116		$	581,377			$	2,015,493
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		260		—		4,072			—			—			4,072			(4,072	)			—
Repurchase of Common Shares		—		—		(34	)		—			—			(34	)		—				(34	)
Acquisition of noncontrolling interest		—		—		—			—			—			—			588				588
Dividends/distributions declared ($0.00 Share per Common Share/OP Unit)		—		—		—			—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		15		—		175			—			—			175			2,142				2,317
Noncontrolling interest distributions		—		—		—			—			—			—			(1,418	)			(1,418	)
Noncontrolling interest contributions		—		—		—			—			—			—			21,041				21,041
Comprehensive (loss) income		—		—		—			(4,195	)		19,326			15,131			42,450				57,581
Reallocation of noncontrolling interests		—		—		1,999			—			—			1,999			(1,999	)			—
Balance at June 30, 2020 - As Restated		86,265	$	86	$	1,693,006		$	(90,209	)	$	(147,424	)	$	1,455,459		$	639,986			$	2,095,445


Statement of Changes in Shareholders' Equity - Six Months Ended June 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares			Share Amount			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2020		87,050			87			1,706,357			(31,175	)		(132,961	)	$	1,542,308			644,657			$	2,186,965
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,972	)			(26,909	)
Employee and trustee stock compensation, net		26			—			346			—			—			346			5,790				6,136
Noncontrolling interest distributions		—			—			—			—			—			—			(4,536	)			(4,536	)
Noncontrolling interest contributions		—			—			—			—			—			—			28,309				28,309
Comprehensive (loss) income		—			—			—			(59,034	)		10,996			(48,038	)		(26,398	)			(74,436	)
Reallocation of noncontrolling interests		—			—			2,144			—			—			2,144			(2,144	)			—
Balance at June 30, 2020		86,265		$	86		$	1,693,006		$	(90,209	)	$	(147,291	)	$	1,455,592		$	637,739			$	2,093,331
Adjustments
Balance at January 1, 2020		—		$	—		$	—		$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
Comprehensive (loss) income		—			—			—			299			(75	)		224			465		(a,b)		689
Total Adjustments		—		$	—		$	—		$	—		$	(133	)	$	(133	)	$	2,247			$	2,114
As Restated
Balance at January 1, 2020 - As Restated		87,050			87			1,706,357			(31,474	)		(133,019	)	$	1,541,951			646,439			$	2,188,390
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,972	)			(26,909	)
Employee and trustee stock compensation, net		26			—			346			—			—			346			5,790				6,136
Noncontrolling interest distributions		—			—			—			—			—			—			(4,536	)			(4,536	)
Noncontrolling interest contributions		—			—			—			—			—			—			28,309				28,309
Comprehensive (loss) income		—			—			—			(58,735	)		10,921			(47,814	)		(25,933	)			(73,747	)
Reallocation of noncontrolling interests		—			—			2,144			—			—			2,144			(2,144	)			—
Balance at June 30, 2020 - As Restated		86,265		$	86		$	1,693,006		$	(90,209	)	$	(147,424	)	$	1,455,459		$	639,986			$	2,095,445


	Six Months Ended June 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	4,867			183			$	5,050
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		67,170			(1,145	)	(a,b)		66,025
Straight-line rents		—			(2,807	)	(a,c)		(2,807	)
Non-cash lease expense		—			1,368		(c)		1,368
Net unrealized holding gains on investments		(64,937	)		—				(64,937	)
Distributions of operating income from unconsolidated affiliates		2,206			—				2,206
Equity in (earnings) losses of unconsolidated affiliates		(469	)		762		(a)		293
Stock compensation expense		6,136			—				6,136
Amortization of financing costs		2,920			(71	)	(a,b)		2,849
Impairment charges		51,549			—				51,549
Gain on disposition of properties		(485	)		—				(485	)
Credit loss reserves		16,175			(16,175	)	(c)		—
Allowance for credit loss		—			9,620		(a,c)		9,620
Adjustments to straight-line rent reserves		—			6,404		(a,c)		6,404
Other, net		(2,780	)		3		(a)		(2,777	)
Changes in assets and liabilities:
Other liabilities		(6,684	)		175		(a)		(6,509	)
Lease liability - operating leases		—			(807	)	(c)		(807	)
Prepaid expenses and other assets		(4,213	)		(343	)	(a)		(4,556	)
Rents receivable		(25,177	)		3,943		(a,c)		(21,234	)
Accounts payable and accrued expenses		12,222			(2,375	)	(a)		9,847
Net cash provided by operating activities		58,500			(1,265	)			57,235
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(21,208	)		—				(21,208	)
Development, construction and property improvement costs		(20,533	)		1,555		(a,c)		(18,978	)
Proceeds from the disposition of properties, net		13,925			—				13,925
Investments in and advances to unconsolidated affiliates and other		(3,270	)		(1,289	)	(a)		(4,559	)
Return of capital from unconsolidated affiliates and other		7,151			—				7,151
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		187			—				187
Payment of deferred leasing costs		(4,885	)		1,631		(a)		(3,254	)
Change in control of previously unconsolidated affiliate		950			—				950
Net cash used in investing activities		(86,683	)		1,897				(84,786	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(14,360	)		—				(14,360	)
Principal payments on unsecured debt		(69,930	)		—				(69,930	)
Proceeds received on mortgage and other notes		3,340			(1,000	)	(a)		2,340
Proceeds from unsecured debt		181,700			—				181,700
Payments of finance lease obligations		(833	)		—				(833	)
Proceeds from the sale (repurchase) of Common Shares		(22,386	)		—				(22,386	)
Capital contributions from noncontrolling interests		28,309			—				28,309
Distributions to noncontrolling interests		(8,178	)		—				(8,178	)
Dividends paid to Common Shareholders		(50,182	)		—				(50,182	)
Deferred financing and other costs		(960	)		—				(960	)
Net cash provided by financing activities		46,520			(1,000	)			45,520
Increase in cash and restricted cash		18,337			(368	)			17,969
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $32,534 and restricted cash of $13,465 end of period	$	48,347		$	(2,349	)		$	45,998


	September 30, 2020
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,347,431		$	(69,825	)	(a)	$	3,277,606
Real estate under development		268,298			(55	)	(a)		268,243
Net investments in real estate		3,615,729			(69,880	)			3,545,849
Notes receivable, net		134,798			—				134,798
Investments in and advances to unconsolidated affiliates		240,414			15,248		(a)		255,662
Other assets, net		183,170			(3,466	)	(a)		179,704
Right-of-use assets - operating leases, net		—			—				—
Cash and cash equivalents		16,108			(763	)	(a)		15,345
Restricted cash		13,673			(389	)	(a)		13,284
Rents receivable, net		47,516			(322	)	(a)		47,194
Total assets	$	4,251,408		$	(59,572	)		$	4,191,836

LIABILITIES
Mortgage and other notes payable, net	$	1,159,688		$	(59,560	)	(a,b)	$	1,100,128
Unsecured notes payable, net		502,500			—				502,500
Unsecured line of credit		127,400			—				127,400
Accounts payable and other liabilities		394,111			(2,519	)	(a)		391,592
Lease liability - operating leases, net		—			—				—
Dividends and distributions payable		147			—				147
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,462			—				15,462
Total liabilities		2,199,308			(62,079	)			2,137,229
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,266,122 shares		86			—				86
Additional paid-in capital		1,695,338			—				1,695,338
Accumulated other comprehensive loss		(85,873	)		—				(85,873	)
Distributions in excess of accumulated earnings		(156,321	)		(138	)			(156,459	)
Total Acadia shareholders’ equity		1,453,230			(138	)			1,453,092
Noncontrolling interests		598,870			2,645		(a)		601,515
Total equity		2,052,100			2,507				2,054,607
Total liabilities and equity	$	4,251,408		$	(59,572	)		$	4,191,836


	Three Months Ended September 30, 2020										Nine Months Ended September 30, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	50,300		$	(890	)	(a)	$	49,410		$	183,396		$	(3,432	)	(a,b)	$	179,964
Other		981			—				981			3,078			(12	)	(a)		3,066
Total revenues		51,281			(890	)			50,391			186,474			(3,444	)			183,030
Operating expenses
Depreciation and amortization		34,457			(697	)	(a)		33,760			101,627			(1,842	)	(a,b)		99,785
General and administrative		8,625			(210	)	(a)		8,415			26,415			(257	)	(a)		26,158
Real estate taxes		10,689			(261	)	(a)		10,428			31,833			(765	)	(a)		31,068
Property operating		11,559			(210	)	(a)		11,349			41,685			(738	)	(a)		40,947
Impairment charges		—			—				—			51,549			—				51,549
Total operating expenses		65,330			(1,378	)			63,952			253,109			(3,602	)			249,507

Gain on disposition of properties		24			—				24			509			—				509
Operating loss		(14,025	)		488				(13,537	)		(66,126	)		158				(65,968	)
Equity in losses of unconsolidated affiliates		(624	)		(612	)	(a)		(1,236	)		(155	)		(1,374	)	(a)		(1,529	)
Interest and other income		2,132			—				2,132			7,156			—				7,156
Realized and unrealized holding gains on investments and other		(7,946	)		—				(7,946	)		79,335			—				79,335
Interest expense		(17,752	)		570		(a,b)		(17,182	)		(54,373	)		1,843		(a,b)		(52,530	)
Loss from continuing operations before income taxes		(38,215	)		446				(37,769	)		(34,163	)		627				(33,536	)
Income tax (provision) benefit		(74	)		—		(a)		(74	)		741			2		(a)		743
Net loss		(38,289	)		446				(37,843	)		(33,422	)		629				(32,793	)
Net loss attributable to noncontrolling interests		29,259			(451	)	(a)		28,808			35,388			(709	)	(a,b)		34,679
Net (loss) income attributable to Acadia	$	(9,030	)	$	(5	)		$	(9,035	)	$	1,966		$	(80	)		$	1,886
Net income attributable to participating securities	$	—		$	—			$	—		$	233		$	—			$	233
Shares for basic (loss) and diluted income per share		86,309			—				86,309			86,486			—				86,486

Basic (loss) diluted income per share	$	(0.10	)	$	—			$	(0.10	)	$	0.02		$	—			$	0.02


	Three Months September 30, 2020										Nine Months Ended September 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net loss	$	(38,289	)	$	446			$	(37,843	)	$	(33,422	)	$	629			$	(32,793	)
Other comprehensive income (loss)
Unrealized gain (loss) on valuation of swap agreements		952			(3	)	(a)		949			(82,444	)		548		(a,b)		(81,896	)
Reclassification of realized interest on swap agreements		5,506			(50	)	(a)		5,456			9,598			(95	)	(a)		9,503
Other comprehensive income (loss)		6,458			(53	)			6,405			(72,846	)		453				(72,393	)
Comprehensive loss		(31,831	)		393				(31,438	)		(106,268	)		1,082				(105,186	)
Comprehensive loss attributable to noncontrolling interests		27,137			(398	)			26,739			53,536			(863	)			52,673
Comprehensive loss attributable to Acadia	$	(4,694	)	$	(5	)		$	(4,699	)	$	(52,732	)	$	219			$	(52,513	)


Statement of Changes in Shareholders' Equity - Three Months Ended September 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at July 1, 2020		86,265	$	86	$	1,693,006	$	(90,209	)	$	(147,291	)	$	1,455,592		$	637,739			$	2,093,331
Dividends/distributions declared ($0.00 per Common Share/OP Unit)		—		—		—		—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		1		—		232		—			—			232			2,181				2,413
Noncontrolling interest distributions		—		—		—		—			—			—			(20,117	)			(20,117	)
Noncontrolling interest contributions		—		—		—		—			—			—			8,427				8,427
Comprehensive income (loss)		—		—		—		4,336			(9,030	)		(4,694	)		(27,137	)			(31,831	)
Reallocation of noncontrolling interests		—		—		2,100		—			—			2,100			(2,100	)			—
Balance at September 30, 2020		86,266	$	86	$	1,695,338	$	(85,873	)	$	(156,321	)	$	1,453,230		$	598,870			$	2,052,100
Adjustments
Balance at July 1, 2020		—	$	—	$	—	$	—		$	(133	)	$	(133	)	$	2,247			$	2,114
Comprehensive income (loss)		—		—		—		—			(5	)		(5	)		398		(a,b)		393
Total Adjustments		—	$	—	$	—	$	—		$	(138	)	$	(138	)	$	2,645			$	2,507
As Restated
Balance at July 1, 2020 - As Restated		86,265	$	86	$	1,693,006	$	(90,209	)	$	(147,424	)	$	1,455,459		$	639,986			$	2,095,445
Dividends/distributions declared ($0.00 per Common Share/OP Unit)		—		—		—		—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		1		—		232		—			—			232			2,181				2,413
Noncontrolling interest distributions		—		—		—		—			—			—			(20,117	)			(20,117	)
Noncontrolling interest contributions		—		—		—		—			—			—			8,427				8,427
Comprehensive income (loss)		—		—		—		4,336			(9,035	)		(4,699	)		(26,739	)			(31,438	)
Reallocation of noncontrolling interests		—		—		2,100		—			—			2,100			(2,100	)			—
Balance at September 30, 2020		86,266	$	86	$	1,695,338	$	(85,873	)	$	(156,459	)	$	1,453,092		$	601,515			$	2,054,607


Statement of Changes in Shareholders' Equity - Nine Months Ended September 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts)	Common Shares			Share Amount			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2020		87,050		$	87		$	1,706,357		$	(31,175	)	$	(132,961	)	$	1,542,308		$	644,657			$	2,186,965
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Issuance of Common Shares		—			—			—			—			—			—			—				—
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(2,095	)			(27,032	)
Employee and trustee stock compensation, net		27			—			578			—			—			578			7,973				8,551
Noncontrolling interest distributions		—			—			—			—			—			—			(24,654	)			(24,654	)
Noncontrolling interest contributions		—			—			—			—			—			—			36,736				36,736
Comprehensive income (loss)		—			—			—			(54,698	)		1,966			(52,732	)		(53,536	)			(106,268	)
Reallocation of noncontrolling interests		—			—			4,244			—			—			4,244			(4,244	)			-
Balance at September 30, 2020		86,266		$	86		$	1,695,338		$	(85,873	)	$	(156,321	)	$	1,453,230		$	598,870			$	2,052,100
Adjustments
Balance at January 1, 2020		—		$	—		$	—		$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
Comprehensive income (loss)		—			—			—			299			(80	)		219			863		(a,b)		1,082
Total Adjustments		—		$	—		$	—		$	—		$	(138	)	$	(138	)	$	2,645			$	2,507
As Restated
Balance at January 1, 2020 - As Restated		87,050		$	87		$	1,706,357		$	(31,474	)	$	(133,019	)	$	1,541,951		$	646,439			$	2,188,390
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(2,095	)			(27,032	)
Employee and trustee stock compensation, net		27			—			578			—			—			578			7,973				8,551
Noncontrolling interest distributions		—			—			—			—			—			—			(24,654	)			(24,654	)
Noncontrolling interest contributions		—			—			—			—			—			—			36,736				36,736
Comprehensive income (loss)		—			—			—			(54,399	)		1,886			(52,513	)		(52,673	)			(105,186	)
Reallocation of noncontrolling interests		—			—			4,244			—			—			4,244			(4,244	)			—
Balance at September 30, 2020 - As Restated		86,266		$	86		$	1,695,338		$	(85,873	)	$	(156,459	)	$	1,453,092		$	601,515			$	2,054,607


	Nine Months Ended September 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(33,422	)		629			$	(32,793	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		101,627			(1,842	)	(a,b)		99,785
Straight-line rents		—			(3,861	)	(a,c)		(3,861	)
Non-cash lease expense		—			2,382		(c)		2,382
Net unrealized holding gains on investments		(57,031	)		—				(57,031	)
Distributions of operating income from unconsolidated affiliates		2,829			—				2,829
Equity in (earnings) losses of unconsolidated affiliates		155			1,374		(a)		1,529
Stock compensation expense		8,551			—				8,551
Amortization of financing costs		4,040			(99	)	(a,b)		3,941
Impairment charges		51,549			—				51,549
Gain on disposition of properties		(509	)		—				(509	)
Credit loss and straight-line rent reserves		39,882			(39,882	)	(c)		—
Allowance for credit loss		—			20,381		(a,c)		20,381
Adjustments to straight-line rent reserves		—			19,483		(a,c)		19,483
Other, net		(2,923	)		(306	)	(a,c)		(3,229	)
Changes in assets and liabilities:
Other liabilities		(7,736	)		153		(a)		(7,583	)
Lease liability - operating leases		—			(957	)	(c)		(957	)
Prepaid expenses and other assets		(1,435	)		(164	)	(a)		(1,599	)
Rents receivable		(31,511	)		4,735		(a,c)		(26,776	)
Accounts payable and accrued expenses		7,015			53		(a)		7,068
Net cash provided by operating activities		81,081			2,079				83,160
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(21,208	)		—				(21,208	)
Development, construction and property improvement costs		(27,949	)		1,064		(a,c)		(26,885	)
Proceeds from the disposition of properties, net		14,182			—				14,182
Investments in and advances to unconsolidated affiliates and other		(3,662	)		(2,023	)	(a)		(5,685	)
Return of capital from unconsolidated affiliates and other		9,054			—				9,054
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		187			—				187
Payment of deferred leasing costs		(5,422	)		1,620		(a)		(3,802	)
Change in control of previously unconsolidated affiliate		950			—				950
Net cash used in investing activities		(92,868	)		661				(92,207	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(18,981	)		—				(18,981	)
Principal payments on unsecured debt		(123,750	)		—				(123,750	)
Proceeds received on mortgage and other notes		5,523			(1,910	)	(a)		3,613
Proceeds from unsecured debt		215,554			—				215,554
Payments of finance lease obligations		(903	)		—				(903	)
Proceeds from the sale (repurchase) of Common Shares		(22,386	)		—				(22,386	)
Capital contributions from noncontrolling interests		36,736			—				36,736
Distributions to noncontrolling interests		(28,418	)		—				(28,418	)
Dividends paid to Common Shareholders		(50,182	)		—				(50,182	)
Deferred financing and other costs		(1,635	)		—				(1,635	)
Net cash provided by financing activities		11,558			(1,910	)			9,648
(Decrease) increase in cash and restricted cash		(229	)		830				601
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $15,345 and restricted cash of $13,284 end of period	$	29,781		$	(1,151	)		$	28,630


	Three Months Ended December 31, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	67,606		$	(1,138	)	(a)	$	66,468
Other		1,404			6		(a)		1,410
Total revenues		69,010			(1,132	)			67,878
Operating expenses
Depreciation and amortization		48,166			(722	)	(a)		47,444
General and administrative		9,640			—				9,640
Real estate taxes		11,672			(263	)	(a)		11,409
Property operating		14,910			(306	)	(a)		14,604
Impairment charges		34,049			—				34,049
Total operating expenses		118,437			(1,291	)			117,146

Gain on disposition of properties		174			—				174
Operating loss		(49,253	)		159				(49,094	)
Equity in losses of unconsolidated affiliates		(1,082	)		(446	)	(a)		(1,528	)
Interest and other income		1,823			—				1,823
Realized and unrealized holding gains on investments and other		34,595			(568	)	(b)		34,027
Interest expense		(17,687	)		546		(a,b)		(17,141	)
Loss from continuing operations before income taxes		(31,604	)		(309	)			(31,913	)
Income tax provision		(1,012	)		—				(1,012	)
Net (loss) income		(32,616	)		(309	)			(32,925	)
Net loss attributable to noncontrolling interests		21,891			172		(a,b)		22,063
Net loss attributable to Acadia	$	(10,725	)	$	(137	)		$	(10,862	)
Net income attributable to participating securities	$	—		$	—			$	—
Shares for basic loss per share		86,311			—				86,311

Basic loss per share	$	(0.12	)	$	(0.01	)		$	(0.13	)


	March 31, 2021
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,238,031		$	(70,111	)	(a)	$	3,167,920
Real estate under development		234,338			—		(a)		234,338
Net investments in real estate		3,472,369			(70,111	)			3,402,258
Notes receivable, net		101,410			(1,950	)	(b)		99,460
Investments in and advances to unconsolidated affiliates		256,332			22,028		(a)		278,360
Other assets, net		162,596			(3,774	)	(a)		158,822
Right-of-use assets - operating leases, net		74,803			—				74,803
Cash and cash equivalents		15,424			(1,339	)	(a)		14,085
Restricted cash		15,723			(3,620	)	(a)		12,103
Rents receivable, net		46,356			(1,159	)	(a)		45,197
Assets of properties held for sale		8,669			—				8,669
Total assets	$	4,153,682		$	(59,925	)		$	4,093,757

LIABILITIES
Mortgage and other notes payable, net	$	1,188,695		$	(59,003	)	(a,b)	$	1,129,692
Unsecured notes payable, net		420,960			—				420,960
Unsecured line of credit		105,400			—				105,400
Accounts payable and other liabilities		237,058			(2,361	)	(a)		234,697
Lease liability - operating leases, net		87,910			—				87,910
Dividends and distributions payable		14,018			—				14,018
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,272			—				15,272
Total liabilities		2,069,313			(61,364	)			2,007,949
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,302,352 shares		86			—				86
Additional paid-in capital		1,683,552			—				1,683,552
Accumulated other comprehensive loss		(41,962	)		—				(41,962	)
Distributions in excess of accumulated earnings		(174,829	)		(620	)	(b)		(175,449	)
Total Acadia shareholders’ equity		1,466,847			(620	)			1,466,227
Noncontrolling interests		617,522			2,059		(a,b)		619,581
Total equity		2,084,369			1,439				2,085,808
Total liabilities and equity	$	4,153,682		$	(59,925	)		$	4,093,757


	Three Months Ended March 31, 2021
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	67,205		$	(1,207	)	(a)	$	65,998
Other		2,189			—				2,189
Total revenues		69,394			(1,207	)			68,187
Operating expenses
Depreciation and amortization		31,390			(750	)	(a)		30,640
General and administrative		8,996			(4	)	(a)		8,992
Real estate taxes		11,462			(256	)	(a)		11,206
Property operating		13,477			(268	)	(a)		13,209
Impairment charges		—			—				—
Total operating expenses		65,325			(1,278	)			64,047

Gain on disposition of properties		4,612			—				4,612
Operating income		8,681			71				8,752
Equity in earnings of unconsolidated affiliates		2,263			(381	)	(a)		1,882
Interest and other income		1,700			—				1,700
Realized and unrealized holding gains on investments and other		6,507			(1,382	)	(b)		5,125
Interest expense		(17,141	)		527		(a,b)		(16,614	)
Income from continuing operations before income taxes		2,010			(1,165	)			845
Income tax provision		(150	)		2		(a)		(148	)
Net income		1,860			(1,163	)			697
Net loss attributable to noncontrolling interests		3,302			818		(a,b)		4,120
Net income attributable to Acadia	$	5,162		$	(345	)		$	4,817
Net income attributable to participating securities	$	156		$	—			$	156
Shares for basic and diluted income per share		86,346			—				86,346

Basic and diluted income per share	$	0.06		$	(0.01	)		$	0.05


	Three Months Ended March 31, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated

Net income	$	1,860		$	(1,163	)		$	697
Other comprehensive income
Unrealized gain on valuation of swap agreements		33,556			—		(a)		33,556
Reclassification of realized interest on swap agreements		5,317			(49	)	(a)		5,268
Other comprehensive income		38,873			(49	)			38,824
Comprehensive income		40,733			(1,212	)			39,521
Comprehensive income attributable to noncontrolling interests		(2,642	)		867				(1,775	)
Comprehensive Income attributable to Acadia	$	38,091		$	(345	)		$	37,746


Statement of Changes in Shareholders' Equity - Three Months Ended March 31, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2021		86,269	$	86	$	1,683,165		$	(74,891	)	$	(167,046	)	$	1,441,314		$	607,239			$	2,048,553
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		19		—		294			—			—			294			(294	)			—
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—			—			(12,945	)		(12,945	)		(1,048	)			(13,993	)
Employee and trustee stock compensation, net		14		—		462			—			—			462			4,049				4,511
Noncontrolling interest distributions		—		—		—			—			—			—			(6,676	)			(6,676	)
Noncontrolling interest contributions		—		—		—			—			—			—			11,241				11,241
Comprehensive income		—		—		—			32,929			5,162			38,091			2,642				40,733
Reallocation of noncontrolling interests		—		—		(369	)		—			—			(369	)		369				—
Balance at March 31, 2021		86,302	$	86	$	1,683,552		$	(41,962	)	$	(174,829	)	$	1,466,847		$	617,522			$	2,084,369
Adjustments
Balance at January 1, 2021		—	$	—	$	—		$	—		$	(275	)	$	(275	)	$	1,926			$	1,651
Noncontrolling interest distributions		—		—		—			—			—			—			1,000		(a)		1,000
Comprehensive income		—		—		—			—			(345	)		(345	)		(867	)	(a,b)		(1,212	)
Total Adjustments		—	$	—	$	—		$	—		$	(620	)	$	(620	)	$	2,059			$	1,439
As Restated
Balance at January 1, 2021 - As Restated		86,269	$	86	$	1,683,165		$	(74,891	)	$	(167,321	)	$	1,441,039		$	609,165			$	2,050,204
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		19		—		294			—			—			294			(294	)			—
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—			—			(12,945	)		(12,945	)		(1,048	)			(13,993	)
Employee and trustee stock compensation, net		14		—		462			—			—			462			4,049				4,511
Noncontrolling interest distributions		—		—		—			—			—			—			(5,676	)			(5,676	)
Noncontrolling interest contributions		—		—		—			—			—			—			11,241				11,241
Comprehensive income		—		—		—			32,929			4,817			37,746			1,775				39,521
Reallocation of noncontrolling interests		—		—		(369	)		—			—			(369	)		369				—
Balance at March 31, 2021 - As Restated		86,302	$	86	$	1,683,552		$	(41,962	)	$	(175,449	)	$	1,466,227		$	619,581			$	2,085,808


	Three Months Ended March 31, 2021
(in thousands)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	1,860			(1,163	)		$	697
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		31,390			(750	)	(a)		30,640
Straight-line rents		(1,128	)		36		(a)		(1,092	)
Non-cash lease expense		1,041			—				1,041
Net unrealized holding gains on investments		(6,135	)		—				(6,135	)
Distributions of operating income from unconsolidated affiliates		390			—				390
Equity in (earnings) losses of unconsolidated affiliates		(2,263	)		381		(a)		(1,882	)
Stock compensation expense		4,511			—				4,511
Amortization of financing costs		1,269			(18	)	(a,b)		1,251
Gain on disposition of properties		(4,612	)		—				(4,612	)
Allowance for credit loss		3,065			(123	)	(a)		2,942
Adjustments to straight-line rent reserves		817			79		(a)		896
Other, net		(2,312	)		1,386		(a,b)		(926	)
Changes in assets and liabilities:
Other liabilities		3,847			(48	)	(a)		3,799
Lease liability - operating leases		(494	)		—				(494	)
Prepaid expenses and other assets		1,859			(105	)	(a)		1,754
Rents receivable		(2,408	)		90		(a)		(2,318	)
Accounts payable and accrued expenses		237			275		(a)		512
Net cash provided by operating activities		30,934			40				30,974
CASH FLOWS FROM INVESTING ACTIVITIES
Development, construction and property improvement costs		(5,425	)		46		(a)		(5,379	)
Proceeds from the disposition of properties, net		15,703			—				15,703
Investments in and advances to unconsolidated affiliates and other		(1,725	)		(336	)	(a)		(2,061	)
Return of capital from unconsolidated affiliates and other		4,377			1,000		(a)		5,377
Payment of deferred leasing costs		(1,438	)		410		(a)		(1,028	)
Net cash provided by investing activities		11,492			1,120				12,612
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(20,406	)		—				(20,406	)
Principal payments on unsecured debt		(33,250	)		—				(33,250	)
Proceeds received on mortgage and other notes		3,809			(2,990	)	(a)		819
Proceeds from unsecured debt		536			—				536
Capital contributions from noncontrolling interests		11,241			—				11,241
Distributions to noncontrolling interests		(6,800	)		1,000		(a)		(5,800	)
Deferred financing and other costs		(333	)		—				(333	)
Net cash used in financing activities		(45,203	)		(1,990	)			(47,193	)
Decrease in cash and restricted cash		(2,777	)		(830	)			(3,607	)
Cash of $18,699 and restricted cash of $11,096 beginning of period		33,924			(4,129	)			29,795
Cash of $14,085 and restricted cash of $12,103 end of period	$	31,147		$	(4,959	)		$	26,188


	June 30, 2021
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,201,172		$	(69,819	)	(a)	$	3,131,353
Real estate under development		217,620			—		(a)		217,620
Net investments in real estate		3,418,792			(69,819	)			3,348,973
Notes receivable, net		117,280			(2,819	)	(b)		114,461
Investments in and advances to unconsolidated affiliates		258,063			22,177		(a)		280,240
Other assets, net		159,592			(3,798	)	(a)		155,794
Right-of-use assets - operating leases, net		42,398			—				42,398
Cash and cash equivalents		34,645			(1,566	)	(a)		33,079
Restricted cash		15,094			(3,432	)	(a)		11,662
Rents receivable, net		43,748			(1,062	)	(a)		42,686
Total assets	$	4,089,612		$	(60,319	)		$	4,029,293

LIABILITIES
Mortgage and other notes payable, net	$	1,162,617		$	(59,021	)	(a,b)	$	1,103,596
Unsecured notes payable, net		440,088			—				440,088
Unsecured line of credit		61,405			—				61,405
Accounts payable and other liabilities		239,056			(1,910	)	(a)		237,146
Lease liability - operating leases, net		40,861			—				40,861
Dividends and distributions payable		14,339			—				14,339
Distributions in excess of income from, and investments in, unconsolidated affiliates		14,896			—				14,896
Total liabilities		1,973,262			(60,931	)			1,912,331
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 88,419,303 shares		88			—				88
Additional paid-in capital		1,730,686			—				1,730,686
Accumulated other comprehensive loss		(47,909	)		—				(47,909	)
Distributions in excess of accumulated earnings		(184,174	)		(827	)	(b)		(185,001	)
Total Acadia shareholders’ equity		1,498,691			(827	)			1,497,864
Noncontrolling interests		617,659			1,439		(a,b)		619,098
Total equity		2,116,350			612				2,116,962
Total liabilities and equity	$	4,089,612		$	(60,319	)		$	4,029,293


	Three Months Ended June 30, 2021										Six Months Ended June 30, 2021
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	73,666		$	(1,597	)	(a)	$	72,069		$	140,871		$	(2,804	)	(a)	$	138,067
Other		994			(6	)	(a)		988			3,183			(6	)	(a)		3,177
Total revenues		74,660			(1,603	)			73,057			144,054			(2,810	)			141,244
Operating expenses
Depreciation and amortization		31,345			(805	)	(a)		30,540			62,735			(1,555	)	(a)		61,180
General and administrative		10,671			(18	)	(a)		10,653			19,667			(22	)	(a)		19,645
Real estate taxes		12,504			(290	)	(a)		12,214			23,966			(546	)	(a)		23,420
Property operating		12,890			(254	)	(a)		12,636			26,367			(522	)	(a)		25,845
Impairment charges		—			—				—			—			—				—
Total operating expenses		67,410			(1,367	)			66,043			132,735			(2,645	)			130,090

Gain on disposition of properties		5,909			—				5,909			10,521			—				10,521
Operating income		13,159			(236	)			12,923			21,840			(165	)			21,675
Equity in earnings of unconsolidated affiliates		1,106			(207	)	(a)		899			3,369			(588	)	(a)		2,781
Interest and other income		2,054			—				2,054			3,754			—				3,754
Realized and unrealized holding gains on investments and other		2,711			(869	)	(b)		1,842			9,218			(2,251	)	(b)		6,967
Interest expense		(17,605	)		531		(a,b)		(17,074	)		(34,746	)		1,058		(a,b)		(33,688	)
Income from continuing operations before income taxes		1,425			(781	)			644			3,435			(1,946	)			1,489
Income tax provision		(194	)		2		(a)		(192	)		(344	)		4		(a)		(340	)
Net income		1,231			(779	)			452			3,091			(1,942	)			1,149
Net loss attributable to noncontrolling interests		2,687			572		(a,b)		3,259			5,989			1,390		(a,b)		7,379
Net income attributable to Acadia	$	3,918		$	(207	)		$	3,711		$	9,080		$	(552	)		$	8,528
Net income attributable to participating securities	$	156		$	—			$	156		$	312		$	—			$	312
Shares for basic and diluted income per share		86,824			—				86,824			86,575			—				86,575

Basic and diluted income per share	$	0.04		$	—			$	0.04		$	0.10		$	(0.01	)		$	0.09


	Three Months Ended June 30, 2021										Six Months Ended June 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net income	$	1,231		$	(779	)		$	452		$	3,091		$	(1,942	)		$	1,149
Other comprehensive (loss) income
Unrealized (loss) gain on valuation of swap agreements		(10,073	)		4		(a)		(10,069	)		23,483			4		(a)		23,487
Reclassification of realized interest on swap agreements		5,324			(52	)	(a)		5,272			10,641			(101	)	(a)		10,540
Other comprehensive (loss) income		(4,749	)		(48	)			(4,797	)		34,124			(97	)			34,027
Comprehensive (loss) income		(3,518	)		(827	)			(4,345	)		37,215			(2,039	)			35,176
Comprehensive loss attributable to noncontrolling interests		1,489			620				2,109			(1,153	)		1,487				334
Comprehensive (loss) income attributable to Acadia	$	(2,029	)	$	(207	)		$	(2,236	)	$	36,062		$	(552	)		$	35,510


Statement of Changes in Shareholders' Equity - Three Months Ended June 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at April 1, 2021		86,302		86		1,683,552		(41,962	)		(174,829	)		1,466,847			617,522				2,084,369
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		7		—		115		—			—			115			(115	)			—
Repurchase of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,263	)		(13,263	)		(1,052	)			(14,315	)
Employee and trustee stock compensation, net		38		—		225		—			—			225			2,399				2,624
Noncontrolling interest distributions		—		—		—		—			—			—			(4,355	)			(4,355	)
Noncontrolling interest contributions		—		—		—		—			—			—			5,868				5,868
Comprehensive loss		—		—		—		(5,947	)		3,918			(2,029	)		(1,489	)			(3,518	)
Reallocation of noncontrolling interests		—		—		1,119		—			—			1,119			(1,119	)			—
Balance at June 30, 2021		88,419	$	88	$	1,730,686	$	(47,909	)	$	(184,174	)	$	1,498,691		$	617,659			$	2,116,350
Adjustments
Balance at April 1, 2021		—	$	—	$	—	$	—		$	(620	)	$	(620	)	$	2,059			$	1,439
Comprehensive loss		—		—		—		—			(207	)		(207	)		(620	)	(a,b)		(827	)
Total Adjustments		—	$	—	$	—	$	—		$	(827	)	$	(827	)	$	1,439			$	612
As Restated
Balance at April 1, 2021 - As Restated		86,302	$	86	$	1,683,552	$	(41,962	)	$	(175,449	)	$	1,466,227		$	619,581			$	2,085,808
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		7		—		115		—			—			115			(115	)			—
Issuance of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,263	)		(13,263	)		(1,052	)			(14,315	)
Employee and trustee stock compensation, net		38		—		225		—			—			225			2,399				2,624
Noncontrolling interest distributions		—		—		—		—			—			—			(4,355	)			(4,355	)
Noncontrolling interest contributions		—		—		—		—			—			—			5,868				5,868
Comprehensive loss		—		—		—		(5,947	)		3,711			(2,236	)		(2,109	)			(4,345	)
Reallocation of noncontrolling interests		—		—		1,119		—			—			1,119			(1,119	)			—
Balance at June 30, 2021 -As Restated		88,419	$	88	$	1,730,686	$	(47,909	)	$	(185,001	)	$	1,497,864		$	619,098			$	2,116,962


Statement of Changes in Shareholders' Equity - Six Months Ended June 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2021		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,046	)	$	1,441,314		$	607,239			$	2,048,553
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		26		—		409		—			—			409			(409	)			—
Issuance of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.30 per Common Share/OP Unit)		—		—		—		—			(26,208	)		(26,208	)		(2,100	)			(28,308	)
Employee and trustee stock compensation, net		52		—		687		—			—			687			6,448				7,135
Noncontrolling interest distributions		—		—		—		—			—			—			(11,031	)			(11,031	)
Noncontrolling interest contributions		—		—		—		—			—			—			17,109				17,109
Comprehensive (loss) income		—		—		—		26,982			9,080			36,062			1,153				37,215
Reallocation of noncontrolling interests		—		—		750		—			—			750			(750	)			—
Balance at June 30, 2021		88,419	$	88	$	1,730,686	$	(47,909	)	$	(184,174	)	$	1,498,691		$	617,659			$	2,116,350
Adjustments
Balance at January 1, 2021		—	$	—	$	—	$	—		$	(275	)	$	(275	)	$	1,926			$	1,651
Noncontrolling interest distributions		—		—		—		—			—			—			1,000		(a)		1,000
Comprehensive (loss) income		—		—		—		—			(552	)		(552	)		(1,487	)	(a,b)		(2,039	)
Total Adjustments		—	$	—	$	—	$	—		$	(827	)	$	(827	)	$	1,439			$	612
Balance at January 1, 2021 - Restated		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,321	)	$	1,441,039		$	609,165			$	2,050,204
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		26		—		409		—			—			409			(409	)			—
Issuance of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.30 per Common Share/OP Unit)		—		—		—		—			(26,208	)		(26,208	)		(2,100	)			(28,308	)
Employee and trustee stock compensation, net		52		—		687		—			—			687			6,448				7,135
Noncontrolling interest distributions		—		—		—		—			—			—			(10,031	)			(10,031	)
Noncontrolling interest contributions		—		—		—		—			—			—			17,109				17,109
Comprehensive (loss) income		—		—		—		26,982			8,528			35,510			(334	)			35,176
Reallocation of noncontrolling interests		—		—		750		—			—			750			(750	)			—
Balance at June 31, 2021 - Restated		88,419	$	88	$	1,730,686	$	(47,909	)	$	(185,001	)	$	1,497,864		$	619,098			$	2,116,962


	Six Months Ended June 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	3,091			(1,942	)		$	1,149
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		62,735			(1,555	)	(a)		61,180
Straight-line rents		(2,765	)		80		(a)		(2,685	)
Non-cash lease expense		2,066			—				2,066
Net unrealized holding gains on investments		(8,565	)		—				(8,565	)
Distributions of operating income from unconsolidated affiliates		1,387			—				1,387
Equity in (earnings) losses of unconsolidated affiliates		(3,369	)		588		(a)		(2,781	)
Stock compensation expense		7,135			—				7,135
Amortization of financing costs		2,546			(36	)	(a,b)		2,510
Gain on disposition of properties		(10,521	)		—				(10,521	)
Allowance for credit loss		1,238			(144	)	(a)		1,094
Termination of ground lease		(3,615	)		—				(3,615	)
Adjustments to straight-line rent reserves		511			73		(a)		584
Other, net		(4,127	)		2,258		(a,b)		(1,869	)
Changes in assets and liabilities:
Other liabilities		3,114			(74	)	(a)		3,040
Lease liability - operating leases		(1,533	)		—				(1,533	)
Prepaid expenses and other assets		(487	)		37		(a)		(450	)
Rents receivable		2,801			(24	)	(a)		2,777
Accounts payable and accrued expenses		(609	)		267		(a)		(342	)
Net cash provided by operating activities		51,033			(472	)			50,561
CASH FLOWS FROM INVESTING ACTIVITIES
Development, construction and property improvement costs		(16,620	)		880		(a)		(15,740	)
Proceeds from the disposition of properties, net		63,901			—				63,901
Investments in and advances to unconsolidated affiliates and other		(3,976	)		(647	)	(a)		(4,623	)
Return of capital from unconsolidated affiliates and other		7,717			1,000		(a)		8,717
Issuance of notes receivable		(15,995	)		—				(15,995	)
Return of deposits for properties under contract		(1,000	)		—				(1,000	)
Payment of deferred leasing costs		(3,080	)		360		(a)		(2,720	)
Net cash provided by investing activities		30,947			1,593				32,540
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(52,408	)		—				(52,408	)
Principal payments on unsecured debt		(102,800	)		—				(102,800	)
Proceeds received on mortgage and other notes		8,818			(2,990	)	(a)		5,828
Proceeds from unsecured debt		49,295			—				49,295
Proceeds from the sale (repurchase) of Common Shares		45,675			—				45,675
Capital contributions from noncontrolling interests		17,109			—				17,109
Distributions to noncontrolling interests		(12,202	)		1,000		(a)		(11,202	)
Dividends paid to Common Shareholders		(12,945	)		—				(12,945	)
Deferred financing and other costs		(6,707	)		—				(6,707	)
Net cash used in financing activities		(66,165	)		(1,990	)			(68,155	)
Increase in cash and restricted cash		15,815			(869	)			14,946
Cash of $18,699 and restricted cash of $11,096 beginning of period		33,924			(4,129	)			29,795
Cash of $33,079 and restricted cash of $11,662 end of period	$	49,739		$	(4,998	)		$	44,741


	September 30, 2021
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,268,573		$	(69,334	)	(a)	$	3,199,239
Real estate under development		219,037			—		(a)		219,037
Net investments in real estate		3,487,610			(69,334	)			3,418,276
Notes receivable, net		158,468			(3,619	)	(b)		154,849
Investments in and advances to unconsolidated affiliates		305,668			21,828		(a)		327,496
Other assets, net		174,750			(3,477	)	(a)		171,273
Right-of-use assets - operating leases, net		41,577			—				41,577
Cash and cash equivalents		17,359			(1,201	)	(a)		16,158
Restricted cash		14,827			(3,463	)	(a)		11,364
Rents receivable, net		44,386			(1,094	)	(a)		43,292
Total assets	$	4,244,645		$	(60,360	)		$	4,184,285

LIABILITIES
Mortgage and other notes payable, net	$	1,181,028		$	(59,205	)	(a,b)	$	1,121,823
Unsecured notes payable, net		503,966			53		(b)		504,019
Unsecured line of credit		102,905			—				102,905
Accounts payable and other liabilities		245,697			(1,686	)	(a)		244,011
Lease liability - operating leases, net		39,743			—				39,743
Dividends and distributions payable		14,339			—				14,339
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,456			—				15,456
Total liabilities		2,103,134			(60,838	)			2,042,296
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 88,451,668 shares		88			—				88
Additional paid-in capital		1,733,448			—				1,733,448
Accumulated other comprehensive loss		(43,169	)		—				(43,169	)
Distributions in excess of accumulated earnings		(185,373	)		(889	)	(b)		(186,262	)
Total Acadia shareholders’ equity		1,504,994			(889	)			1,504,105
Noncontrolling interests		636,517			1,367		(a,b)		637,884
Total equity		2,141,511			478				2,141,989
Total liabilities and equity	$	4,244,645		$	(60,360	)		$	4,184,285


	Three Months Ended September 30, 2021										Nine Months Ended September 30, 2021
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	71,852		$	(1,550	)	(a)	$	70,302		$	212,723		$	(4,354	)	(a)	$	208,369
Other		1,594			—				1,594			4,777			(6	)	(a)		4,771
Total revenues		73,446			(1,550	)			71,896			217,500			(4,360	)			213,140
Operating expenses
Depreciation and amortization		30,866			(802	)	(a)		30,064			93,601			(2,357	)	(a)		91,244
General and administrative		9,978			(68	)	(a)		9,910			29,645			(90	)	(a)		29,555
Real estate taxes		11,320			(292	)	(a)		11,028			35,286			(838	)	(a)		34,448
Property operating		12,698			(255	)	(a)		12,443			39,065			(777	)	(a)		38,288
Impairment charges		9,925			—				9,925			9,925			—				9,925
Total operating expenses		74,787			(1,417	)			73,370			207,522			(4,062	)			203,460

Gain on disposition of properties		—			—				—			10,521			—				10,521
Operating (loss) gain		(1,341	)		(133	)			(1,474	)		20,499			(298	)			20,201
Equity in earnings of unconsolidated affiliates		644			(272	)	(a)		372			4,013			(860	)	(a)		3,153
Interest and other income		2,354			—				2,354			6,108			—				6,108
Realized and unrealized holding gains on investments and other		47,293			(800	)	(b)		46,493			56,511			(3,051	)	(b)		53,460
Interest expense		(17,334	)		720		(a,b)		(16,614	)		(52,080	)		1,778		(a,b)		(50,302	)
Income from continuing operations before income taxes		31,616			(485	)			31,131			35,051			(2,431	)			32,620
Income tax provision		(59	)		—				(59	)		(403	)		4		(a)		(399	)
Net income		31,557			(485	)			31,072			34,648			(2,427	)			32,221
Net income attributable to noncontrolling interests		(19,488	)		423		(a,b)		(19,065	)		(13,499	)		1,813		(a,b)		(11,686	)
Net income attributable to Acadia		12,069		$	(62	)		$	12,007		$	21,149		$	(614	)		$	20,535
Net income attributable to participating securities	$	156		$	—			$	156		$	468		$	—			$	468
Shares for basic and diluted income per share		88,481			—				88,481			87,217			—				87,217

Basic and diluted income per share	$	0.13		$	—			$	0.13		$	0.24		$	(0.01	)		$	0.23


	Three Months September 30, 2021										Nine Months Ended September 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net income	$	31,557		$	(485	)		$	31,072		$	34,648		$	(2,427	)		$	32,221
Other comprehensive income
Unrealized gain on valuation of swap agreements		1,045			3		(a)		1,048			24,528			7		(a)		24,535
Reclassification of realized interest on swap agreements		5,528			(52	)	(a)		5,476			16,169			(153	)	(a)		16,016
Other comprehensive income		6,573			(49	)			6,524			40,697			(146	)			40,551
Comprehensive income		38,130			(534	)			37,596			75,345			(2,573	)			72,772
Comprehensive income attributable to noncontrolling interests		(21,321	)		472				(20,849	)		(22,474	)		1,959				(20,515	)
Comprehensive income attributable to Acadia	$	16,809		$	(62	)		$	16,747		$	52,871		$	(614	)		$	52,257


Statement of Changes in Shareholders' Equity - Three Months Ended September 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at July 1, 2021		88,419	$	88	$	1,730,686	$	(47,909	)	$	(184,174	)	$	1,498,691		$	617,659			$	2,116,350
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		18		—		288		—			—			288			(288	)			—
Cancellation of OP Units		—		—		—		—			—			—			(479	)			(479	)
Issuance of Common Shares		13		—		189		—			—			189			—				189
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,268	)		(13,268	)		(1,046	)			(14,314	)
Employee and trustee stock compensation, net		2		—		225		—			—			225			2,419				2,644
Noncontrolling interest distributions		—		—		—		—			—			—			(10,527	)			(10,527	)
Noncontrolling interest contributions		—		—		—		—			—			—			9,518				9,518
Comprehensive income		—		—		—		4,740			12,069			16,809			21,321				38,130
Reallocation of noncontrolling interests		—		—		2,060		—			—			2,060			(2,060	)			—
Balance at September 30, 2021		88,452	$	88	$	1,733,448	$	(43,169	)	$	(185,373	)	$	1,504,994		$	636,517			$	2,141,511
Adjustments
Balance at July 1, 2021		—	$	—	$	—	$	—		$	(827	)	$	(827	)	$	1,439			$	612
Noncontrolling interest distributions		—		—		—		—			—			—			400		(a)		400
Comprehensive income		—		—		—		—			(62	)		(62	)		(472	)	(a,b)		(534	)
Total Adjustments		—	$	—	$	—	$	—		$	(889	)	$	(889	)	$	1,367			$	478
As Restated
Balance at July 1, 2021 - As Restated		88,419	$	88	$	1,730,686	$	(47,909	)	$	(185,001	)	$	1,497,864		$	619,098			$	2,116,962
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		18		—		288		—			—			288			(288	)			—
Cancellation of OP Units		—		—		-		—			—			—			(479	)			(479	)
Issuance of Common Shares		13		—		189		—			—			189			—				189
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,268	)		(13,268	)		(1,046	)			(14,314	)
Employee and trustee stock compensation, net		2		—		225		—			—			225			2,419				2,644
Noncontrolling interest distributions		—		—		—		—			—			—			(10,127	)			(10,127	)
Noncontrolling interest contributions		—		—		—		—			—			—			9,518				9,518
Comprehensive income		—		—		—		4,740			12,007			16,747			20,849				37,596
Reallocation of noncontrolling interests		—		—		2,060		—			—			2,060			(2,060	)			—
Balance at September 30, 2021 - As Restated		88,452	$	88	$	1,733,448	$	(43,169	)	$	(186,262	)	$	1,504,105		$	637,884			$	2,141,989


Statement of Changes in Shareholders' Equity - Nine Months Ended September 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2021		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,046	)	$	1,441,314		$	607,239			$	2,048,553
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		44		—		697		—			—			697			(697	)			—
Cancellation of OP Units		—		—		—		—			—			—			(479	)			(479	)
Issuance of Common Shares		2,085		2		45,863		—			—			45,865			—				45,865
Dividends/distributions declared ($0.45 per Common Share/OP Unit)		—		—		—		—			(39,476	)		(39,476	)		(3,146	)			(42,622	)
Employee and trustee stock compensation, net		54		—		914		—			—			914			8,866				9,780
Noncontrolling interest distributions		—		—		—		—			—			—			(21,558	)			(21,558	)
Noncontrolling interest contributions		—		—		—		—			—			—			26,627				26,627
Comprehensive income		—		—		—		31,722			21,149			52,871			22,474				75,345
Reallocation of noncontrolling interests		—		—		2,809		—			—			2,809			(2,809	)			—
Balance at September 30, 2021		88,452	$	88	$	1,733,448	$	(43,169	)	$	(185,373	)	$	1,504,994		$	636,517			$	2,141,511
Adjustments
Balance at January 1, 2021		—	$	—	$	—	$	—		$	(275	)	$	(275	)	$	1,926			$	1,651
Noncontrolling interest distributions		—		—		—		—			—			—			1,400		(a)		1,400
Comprehensive loss		—		—		—		—			(614	)		(614	)		(1,959	)	(a,b)		(2,573	)
Total Adjustments		—	$	—	$	—	$	—		$	(889	)	$	(889	)	$	1,367			$	478
As Restated
Balance at January 1, 2021 Restated		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,321	)	$	1,441,039		$	609,165			$	2,050,204
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		44		—		697		—			—			697			(697	)			—
Cancellation of OP Units		—		—		—		—			—			—			(479	)			(479	)
Issuance of Common Shares		2,085		2		45,863		—			—			45,865			—				45,865
Dividends/distributions declared ($0.45 per Common Share/OP Unit)		—		—		—		—			(39,476	)		(39,476	)		(3,146	)			(42,622	)
Employee and trustee stock compensation, net		54		—		914		—			—			914			8,866				9,780
Noncontrolling interest distributions		—		—		—		—			—			—			(20,158	)			(20,158	)
Noncontrolling interest contributions		—		—		—		—			—			—			26,627				26,627
Comprehensive income		—		—		—		31,722			20,535			52,257			20,515				72,772
Reallocation of noncontrolling interests		—		—		2,809		—			—			2,809			(2,809	)			—
Balance at September 30, 2021 - Restated		88,452	$	88	$	1,733,448	$	(43,169	)	$	(186,262	)	$	1,504,105		$	637,884			$	2,141,989


	Nine Months Ended September 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	34,648			(2,427	)		$	32,221
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		93,601			(2,357	)	(a)		91,244
Straight-line rents		(4,244	)		137		(a)		(4,107	)
Non-cash lease expense		2,887			—				2,887
Net unrealized holding gains on investments		(55,796	)		—				(55,796	)
Distributions of operating income from unconsolidated affiliates		2,004			—				2,004
Equity in (earnings) losses of unconsolidated affiliates		(4,013	)		860		(a)		(3,153	)
Stock compensation expense		9,780			—				9,780
Amortization of financing costs		3,901			(239	)	(a,b)		3,662
Impairment charges		9,925			—				9,925
Gain on disposition of properties		(10,521	)		—				(10,521	)
Allowance for credit loss		973			(200	)	(a)		773
Termination of ground lease		(3,615	)		—				(3,615	)
Adjustments to straight-line rent reserves		254			66		(a)		320
Other, net		(5,319	)		3,060		(a,b)		(2,259	)
Changes in assets and liabilities:
Other liabilities		1,833			(85	)	(a)		1,748
Lease liability - operating leases		(2,653	)		—				(2,653	)
Prepaid expenses and other assets		(5,579	)		(102	)	(a)		(5,681	)
Rents receivable		4,104			14		(a)		4,118
Accounts payable and accrued expenses		220			269		(a)		489
Net cash provided by operating activities		72,390			(1,004	)			71,386
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(63,425	)		—				(63,425	)
Development, construction and property improvement costs		(27,197	)		1,262		(a)		(25,935	)
Proceeds from the disposition of properties, net		63,901			—				63,901
Investments in and advances to unconsolidated affiliates and other		(6,111	)		(921	)	(a)		(7,032	)
Return of capital from unconsolidated affiliates and other		10,671			1,400		(a)		12,071
Issuance of notes receivable		(57,957	)		—				(57,957	)
Payment of deferred leasing costs		(3,509	)		318		(a)		(3,191	)
Net cash used in investing activities		(83,627	)		2,059				(81,568	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(69,766	)		—				(69,766	)
Principal payments on unsecured debt		(160,387	)		—				(160,387	)
Proceeds received on mortgage and other notes		12,654			(2,990	)	(a)		9,664
Proceeds from unsecured debt		211,854			—				211,854
Payments of finance lease obligations		(63	)		—				(63	)
Proceeds from the sale (repurchase) of Common Shares		45,865			—				45,865
Capital contributions from noncontrolling interests		26,627			—				26,627
Distributions to noncontrolling interests		(23,781	)		1,400		(a)		(22,381	)
Dividends paid to Common Shareholders		(26,208	)		—				(26,208	)
Deferred financing and other costs		(7,296	)		—				(7,296	)
Net cash provided by financing activities		9,499			(1,590	)			7,909
Decrease in cash and restricted cash		(1,738	)		(535	)			(2,273	)
Cash of $18,699 and restricted cash of $11,096 beginning of period		33,924			(4,129	)			29,795
Cash of $16,158 and restricted cash of $11,364 end of period	$	32,186		$	(4,664	)		$	27,522

Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

18. Subsequent Events

Acquisitions

On January 12, 2022, the Company acquired a retail property on 121 Spring Street in the Soho section of New York City, for $39.0 million.

On January 24, 2022, an affiliate of Fund III acquired the 36.9% non-controlling membership interest an entity that holds a property, which was collateral for a $5.3 million note receivable ($10.0 million including interest) that was in default at December 31, 2021 (Note 4), through a UCC foreclosure auction thereby obtaining 100% of the entity’s equity.

On February 18, 2022, the Company, through an acquisition subsidiary, acquired a 49.99% membership interest in a limited liability company (the "Venture") for $5.0 million. The Venture indirectly owns 11 retail storefronts and 23 residential units located in the Williamsburg section of Brooklyn, New York. The Company also, through a separate lending subsidiary, provided a $64.1 million First Mortgage Loan and a $30.9 million Mezzanine Loan to subsidiaries of the Venture to refinance existing loans related to the properties.

Dispositions

On January 26, 2022, Fund IV disposed of its Mayfair Shopping Center, located in Philadelphia, Pennsylvania, for $23.7 million and repaid the associated debt of $11.1 million. The property was classified as held for sale at December 31, 2021 (Note 3).

On February 1, 2022, Fund V sold a land parcel at its New Towne Center property in Canton, Michigan, for $2.2 million.

On February 9, 2022, Fund III disposed of its shopping center, Cortlandt Crossing, located in Westchester County, New York, for $65.5 million and repaid the associated debt of $34.5 million. The property was classified as held for sale at December 31, 2021 (Note 3).

Other

During 2022 through the date of these financial statements, the Company sold 4,281,576 common shares under its ATM program (Note 11) for gross proceeds of $96.3 million, at an average gross price of $22.48, or $92.5 million net of issuance costs.

On February 9, 2022, the Company repaid the loan in the amount of $12.3 million collateralized by its 28 Jericho property and terminated the associated swap.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2021

Valuation And Qualifying Accounts [Abstract]

SCHEDULE II -VALUATION AND QUALIFYING ACCOUNTS


	Balance at Beginning of Year		Charged to Expenses			Adjustments to Valuation Accounts			Deductions		Balance at End of Year
Year Ended December 31, 2021:
Allowance for deferred tax asset	$	2,599	$	—		$	1,061		$	—	$	3,660
Allowance for uncollectible accounts		45,009		(114	)		(6,424	)		—		38,471
Allowance for notes receivable		1,218		4,534			—			—		5,752
Year Ended December 31, 2020 (As Restated):
Allowance for deferred tax asset	$	1,748	$	—		$	851		$	—	$	2,599
Allowance for uncollectible accounts		11,408		46,440			(12,839	)		—		45,009
Allowance for notes receivable		400		818			—			—		1,218
Year Ended December 31, 2019 (As Restated):
Allowance for deferred tax asset	$	—	$	—		$	1,748			—	$	1,748
Allowance for uncollectible accounts		7,921		4,402			(915	)		—		11,408
Allowance for notes receivable		—		—			—			—		—

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2021

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2021


			Initial Cost to Company						Amount at Which Carried at December 31, 2021
Description and Location	Encumbrances		Land		Buildings & Improvements		Increase (Decrease) in Net Investments		Land		Buildings & Improvements		Total		Accumulated Depreciation		Date of Acquisition (a) Construction (c)		Life on which Depreciation in Latest Statement of Operations is Compared
Core Portfolio:
Crescent Plaza Brockton, MA		—		1,147		7,425		3,441		1,147		10,866		12,013		9,090	1993	(a)	40 years
New Loudon Center Latham, NY		—		505		4,161		16,228		505		20,389		20,894		16,657	1993	(a)	40 years
Mark Plaza Edwardsville, PA		—		—		3,396		—		—		3,396		3,396		3,119	1993	(c)	40 years
Plaza 422 Lebanon, PA		—		190		3,004		2,809		190		5,813		6,003		5,334	1993	(c)	40 years
Route 6 Mall Honesdale, PA		—		1,664		—		12,761		1,664		12,761		14,425		11,096	1994	(c)	40 years
Abington Towne Center Abington, PA		—		799		3,197		3,914		799		7,111		7,910		4,666	1998	(a)	40 years
Bloomfield Town Square Bloomfield Hills, MI		—		3,207		13,774		25,281		3,207		39,055		42,262		26,685	1998	(a)	40 years
Elmwood Park Shopping Center Elmwood Park, NJ		—		3,248		12,992		19,372		3,798		31,814		35,612		21,620	1998	(a)	40 years
Merrillville Plaza Hobart, IN		—		4,288		17,152		7,972		4,288		25,124		29,412		15,525	1998	(a)	40 years
Marketplace of Absecon Absecon, NJ		—		2,573		10,294		5,409		2,577		15,699		18,276		10,011	1998	(a)	40 years
239 Greenwich Avenue Greenwich, CT		25,707		1,817		15,846		1,086		1,817		16,932		18,749		9,639	1998	(a)	40 years
Hobson West Plaza Naperville, IL		—		1,793		7,172		5,512		1,793		12,684		14,477		6,906	1998	(a)	40 years
Village Commons Shopping Center Smithtown, NY		—		3,229		12,917		5,396		3,229		18,313		21,542		11,621	1998	(a)	40 years
Town Line Plaza Rocky Hill, CT		—		878		3,510		8,182		907		11,663		12,570		9,665	1998	(a)	40 years
Branch Shopping Center Smithtown, NY		—		3,156		12,545		17,022		3,401		29,322		32,723		17,493	1998	(a)	40 years
Methuen Shopping Center Methuen, MA		—		956		3,826		1,776		961		5,597		6,558		3,252	1998	(a)	40 years
The Gateway Shopping Center South Burlington, VT		—		1,273		5,091		12,841		1,273		17,932		19,205		11,818	1999	(a)	40 years
Mad River Station Dayton, OH		—		2,350		9,404		2,265		2,350		11,669		14,019		7,134	1999	(a)	40 years
Brandywine Holdings Wilmington, DE		—		5,063		15,252		2,616		5,201		17,730		22,931		8,406	2003	(a)	40 years
Bartow Avenue Bronx, NY		—		1,691		5,803		1,456		1,691		7,259		8,950		3,821	2005	(c)	40 years
Amboy Road Staten Island, NY		—		—		11,909		3,259		—		15,168		15,168		9,735	2005	(a)	40 years
Chestnut Hill Philadelphia, PA		—		8,289		5,691		4,802		8,289		10,493		18,782		5,848	2006	(a)	40 years
2914 Third Avenue Bronx, NY		—		11,108		8,038		5,575		11,855		12,866		24,721		4,151	2006	(a)	40 years
West Shore Expressway Staten Island, NY		—		3,380		13,499		74		3,380		13,573		16,953		5,642	2007	(a)	40 years
West 54th Street Manhattan, NY		—		16,699		18,704		1,385		16,699		20,089		36,788		7,879	2007	(a)	40 years
5-7 East 17th Street Manhattan, NY		—		3,048		7,281		6,159		3,048		13,440		16,488		8,690	2008	(a)	40 years
651-671 W Diversey Chicago, IL		—		8,576		17,256		20		8,576		17,276		25,852		4,567	2011	(a)	40 years
15 Mercer Street Manhattan, NY		—		1,887		2,483		1		1,887		2,484		4,371		652	2011	(a)	40 years
4401 White Plains Bronx, NY		—		1,581		5,054		—		1,581		5,054		6,635		1,306	2011	(a)	40 years
56 E. Walton Chicago, IL		—		994		6,126		2,666		994		8,792		9,786		848	2011	(a)	40 years
841 W. Armitage Chicago, IL		—		728		1,989		422		728		2,411		3,139		777	2011	(a)	40 years
2731 N. Clark Chicago, IL		—		557		1,839		32		557		1,871		2,428		501	2011	(a)	40 years
2140 N. Clybourn Chicago, IL		—		306		788		54		306		842		1,148		209	2011	(a)	40 years
853 W. Armitage Chicago, IL		—		557		1,946		508		557		2,454		3,011		820	2011	(a)	40 years
2299 N. Clybourn Avenue Chicago, IL		—		177		484		—		177		484		661		126	2011	(a)	40 years
843-45 W. Armitage Chicago, IL		—		731		2,730		294		731		3,024		3,755		774	2012	(a)	40 years
1525 W. Belmont Avenue Chicago, IL		—		1,480		3,338		711		1,480		4,049		5,529		1,079	2012	(a)	40 years
2206-08 N. Halsted Chicago, IL		—		1,183		3,540		354		1,183		3,894		5,077		1,214	2012	(a)	40 years
2633 N. Halsted Chicago, IL		—		960		4,096		359		998		4,417		5,415		1,085	2012	(a)	40 years
50-54 E. Walton Chicago, IL		—		2,848		12,694		576		2,848		13,270		16,118		3,357	2012	(a)	40 years
662 W. Diversey Chicago, IL		—		1,713		1,603		10		1,713		1,613		3,326		365	2012	(a)	40 years


837 W. Armitage Chicago, IL	—	780	1,758	151		780	1,909	2,689	537	2012	(a)	40 years
823 W. Armitage Chicago, IL	—	717	1,149	95		717	1,244	1,961	294	2012	(a)	40 years
851 W. Armitage Chicago, IL	—	545	209	139		545	348	893	146	2012	(a)	40 years
1240 W. Belmont Avenue Chicago, IL	—	2,137	1,589	1,357		2,137	2,946	5,083	729	2012	(a)	40 years
21 E. Chestnut Chicago, IL	—	1,318	8,468	44		1,318	8,512	9,830	1,931	2012	(a)	40 years
819 W. Armitage Chicago, IL	—	790	1,266	187		790	1,453	2,243	427	2012	(a)	40 years
1520 Milwaukee Avenue Chicago, IL	—	2,110	1,306	290		2,110	1,596	3,706	427	2012	(a)	40 years
330-340 River St Cambridge, MA	10,601	8,404	14,235	—		8,404	14,235	22,639	3,650	2012	(a)	40 years
Rhode Island Place Shopping Center Washington, D.C.	—	7,458	15,968	2,397		7,458	18,365	25,823	5,324	2012	(a)	40 years
930 Rush Street Chicago, IL	—	4,933	14,587	—		4,933	14,587	19,520	3,555	2012	(a)	40 years
28 Jericho Turnpike Westbury, NY	12,353	6,220	24,416	53		6,220	24,469	30,689	6,137	2012	(a)	40 years
181 Main Street Westport, CT	—	1,908	12,158	683		1,908	12,841	14,749	2,988	2012	(a)	40 years
83 Spring Street Manhattan, NY	—	1,754	9,200	—		1,754	9,200	10,954	2,185	2012	(a)	40 years
179-53 & 1801-03 Connecticut Avenue Washington, D.C.	—	11,690	10,135	1,816		11,690	11,951	23,641	2,915	2012	(a)	40 years
639 West Diversey Chicago, IL	—	4,429	6,102	1,089		4,429	7,191	11,620	1,967	2012	(a)	40 years
664 North Michigan Chicago, IL	—	15,240	65,331	307		15,240	65,638	80,878	14,503	2013	(a)	40 years
8-12 E. Walton Chicago, IL	—	5,398	15,601	977		5,398	16,578	21,976	3,940	2013	(a)	40 years
3200-3204 M Street Washington, DC	—	6,899	4,249	168		6,899	4,417	11,316	1,071	2013	(a)	40 years
868 Broadway Manhattan, NY	—	3,519	9,247	5		3,519	9,252	12,771	1,868	2013	(a)	40 years
313-315 Bowery Manhattan, NY	—	—	5,516	—		—	5,516	5,516	1,786	2013	(a)	40 years
120 West Broadway Manhattan, NY	—	—	32,819	1,740		—	34,559	34,559	4,619	2013	(a)	40 years
11 E. Walton Chicago, IL	—	16,744	28,346	1,444		16,744	29,790	46,534	5,978	2014	(a)	40 years
61 Main Street Westport, CT	—	4,578	2,645	1,818		4,578	4,463	9,041	813	2014	(a)	40 years
865 W. North Avenue Chicago, IL	—	1,893	11,594	129		1,893	11,723	13,616	2,278	2014	(a)	40 years
152-154 Spring St. Manhattan, NY	—	8,544	27,001	347		8,544	27,348	35,892	5,265	2014	(a)	40 years
2520 Flatbush Ave Brooklyn, NY	—	6,613	10,419	303		6,613	10,722	17,335	2,134	2014	(a)	40 years
252-256 Greenwich Avenue Greenwich, CT	—	10,175	12,641	1,172		10,175	13,813	23,988	2,848	2014	(a)	40 years
Bedford Green Bedford Hills, NY	—	12,425	32,730	4,568		13,763	35,960	49,723	7,448	2014	(a)	40 years
131-135 Prince Street Manhattan, NY	—	—	57,536	750		—	58,286	58,286	20,235	2014	(a)	40 years
Shops at Grand Ave Queens, NY	—	20,264	33,131	1,740		20,264	34,871	55,135	6,528	2014	(a)	40 years
201 Needham Street Newton, MA	—	4,550	4,459	105		4,550	4,564	9,114	884	2014	(a)	40 years
City Center San Francisco, CA	—	36,063	109,098	5,154		26,386	123,929	150,315	21,023	2015	(a)	40 years
163 Highland Avenue Needham, MA	8,001	12,679	11,213	(107	)	12,529	11,256	23,785	2,065	2015	(a)	40 years
Roosevelt Galleria Chicago, IL	—	4,838	14,574	197		4,838	14,771	19,609	2,328	2015	(a)	40 years
Route 202 Shopping Center Wilmington, DE	—	—	6,346	504		—	6,850	6,850	1,628	2015	(a)	40 years
991 Madison Avenue Manhattan, NY	—	—	76,965	(75,355	)	—	1,610	1,610	496	2016	(a)	40 years
165 Newbury Street Boston, MA	—	1,918	3,980	—		1,918	3,980	5,898	564	2016	(a)	40 years
Concord & Milwaukee Chicago, IL	2,483	2,739	2,746	321		2,739	3,067	5,806	525	2016	(a)	40 years
State & Washington Chicago, IL	22,688	3,907	70,943	6,225		3,907	77,168	81,075	10,799	2016	(a)	40 years
151 N. State Street Chicago, IL	12,918	1,941	25,529	—		1,941	25,529	27,470	3,457	2016	(a)	40 years
North & Kingsbury Chicago, IL	11,332	18,731	16,292	2,045		18,731	18,337	37,068	2,336	2016	(a)	40 years
Sullivan Center Chicago, IL	50,000	13,443	137,327	1,590		13,443	138,917	152,360	18,762	2016	(a)	40 years
California & Armitage Chicago, IL	2,338	6,770	2,292	17		6,770	2,309	9,079	338	2016	(a)	40 years
555 9th Street San Francisco, CA	60,000	75,591	73,268	441		75,591	73,709	149,300	9,580	2016	(a)	40 years
Market Square Wilmington, DE	—	8,100	31,221	408		8,100	31,629	39,729	3,554	2017	(a)	40 years
613-623 W. Diversey Chicago, IL	—	10,061	2,773	11,443		10,061	14,216	24,277	3,976	2018	(c)	40 years
51 Greene Street Manhattan, NY	—	4,488	8,992	100		4,488	9,092	13,580	639	2019	(a)	40 years
53 Greene Street Manhattan, NY	—	3,605	12,177	2		3,605	12,179	15,784	837	2019	(a)	40 years


41 Greene Street Manhattan, NY	—	6,276	9,582	—		6,276	9,582	15,858	619	2019	(a)	40 years
47 Greene Street Manhattan, NY	—	6,265	16,758	6		6,265	16,764	23,029	1,012	2019	(a)	40 years
849 W Armitage Chicago, IL	—	837	2,731	—		837	2,731	3,568	168	2019	(a)	40 years
912 W Armitage Chicago, IL	—	982	2,868	—		982	2,868	3,850	175	2019	(a)	40 years
Melrose Place Collection Los Angeles, CA	—	20,490	26,788	—		20,490	26,788	47,278	1,456	2019	(a)	40 years
45 Greene Street Manhattan, NY	—	2,903	8,487	4		2,903	8,491	11,394	460	2019	(a)	40 years
565 Broadway Manhattan, NY	—	—	22,491	127		—	22,618	22,618	1,171	2019	(a)	40 years
907 W Armitage Chicago, IL	—	700	2,081	—		700	2,081	2,781	118	2019	(a)	40 years
37 Greene Street Manhattan, NY	—	6,721	9,119	—		6,721	9,119	15,840	456	2020	(a)	40 years
917 W Armitage Chicago, IL	—	901	2,368	—		901	2,368	3,269	123	2020	(a)	40 years
Brandywine Town Center Wilmington, DE	—	15,632	101,861	753		15,632	102,614	118,246	5,134	2020	(a)	40 years
1324 14th Street Washington, D.C.	—	728	3,044	—		728	3,044	3,772	—	2021	(a)	40 years
1526 14th Street Washington, D.C.	—	1,377	6,964	—		1,377	6,964	8,341	—	2021	(a)	40 years
1529 14th Street Washington, D.C.	—	1,485	10,411	—		1,485	10,411	11,896	—	2021	(a)	40 years
Fund II:
City Point Brooklyn, NY	255,978	—	100,316	521,360		—	621,676	621,676	95,189	2007	(c)	40 years
Fund IV:
210 Bowery Manhattan, NY	—	1,875	5,625	(6,490	)	518	492	1,010	150	2012	(c)	40 years
27 E. 61st Street Manhattan, NY	12,344	4,813	14,438	1,656		3,523	17,384	20,907	2,272	2014	(c)	40 years
17 E. 71st Street Manhattan, NY	8,895	7,391	20,176	326		7,391	20,502	27,893	3,817	2014	(a)	40 years
1035 Third Avenue Manhattan, NY	27,333	12,759	37,431	5,781		14,100	41,871	55,971	8,173	2015	(a)	40 years
801 Madison Avenue Manhattan, NY	19,548	4,178	28,470	(5,073	)	2,922	24,653	27,575	3,216	2015	(c)	40 years
2208-2216 Fillmore Street San Francisco, CA	5,533	3,027	6,376	157		3,027	6,533	9,560	1,018	2015	(a)	40 years
2207 Fillmore Street San Francisco, CA	1,120	1,498	1,735	125		1,498	1,860	3,358	302	2015	(a)	40 years
146 Geary St. San Francisco, CA	19,338	9,500	28,500	(785	)	8,037	29,178	37,215	922	2015	(a)	40 years
1964 Union Street San Francisco, CA	1,417	563	1,688	2,066		563	3,754	4,317	397	2016	(c)	40 years
Restaurants at Fort Point Boston, MA	5,855	1,041	10,905	182		1,041	11,087	12,128	1,679	2016	(a)	40 years
Wakeforest Crossing Wake Forest, NC	20,860	7,570	24,829	552		7,570	25,381	32,951	4,271	2016	(a)	40 years
Dauphin Plaza Harrisburg, PA	12,114	5,290	9,464	3,133		5,290	12,597	17,887	2,806	2016	(a)	40 years
Lincoln Place Fairview Heights, IL	22,861	7,149	22,201	2,429		7,149	24,630	31,779	3,729	2017	(a)	40 years
18 E. Broughton St. Savannah, GA	1,535	609	1,513	24		609	1,537	2,146	127	2018	(a)	40 years
20 E. Broughton St. Savannah, GA	1,001	588	937	12		588	949	1,537	77	2018	(a)	40 years
25 E. Broughton St. Savannah, GA	3,156	1,324	2,459	364		1,324	2,823	4,147	295	2018	(a)	40 years
109 W. Broughton St. Savannah, GA	6,422	2,343	6,560	289		2,343	6,849	9,192	569	2018	(a)	40 years
204-206 W. Broughton St. Savannah, GA	903	547	439	47		547	486	1,033	45	2018	(a)	40 years
216-218 W. Broughton St. Savannah, GA	2,645	1,160	2,736	2,065		1,160	4,801	5,961	425	2018	(a)	40 years
220 W. Broughton St. Savannah, GA	1,850	619	1,799	1,003		619	2,802	3,421	278	2018	(a)	40 years
223 W. Broughton St. Savannah, GA	903	465	688	33		465	721	1,186	56	2018	(a)	40 years
226-228 W. Broughton St. Savannah, GA	-	660	1,900	34		660	1,934	2,594	160	2018	(a)	40 years
309/311 W. Broughton St. Savannah, GA	2,329	1,160	2,695	2		1,160	2,697	3,857	219	2018	(a)	40 years
230-240 W. Broughton St. Savannah, GA	5,018	2,185	9,597	6		2,185	9,603	11,788	380	2020	(a)	40 years
102 E. Broughton St. Savannah, GA	—	—	514	—		—	514	514	20	2020	(a)	40 years
Fund V:
Plaza Santa Fe Santa Fe, NM	22,893	—	28,214	1,384		—	29,598	29,598	3,746	2017	(a)	40 years
Hickory Ridge Hickory, NC	29,128	7,852	29,998	4,858		7,852	34,856	42,708	4,318	2017	(a)	40 years
New Towne Plaza Canton, MI	16,232	5,040	17,391	780		5,040	18,171	23,211	2,329	2017	(a)	40 years
Fairlane Green Allen Park, MI	33,467	18,121	37,143	575		18,121	37,718	55,839	4,220	2017	(a)	40 years
Trussville Promenade Birmingham, AL	29,190	7,587	34,285	53		7,587	34,338	41,925	3,587	2018	(a)	40 years
Elk Grove Commons Elk Grove, CA	41,500	6,204	48,008	1,138		6,204	49,146	55,350	4,409	2018	(a)	40 years


Hiram Pavilion Hiram, GA		28,830			13,029		25,446		624		13,029		26,070		39,099		2,663	2018	(a)	40 years
Palm Coast Landing Palm Coast, FL		26,500			7,066		27,299		433		7,066		27,732		34,798		2,261	2019	(a)	40 years
Lincoln Commons Lincoln, RI		38,820			14,429		34,417		1,936		14,429		36,353		50,782		2,627	2019	(a)	40 years
Landstown Commons Virginia Beach, VA		60,900			10,222		69,005		1,856		10,222		70,861		81,083		4,537	2019	(a)	40 years
Canton Marketplace Canton, GA		31,801			11,883		34,902		132		11,883		35,034		46,917		327	2021	(a)	40 years
Monroe Marketplace Selinsgrove, PA		29,150			8,755		35,452		229		8,755		35,681		44,436		349	2021	(a)	40 years
Midstate East Brunswick, NJ		—			13,062		43,290		—		13,062		43,290		56,352		104	2021	(a)	40 years

Real Estate Under Development		52,000			84,977		35,440		83,356		94,654		109,119		203,773		—
Debt of Assets Held for Sale		46,015			—		—		—		—		—		—		—
Unamortized Loan Costs		(3,958	)		—		—		—		—		—		—		—
Unamortized Premium		446			—		—		—		—		—		—		—
Total	$	1,140,293		$	835,376	$	2,449,230	$	787,001	$	834,295	$	3,237,312	$	4,071,607	$	648,461

Notes:

Depreciation on buildings and improvements reflected in the consolidated statements of operations is calculated over the estimated useful life of the assets as follows: Buildings at 40 years and improvements at the shorter of lease term or useful life.

The aggregate gross cost of property included above for Federal income tax purposes was approximately $4.2 billion as of December 31, 2021.

The following table reconciles the activity for real estate properties from January 1, 2019 to December 31, 2021 (in thousands):


	Year Ended December 31,
	2021			2020			2019
				(As Restated)			(As Restated)
Balance at beginning of year	$	4,011,326		$	3,960,411		$	3,620,583
Improvements and other		32,070			71,409			95,097
Property acquisitions		172,558			19,109			303,884
Property dispositions or held for sale assets		(134,422	)		(19,659	)		(84,243	)
Right-of-use assets - finance leases obtained and reclassified		—			(76,965	)		102,055
Capital lease reclassified as Right-of-use assets - finance lease		—			—			(76,965	)
Consolidation of previously unconsolidated investments		—			129,863			—
Impairment charges		(9,925	)		(72,842	)		—
Balance at end of year	$	4,071,607		$	4,011,326		$	3,960,411

The following table reconciles accumulated depreciation from January 1, 2019 to December 31, 2021 (in thousands):


	Year Ended December 31,
	2021			2020			2019
				(As Restated)			(As Restated)
Balance at beginning of year	$	573,364		$	478,991		$	407,698
Depreciation related to real estate		90,456			101,849			83,040
Property dispositions or held for sale assets		(15,359	)		(939	)		(11,747	)
Right-of-use assets - finance leases reclassified		—			(6,537	)		—
Balance at end of year	$	648,461		$	573,364		$	478,991

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2021

Mortgage Loans On Real Estate [Abstract]

SCHEDULE IV-MORTGAGE LOANS ON REAL ESTATE

ACADIA REALTY TRUST

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

December 31, 2021

(in thousands)


Description	Effective Interest Rate	Final Maturity Date	Face Amount of Notes Receivable		Net Carrying Amount of Notes Receivable as of December 31, 2021
First Mortgage Loan	6.00%	4/1/2020	$	17,810	$	17,802
Mezzanine Loan	18.00%	7/1/2020		5,306		5,306
First Mortgage Loan	5.42%	6/1/2022		13,530		13,530
Mezzanine Loan	9.00%	1/13/2023		54,000		54,000
Other	4.65%	4/12/2026		6,000		6,000
Mezzanine Loan	8.00%	12/11/2027		5,000		5,000
First Mortgage Loan	9.00%	10/20/2022		16,000		16,000
First Mortgage Loan	6.56%	9/17/2024		43,000		42,000
Total			$	160,646		159,638
Allowance for credit loss						(5,752	)
Net carrying amount of notes receivable					$	153,886

The Company monitors the credit quality of its notes receivable on an ongoing basis and considers indicators of credit quality such as loan payment activity, the estimated fair value of the underlying collateral, the seniority of the Company's loan in relation to other debt secured by the collateral, the personal guarantees of the borrower and the prospects of the borrower.

The following table reconciles the activity for loans on real estate from January 1, 2019 to December 31, 2021 (in thousands):


	Reconciliation of Loans on Real Estate
	Year Ended December 31,
	2021			2020			2019
				(As Restated)			(As Restated)
Balance at beginning of year	$	100,882		$	114,943		$	111,775
Additions		58,000			59,585			18,418
Repayments		—			—			(15,250	)
Conversion of OP Units		(462	)		—			—
Conversion to real estate through receipt of deed		—			(72,428	)		—
Allowance for credit loss		(4,534	)		(1,218	)		—
Balance at end of year	$	153,886		$	100,882		$	114,943

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Segments

Principles of Consolidation

Use of Estimates

Real Estate

Depreciation is computed on the straight-line basis over estimated useful lives of the assets as follows:


Buildings and improvements	Useful lives of 40 years for buildings and 15 years for improvements
Furniture and fixtures	Useful lives, ranging from five years to 10 years
Tenant improvements	Shorter of economic life or lease terms

Dispositions of Real Estate

Real Estate Held for Sale

Notes Receivable

Investments in and Advances to Unconsolidated Joint Ventures

Cash and Cash Equivalents

Restricted Cash

Deferred Costs

Derivative Instruments and Hedging Activities

NonControlling Interests

Noncontrolling Interests

Revenue Recognition and Accounts Receivable

Stock-Based Compensation

Income Taxes

Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Operating Partnership's Equity Interest

The following table summarizes the general terms and Operating Partnership’s equity interests in the Funds and Mervyns II (dollars in millions):


Entity	Formation Date	Operating Partnership Share of Capital			Capital Called as of December 31, 2021 (b)		Unfunded Commitment (b, c)		Equity Interest Held By Operating Partnership (a)			Preferred Return			Total Distributions as of December 31, 2021 (b, c)
Fund II and Mervyns II (c)	6/2004		28.33	%	$	381.5	$	3.8		28.33	%		8	%	$	169.8
Fund III	5/2007		24.54	%		448.1		1.9		24.54	%		6	%		576.0
Fund IV	5/2012		23.12	%		488.1		41.9		23.12	%		6	%		193.1
Fund V (d)	8/2016		20.10	%		226.2		293.8		20.10	%		6	%		51.4

Amount represents the current economic ownership at December 31, 2021, which could differ from the stated legal ownership based upon the cumulative preferred returns of the respective Fund.

Represents the total for the Funds, including the Operating Partnership and noncontrolling interests’ shares.

As of April 8, 2021, Fund V's investment period was extended to August 25, 2022.

Restatement (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Condensed Balance Sheet


	December 31,
	2021		2020
Combined and Condensed Balance Sheets
Assets:
Rental property, net	$	631,661	$	633,375
Real estate under development		8,112		14,664
Other assets		78,300		70,710
Total assets	$	718,073	$	718,749
Liabilities and partners’ equity:
Mortgage notes payable	$	571,461	$	569,040
Other liabilities		69,166		76,341
Partners’ equity		77,446		73,368
Total liabilities and partners’ equity	$	718,073	$	718,749

Company's share of accumulated equity	$	113,285	$	112,088
Basis differential		66,031		66,724
Deferred fees, net of portion related to the Company's interest		4,071		3,559
Amounts receivable/payable by the Company		666		363
Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates		184,053		182,734
Investments carried at fair value or cost		128,334		74,479
Company's share of distributions in excess of income from and investments in unconsolidated affiliates		9,939		15,616
Investments in and advances to unconsolidated affiliates	$	322,326	$	272,829

Schedule of Condensed Income Statement


	Year Ended December 31,
	2021			2020			2019
Combined and Condensed Statements of Operations
Total revenues	$	80,823		$	78,054		$	77,507
Operating and other expenses		(28,572	)		(28,718	)		(24,894	)
Interest expense		(21,228	)		(22,651	)		(25,660	)
Depreciation and amortization		(30,518	)		(30,917	)		(25,012	)
Loss on extinguishment of debt		(35	)		—			—
Gain on disposition of properties (a)		3,206			—			—
Net income (loss) attributable to unconsolidated affiliates	$	3,676		$	(4,232	)	$	1,941

Company’s share of equity in net income (loss) of unconsolidated affiliates	$	6,023		$	(2,503	)	$	1,118
Income attributable to unconsolidated affiliates recently sold or consolidated		—			1,280		$	6,155
Basis differential amortization		(693	)		(1,834	)		(1,374	)
Company’s equity in earnings (losses) of unconsolidated affiliates	$	5,330		$	(3,057	)	$	5,899

Represents the gain on the sale of two land parcels by the Family Center at Riverdale on January 4, 2021.

Restatement

Schedule of Condensed Balance Sheet


	December 31, 2020
(dollars in thousands, except per share amounts)	As Reported		Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,260,139	$	(69,378	)	(a)	$	3,190,761
Real estate under development		247,349		(148	)	(a)		247,201
Net investments in real estate		3,507,488		(69,526	)			3,437,962
Notes receivable, net		101,450		(568	)	(b)		100,882
Investments in and advances to unconsolidated affiliates		249,807		23,022		(a,b)		272,829
Other assets, net		173,809		(3,528	)	(a)		170,281
Right-of-use assets - operating leases, net		76,268		—				76,268
Cash and cash equivalents		19,232		(533	)	(a)		18,699
Restricted cash		14,692		(3,596	)	(a)		11,096
Rents receivable, net		44,136		(1,084	)	(a)		43,052
Total assets	$	4,186,882	$	(55,813	)		$	4,131,069

LIABILITIES
Mortgage and other notes payable, net	$	1,125,356	$	23,230		(a,b,c)	$	1,148,586


Unsecured notes payable, net		500,083			(79,225	)	(c)		420,858
Unsecured line of credit		138,400			—				138,400
Accounts payable and other liabilities		269,911			(1,469	)	(a)		268,442
Lease liability - operating leases, net		88,816			—				88,816
Dividends and distributions payable		147			—				147
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,616			—				15,616
Total liabilities		2,138,329			(57,464	)			2,080,865
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,268,303 shares		86			—				86
Additional paid-in capital		1,683,165			—				1,683,165
Accumulated other comprehensive loss		(74,891	)		—				(74,891	)
Distributions in excess of accumulated earnings		(167,046	)		(275	)	(b)		(167,321	)
Total Acadia shareholders’ equity		1,441,314			(275	)			1,441,039
Noncontrolling interests		607,239			1,926		(a,b)		609,165
Total equity		2,048,553			1,651				2,050,204
Total liabilities and equity	$	4,186,882		$	(55,813	)		$	4,131,069

Schedule of Condensed Income Statement


	Year Ended December 31, 2020
(in thousands except per share amounts)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	251,002		$	(4,570	)	(a)	$	246,432
Other		4,482			(6	)	(a)		4,476
Total revenues		255,484			(4,576	)			250,908
Operating expenses
Depreciation and amortization		149,793			(2,564	)	(a)		147,229
General and administrative		36,055			(257	)	(a)		35,798
Real estate taxes		43,505			(1,028	)	(a)		42,477
Property operating		56,595			(1,044	)	(a)		55,551
Impairment charges		85,598			—				85,598
Total operating expenses		371,546			(4,893	)			366,653

Gain on disposition of properties		683			—				683
Operating loss		(115,379	)		317				(115,062	)
Equity in losses of unconsolidated affiliates		(1,237	)		(1,820	)	(a)		(3,057	)
Interest and other income		8,979			—				8,979
Realized and unrealized holding gains on investments and other		113,930			(568	)	(b)		113,362
Interest expense		(72,060	)		2,389		(a,b)		(69,671	)
Loss from continuing operations before income taxes		(65,767	)		318				(65,449	)
Income tax provision		(271	)		2		(a)		(269	)
Net loss		(66,038	)		320				(65,718	)
Net loss attributable to noncontrolling interests		57,279			(537	)	(a,b)		56,742
Net loss attributable to Acadia	$	(8,759	)	$	(217	)		$	(8,976	)
Net income attributable to participating securities	$	233		$	—			$	233
Shares for basic loss per share		86,442			—				86,442

Basic loss per share	$	(0.10	)	$	(0.01	)		$	(0.11	)


	Year Ended December 31, 2019
(in thousands except per share amounts)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	291,190		$	(5,720	)	(a,b)	$	285,470
Other		4,137			(22	)	(a)		4,115
Total revenues		295,327			(5,742	)			289,585
Operating expenses
Depreciation and amortization		125,443			(2,863	)	(a,b)		122,580
General and administrative		35,416			(1,117	)	(a,b)		34,299
Real estate taxes		39,315			(982	)	(a)		38,333
Property operating		51,153			(1,255	)	(a)		49,898
Impairment charges		1,721			—				1,721
Total operating expenses		253,048			(6,217	)			246,831

Gain on disposition of properties		30,324			—				30,324
Operating income		72,603			475				73,078
Equity in earnings of unconsolidated affiliates		8,922			(3,023	)	(a)		5,899
Interest and other income		7,988			—				7,988
Realized and unrealized holding gains on investments and other		6,947			—		(b)		6,947
Interest expense		(73,788	)		4,575		(a,b)		(69,213	)
Income from continuing operations before income taxes		22,672			2,027				24,699
Income tax provision		(1,468	)		3		(a)		(1,465	)
Net income		21,204			2,030				23,234
Net loss attributable to noncontrolling interests		31,841			(1,358	)	(a,b)		30,483
Net income attributable to Acadia	$	53,045		$	672			$	53,717
Net income attributable to participating securities	$	413		$	—			$	413
Shares for basic and diluted income per share		84,436			—				84,436

Basic and diluted income per share	$	0.62		$	0.01			$	0.63

Schedule of Comprehensive Income


	Year Ended December 31, 2020
(in thousands)	As Reported			Adjustments				As Restated

Net loss	$	(66,038	)	$	320			$	(65,718	)
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(74,236	)		550		(a)		(73,686	)
Reclassification of realized interest on swap agreements		15,203			(144	)	(a)		15,059
Other comprehensive loss		(59,033	)		406				(58,627	)
Comprehensive loss		(125,071	)		726				(124,345	)
Comprehensive loss attributable to noncontrolling interests		72,596			(644	)			71,952
Loss attributable to Acadia	$	(52,475	)	$	82			$	(52,393	)


	Year Ended December 31, 2019
(in thousands)	As Reported			Adjustments				As Restated

Net income	$	21,204		$	2,030			$	23,234
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(35,674	)		(209	)	(a)		(35,883	)
Reclassification of realized interest on swap agreements		(872	)		2		(a)		(870	)
Other comprehensive loss		(36,546	)		(207	)			(36,753	)
Comprehensive loss		(15,342	)		1,823				(13,519	)
Comprehensive loss attributable to noncontrolling interests		36,696			(1,450	)			35,246
Comprehensive Income attributable to Acadia	$	21,354		$	373			$	21,727

Schedule of Cash Flow Statement


	Year Ended December 31, 2020
(in thousands)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(66,038	)		320			$	(65,718	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		149,793			(2,564	)	(a,b)		147,229
Straight-line rents		(5,096	)		227		(a)		(4,869	)
Non-cash lease expense		3,392			—				3,392
Net unrealized holding gains on investments		(72,391	)		—				(72,391	)
Distributions of operating income from unconsolidated affiliates		3,286			—				3,286
Equity in (earnings) losses of unconsolidated affiliates		1,237			1,820		(a)		3,057
Stock compensation expense		10,912			—				10,912
Amortization of financing costs		5,169			(131	)	(a,b)		5,038
Impairment charges		85,598			—		(b)		85,598
Gain on disposition of properties		(683	)		—				(683	)
Allowance for credit loss		24,770			(201	)	(a)		24,569
Adjustments to straight-line rent reserves		22,074			(203	)	(a)		21,871
Gain on debt extinguishment		(18,339	)		—				(18,339	)
Other, net		(8,753	)		598		(a,b)		(8,155	)
Changes in assets and liabilities:
Other liabilities		(4,208	)		249		(a)		(3,959	)
Lease liability - operating leases		(1,579	)		—				(1,579	)
Prepaid expenses and other assets		32			(28	)	(a)		4
Rents receivable		(29,810	)		1,489		(a)		(28,321	)
Accounts payable and accrued expenses		3,199			(194	)	(a)		3,005
Net cash provided by operating activities		102,565			1,382				103,947
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(21,208	)		—				(21,208	)
Development, construction and property improvement costs		(40,483	)		3,904		(a)		(36,579	)
Proceeds from the disposition of properties, net		20,930			—				20,930
Investments in and advances to unconsolidated affiliates and other		(4,291	)		(10,192	)	(a)		(14,483	)
Return of capital from unconsolidated affiliates and other		14,686			—				14,686
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		187			—				187
Payment of deferred leasing costs		(7,979	)		1,572		(a)		(6,407	)
Change in control of previously unconsolidated affiliate		950			—				950
Net cash used in investing activities		(96,208	)		(4,716	)			(100,924	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(55,449	)		3,500		(a)		(51,949	)
Principal payments on unsecured debt		(136,490	)		—				(136,490	)
Proceeds received on mortgage and other notes		7,261			(1,910	)	(a)		5,351
Proceeds from unsecured debt		236,804			—				236,804
Payments of finance lease obligations		(903	)		—				(903	)
Proceeds from the sale (repurchase) of Common Shares		(22,386	)		—				(22,386	)
Capital contributions from noncontrolling interests		52,674			(500	)	(a)		52,174
Distributions to noncontrolling interests		(31,461	)		—				(31,461	)
Dividends paid to Common Shareholders		(50,182	)		—				(50,182	)
Deferred financing and other costs		(2,311	)		96		(a)		(2,215	)
Net cash used in financing activities		(2,443	)		1,186				(1,257	)
Increase in cash and restricted cash		3,914			(2,148	)			1,766
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $18,699 and restricted cash of $11,096 end of period	$	33,924		$	(4,129	)		$	29,795


	Year Ended December 31, 2020
(in thousands)	As Reported			Adjustments				As Restated
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $7,110	$	72,392		$	(2,009	)	(a)	$	70,383
Cash paid for income taxes, net of (refunds)	$	(329	)	$	—			$	(329	)

Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL	$	400		$	—			$	400
Assumption of accounts payable and accrued expenses through acquisition of real estate	$	116		$	—			$	116
Note receivable exchanged for real estate	$	72,430		$	—			$	72,430
Acquisition of real estate through assumption of debt	$	—		$	—			$	—
Distribution declared and payable	$	—		$	123		(c)	$	123
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities	$	(70,427	)	$	—			$	(70,427	)
Right-of-use assets, finance leases obtained in exchange for assets under capital lease	$	—		$	—			$	—
Right-of-use assets, operating leases exchanged for operating lease liabilities	$	33,189		$	—			$	33,189
Capital lease obligation exchanged for finance lease liability	$	—		$	—			$	—
Other liabilities exchanged for operating lease liabilities	$	—		$	—			$	—
Assumption of debt through investments in unconsolidated affiliates	$	—		$	—			$	—
Debt exchanged for deferred gain on tax credits	$	—		$	—			$	—
Other assets exchanged for deferred gain on tax credits	$	—		$	—			$	—
Settlement of note receivable through cancellation of OP Units	$	—		$	—			$	—
Right of use assets, operating leases terminated in exchange for finance lease liabilities	$	(1,432	)	$	—			$	(1,432	)

Change in control of previously unconsolidated (consolidated) investment
Increase in real estate	$	(135,190	)	$	—			$	(135,190	)
Decrease in investments in and advances to unconsolidated affiliates		96,816			—				96,816
Change in other assets and liabilities		1,238			—				1,238
Acquisition of noncontrolling interest asset		(588	)		—				(588	)
Decrease in notes receivable		38,674			—				38,674
Decrease in right-of-use assets, finance leases		—			—				—
Decrease in finance lease liability		—			—				—
Increase in cash and restricted cash upon change of control	$	950		$	—			$	950


	Year Ended December 31, 2019
(in thousands)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	21,204			2,030			$	23,234
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		125,443			(2,863	)	(a,b)		122,580
Straight-line rents		—			(4,185	)	(c)		(4,185	)
Distributions of operating income from unconsolidated affiliates		11,273			—				11,273
Equity in (earnings) losses of unconsolidated affiliates		(8,922	)		3,023		(a)		(5,899	)
Stock compensation expense		10,957			(951	)	(b)		10,006
Amortization of financing costs		7,577			(859	)	(a,b)		6,718
Impairment charges		1,721			—				1,721
Gain on disposition of properties		(30,324	)		—				(30,324	)
Allowance for credit loss		—			2,742		(a,c)		2,742
Adjustments to straight-line rent reserves		—			1,961		(a,b,c)		1,961
Deferred gain on tax credits		(5,034	)		—				(5,034	)
Other, net		(11,627	)		52		(a)		(11,575	)
Changes in assets and liabilities:
Other liabilities		(4,466	)		(384	)	(a)		(4,850	)
Lease liability - operating leases		—			2,014		(b)		2,014
Prepaid expenses and other assets		8,198			8		(a)		8,206
Rents receivable		(455	)		1,544		(c)		1,089
Accounts payable and accrued expenses		1,632			73		(a)		1,705
Net cash provided by operating activities		127,177			4,205				131,382
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(319,673	)		—				(319,673	)
Acquisition of leasehold interests		(39,031	)		—				(39,031	)
Development, construction and property improvement costs		(89,270	)		(115	)	(a)		(89,385	)
Proceeds from the disposition of properties, net		88,738			—				88,738
Investments in and advances to unconsolidated affiliates and other		(151,281	)		(13,641	)	(a)		(164,922	)
Return of capital from unconsolidated affiliates and other		105,999			6				106,005
Issuance of notes receivable		(3,608	)		—				(3,608	)
Proceeds from notes receivable		15,250			—				15,250
Return of deposits for properties under contract		2,870			—				2,870
Payment of deferred leasing costs		(7,051	)		269		(a)		(6,782	)
Net cash used in investing activities		(397,057	)		(13,481	)			(410,538	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(168,211	)		27,627		(a)		(140,584	)
Principal payments on unsecured debt		(521,600	)		—				(521,600	)
Proceeds received on mortgage and other notes		326,268			(18,900	)	(a)		307,368
Proceeds from unsecured debt		526,400			—				526,400
Payments of finance lease obligations		(2,749	)		—				(2,749	)
Proceeds from the sale (repurchase) of Common Shares		145,498			—				145,498
Capital contributions from noncontrolling interests		161,628			(263	)	(a)		161,365
Distributions to noncontrolling interests		(101,370	)		6		(a)		(101,364	)
Dividends paid to Common Shareholders		(93,902	)		—				(93,902	)
Deferred financing and other costs		(6,920	)		444		(a)		(6,476	)
Net cash provided by financing activities		265,042			8,914				273,956
Decrease in cash and restricted cash		(4,838	)		(362	)			(5,200	)
Cash of $20,074 and restricted cash of $13,155 beginning of period		34,848			(1,619	)			33,229
Cash of $14,149 and restricted cash of $13,880 end of period	$	30,010		$	(1,981	)		$	28,029


	Year Ended December 31, 2019
(in thousands)	As Reported			Adjustments				As Restated
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $12,586	$	53,586		$	15,490			$	69,076
Cash paid for income taxes, net of (refunds)	$	730		$	—			$	730

Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL	$	—		$	—			$	—
Assumption of accounts payable and accrued expenses through acquisition of real estate	$	4,666		$	—			$	4,666
Note receivable exchanged for real estate	$	13,530		$	—			$	13,530
Acquisition of real estate through assumption of debt	$	—		$	—			$	—
Distribution declared and payable	$	—		$	26,914		(c)	$	26,914
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities	$	16,349		$	—			$	16,349
Right-of-use assets, finance leases obtained in exchange for assets under capital lease	$	76,965		$	—			$	76,965
Right-of-use assets, operating leases exchanged for operating lease liabilities	$	57,165		$	—			$	57,165
Capital lease obligation exchanged for finance lease liability	$	71,111		$	—			$	71,111
Other liabilities exchanged for operating lease liabilities	$	946		$	—			$	946
Assumption of debt through investments in unconsolidated affiliates	$	4,688		$	—			$	4,688
Debt exchanged for deferred gain on tax credits	$	—		$	(5,262	)	(c)	$	(5,262	)
Other assets exchanged for deferred gain on tax credits	$	—		$	228		(c)	$	228
Settlement of note receivable through cancellation of OP Units	$	—		$	—			$	—
Right of use assets, operating leases terminated in exchange for finance lease liabilities	$	—		$	—			$	—

Change in control of previously unconsolidated (consolidated) investment
Increase in real estate	$	828		$	—			$	828
Decrease in investments in and advances to unconsolidated affiliates		(1,189	)		—				(1,189	)
Change in other assets and liabilities		12			—				12
Acquisition of noncontrolling interest asset		—			—				—
Decrease in notes receivable		—			—				—
Decrease in right-of-use assets, finance leases		11,051			—				11,051
Decrease in finance lease liability		(10,702	)		—				(10,702	)
Increase in cash and restricted cash upon change of control	$	—		$	—			$	—

Real Estate (Tables)

12 Months Ended

Dec. 31, 2021

Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]

Schedule of Consolidated Real Estate

The Company’s consolidated real estate is comprised of the following for the periods presented (in thousands):


	December 31,
	2021			2020
				(As Restated)
Land	$	739,641		$	752,721
Buildings and improvements		2,892,051			2,802,253
Tenant improvements		199,925			178,918
Construction in progress		11,131			5,147
Right-of-use assets - finance leases (Note 12)		25,086			25,086
Total		3,867,834			3,764,125
Less: Accumulated depreciation and amortization		(648,461	)		(573,364	)
Operating real estate, net		3,219,373			3,190,761
Real estate under development		203,773			247,201
Net investments in real estate	$	3,423,146		$	3,437,962

Schedule of Business Acquisitions, by Acquisition

During the years ended December 31, 2021 and 2020, the Company acquired the following consolidated retail properties and other real estate investments (dollars in thousands):


Property and Location	Percent Acquired	Date of Acquisition	Purchase Price
2021 Acquisitions
Core
14th Street Portfolio - Washington, DC	100%	Dec 23, 2021	$	26,320
Subtotal Core				26,320

Fund V
Canton Marketplace - Canton, GA	100%	Aug 20, 2021	$	50,954
Monroe Marketplace - Selinsgrove, PA	100%	Sept 9, 2021		44,796
Monroe Marketplace (Parcel) - Selinsgrove, PA	100%	Nov 12, 2021		1,029
Midstate - East Brunswick, NJ	100%	Dec 14, 2021		71,867
Subtotal Fund V				168,646
Total 2021 Acquisitions			$	194,966

2020 Acquisitions and Conversions
Core
Soho Acquisitions - 37 Greene Street - New York, NY	100%	Jan 9, 2020	$	15,689
917 W. Armitage - Chicago, IL	100%	Feb 13, 2020		3,515
Town Center - Wilmington, DE (Conversion) (Note 5)	100%	Apr 1, 2020		138,939
Subtotal Core				158,143

Fund IV
230-240 W. Broughton Street - Savannah, GA	100%	May 26, 2020		13,219
102 E. Broughton Street - Savannah, GA	100%	May 26, 2020		790
Subtotal Fund IV				14,009
Total 2020 Acquisitions and Conversions			$	172,152

Schedule of Purchase Price Allocations


	Year Ended December 31,
	2021			2020
Net Assets Acquired
Land	$	37,290		$	25,440
Buildings and improvements		134,065			123,459
Accounts receivable, prepaids and other assets		—			5,770
Acquisition-related intangible assets (Note 7)		39,953			23,061
Right-of-use asset - Operating lease (Note 12)		—			234
Acquisition-related intangible liabilities (Note 7)		(16,342	)		(4,569	)
Lease liability - Operating lease (Note 12)		—			(234	)
Accounts payable and other liabilities		—			(1,009	)
Net assets acquired	$	194,966		$	172,152

Consideration
Cash	$	161,846		$	21,208
Conversion of note receivable		—			38,674
Conversion of accrued interest		—			1,995
Debt assumed		31,801			—
Liabilities assumed		1,319			116
Existing interest in previously unconsolidated investment		—			109,571
Acquisition of noncontrolling interests		—			588
Total consideration	$	194,966		$	172,152

Schedule of Property Dispositions

During the years ended December 31, 2021, 2020 and 2019, the Company disposed of the following consolidated properties and other real estate investments (in thousands):


Property and Location	Owner	Date Sold	Sale Price		Gain on Sale
2021 Dispositions
60 Orange St - Bloomfield, NJ	Core	Jan 29, 2021	$	16,400	$	4,612
654 Broadway - New York, NY	Fund III	May 19, 2021		10,000		111
NE Grocer Portfolio (Selected Assets) - Maine	Fund IV	Jun 18, 2021		39,925		5,064
Total 2021 Dispositions (a)			$	66,325	$	9,787

2020 Dispositions
163 Highland Ave. (Easement) - Needham, MA	Core	Mar 19, 2020	$	238	$	88
Colonie Plaza - Albany, NY	Fund IV	Apr 13, 2020		15,250		485
Airport Mall (Parcel) - Bangor, ME	Fund IV	Sep 10, 2020		400		24
Cortlandt Crossing (Sewer Project and Retention Pond) - Cortlandt, NY	Fund III	Nov 30, 2020		6,325		—
Union Township (Parcel) - New Castle, PA	Core	Dec 11, 2020		200		86
Total 2020 Dispositions			$	22,413	$	683

2019 Dispositions
3104 M Street - Washington, DC	Fund III	Jan 24, 2019	$	10,500	$	2,014
210 Bowery - 3 Residential Condos - New York, NY	Fund IV	May 17, 2019 Sep 23, 2019 Nov 7, 2019		8,826		(242	)
JFK Plaza - Waterville, ME	Fund IV	Jul 24, 2019		7,800		2,075
3780-3858 Nostrand Avenue - New York, NY	Fund III	Aug 22, 2019		27,650		2,562
938 W North Avenue - Chicago, IL	Fund IV	Sep 27, 2019		32,000		7,144
Pacesetter Park - Pomona, NY	Core	Oct 28, 2019		22,550		16,771
Total 2019 Dispositions			$	109,326	$	30,324

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures


	Year Ended December 31,
	2021			2020			2019
Revenues	$	3,270		$	8,847		$	17,282
Expenses		(3,784	)		(8,625	)		1,212
Gain on disposition of properties		10,521			683			30,324
Net income attributable to noncontrolling interests		(4,151	)		(323	)		(10,967	)
Net income attributable to Acadia	$	5,856		$	582		$	37,851

Schedule Of Development In Process Activities

Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands):


	January 1, 2021				Year Ended December 31, 2021						December 31, 2021
	Number of Properties		Carrying Value		Transfers In		Capitalized Costs		Transfers Out		Number of Properties		Carrying Value
Core		—	$	63,875	$	—	$	1,855	$	23,213		—	$	42,517
Fund II		—		74,657		—		3,921		43,453		—		35,125
Fund III		1		23,104		—		1,192		—		1		24,296
Fund IV (a)		2		85,565		29,758		2,026		15,514		1		101,835
Total		3	$	247,201	$	29,758	$	8,994	$	82,180		2	$	203,773

Transfers in include $29.8 million related to the remaining portion of one Fund IV property that was placed into development.


	January 1, 2020				Year Ended December 31, 2020						December 31, 2020
	Number of Properties		Carrying Value		Transfers In		Capitalized Costs		Transfers Out		Number of Properties		Carrying Value
			(As Restated)										(As Restated)
Core		—	$	60,863	$	—	$	3,012	$	—		—	$	63,875
Fund II (a)		—		10,703		66,812		3,612		6,470		—		74,657
Fund III		1		36,240		—		35		13,171		1		23,104
Fund IV (b)		2		145,590		—		1,261		61,286		2		85,565
Total		3	$	253,396	$	66,812	$	7,920	$	80,927		3	$	247,201

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Notes Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2021

Accounts And Notes Receivable Net [Abstract]

Schedule of Notes Receivable


	December 31,						December 31, 2021
Description	2021			2020			Number		Maturity Date	Interest Rate
				(As Restated)
Core Portfolio (a)	$	154,332		$	96,794			7	Apr 2020 - Dec 2027	5.00% - 12.00%
Fund III		5,306			5,306			1	Jul 2020	18.00%
Total notes receivable		159,638			102,100
Allowance for credit loss		(5,752	)		(1,218	)
Notes receivable, net	$	153,886		$	100,882			8

Includes one and two notes receivable from OP Unit holders, for $6.0 million and $6.5 million at December 31, 2021 and 2020, respectively.

Investments in and Advances to Unconsolidated Affiliates (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments And Joint Ventures [Abstract]

Schedule of Equity Method Investments

The Company’s investments in and advances to unconsolidated affiliates consist of the following (dollars in thousands):


		Ownership Interest	December 31,
Portfolio	Property	December 31, 2021	2021		2020
					(As Restated)
Core:	840 N. Michigan (a)	88.43%	$	51,513	$	55,863
	Renaissance Portfolio	20%		28,466		29,270
	Gotham Plaza	49%		29,187		28,683
	Georgetown Portfolio	50%		4,089		4,624
	1238 Wisconsin Avenue	80%		5,895		2,571
				119,150		121,011

Mervyns I & II:	KLA/ABS (b)	36.7%		124,316		72,391

Fund III:	Self Storage Management (c)	95%		207		207
	640 Broadway (d)	63.13%		17,825		17,457
				18,032		17,664

Fund IV:	Fund IV Other Portfolio	98.57%		12,675		11,719
	650 Bald Hill Road	90%		11,677		12,550
	Paramus Plaza	50%		1,975		5,565
				26,327		29,834

Fund V:	Family Center at Riverdale (a)	89.42%		12,449		11,824
	Tri-City Plaza	90%		6,827		7,024
	Frederick County Acquisitions	90%		10,748		10,837
				30,024		29,685

Various:	Due from (to) Related Parties			666		363
	Other (e)			3,811		1,881
	Investments in and advances to unconsolidated affiliates		$	322,326	$	272,829

Core:	Crossroads (f)	49%	$	9,939	$	15,616
	Distributions in excess of income from, and investments in, unconsolidated affiliates		$	9,939	$	15,616

Represents a tenancy-in-common interest.

Includes an interest in Albertsons (at fair value, as described below).

Represents a variable interest entity for which the Company was determined not to be the primary beneficiary.

In January 2022, the Company obtained the partner's interest and now owns 100% and consolidates the entity (Note 18).

Includes cost-method investments in, Storage Post, Fifth Wall and other investments.

Distributions have exceeded the Company’s investment; however, the Company recognizes a liability balance as it may be required to return distributions to fund future obligations of the entity.

Schedule of Condensed Balance Sheet


	December 31,
	2021		2020
Combined and Condensed Balance Sheets
Assets:
Rental property, net	$	631,661	$	633,375
Real estate under development		8,112		14,664
Other assets		78,300		70,710
Total assets	$	718,073	$	718,749
Liabilities and partners’ equity:
Mortgage notes payable	$	571,461	$	569,040
Other liabilities		69,166		76,341
Partners’ equity		77,446		73,368
Total liabilities and partners’ equity	$	718,073	$	718,749

Company's share of accumulated equity	$	113,285	$	112,088
Basis differential		66,031		66,724
Deferred fees, net of portion related to the Company's interest		4,071		3,559
Amounts receivable/payable by the Company		666		363
Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates		184,053		182,734
Investments carried at fair value or cost		128,334		74,479
Company's share of distributions in excess of income from and investments in unconsolidated affiliates		9,939		15,616
Investments in and advances to unconsolidated affiliates	$	322,326	$	272,829

Schedule of Condensed Income Statement


	Year Ended December 31,
	2021			2020			2019
Combined and Condensed Statements of Operations
Total revenues	$	80,823		$	78,054		$	77,507
Operating and other expenses		(28,572	)		(28,718	)		(24,894	)
Interest expense		(21,228	)		(22,651	)		(25,660	)
Depreciation and amortization		(30,518	)		(30,917	)		(25,012	)
Loss on extinguishment of debt		(35	)		—			—
Gain on disposition of properties (a)		3,206			—			—
Net income (loss) attributable to unconsolidated affiliates	$	3,676		$	(4,232	)	$	1,941

Company’s share of equity in net income (loss) of unconsolidated affiliates	$	6,023		$	(2,503	)	$	1,118
Income attributable to unconsolidated affiliates recently sold or consolidated		—			1,280		$	6,155
Basis differential amortization		(693	)		(1,834	)		(1,374	)
Company’s equity in earnings (losses) of unconsolidated affiliates	$	5,330		$	(3,057	)	$	5,899

Represents the gain on the sale of two land parcels by the Family Center at Riverdale on January 4, 2021.

Other Assets, Net and Accounts Payable and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Schedule of Other Assets and Other Liabilities

Other assets, net and accounts payable and other liabilities are comprised of the following for the periods presented:


	December 31,
(in thousands)	2021			2020
Other Assets, Net:				(As Restated)
Lease intangibles, net (Note 7)	$	108,918		$	100,426
Deferred charges, net (a)		28,438			27,634
Accrued interest receivable		21,148			13,917
Prepaid expenses		17,230			17,117
Due from seller		3,364			3,682
Income taxes receivable		2,279			2,433
Other receivables		1,830			2,065
Deposits		1,647			1,704
Corporate assets, net		1,648			1,302
Derivative financial instruments (Note 9)		7			1
	$	186,509		$	170,281

(a) Deferred Charges, Net:
Deferred leasing and other costs	$	58,281		$	53,443
Deferred financing costs related to line of credit		9,953			11,341
		68,234			64,784
Accumulated amortization		(39,796	)		(37,150	)
Deferred charges, net	$	28,438		$	27,634

Accounts Payable and Other Liabilities:
Lease intangibles, net (Note 7)	$	76,778		$	76,434
Accounts payable and accrued expenses		56,580			52,399
Derivative financial instruments (Note 9)		45,027			89,612
Deferred income		38,373			31,785
Tenant security deposits, escrow and other		13,045			11,925
Lease liability - finance leases, net (Note 12)		6,612			6,287
	$	236,415		$	268,442

Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Liabilities Included in Other Assets and Accounts Payable and Other Liabilities

Intangible assets and liabilities are included in Other assets and Accounts payable and other liabilities (Note 6) on the consolidated balance sheets and summarized as follows (in thousands):


	December 31, 2021									December 31, 2020
	Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
Amortizable Intangible Assets										(As Restated)			(As Restated)			(As Restated)
In-place lease intangible assets	$	290,819		$	(189,981	)	$	100,838		$	265,063		$	(168,891	)	$	96,172
Above-market rent		24,191			(16,111	)		8,080			19,010			(14,756	)	$	4,254
	$	315,010		$	(206,092	)	$	108,918		$	284,073		$	(183,647	)	$	100,426

Amortizable Intangible Liabilities
Below-market rent	$	(171,245	)	$	94,871		$	(76,374	)	$	(162,238	)	$	86,266			(75,972	)
Above-market ground lease		(671	)		267			(404	)		(671	)		209			(462	)
	$	(171,916	)	$	95,138		$	(76,778	)	$	(162,909	)	$	86,475		$	(76,434	)

Scheduled Amortization of Acquired Lease Intangible Assets and Assumed Liabilities

The scheduled amortization of acquired lease intangible assets and assumed liabilities as of December 31, 2021 is as follows (in thousands):


Years Ending December 31,	Net Increase in Lease Revenues		Increase to Amortization			Reduction of Rent Expense		Net (Expense) Income
2022	$	5,215	$	(26,371	)	$	58	$	(21,098	)
2023		4,768		(19,902	)		58		(15,076	)
2024		4,700		(14,046	)		58		(9,288	)
2025		4,287		(9,804	)		58		(5,459	)
2026		3,992		(7,433	)		58		(3,383	)
Thereafter		45,332		(23,282	)		114		22,164
Total	$	68,294	$	(100,838	)	$	404	$	(32,140	)

Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Consolidated Indebtedness

A summary of the Company’s consolidated indebtedness is as follows (dollars in thousands):


	Interest Rate at			Carrying Value at
	December 31,	December 31,	Maturity Date at	December 31,			December 31,
	2021	2020	December 31, 2021	2021			2020
Mortgages Payable							(As Restated)
Core Fixed Rate	3.88%-5.89%	3.88%-5.89%	Feb 2024 - Apr 2035	$	145,464		$	147,810
Core Variable Rate - Swapped (a)	3.41%-4.54%	3.41%-4.54%	Jan 2023 - Nov 2028		72,957			80,500
Total Core Mortgages Payable					218,421			228,310
Fund II Variable Rate	LIBOR+2.75% - PRIME+2.00%	LIBOR+3.00% - PRIME+2.00%	Mar 2022 - August 2022		255,978			228,282
Fund II Variable Rate - Swapped		2.88%			—			18,803
Total Fund II Mortgages Payable					255,978			247,085
Fund III Variable Rate	LIBOR+2.75%	LIBOR+2.75%	Jun 2022		34,728			35,948
Fund IV Fixed Rate	4.50%	3.40%-4.50%	Oct 2025		1,120			6,726
Fund IV Variable Rate	LIBOR+1.60%-LIBOR+3.65%	LIBOR+1.60%-LIBOR+3.40%	Feb 2022 - Jun 2026		221,832			252,324
Fund IV Variable Rate - Swapped (a)	3.48%-4.61%	3.48%-4.61%	Apr 2022 - Dec 2022		23,316			47,690
Total Fund IV Mortgages and Other Notes Payable					246,268			306,740
Fund V Fixed Rate	3.35%		May 2023		31,801			—
Fund V Variable Rate	LIBOR + 1.85% - SOFR + 2.76%	LIBOR+1.50%-LIBOR+2.20%	Jun 2022 - Nov 2026		58,878			1,354
Fund V Variable Rate - Swapped (a)	2.43%-4.78%	2.95%-4.78%	Feb 2022 - Dec 2024		297,731			334,323
Total Fund V Mortgages Payable					388,410			335,677
Net unamortized debt issuance costs					(3,958	)		(5,722	)
Unamortized premium					446			548
Total Mortgages Payable				$	1,140,293		$	1,148,586
Unsecured Notes Payable
Core Variable Rate Credit Facility		LIBOR+2.55%		$	—		$	30,000
Core Variable Rate Unsecured Term Loans - Swapped (a)	3.65%-5.32%	2.49%-5.02%	Jun 2026		400,000			350,000
Total Core Unsecured Notes Payable					400,000			380,000
Fund II Unsecured Notes Payable	LIBOR+2.25%	LIBOR+1.65%	Sep 2022		40,000			40,000
Fund IV Subscription Facility	SOFR+2.01%	LIBOR+1.90%	Dec 2022		5,000			864
Fund V Subscription Facility	LIBOR+1.90%	LIBOR+1.60%	May 2022		118,028			250

Net unamortized debt issuance costs					(3,988	)		(256	)
Total Unsecured Notes Payable				$	559,040		$	420,858
Unsecured Line of Credit
Core Unsecured Line of Credit - Variable Rate	LIBOR + 1.40%		Jun 2025	$	46,491		$	—
Core Unsecured Line of Credit -Swapped (a)	3.65%-5.32%	2.49%-5.02%	Jun 2025		66,414			138,400
Total Unsecured Line of Credit				$	112,905		$	138,400

Total Debt - Fixed Rate (b, c)				$	1,038,803		$	1,124,255
Total Debt - Variable Rate (d)					780,935			589,019
Total Debt					1,819,738			1,713,274
Net unamortized debt issuance costs					(7,946	)		(5,978	)


Unamortized premium		446		548
Total Indebtedness	$	1,812,238	$	1,707,844

Includes $860.4 million and $969.7 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented.

Fixed-rate debt at December 31, 2021 and 2020 includes $0.0 million and $3.2 million, respectively of Core swaps that may be used to hedge debt instruments of the Funds.

Includes $110.5 million and $103.2 million, respectively, of variable-rate debt that is subject to interest cap agreements.

Scheduled Principal Repayments


Year Ending December 31,
2022	$	757,199
2023		110,541
2024		212,020
2025		178,236
2026		445,967
Thereafter		115,775
		1,819,738
Unamortized premium		446
Net unamortized debt issuance costs		(7,946	)
Total indebtedness	$	1,812,238

Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (in thousands):


	December 31, 2021						December 31, 2020
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Money market funds	$	—	$	—	$	—	$	—	$	—	$	—
Derivative financial instruments		—		7		—		—		1		—
Investment in Albertsons (Note 5)		124,316		—		—		72,391		—		—
Liabilities
Derivative financial instruments		—		45,027		—		—		89,612		—

Schedule of Items Measured at Fair Value on Nonrecurring Basis

Property and Location

Owner

Triggering Event

Level 3 Inputs

Effective Date

Total

Acadia's Share

2021 Impairment Charges

210 Bowery commercial unit,
New York, NY

Fund IV

Reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Sept 30, 2021

3,016

697

27 E. 61st Street
New York, NY

Fund IV

Reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Sept 30, 2021

6,909

1,597

Total 2021 Impairment Charges

9,925

2,294

2020 Impairment Charges

Cortlandt Crossing,
Mohegan Lake, NY

Fund III

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

27,402

6,726

654 Broadway,
New York, NY

Fund III

Reduced holding period

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

6,398

1,570

146 Geary Street,
San Francisco, CA

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

6,718

1,553

801 Madison Avenue,
New York, NY

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Mar 31, 2020

11,031

2,551

717 N. Michigan Avenue,
Chicago, IL

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Dec 31, 2020

17,392

4,021

110 University,
New York, NY

Fund IV

Reduced holding period, reduced projected operating income

Projections of: holding period, net operating income, cap rate, incremental costs

Dec 31, 2020

16,238

3,754

Fifth Wall Investment

Core

Decline in fair value

Projections of: reported fair value of net assets

Dec 31, 2020

419

Total 2020 Impairment Charges

85,598

20,594

2019 Impairment Charges

210 Bowery residential units,
New York, NY

Fund IV

Reduced selling price

Offering price

Jun 30, 2019

1,400

321

210 Bowery residential units,
New York, NY

Fund IV

Reduced selling price

Contract sales price

Sep 30, 2019

321

Total 2019 Impairment Charges

1,721

395

Schedule of Derivative Financial Instruments

The Company had the following interest rate swaps and caps for the periods presented (dollars in thousands):


					Strike Rate								Fair Value
Derivative Instrument	Aggregate Notional Amount		Effective Date	Maturity Date	Low				High			Balance Sheet Location	December 31, 2021			December 31, 2020
Core																(As Restated)
Interest Rate Swaps	$	539,369	Dec 2012-Jul 2020	Mar 2022-Jul 2030		1.71	%	—		3.77	%	Other Liabilities	$	(40,650	)	$	(74,990	)
	$	539,369											$	(40,650	)	$	(74,990	)

Fund II
Interest Rate Swap	$	—	Oct 2014	Nov 2021		1.49	%	—		1.49	%	Other Liabilities	$	—		$	(219	)
Interest Rate Cap		45,000	Mar 2019	Mar 2022		3.50	%	—		3.50	%	Other Assets		—			—
	$	45,000											$	—		$	(219	)

Fund IV
Interest Rate Swaps	$	23,316	Mar 2017-Dec 2019	Apr 2022-Dec 2022		1.48	%	—		2.61	%	Other Liabilities	$	(167	)	$	(1,186	)
Interest Rate Caps		71,338	Dec 2020 - Jul 2021	Dec 2022-Jul 2023		3.00	%	—		3.50	%	Other Assets		7			1
	$	94,654											$	(160	)	$	(1,185	)

Fund V
Interest Rate Swaps	$	297,731	Jun 2018-Feb 2021	Feb 2022-Oct 2024		0.23	%	—		2.88	%	Other Liabilities	$	(4,210	)	$	(13,217	)
	$	297,731											$	(4,210	)	$	(13,217	)

Total asset derivatives													$	7		$	1
Total liability derivatives													$	(45,027	)	$	(89,612	)

Schedule of Other Financial Instruments Carrying Values and Fair values


			December 31, 2021				December 31, 2020
	Level		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
							(As Restated)		(As Restated)
Notes Receivable (a)		3	$	153,886	$	154,093	$	100,882	$	101,567
Mortgage and Other Notes Payable (a)		3		1,143,805		1,125,571		1,153,760		1,134,560
Investment in non-traded equity securities (b)		3		3,656		4,062		1,726		1,456
Unsecured notes payable and Unsecured line of credit (c)		2		675,933		680,171		559,514		544,532

Represents the Operating Partnership’s cost-method investment in Fifth Wall (Note 5).

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2021

Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]

Schedule of Dividends Declared and Paid

The following table sets forth the distributions declared and/or paid during the periods presented:


Date Declared	Amount Per Share		Record Date	Payment Date

November 5, 2019	$	0.29	December 31, 2019	January 15, 2020
February 26, 2020	$	0.29	March 31, 2020	April 15, 2020
March 15, 2021	$	0.15	March 31, 2021	April 15, 2021
May 5, 2021	$	0.15	June 30, 2021	July 15, 2021
August 5, 2021	$	0.15	September 30, 2021	October 15, 2021
November 3, 2021	$	0.15	December 31, 2021	January 14, 2022

Summary of Activity in Accumulated Other Comprehensive Loss

The following tables set forth the activity in accumulated other comprehensive loss for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	Acadia's Share
Balance at January 1, 2021	$	(74,891	)

Other comprehensive income before reclassifications - swap agreements		30,500
Reclassification of realized interest on swap agreements		21,407
Net current period other comprehensive income		51,907
Net current period other comprehensive income attributable to noncontrolling interests		(13,230	)
Balance at December 31, 2021	$	(36,214	)

Balance at January 1, 2020	$	(31,474	)

Other comprehensive loss before reclassifications - swap agreements		(73,686	)
Reclassification of realized interest on swap agreements		15,059
Net current period other comprehensive loss		(58,627	)
Net current period other comprehensive loss attributable to noncontrolling interests		15,210
Balance at December 31, 2020	$	(74,891	)

Balance at January 1, 2019	$	516

Other comprehensive loss before reclassifications		(35,883	)
Reclassification of realized interest on swap agreements		(870	)
Net current period other comprehensive loss		(36,753	)
Net current period other comprehensive income attributable to noncontrolling interests		4,763
Balance at December 31, 2019	$	(31,474	)

Summary of Change in Noncontrolling Interest

The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2021, 2020 and 2019 (dollars in thousands):


	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at January 1, 2021	$	89,431		$	519,734		$	609,165
Distributions declared of $0.60 per Common OP Unit and distributions on Preferred OP Units		(4,185	)		—			(4,185	)
Net income for the year ended December 31, 2021		2,075			407			2,482
Conversion of 89,765 Common OP Units to Common Shares by limited partners of the Operating Partnership		(1,431	)		—			(1,431	)
Cancellation of OP Units (c)		(568	)		—			(568	)
Other comprehensive income - unrealized gain on valuation of swap agreements		2,072			3,918			5,990
Reclassification of realized interest expense on swap agreements		210			7,030			7,240
Noncontrolling interest contributions		—			30,164			30,164
Noncontrolling interest distributions		—			(27,051	)		(27,051	)
Employee Long-term Incentive Plan Unit Awards		11,284			—			11,284
Reallocation of noncontrolling interests (d)		(4,768	)		—			(4,768	)
Balance at December 31, 2021	$	94,120		$	534,202		$	628,322

Balance at January 1, 2020	$	97,670		$	548,769		$	646,439
Distributions declared of $0.29 per Common OP Unit		(2,218	)		—			(2,218	)
Net income (loss) for the year ended December 31, 2020		125			(56,867	)		(56,742	)
Conversion of 407,594 Common OP Units to Common Shares by limited partners of the Operating Partnership		(6,544	)		—			(6,544	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(2,709	)		(17,995	)		(20,704	)
Reclassification of realized interest expense on swap agreements		174			5,320			5,494
Noncontrolling interest contributions		—			52,174			52,174
Noncontrolling interest distributions		—			(27,574	)		(27,574	)
Employee Long-term Incentive Plan Unit Awards		10,130			—			10,130
Reallocation of noncontrolling interests (d)		(7,197	)		—			(7,197	)
Acquisition of noncontrolling interest		—			15,918			15,918
Cumulative effect of change in accounting principle		—			(11	)		(11	)
Balance at December 31, 2020	$	89,431		$	519,734		$	609,165

Balance at January 1, 2019	$	104,223		$	519,759		$	623,982
Distributions declared of $1.13 per Common OP Unit		(7,124	)		—			(7,124	)
Net income (loss) for the year ended December 31, 2019		3,836			(34,319	)		(30,483	)
Conversion of 307,663 Common OP Units to Common Shares by limited partners of the Operating Partnership		(5,104	)		—			(5,104	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(1,899	)		(2,946	)		(4,845	)
Reclassification of realized interest (income) expense on swap agreements		(62	)		144			82
Noncontrolling interest contributions		—			161,365			161,365
Noncontrolling interest distributions		—			(94,283	)		(94,283	)
Employee Long-term Incentive Plan Unit Awards		9,460			—			9,460
Rebalancing adjustment (c)		(6,611	)		—			(6,611	)
Balance at December 31, 2019	$	96,719		$	549,720		$	646,439

Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and five other subsidiaries.

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Activity for Reserves Related to Billed Rents and Straight-line Rents


	Year Ended December 31, 2021
	Balance at Beginning of Period		Provision (Recovery), Net			Write-Offs			Balance at End of Period

Allowance for credit loss - billed rents	$	30,170	$	(2,796	)	$	(3,788	)	$	23,586
Straight-line rent reserves		14,839		2,682			(2,636	)		14,885
Total - rents receivable	$	45,009	$	(114	)	$	(6,424	)	$	38,471


	Year Ended December 31, 2020
	Balance at Beginning of Period		Provision (Recovery), Net		Write-Offs			Balance at End of Period
	(As Restated)							(As Restated)
Allowance for credit loss - billed rents	$	6,669	$	24,569	$	(1,068	)	$	30,170
Straight-line rent reserves		4,739		21,871		(11,771	)		14,839
Total - rents receivable	$	11,408	$	46,440	$	(12,839	)	$	45,009

Schedule of Lease Cost

Additional disclosures regarding the Company’s leases as lessee are as follows:


	Year Ended December 31,
	2021			2020
Lease Cost
Finance lease cost:
Amortization of right-of-use assets	$	903		$	1,595
Interest on lease liabilities		388			1,635
Subtotal		1,291			3,230
Operating lease cost		7,184			7,661
Variable lease cost		84			143
Total lease cost	$	8,559		$	11,034

Other Information
Weighted-average remaining lease term - finance leases (years)		32.6			33.4
Weighted-average remaining lease term - operating leases (years)		14.1			26.4
Weighted-average discount rate - finance leases		6.3	%		6.2	%
Weighted-average discount rate - operating leases		5.1	%		5.6	%

Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases


			Minimum Rental Payments
Year Ending December 31,	Minimum Rental Revenues (a)		Operating Leases (b)			Finance Leases (b)
2022	$	211,660	$	5,368		$	34
2023		202,890		5,389			—
2024		178,050		5,414			—
2025		146,624		5,329			—
2026		118,052		5,173			—
Thereafter		480,093		24,434			12,515
		1,337,369		51,107			12,549
Interest		—		(12,348	)		(5,937	)
Total	$	1,337,369	$	38,759		$	6,612

Minimum rental payments include $18.3 million of interest related to operating leases and $5.9 million related to finance leases and exclude options or renewals not reasonably certain of exercise.

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of Segment Information

The following tables set forth certain segment information for the Company (in thousands):


	As of or for the Year Ended December 31, 2021
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	181,332		$	111,165		$	—		$	—		$	292,497
Depreciation and amortization		(69,103	)		(54,336	)		—			—			(123,439	)
Property operating expenses, other operating and real estate taxes		(56,957	)		(41,916	)		—			—			(98,873	)
General and administrative expenses		—			—			—			(40,125	)		(40,125	)
Impairment charges		—			(9,925	)		—			—			(9,925	)
Gain on disposition of properties		4,612			5,909			—			—			10,521
Operating income		59,884			10,897			—			(40,125	)		30,656
Interest income		—			—			9,065			—			9,065
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties		353			4,977			—			—			5,330
Interest expense		(29,454	)		(38,594	)		—			—			(68,048	)
Realized and unrealized holding gains on investments and other		—			53,654			(4,534	)		—			49,120
Income tax provision		—			—			—			(93	)		(93	)
Net income		30,783			30,934			4,531			(40,218	)		26,030
Net income attributable to noncontrolling interests		(2,276	)		(206	)		—			—			(2,482	)
Net income attributable to Acadia	$	28,507		$	30,728		$	4,531		$	(40,218	)	$	23,548

Real estate at cost (a)	$	2,356,645		$	1,714,962		$	—		$	—		$	4,071,607
Total Assets (a)	$	2,212,877		$	1,894,983		$	153,886		$	—		$	4,261,746
Cash paid for acquisition of real estate	$	26,176		$	135,670		$	—		$	—		$	161,846
Cash paid for development and property improvement costs	$	13,625		$	27,046		$	—		$	—		$	40,671


	As of or for the Year Ended December 31, 2020 As Restated
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	160,262		$	90,646		$	—		$	—		$	250,908
Depreciation and amortization		(76,125	)		(71,104	)		—			—			(147,229	)
Property operating expenses, other operating and real estate taxes		(57,246	)		(40,782	)		—			—			(98,028	)
General and administrative expenses		—			—			—			(35,798	)		(35,798	)
Impairment charges		(419	)		(85,179	)		—			—			(85,598	)
Gain on disposition of properties		174			509			—			—			683
Operating income (loss)		26,646			(105,910	)		—			(35,798	)		(115,062	)
Interest income		—			—			8,979			—			8,979
Equity in losses of unconsolidated affiliates inclusive of gains on disposition of properties		(874	)		(2,183	)		—			—			(3,057	)
Interest expense		(33,185	)		(36,486	)		—			—			(69,671	)
Realized and unrealized holding gains on investments and other		18,564			95,366			(568	)		—			113,362
Income tax provision		—			—			—			(269	)		(269	)
Net income (loss)		11,151			(49,213	)		8,411			(36,067	)		(65,718	)
Net (income) loss attributable to noncontrolling interests		(5,837	)		62,579			—			—			56,742
Net income (loss) attributable to Acadia	$	5,314		$	13,366		$	8,411		$	(36,067	)	$	(8,976	)

Real estate at cost (a)	$	2,330,116		$	1,681,210		$	—		$	—		$	4,011,326
Total Assets (a)	$	2,254,680		$	1,775,507		$	100,882		$	—		$	4,131,069
Cash paid for acquisition of real estate	$	19,963		$	1,245		$	—		$	—		$	21,208
Cash paid for development and property improvement costs	$	11,170		$	25,409		$	—		$	—		$	36,579


	As of or for the Year Ended December 31, 2019 As Restated
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	173,177		$	116,408		$	—	$	—		$	289,585
Depreciation and amortization		(61,819	)		(60,761	)		—		—			(122,580	)
Property operating expenses, other operating and real estate taxes		(47,032	)		(41,199	)		—		—			(88,231	)
General and administrative expenses		—			—			—		(34,299	)		(34,299	)
Impairment charges		—			(1,721	)		—		—			(1,721	)
Gain on disposition of properties		16,771			13,553			—		—			30,324
Operating income		81,097			26,280			—		(34,299	)		73,078
Interest income		—			—			7,988		—			7,988
Equity in earnings (loss) of unconsolidated affiliates inclusive of gains on disposition of properties		9,020			(3,121	)		—		—			5,899
Interest expense		(28,304	)		(40,909	)		—		—			(69,213	)
Realized and unrealized holding gains on investments and other		327			6,620			—		—			6,947
Income tax provision		—			—			—		(1,465	)		(1,465	)
Net income (loss)		62,140			(11,130	)		7,988		(35,764	)		23,234
Net loss attributable to noncontrolling interests		337			30,146			—		—			30,483
Net income attributable to Acadia	$	62,477		$	19,016		$	7,988	$	(35,764	)	$	53,717

Real estate at cost	$	2,252,230		$	1,708,181		$	—	$	—		$	3,960,411
Total Assets	$	2,350,833		$	1,785,919		$	114,943	$	—		$	4,251,695
Cash paid for acquisition of real estate and leasehold interest	$	173,892		$	184,812		$	—	$	—		$	358,704
Cash paid for development and property improvement costs	$	22,724		$	66,661		$	—	$	—		$	89,385

Share Incentive and Other Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Unvested Restricted Shares and LTIP Units

A summary of the status of the Company’s unvested Restricted Shares and LTIP Units is presented below:


Unvested Restricted Shares and LTIP Units	Common Restricted Shares			Weighted Grant-Date Fair Value		LTIP Units			Weighted Grant-Date Fair Value
Unvested at January 1, 2019		38,455		$	22.44		891,886		$	26.87
Granted		25,359			28.56		350,726			32.75
Vested		(21,424	)		27.12		(290,753	)		29.30
Forfeited		—			—		(15,679	)		31.49
Unvested at December 31, 2019		42,390			23.73		936,180			28.24
Granted		66,824			13.70		440,829			19.64
Vested		(19,264	)		27.72		(250,241	)		30.44
Forfeited		(39	)		24.77		(3,879	)		24.67
Unvested at December 31, 2020		89,911			15.42		1,122,889			24.38
Granted		43,078			19.94		666,967			19.48
Vested		(43,084	)		16.85		(283,024	)		26.66
Forfeited		(159	)		36.22		(91,637	)		36.22
Unvested at December 31, 2021		89,746		$	16.87		1,415,195		$	20.85

Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Net Income to Taxable Income (Loss)

Reconciliation of GAAP net income attributable to Acadia to taxable income (loss) is as follows:


	Year Ended December 31,
(in thousands)	2021			2020			2019
				(As Restated)			(As Restated)
Net income (loss) attributable to Acadia	$	23,548		$	(8,976	)	$	53,717
Deferred rental and other income (loss) (a)		3,209			(2,498	)		1,203
Book/tax difference - depreciation and amortization (a)		24,756			27,052			21,688
Straight-line rent and above- and below-market rent adjustments (a)		(8,588	)		8,630			(10,949	)
Book/tax differences - equity-based compensation		7,663			6,825			7,177
Joint venture equity in earnings, net (a)		3,962			(163	)		15,571
Impairment charges and reserves		2,657			18,734			—
Acquisition costs (a)		22			14			63
Gain on disposition of properties		(2,170	)		4,936			2,375
Book/tax differences - miscellaneous		(1,203	)		(36	)		(2,145	)
Taxable income	$	53,856		$	54,518		$	88,700
Distributions declared (b)	$	52,872		$	24,937		$	96,310

Schedule of Tax Status of Dividends

The Company has determined that the cash distributed to the shareholders for the periods presented is characterized as follows for Federal income tax purposes:


	Year Ended December 31,
	2021					2020					2019
	Per Share		%			Per Share		%			Per Share		%
Ordinary income - Non-Section 199A	$	—		—	%	$	—		—	%	$	—		—	%
Ordinary income - Section 199A		0.550		92	%		0.520		90	%		0.820		77	%
Qualified dividend		0.010		1	%		—		—	%		—		—	%
Capital gain		0.040		7	%		0.060		10	%		0.240		23	%
Total (a)	$	0.600		100	%	$	0.580		100	%	$	1.060		100	%

Schedule of TRS Income (Loss) and Provision for Income Taxes


	Year Ended December 31,
	2021			2020			2019
				(As Restated)			(As Restated)
TRS loss before income taxes	$	(4,240	)	$	(3,856	)	$	(3,117	)
(Provision) benefit for income taxes:
Federal		—			376			754
State and local		—			(268	)		317
TRS net loss before noncontrolling interests		(4,240	)		(3,748	)		(2,046	)
Noncontrolling interests		9			746			(369	)
TRS net loss	$	(4,231	)	$	(3,002	)	$	(2,415	)

Schedule of Effective Income Tax Rate Reconciliation


	Year Ended December 31,
	2021			2020			2019
				(As Restated)			(As Restated)
Federal tax benefit at statutory tax rate	$	(890	)	$	(810	)	$	(655	)
TRS state and local taxes, net of Federal benefit		(268	)		(244	)		(197	)
Tax effect of:
Permanent differences, net		252			227			239
Adjustment to deferred tax reserve		1,061			851			1,748
Other		(156	)		(132	)		(111	)
REIT state and local income and franchise taxes		94			377			441
Total provision for income taxes	$	93		$	269		$	1,465

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Schedule Of quarterly financial information


	March 31, 2020
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,331,043		$	(67,995	)	(a,b)	$	3,263,048
Real estate under development		237,831			(6	)	(a)		237,825
Net investments in real estate		3,568,874			(68,001	)			3,500,873
Notes receivable, net		173,159			—				173,159
Investments in and advances to unconsolidated affiliates		294,195			14,814		(a,b)		309,009
Other assets, net		179,043			(1,978	)	(a)		177,065
Right-of-use assets - operating leases, net		—			—				—
Cash and cash equivalents		23,404			(1,089	)	(a)		22,315
Restricted cash		14,212			(479	)	(a)		13,733
Rents receivable, net		52,251			1,431		(a,b)		53,682
Total assets	$	4,305,138		$	(55,302	)		$	4,249,836

LIABILITIES
Mortgage and other notes payable, net	$	1,170,622		$	(57,592	)	(a,b)	$	1,113,030
Unsecured notes payable, net		480,658			—				480,658
Unsecured line of credit		174,700			—				174,700
Accounts payable and other liabilities		425,330			(1,643	)	(a)		423,687
Lease liability - operating leases, net		—			—				—
Dividends and distributions payable		26,811			—				26,811
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,457			—				15,457
Total liabilities		2,293,578			(59,235	)			2,234,343
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 85,989,836 shares		86			—				86
Additional paid-in capital		1,686,794			—				1,686,794
Accumulated other comprehensive loss		(85,715	)		(299	)	(b)		(86,014	)
Distributions in excess of accumulated earnings		(166,701	)		(49	)	(b)		(166,750	)
Total Acadia shareholders’ equity		1,434,464			(348	)			1,434,116
Noncontrolling interests		577,096			4,281		(a,b)		581,377
Total equity		2,011,560			3,933				2,015,493
Total liabilities and equity	$	4,305,138		$	(55,302	)		$	4,249,836


	Three Months Ended March 31, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	70,457		$	676		(a,b)	$	71,133
Other		963			(1	)	(a)		962
Total revenues		71,420			675				72,095
Operating expenses
Depreciation and amortization		33,377			(729	)	(a)		32,648
General and administrative		9,070			(9	)	(a)		9,061
Real estate taxes		10,447			(252	)	(a)		10,195
Property operating		13,320			(283	)	(a)		13,037
Impairment charges		51,549			—				51,549
Total operating expenses		117,763			(1,273	)			116,490

Gain on disposition of properties		—			—				—
Operating loss		(46,343	)		1,948				(44,395	)
Equity in earnings of unconsolidated affiliates		1,255			(368	)	(a)		887
Interest and other income		2,929			—				2,929
Realized and unrealized holding gains on investments and other		(530	)		—				(530	)
Interest expense		(18,302	)		702		(a,b)		(17,600	)
Loss from continuing operations before income taxes		(60,991	)		2,282				(58,709	)
Income tax benefit		952			2		(a)		954
Net loss		(60,039	)		2,284				(57,755	)
Net loss attributable to noncontrolling interests		51,625			(2,275	)	(a,b)		49,350
Net loss attributable to Acadia	$	(8,414	)	$	9			$	(8,405	)
Net income attributable to participating securities	$	—		$	—			$	—
Shares for basic loss per share		86,972			—				86,972

Basic loss per share	$	(0.10	)	$	—			$	(0.10	)


	Three Months Ended March 31, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated

Net loss	$	(60,039	)	$	2,284			$	(57,755	)
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(74,774	)		239		(a)		(74,535	)
Reclassification of realized interest on swap agreements		977			(15	)	(a)		962
Other comprehensive loss		(73,797	)		224				(73,573	)
Comprehensive loss		(133,836	)		2,508				(131,328	)
Comprehensive loss attributable to noncontrolling interests		70,882			(2,499	)			68,383
Comprehensive Loss attributable to Acadia	$	(62,954	)	$	9			$	(62,945	)


Statement of Changes in Shareholders' Equity - Three Months Ended March 31, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares			Share Amount			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2020		87,050		$	87		$	1,706,357		$	(31,175	)	$	(132,961	)	$	1,542,308		$	644,657			$	2,186,965
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		148			—			2,472			—			—			2,472			(2,472	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,351	)		—			—			(22,352	)		—				(22,352	)
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,849	)			(26,786	)
Employee and trustee stock compensation, net		11			—			171			—			—			171			3,648				3,819
Noncontrolling interest distributions		—			—			—			—			—			—			(3,118	)			(3,118	)
Noncontrolling interest contributions		—			—			—			—			—			—			7,268				7,268
Comprehensive loss		—			—			—			(54,540	)		(8,414	)		(62,954	)		(70,882	)			(133,836	)
Reallocation of noncontrolling interests		—			—			145			—			—			145			(145	)			—
Balance at March 31, 2020		85,990		$	86		$	1,686,794		$	(85,715	)	$	(166,701	)	$	1,434,464		$	577,096			$	2,011,560
Adjustments
Balance at January 1, 2020		—		$	—		$	—		$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
Comprehensive loss		—			—			—			—			9			9			2,499		(a,b)		2,508
Total Adjustments		—		$	—		$	—		$	(299	)	$	(49	)	$	(348	)	$	4,281			$	3,933
As Restated
Balance at January 1, 2020 - As Restated		87,050		$	87		$	1,706,357		$	(31,474	)	$	(133,019	)	$	1,541,951		$	646,439			$	2,188,390
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		148			—			2,472			—			—			2,472			(2,472	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,351	)		—			—			(22,352	)		—				(22,352	)
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,849	)			(26,786	)
Employee and trustee stock compensation, net		11			—			171			—			—			171			3,648				3,819
Noncontrolling interest distributions		—			—			—			—			—			—			(3,118	)			(3,118	)
Noncontrolling interest contributions		—			—			—			—			—			—			7,268				7,268
Comprehensive loss		—			—			—			(54,540	)		(8,405	)		(62,945	)		(68,383	)			(131,328	)
Reallocation of noncontrolling interests		—			—			145			—			—			145			(145	)			—
Balance at March 31, 2020 - As Restated		85,990		$	86		$	1,686,794		$	(86,014	)	$	(166,750	)	$	1,434,116		$	581,377			$	2,015,493


	Three Months Ended March 31, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(60,039	)		2,284			$	(57,755	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		33,377			(729	)	(a,b)		32,648
Straight-line rents		—			(1,094	)	(a,c)		(1,094	)
Non-cash lease expense		—			619		(c)		619
Distributions of operating income from unconsolidated affiliates		1,898			—				1,898
Equity in (earnings) losses of unconsolidated affiliates		(1,255	)		368		(a)		(887	)
Stock compensation expense		3,819			—				3,819
Amortization of financing costs		1,763			(42	)	(a,b)		1,721
Impairment charges		51,549			—				51,549
Credit loss reserves		4,770			(4,770	)	(c)		—
Allowance for credit loss		—			1,238		(a,c)		1,238
Adjustments to straight-line rent reserves		—			967		(b,c)		967
Other, net		(1,107	)		1		(a)		(1,106	)
Changes in assets and liabilities:
Other liabilities		(6,844	)		122		(a)		(6,722	)
Lease liability - operating leases		—			(376	)	(c)		(376	)
Prepaid expenses and other assets		2,107			(177	)	(a)		1,930
Rents receivable		24			2,457		(a,c)		2,481
Accounts payable and accrued expenses		(2,327	)		24		(a)		(2,303	)
Net cash provided by operating activities		27,735			892				28,627
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(19,088	)		—				(19,088	)
Development, construction and property improvement costs		(13,333	)		489		(a,c)		(12,844	)
Proceeds from the disposition of properties, net		—			—				—
Investments in and advances to unconsolidated affiliates and other		(1,525	)		(951	)	(b)		(2,476	)
Return of capital from unconsolidated affiliates and other		5,024			—				5,024
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		200			—				200
Payment of deferred leasing costs		(2,763	)		(17	)	(a)		(2,780	)
Change in control of previously unconsolidated affiliate		—			—				—
Net cash used in investing activities		(90,485	)		(479	)			(90,964	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(1,488	)		—				(1,488	)
Principal payments on unsecured debt		(5,000	)		—				(5,000	)
Proceeds received on mortgage and other notes		689			—				689
Proceeds from unsecured debt		122,245			—				122,245
Payments of finance lease obligations		(625	)		—				(625	)
Proceeds from the sale (repurchase) of Common Shares		(22,352	)		—				(22,352	)
Capital contributions from noncontrolling interests		7,268			—				7,268
Distributions to noncontrolling interests		(4,914	)		—				(4,914	)
Dividends paid to Common Shareholders		(25,245	)		—				(25,245	)
Deferred financing and other costs		(222	)		—				(222	)
Net cash provided by financing activities		70,356			—				70,356
Increase in cash and restricted cash		7,606			413				8,019
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $22,315 and restricted cash of $13,733 end of period	$	37,616		$	(1,568	)		$	36,048


	June 30, 2020
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,368,557		$	(69,895	)	(a)	$	3,298,662
Real estate under development		264,684			(183	)	(a)		264,501
Net investments in real estate		3,633,241			(70,078	)			3,563,163
Notes receivable, net		134,692			—				134,692
Investments in and advances to unconsolidated affiliates		250,825			15,074		(a)		265,899
Other assets, net		196,741			(3,353	)	(a)		193,388
Right-of-use assets - operating leases, net		—			—				—
Cash and cash equivalents		34,273			(1,739	)	(a)		32,534
Restricted cash		14,074			(609	)	(a)		13,465
Rents receivable, net		64,902			(756	)	(a)		64,146
Total assets	$	4,328,748		$	(61,461	)		$	4,267,287

LIABILITIES
Mortgage and other notes payable, net	$	1,161,577		$	(58,622	)	(a,b)	$	1,102,955
Unsecured notes payable, net		472,507			—				472,507
Unsecured line of credit		177,400			—				177,400
Accounts payable and other liabilities		408,266			(4,953	)	(a)		403,313
Lease liability - operating leases, net		—			—				—
Dividends and distributions payable		147			—				147
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,520			—				15,520
Total liabilities		2,235,417			(63,575	)			2,171,842
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,264,641 shares		86			—				86
Additional paid-in capital		1,693,006							1,693,006
Accumulated other comprehensive loss		(90,209	)		—				(90,209	)
Distributions in excess of accumulated earnings		(147,291	)		(133	)			(147,424	)
Total Acadia shareholders’ equity		1,455,592			(133	)			1,455,459
Noncontrolling interests		637,739			2,247		(a)		639,986
Total equity		2,093,331			2,114				2,095,445
Total liabilities and equity	$	4,328,748		$	(61,461	)		$	4,267,287


	Three Months Ended June 30, 2020										Six Months Ended June 30, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	62,639		$	(3,218	)	(a,b)	$	59,421		$	133,096		$	(2,542	)	(a,b)	$	130,554
Other		1,134			(11	)	(a)		1,123			2,097			(12	)	(a)		2,085
Total revenues		63,773			(3,229	)			60,544			135,193			(2,554	)			132,639
Operating expenses
Depreciation and amortization		33,793			(416	)	(a,b)		33,377			67,170			(1,145	)	(a,b)		66,025
General and administrative		8,720			(38	)	(a)		8,682			17,790			(47	)	(a)		17,743
Real estate taxes		10,697			(252	)	(a)		10,445			21,144			(504	)	(a)		20,640
Property operating		16,806			(245	)	(a)		16,561			30,126			(528	)	(a)		29,598
Impairment charges		—			—				—			51,549			—				51,549
Total operating expenses		70,016			(951	)			69,065			187,779			(2,224	)			185,555

Gain on disposition of properties		485			—				485			485			—				485
Operating loss		(5,758	)		(2,278	)			(8,036	)		(52,101	)		(330	)			(52,431	)
Equity in losses of unconsolidated affiliates		(786	)		(394	)	(a)		(1,180	)		469			(762	)	(a)		(293	)
Interest and other income		2,095			—				2,095			5,024			—				5,024
Realized and unrealized holding gains on investments and other		87,811			—				87,811			87,281			—				87,281
Interest expense		(18,319	)		571		(a,b)		(17,748	)		(36,621	)		1,273		(a,b)		(35,348	)
Income from continuing operations before income taxes		65,043			(2,101	)			62,942			4,052			181				4,233
Income tax (provision) benefit		(137	)		—		(a)		(137	)		815			2		(a)		817
Net income		64,906			(2,101	)			62,805			4,867			183				5,050
Net (income) loss attributable to noncontrolling interests		(45,496	)		2,017		(a,b)		(43,479	)		6,129			(258	)	(a,b)		5,871
Net income attributable to Acadia	$	19,410		$	(84	)		$	19,326		$	10,996		$	(75	)		$	10,921
Net income attributable to participating securities	$	244		$	—			$	244		$	233		$	—			$	233
Shares for basic and diluted income per share		86,180			—				86,180			86,576			—				86,576

Basic and diluted income per share	$	0.22		$	—			$	0.22		$	0.12		$	—			$	0.12


	Three Months Ended June 30, 2020										Six Months Ended June 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net income	$	64,906		$	(2,101	)		$	62,805		$	4,867		$	183			$	5,050
Other comprehensive loss
Unrealized loss on valuation of swap agreements		(8,621	)		312		(a,b)		(8,309	)		(83,395	)		551		(a,b)		(82,844	)
Reclassification of realized interest on swap agreements		3,115			(30	)	(a)		3,085			4,092			(45	)	(a)		4,047
Other comprehensive loss		(5,506	)		282				(5,224	)		(79,303	)		506				(78,797	)
Comprehensive income (loss)		59,400			(1,819	)			57,581			(74,436	)		689				(73,747	)
Comprehensive (income) loss attributable to noncontrolling interests		(44,484	)		2,034				(42,450	)		26,398			(465	)			25,933
Comprehensive income (loss) attributable to Acadia	$	14,916		$	215			$	15,131		$	(48,038	)	$	224			$	(47,814	)


Statement of Changes in Shareholders' Equity - Three Months Ended June 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at April 1, 2020		85,990	$	86	$	1,686,794		$	(85,715	)	$	(166,701	)	$	1,434,464		$	577,096			$	2,011,560
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		260		—		4,072			—			—			4,072			(4,072	)			—
Repurchase of Common Shares		—		—		(34	)		—			—			(34	)		—				(34	)
Acquisition of noncontrolling interest		—		—		—			—			—			—			588				588
Dividends/distributions declared ($0.00 Share per Common Share/OP Unit)		—		—		—			—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		15		—		175			—			—			175			2,142				2,317
Noncontrolling interest distributions		—		—		—			—			—			—			(1,418	)			(1,418	)
Noncontrolling interest contributions		—		—		—			—			—			—			21,041				21,041
Comprehensive (loss) income		—		—		—			(4,494	)		19,410			14,916			44,484				59,400
Reallocation of noncontrolling interests		—		—		1,999			—			—			1,999			(1,999	)			—
Balance at June 30, 2020		86,265	$	86	$	1,693,006		$	(90,209	)	$	(147,291	)	$	1,455,592		$	637,739			$	2,093,331
Adjustments
Balance at April 1, 2020		—	$	—	$	—		$	(299	)	$	(49	)	$	(348	)	$	4,281			$	3,933
Comprehensive income (loss)		—		—		—			299			(84	)		215			(2,034	)	(a,b)		(1,819	)
Total Adjustments		—	$	—	$	—		$	—		$	(133	)	$	(133	)	$	2,247			$	2,114
As Restated
Balance at April 1, 2020 - As Restated		85,990	$	86	$	1,686,794		$	(86,014	)	$	(166,750	)	$	1,434,116		$	581,377			$	2,015,493
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		260		—		4,072			—			—			4,072			(4,072	)			—
Repurchase of Common Shares		—		—		(34	)		—			—			(34	)		—				(34	)
Acquisition of noncontrolling interest		—		—		—			—			—			—			588				588
Dividends/distributions declared ($0.00 Share per Common Share/OP Unit)		—		—		—			—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		15		—		175			—			—			175			2,142				2,317
Noncontrolling interest distributions		—		—		—			—			—			—			(1,418	)			(1,418	)
Noncontrolling interest contributions		—		—		—			—			—			—			21,041				21,041
Comprehensive (loss) income		—		—		—			(4,195	)		19,326			15,131			42,450				57,581
Reallocation of noncontrolling interests		—		—		1,999			—			—			1,999			(1,999	)			—
Balance at June 30, 2020 - As Restated		86,265	$	86	$	1,693,006		$	(90,209	)	$	(147,424	)	$	1,455,459		$	639,986			$	2,095,445


Statement of Changes in Shareholders' Equity - Six Months Ended June 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares			Share Amount			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2020		87,050			87			1,706,357			(31,175	)		(132,961	)	$	1,542,308			644,657			$	2,186,965
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,972	)			(26,909	)
Employee and trustee stock compensation, net		26			—			346			—			—			346			5,790				6,136
Noncontrolling interest distributions		—			—			—			—			—			—			(4,536	)			(4,536	)
Noncontrolling interest contributions		—			—			—			—			—			—			28,309				28,309
Comprehensive (loss) income		—			—			—			(59,034	)		10,996			(48,038	)		(26,398	)			(74,436	)
Reallocation of noncontrolling interests		—			—			2,144			—			—			2,144			(2,144	)			—
Balance at June 30, 2020		86,265		$	86		$	1,693,006		$	(90,209	)	$	(147,291	)	$	1,455,592		$	637,739			$	2,093,331
Adjustments
Balance at January 1, 2020		—		$	—		$	—		$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
Comprehensive (loss) income		—			—			—			299			(75	)		224			465		(a,b)		689
Total Adjustments		—		$	—		$	—		$	—		$	(133	)	$	(133	)	$	2,247			$	2,114
As Restated
Balance at January 1, 2020 - As Restated		87,050			87			1,706,357			(31,474	)		(133,019	)	$	1,541,951			646,439			$	2,188,390
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(1,972	)			(26,909	)
Employee and trustee stock compensation, net		26			—			346			—			—			346			5,790				6,136
Noncontrolling interest distributions		—			—			—			—			—			—			(4,536	)			(4,536	)
Noncontrolling interest contributions		—			—			—			—			—			—			28,309				28,309
Comprehensive (loss) income		—			—			—			(58,735	)		10,921			(47,814	)		(25,933	)			(73,747	)
Reallocation of noncontrolling interests		—			—			2,144			—			—			2,144			(2,144	)			—
Balance at June 30, 2020 - As Restated		86,265		$	86		$	1,693,006		$	(90,209	)	$	(147,424	)	$	1,455,459		$	639,986			$	2,095,445


	Six Months Ended June 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	4,867			183			$	5,050
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		67,170			(1,145	)	(a,b)		66,025
Straight-line rents		—			(2,807	)	(a,c)		(2,807	)
Non-cash lease expense		—			1,368		(c)		1,368
Net unrealized holding gains on investments		(64,937	)		—				(64,937	)
Distributions of operating income from unconsolidated affiliates		2,206			—				2,206
Equity in (earnings) losses of unconsolidated affiliates		(469	)		762		(a)		293
Stock compensation expense		6,136			—				6,136
Amortization of financing costs		2,920			(71	)	(a,b)		2,849
Impairment charges		51,549			—				51,549
Gain on disposition of properties		(485	)		—				(485	)
Credit loss reserves		16,175			(16,175	)	(c)		—
Allowance for credit loss		—			9,620		(a,c)		9,620
Adjustments to straight-line rent reserves		—			6,404		(a,c)		6,404
Other, net		(2,780	)		3		(a)		(2,777	)
Changes in assets and liabilities:
Other liabilities		(6,684	)		175		(a)		(6,509	)
Lease liability - operating leases		—			(807	)	(c)		(807	)
Prepaid expenses and other assets		(4,213	)		(343	)	(a)		(4,556	)
Rents receivable		(25,177	)		3,943		(a,c)		(21,234	)
Accounts payable and accrued expenses		12,222			(2,375	)	(a)		9,847
Net cash provided by operating activities		58,500			(1,265	)			57,235
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(21,208	)		—				(21,208	)
Development, construction and property improvement costs		(20,533	)		1,555		(a,c)		(18,978	)
Proceeds from the disposition of properties, net		13,925			—				13,925
Investments in and advances to unconsolidated affiliates and other		(3,270	)		(1,289	)	(a)		(4,559	)
Return of capital from unconsolidated affiliates and other		7,151			—				7,151
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		187			—				187
Payment of deferred leasing costs		(4,885	)		1,631		(a)		(3,254	)
Change in control of previously unconsolidated affiliate		950			—				950
Net cash used in investing activities		(86,683	)		1,897				(84,786	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(14,360	)		—				(14,360	)
Principal payments on unsecured debt		(69,930	)		—				(69,930	)
Proceeds received on mortgage and other notes		3,340			(1,000	)	(a)		2,340
Proceeds from unsecured debt		181,700			—				181,700
Payments of finance lease obligations		(833	)		—				(833	)
Proceeds from the sale (repurchase) of Common Shares		(22,386	)		—				(22,386	)
Capital contributions from noncontrolling interests		28,309			—				28,309
Distributions to noncontrolling interests		(8,178	)		—				(8,178	)
Dividends paid to Common Shareholders		(50,182	)		—				(50,182	)
Deferred financing and other costs		(960	)		—				(960	)
Net cash provided by financing activities		46,520			(1,000	)			45,520
Increase in cash and restricted cash		18,337			(368	)			17,969
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $32,534 and restricted cash of $13,465 end of period	$	48,347		$	(2,349	)		$	45,998


	September 30, 2020
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,347,431		$	(69,825	)	(a)	$	3,277,606
Real estate under development		268,298			(55	)	(a)		268,243
Net investments in real estate		3,615,729			(69,880	)			3,545,849
Notes receivable, net		134,798			—				134,798
Investments in and advances to unconsolidated affiliates		240,414			15,248		(a)		255,662
Other assets, net		183,170			(3,466	)	(a)		179,704
Right-of-use assets - operating leases, net		—			—				—
Cash and cash equivalents		16,108			(763	)	(a)		15,345
Restricted cash		13,673			(389	)	(a)		13,284
Rents receivable, net		47,516			(322	)	(a)		47,194
Total assets	$	4,251,408		$	(59,572	)		$	4,191,836

LIABILITIES
Mortgage and other notes payable, net	$	1,159,688		$	(59,560	)	(a,b)	$	1,100,128
Unsecured notes payable, net		502,500			—				502,500
Unsecured line of credit		127,400			—				127,400
Accounts payable and other liabilities		394,111			(2,519	)	(a)		391,592
Lease liability - operating leases, net		—			—				—
Dividends and distributions payable		147			—				147
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,462			—				15,462
Total liabilities		2,199,308			(62,079	)			2,137,229
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,266,122 shares		86			—				86
Additional paid-in capital		1,695,338			—				1,695,338
Accumulated other comprehensive loss		(85,873	)		—				(85,873	)
Distributions in excess of accumulated earnings		(156,321	)		(138	)			(156,459	)
Total Acadia shareholders’ equity		1,453,230			(138	)			1,453,092
Noncontrolling interests		598,870			2,645		(a)		601,515
Total equity		2,052,100			2,507				2,054,607
Total liabilities and equity	$	4,251,408		$	(59,572	)		$	4,191,836


	Three Months Ended September 30, 2020										Nine Months Ended September 30, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	50,300		$	(890	)	(a)	$	49,410		$	183,396		$	(3,432	)	(a,b)	$	179,964
Other		981			—				981			3,078			(12	)	(a)		3,066
Total revenues		51,281			(890	)			50,391			186,474			(3,444	)			183,030
Operating expenses
Depreciation and amortization		34,457			(697	)	(a)		33,760			101,627			(1,842	)	(a,b)		99,785
General and administrative		8,625			(210	)	(a)		8,415			26,415			(257	)	(a)		26,158
Real estate taxes		10,689			(261	)	(a)		10,428			31,833			(765	)	(a)		31,068
Property operating		11,559			(210	)	(a)		11,349			41,685			(738	)	(a)		40,947
Impairment charges		—			—				—			51,549			—				51,549
Total operating expenses		65,330			(1,378	)			63,952			253,109			(3,602	)			249,507

Gain on disposition of properties		24			—				24			509			—				509
Operating loss		(14,025	)		488				(13,537	)		(66,126	)		158				(65,968	)
Equity in losses of unconsolidated affiliates		(624	)		(612	)	(a)		(1,236	)		(155	)		(1,374	)	(a)		(1,529	)
Interest and other income		2,132			—				2,132			7,156			—				7,156
Realized and unrealized holding gains on investments and other		(7,946	)		—				(7,946	)		79,335			—				79,335
Interest expense		(17,752	)		570		(a,b)		(17,182	)		(54,373	)		1,843		(a,b)		(52,530	)
Loss from continuing operations before income taxes		(38,215	)		446				(37,769	)		(34,163	)		627				(33,536	)
Income tax (provision) benefit		(74	)		—		(a)		(74	)		741			2		(a)		743
Net loss		(38,289	)		446				(37,843	)		(33,422	)		629				(32,793	)
Net loss attributable to noncontrolling interests		29,259			(451	)	(a)		28,808			35,388			(709	)	(a,b)		34,679
Net (loss) income attributable to Acadia	$	(9,030	)	$	(5	)		$	(9,035	)	$	1,966		$	(80	)		$	1,886
Net income attributable to participating securities	$	—		$	—			$	—		$	233		$	—			$	233
Shares for basic (loss) and diluted income per share		86,309			—				86,309			86,486			—				86,486

Basic (loss) diluted income per share	$	(0.10	)	$	—			$	(0.10	)	$	0.02		$	—			$	0.02


	Three Months September 30, 2020										Nine Months Ended September 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net loss	$	(38,289	)	$	446			$	(37,843	)	$	(33,422	)	$	629			$	(32,793	)
Other comprehensive income (loss)
Unrealized gain (loss) on valuation of swap agreements		952			(3	)	(a)		949			(82,444	)		548		(a,b)		(81,896	)
Reclassification of realized interest on swap agreements		5,506			(50	)	(a)		5,456			9,598			(95	)	(a)		9,503
Other comprehensive income (loss)		6,458			(53	)			6,405			(72,846	)		453				(72,393	)
Comprehensive loss		(31,831	)		393				(31,438	)		(106,268	)		1,082				(105,186	)
Comprehensive loss attributable to noncontrolling interests		27,137			(398	)			26,739			53,536			(863	)			52,673
Comprehensive loss attributable to Acadia	$	(4,694	)	$	(5	)		$	(4,699	)	$	(52,732	)	$	219			$	(52,513	)


Statement of Changes in Shareholders' Equity - Three Months Ended September 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at July 1, 2020		86,265	$	86	$	1,693,006	$	(90,209	)	$	(147,291	)	$	1,455,592		$	637,739			$	2,093,331
Dividends/distributions declared ($0.00 per Common Share/OP Unit)		—		—		—		—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		1		—		232		—			—			232			2,181				2,413
Noncontrolling interest distributions		—		—		—		—			—			—			(20,117	)			(20,117	)
Noncontrolling interest contributions		—		—		—		—			—			—			8,427				8,427
Comprehensive income (loss)		—		—		—		4,336			(9,030	)		(4,694	)		(27,137	)			(31,831	)
Reallocation of noncontrolling interests		—		—		2,100		—			—			2,100			(2,100	)			—
Balance at September 30, 2020		86,266	$	86	$	1,695,338	$	(85,873	)	$	(156,321	)	$	1,453,230		$	598,870			$	2,052,100
Adjustments
Balance at July 1, 2020		—	$	—	$	—	$	—		$	(133	)	$	(133	)	$	2,247			$	2,114
Comprehensive income (loss)		—		—		—		—			(5	)		(5	)		398		(a,b)		393
Total Adjustments		—	$	—	$	—	$	—		$	(138	)	$	(138	)	$	2,645			$	2,507
As Restated
Balance at July 1, 2020 - As Restated		86,265	$	86	$	1,693,006	$	(90,209	)	$	(147,424	)	$	1,455,459		$	639,986			$	2,095,445
Dividends/distributions declared ($0.00 per Common Share/OP Unit)		—		—		—		—			—			—			(123	)			(123	)
Employee and trustee stock compensation, net		1		—		232		—			—			232			2,181				2,413
Noncontrolling interest distributions		—		—		—		—			—			—			(20,117	)			(20,117	)
Noncontrolling interest contributions		—		—		—		—			—			—			8,427				8,427
Comprehensive income (loss)		—		—		—		4,336			(9,035	)		(4,699	)		(26,739	)			(31,438	)
Reallocation of noncontrolling interests		—		—		2,100		—			—			2,100			(2,100	)			—
Balance at September 30, 2020		86,266	$	86	$	1,695,338	$	(85,873	)	$	(156,459	)	$	1,453,092		$	601,515			$	2,054,607


Statement of Changes in Shareholders' Equity - Nine Months Ended September 30, 2020
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts)	Common Shares			Share Amount			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2020		87,050		$	87		$	1,706,357		$	(31,175	)	$	(132,961	)	$	1,542,308		$	644,657			$	2,186,965
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Issuance of Common Shares		—			—			—			—			—			—			—				—
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(2,095	)			(27,032	)
Employee and trustee stock compensation, net		27			—			578			—			—			578			7,973				8,551
Noncontrolling interest distributions		—			—			—			—			—			—			(24,654	)			(24,654	)
Noncontrolling interest contributions		—			—			—			—			—			—			36,736				36,736
Comprehensive income (loss)		—			—			—			(54,698	)		1,966			(52,732	)		(53,536	)			(106,268	)
Reallocation of noncontrolling interests		—			—			4,244			—			—			4,244			(4,244	)			-
Balance at September 30, 2020		86,266		$	86		$	1,695,338		$	(85,873	)	$	(156,321	)	$	1,453,230		$	598,870			$	2,052,100
Adjustments
Balance at January 1, 2020		—		$	—		$	—		$	(299	)	$	(58	)	$	(357	)	$	1,782			$	1,425
Comprehensive income (loss)		—			—			—			299			(80	)		219			863		(a,b)		1,082
Total Adjustments		—		$	—		$	—		$	—		$	(138	)	$	(138	)	$	2,645			$	2,507
As Restated
Balance at January 1, 2020 - As Restated		87,050		$	87		$	1,706,357		$	(31,474	)	$	(133,019	)	$	1,541,951		$	646,439			$	2,188,390
Cumulative effect of change in accounting principle		—			—			—			—			(389	)		(389	)		(11	)			(400	)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		408			—			6,544			—			—			6,544			(6,544	)			—
Repurchase of Common Shares		(1,219	)		(1	)		(22,385	)		—			—			(22,386	)		—				(22,386	)
Acquisition of noncontrolling interest		—			—			—			—			—			—			588				588
Dividends/distributions declared ($0.29 per Common Share/OP Unit)		—			—			—			—			(24,937	)		(24,937	)		(2,095	)			(27,032	)
Employee and trustee stock compensation, net		27			—			578			—			—			578			7,973				8,551
Noncontrolling interest distributions		—			—			—			—			—			—			(24,654	)			(24,654	)
Noncontrolling interest contributions		—			—			—			—			—			—			36,736				36,736
Comprehensive income (loss)		—			—			—			(54,399	)		1,886			(52,513	)		(52,673	)			(105,186	)
Reallocation of noncontrolling interests		—			—			4,244			—			—			4,244			(4,244	)			—
Balance at September 30, 2020 - As Restated		86,266		$	86		$	1,695,338		$	(85,873	)	$	(156,459	)	$	1,453,092		$	601,515			$	2,054,607


	Nine Months Ended September 30, 2020
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(33,422	)		629			$	(32,793	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		101,627			(1,842	)	(a,b)		99,785
Straight-line rents		—			(3,861	)	(a,c)		(3,861	)
Non-cash lease expense		—			2,382		(c)		2,382
Net unrealized holding gains on investments		(57,031	)		—				(57,031	)
Distributions of operating income from unconsolidated affiliates		2,829			—				2,829
Equity in (earnings) losses of unconsolidated affiliates		155			1,374		(a)		1,529
Stock compensation expense		8,551			—				8,551
Amortization of financing costs		4,040			(99	)	(a,b)		3,941
Impairment charges		51,549			—				51,549
Gain on disposition of properties		(509	)		—				(509	)
Credit loss and straight-line rent reserves		39,882			(39,882	)	(c)		—
Allowance for credit loss		—			20,381		(a,c)		20,381
Adjustments to straight-line rent reserves		—			19,483		(a,c)		19,483
Other, net		(2,923	)		(306	)	(a,c)		(3,229	)
Changes in assets and liabilities:
Other liabilities		(7,736	)		153		(a)		(7,583	)
Lease liability - operating leases		—			(957	)	(c)		(957	)
Prepaid expenses and other assets		(1,435	)		(164	)	(a)		(1,599	)
Rents receivable		(31,511	)		4,735		(a,c)		(26,776	)
Accounts payable and accrued expenses		7,015			53		(a)		7,068
Net cash provided by operating activities		81,081			2,079				83,160
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(21,208	)		—				(21,208	)
Development, construction and property improvement costs		(27,949	)		1,064		(a,c)		(26,885	)
Proceeds from the disposition of properties, net		14,182			—				14,182
Investments in and advances to unconsolidated affiliates and other		(3,662	)		(2,023	)	(a)		(5,685	)
Return of capital from unconsolidated affiliates and other		9,054			—				9,054
Issuance of notes receivable		(59,000	)		—				(59,000	)
Return of deposits for properties under contract		187			—				187
Payment of deferred leasing costs		(5,422	)		1,620		(a)		(3,802	)
Change in control of previously unconsolidated affiliate		950			—				950
Net cash used in investing activities		(92,868	)		661				(92,207	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(18,981	)		—				(18,981	)
Principal payments on unsecured debt		(123,750	)		—				(123,750	)
Proceeds received on mortgage and other notes		5,523			(1,910	)	(a)		3,613
Proceeds from unsecured debt		215,554			—				215,554
Payments of finance lease obligations		(903	)		—				(903	)
Proceeds from the sale (repurchase) of Common Shares		(22,386	)		—				(22,386	)
Capital contributions from noncontrolling interests		36,736			—				36,736
Distributions to noncontrolling interests		(28,418	)		—				(28,418	)
Dividends paid to Common Shareholders		(50,182	)		—				(50,182	)
Deferred financing and other costs		(1,635	)		—				(1,635	)
Net cash provided by financing activities		11,558			(1,910	)			9,648
(Decrease) increase in cash and restricted cash		(229	)		830				601
Cash of $14,149 and restricted cash of $13,880 beginning of period		30,010			(1,981	)			28,029
Cash of $15,345 and restricted cash of $13,284 end of period	$	29,781		$	(1,151	)		$	28,630


	Three Months Ended December 31, 2020
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	67,606		$	(1,138	)	(a)	$	66,468
Other		1,404			6		(a)		1,410
Total revenues		69,010			(1,132	)			67,878
Operating expenses
Depreciation and amortization		48,166			(722	)	(a)		47,444
General and administrative		9,640			—				9,640
Real estate taxes		11,672			(263	)	(a)		11,409
Property operating		14,910			(306	)	(a)		14,604
Impairment charges		34,049			—				34,049
Total operating expenses		118,437			(1,291	)			117,146

Gain on disposition of properties		174			—				174
Operating loss		(49,253	)		159				(49,094	)
Equity in losses of unconsolidated affiliates		(1,082	)		(446	)	(a)		(1,528	)
Interest and other income		1,823			—				1,823
Realized and unrealized holding gains on investments and other		34,595			(568	)	(b)		34,027
Interest expense		(17,687	)		546		(a,b)		(17,141	)
Loss from continuing operations before income taxes		(31,604	)		(309	)			(31,913	)
Income tax provision		(1,012	)		—				(1,012	)
Net (loss) income		(32,616	)		(309	)			(32,925	)
Net loss attributable to noncontrolling interests		21,891			172		(a,b)		22,063
Net loss attributable to Acadia	$	(10,725	)	$	(137	)		$	(10,862	)
Net income attributable to participating securities	$	—		$	—			$	—
Shares for basic loss per share		86,311			—				86,311

Basic loss per share	$	(0.12	)	$	(0.01	)		$	(0.13	)


	March 31, 2021
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,238,031		$	(70,111	)	(a)	$	3,167,920
Real estate under development		234,338			—		(a)		234,338
Net investments in real estate		3,472,369			(70,111	)			3,402,258
Notes receivable, net		101,410			(1,950	)	(b)		99,460
Investments in and advances to unconsolidated affiliates		256,332			22,028		(a)		278,360
Other assets, net		162,596			(3,774	)	(a)		158,822
Right-of-use assets - operating leases, net		74,803			—				74,803
Cash and cash equivalents		15,424			(1,339	)	(a)		14,085
Restricted cash		15,723			(3,620	)	(a)		12,103
Rents receivable, net		46,356			(1,159	)	(a)		45,197
Assets of properties held for sale		8,669			—				8,669
Total assets	$	4,153,682		$	(59,925	)		$	4,093,757

LIABILITIES
Mortgage and other notes payable, net	$	1,188,695		$	(59,003	)	(a,b)	$	1,129,692
Unsecured notes payable, net		420,960			—				420,960
Unsecured line of credit		105,400			—				105,400
Accounts payable and other liabilities		237,058			(2,361	)	(a)		234,697
Lease liability - operating leases, net		87,910			—				87,910
Dividends and distributions payable		14,018			—				14,018
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,272			—				15,272
Total liabilities		2,069,313			(61,364	)			2,007,949
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,302,352 shares		86			—				86
Additional paid-in capital		1,683,552			—				1,683,552
Accumulated other comprehensive loss		(41,962	)		—				(41,962	)
Distributions in excess of accumulated earnings		(174,829	)		(620	)	(b)		(175,449	)
Total Acadia shareholders’ equity		1,466,847			(620	)			1,466,227
Noncontrolling interests		617,522			2,059		(a,b)		619,581
Total equity		2,084,369			1,439				2,085,808
Total liabilities and equity	$	4,153,682		$	(59,925	)		$	4,093,757


	Three Months Ended March 31, 2021
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated
Revenues
Rental income	$	67,205		$	(1,207	)	(a)	$	65,998
Other		2,189			—				2,189
Total revenues		69,394			(1,207	)			68,187
Operating expenses
Depreciation and amortization		31,390			(750	)	(a)		30,640
General and administrative		8,996			(4	)	(a)		8,992
Real estate taxes		11,462			(256	)	(a)		11,206
Property operating		13,477			(268	)	(a)		13,209
Impairment charges		—			—				—
Total operating expenses		65,325			(1,278	)			64,047

Gain on disposition of properties		4,612			—				4,612
Operating income		8,681			71				8,752
Equity in earnings of unconsolidated affiliates		2,263			(381	)	(a)		1,882
Interest and other income		1,700			—				1,700
Realized and unrealized holding gains on investments and other		6,507			(1,382	)	(b)		5,125
Interest expense		(17,141	)		527		(a,b)		(16,614	)
Income from continuing operations before income taxes		2,010			(1,165	)			845
Income tax provision		(150	)		2		(a)		(148	)
Net income		1,860			(1,163	)			697
Net loss attributable to noncontrolling interests		3,302			818		(a,b)		4,120
Net income attributable to Acadia	$	5,162		$	(345	)		$	4,817
Net income attributable to participating securities	$	156		$	—			$	156
Shares for basic and diluted income per share		86,346			—				86,346

Basic and diluted income per share	$	0.06		$	(0.01	)		$	0.05


	Three Months Ended March 31, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated

Net income	$	1,860		$	(1,163	)		$	697
Other comprehensive income
Unrealized gain on valuation of swap agreements		33,556			—		(a)		33,556
Reclassification of realized interest on swap agreements		5,317			(49	)	(a)		5,268
Other comprehensive income		38,873			(49	)			38,824
Comprehensive income		40,733			(1,212	)			39,521
Comprehensive income attributable to noncontrolling interests		(2,642	)		867				(1,775	)
Comprehensive Income attributable to Acadia	$	38,091		$	(345	)		$	37,746


Statement of Changes in Shareholders' Equity - Three Months Ended March 31, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2021		86,269	$	86	$	1,683,165		$	(74,891	)	$	(167,046	)	$	1,441,314		$	607,239			$	2,048,553
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		19		—		294			—			—			294			(294	)			—
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—			—			(12,945	)		(12,945	)		(1,048	)			(13,993	)
Employee and trustee stock compensation, net		14		—		462			—			—			462			4,049				4,511
Noncontrolling interest distributions		—		—		—			—			—			—			(6,676	)			(6,676	)
Noncontrolling interest contributions		—		—		—			—			—			—			11,241				11,241
Comprehensive income		—		—		—			32,929			5,162			38,091			2,642				40,733
Reallocation of noncontrolling interests		—		—		(369	)		—			—			(369	)		369				—
Balance at March 31, 2021		86,302	$	86	$	1,683,552		$	(41,962	)	$	(174,829	)	$	1,466,847		$	617,522			$	2,084,369
Adjustments
Balance at January 1, 2021		—	$	—	$	—		$	—		$	(275	)	$	(275	)	$	1,926			$	1,651
Noncontrolling interest distributions		—		—		—			—			—			—			1,000		(a)		1,000
Comprehensive income		—		—		—			—			(345	)		(345	)		(867	)	(a,b)		(1,212	)
Total Adjustments		—	$	—	$	—		$	—		$	(620	)	$	(620	)	$	2,059			$	1,439
As Restated
Balance at January 1, 2021 - As Restated		86,269	$	86	$	1,683,165		$	(74,891	)	$	(167,321	)	$	1,441,039		$	609,165			$	2,050,204
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		19		—		294			—			—			294			(294	)			—
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—			—			(12,945	)		(12,945	)		(1,048	)			(13,993	)
Employee and trustee stock compensation, net		14		—		462			—			—			462			4,049				4,511
Noncontrolling interest distributions		—		—		—			—			—			—			(5,676	)			(5,676	)
Noncontrolling interest contributions		—		—		—			—			—			—			11,241				11,241
Comprehensive income		—		—		—			32,929			4,817			37,746			1,775				39,521
Reallocation of noncontrolling interests		—		—		(369	)		—			—			(369	)		369				—
Balance at March 31, 2021 - As Restated		86,302	$	86	$	1,683,552		$	(41,962	)	$	(175,449	)	$	1,466,227		$	619,581			$	2,085,808


	Three Months Ended March 31, 2021
(in thousands)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	1,860			(1,163	)		$	697
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		31,390			(750	)	(a)		30,640
Straight-line rents		(1,128	)		36		(a)		(1,092	)
Non-cash lease expense		1,041			—				1,041
Net unrealized holding gains on investments		(6,135	)		—				(6,135	)
Distributions of operating income from unconsolidated affiliates		390			—				390
Equity in (earnings) losses of unconsolidated affiliates		(2,263	)		381		(a)		(1,882	)
Stock compensation expense		4,511			—				4,511
Amortization of financing costs		1,269			(18	)	(a,b)		1,251
Gain on disposition of properties		(4,612	)		—				(4,612	)
Allowance for credit loss		3,065			(123	)	(a)		2,942
Adjustments to straight-line rent reserves		817			79		(a)		896
Other, net		(2,312	)		1,386		(a,b)		(926	)
Changes in assets and liabilities:
Other liabilities		3,847			(48	)	(a)		3,799
Lease liability - operating leases		(494	)		—				(494	)
Prepaid expenses and other assets		1,859			(105	)	(a)		1,754
Rents receivable		(2,408	)		90		(a)		(2,318	)
Accounts payable and accrued expenses		237			275		(a)		512
Net cash provided by operating activities		30,934			40				30,974
CASH FLOWS FROM INVESTING ACTIVITIES
Development, construction and property improvement costs		(5,425	)		46		(a)		(5,379	)
Proceeds from the disposition of properties, net		15,703			—				15,703
Investments in and advances to unconsolidated affiliates and other		(1,725	)		(336	)	(a)		(2,061	)
Return of capital from unconsolidated affiliates and other		4,377			1,000		(a)		5,377
Payment of deferred leasing costs		(1,438	)		410		(a)		(1,028	)
Net cash provided by investing activities		11,492			1,120				12,612
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(20,406	)		—				(20,406	)
Principal payments on unsecured debt		(33,250	)		—				(33,250	)
Proceeds received on mortgage and other notes		3,809			(2,990	)	(a)		819
Proceeds from unsecured debt		536			—				536
Capital contributions from noncontrolling interests		11,241			—				11,241
Distributions to noncontrolling interests		(6,800	)		1,000		(a)		(5,800	)
Deferred financing and other costs		(333	)		—				(333	)
Net cash used in financing activities		(45,203	)		(1,990	)			(47,193	)
Decrease in cash and restricted cash		(2,777	)		(830	)			(3,607	)
Cash of $18,699 and restricted cash of $11,096 beginning of period		33,924			(4,129	)			29,795
Cash of $14,085 and restricted cash of $12,103 end of period	$	31,147		$	(4,959	)		$	26,188


	June 30, 2021
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,201,172		$	(69,819	)	(a)	$	3,131,353
Real estate under development		217,620			—		(a)		217,620
Net investments in real estate		3,418,792			(69,819	)			3,348,973
Notes receivable, net		117,280			(2,819	)	(b)		114,461
Investments in and advances to unconsolidated affiliates		258,063			22,177		(a)		280,240
Other assets, net		159,592			(3,798	)	(a)		155,794
Right-of-use assets - operating leases, net		42,398			—				42,398
Cash and cash equivalents		34,645			(1,566	)	(a)		33,079
Restricted cash		15,094			(3,432	)	(a)		11,662
Rents receivable, net		43,748			(1,062	)	(a)		42,686
Total assets	$	4,089,612		$	(60,319	)		$	4,029,293

LIABILITIES
Mortgage and other notes payable, net	$	1,162,617		$	(59,021	)	(a,b)	$	1,103,596
Unsecured notes payable, net		440,088			—				440,088
Unsecured line of credit		61,405			—				61,405
Accounts payable and other liabilities		239,056			(1,910	)	(a)		237,146
Lease liability - operating leases, net		40,861			—				40,861
Dividends and distributions payable		14,339			—				14,339
Distributions in excess of income from, and investments in, unconsolidated affiliates		14,896			—				14,896
Total liabilities		1,973,262			(60,931	)			1,912,331
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 88,419,303 shares		88			—				88
Additional paid-in capital		1,730,686			—				1,730,686
Accumulated other comprehensive loss		(47,909	)		—				(47,909	)
Distributions in excess of accumulated earnings		(184,174	)		(827	)	(b)		(185,001	)
Total Acadia shareholders’ equity		1,498,691			(827	)			1,497,864
Noncontrolling interests		617,659			1,439		(a,b)		619,098
Total equity		2,116,350			612				2,116,962
Total liabilities and equity	$	4,089,612		$	(60,319	)		$	4,029,293


	Three Months Ended June 30, 2021										Six Months Ended June 30, 2021
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	73,666		$	(1,597	)	(a)	$	72,069		$	140,871		$	(2,804	)	(a)	$	138,067
Other		994			(6	)	(a)		988			3,183			(6	)	(a)		3,177
Total revenues		74,660			(1,603	)			73,057			144,054			(2,810	)			141,244
Operating expenses
Depreciation and amortization		31,345			(805	)	(a)		30,540			62,735			(1,555	)	(a)		61,180
General and administrative		10,671			(18	)	(a)		10,653			19,667			(22	)	(a)		19,645
Real estate taxes		12,504			(290	)	(a)		12,214			23,966			(546	)	(a)		23,420
Property operating		12,890			(254	)	(a)		12,636			26,367			(522	)	(a)		25,845
Impairment charges		—			—				—			—			—				—
Total operating expenses		67,410			(1,367	)			66,043			132,735			(2,645	)			130,090

Gain on disposition of properties		5,909			—				5,909			10,521			—				10,521
Operating income		13,159			(236	)			12,923			21,840			(165	)			21,675
Equity in earnings of unconsolidated affiliates		1,106			(207	)	(a)		899			3,369			(588	)	(a)		2,781
Interest and other income		2,054			—				2,054			3,754			—				3,754
Realized and unrealized holding gains on investments and other		2,711			(869	)	(b)		1,842			9,218			(2,251	)	(b)		6,967
Interest expense		(17,605	)		531		(a,b)		(17,074	)		(34,746	)		1,058		(a,b)		(33,688	)
Income from continuing operations before income taxes		1,425			(781	)			644			3,435			(1,946	)			1,489
Income tax provision		(194	)		2		(a)		(192	)		(344	)		4		(a)		(340	)
Net income		1,231			(779	)			452			3,091			(1,942	)			1,149
Net loss attributable to noncontrolling interests		2,687			572		(a,b)		3,259			5,989			1,390		(a,b)		7,379
Net income attributable to Acadia	$	3,918		$	(207	)		$	3,711		$	9,080		$	(552	)		$	8,528
Net income attributable to participating securities	$	156		$	—			$	156		$	312		$	—			$	312
Shares for basic and diluted income per share		86,824			—				86,824			86,575			—				86,575

Basic and diluted income per share	$	0.04		$	—			$	0.04		$	0.10		$	(0.01	)		$	0.09


	Three Months Ended June 30, 2021										Six Months Ended June 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net income	$	1,231		$	(779	)		$	452		$	3,091		$	(1,942	)		$	1,149
Other comprehensive (loss) income
Unrealized (loss) gain on valuation of swap agreements		(10,073	)		4		(a)		(10,069	)		23,483			4		(a)		23,487
Reclassification of realized interest on swap agreements		5,324			(52	)	(a)		5,272			10,641			(101	)	(a)		10,540
Other comprehensive (loss) income		(4,749	)		(48	)			(4,797	)		34,124			(97	)			34,027
Comprehensive (loss) income		(3,518	)		(827	)			(4,345	)		37,215			(2,039	)			35,176
Comprehensive loss attributable to noncontrolling interests		1,489			620				2,109			(1,153	)		1,487				334
Comprehensive (loss) income attributable to Acadia	$	(2,029	)	$	(207	)		$	(2,236	)	$	36,062		$	(552	)		$	35,510


Statement of Changes in Shareholders' Equity - Three Months Ended June 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at April 1, 2021		86,302		86		1,683,552		(41,962	)		(174,829	)		1,466,847			617,522				2,084,369
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		7		—		115		—			—			115			(115	)			—
Repurchase of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,263	)		(13,263	)		(1,052	)			(14,315	)
Employee and trustee stock compensation, net		38		—		225		—			—			225			2,399				2,624
Noncontrolling interest distributions		—		—		—		—			—			—			(4,355	)			(4,355	)
Noncontrolling interest contributions		—		—		—		—			—			—			5,868				5,868
Comprehensive loss		—		—		—		(5,947	)		3,918			(2,029	)		(1,489	)			(3,518	)
Reallocation of noncontrolling interests		—		—		1,119		—			—			1,119			(1,119	)			—
Balance at June 30, 2021		88,419	$	88	$	1,730,686	$	(47,909	)	$	(184,174	)	$	1,498,691		$	617,659			$	2,116,350
Adjustments
Balance at April 1, 2021		—	$	—	$	—	$	—		$	(620	)	$	(620	)	$	2,059			$	1,439
Comprehensive loss		—		—		—		—			(207	)		(207	)		(620	)	(a,b)		(827	)
Total Adjustments		—	$	—	$	—	$	—		$	(827	)	$	(827	)	$	1,439			$	612
As Restated
Balance at April 1, 2021 - As Restated		86,302	$	86	$	1,683,552	$	(41,962	)	$	(175,449	)	$	1,466,227		$	619,581			$	2,085,808
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		7		—		115		—			—			115			(115	)			—
Issuance of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,263	)		(13,263	)		(1,052	)			(14,315	)
Employee and trustee stock compensation, net		38		—		225		—			—			225			2,399				2,624
Noncontrolling interest distributions		—		—		—		—			—			—			(4,355	)			(4,355	)
Noncontrolling interest contributions		—		—		—		—			—			—			5,868				5,868
Comprehensive loss		—		—		—		(5,947	)		3,711			(2,236	)		(2,109	)			(4,345	)
Reallocation of noncontrolling interests		—		—		1,119		—			—			1,119			(1,119	)			—
Balance at June 30, 2021 -As Restated		88,419	$	88	$	1,730,686	$	(47,909	)	$	(185,001	)	$	1,497,864		$	619,098			$	2,116,962


Statement of Changes in Shareholders' Equity - Six Months Ended June 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2021		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,046	)	$	1,441,314		$	607,239			$	2,048,553
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		26		—		409		—			—			409			(409	)			—
Issuance of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.30 per Common Share/OP Unit)		—		—		—		—			(26,208	)		(26,208	)		(2,100	)			(28,308	)
Employee and trustee stock compensation, net		52		—		687		—			—			687			6,448				7,135
Noncontrolling interest distributions		—		—		—		—			—			—			(11,031	)			(11,031	)
Noncontrolling interest contributions		—		—		—		—			—			—			17,109				17,109
Comprehensive (loss) income		—		—		—		26,982			9,080			36,062			1,153				37,215
Reallocation of noncontrolling interests		—		—		750		—			—			750			(750	)			—
Balance at June 30, 2021		88,419	$	88	$	1,730,686	$	(47,909	)	$	(184,174	)	$	1,498,691		$	617,659			$	2,116,350
Adjustments
Balance at January 1, 2021		—	$	—	$	—	$	—		$	(275	)	$	(275	)	$	1,926			$	1,651
Noncontrolling interest distributions		—		—		—		—			—			—			1,000		(a)		1,000
Comprehensive (loss) income		—		—		—		—			(552	)		(552	)		(1,487	)	(a,b)		(2,039	)
Total Adjustments		—	$	—	$	—	$	—		$	(827	)	$	(827	)	$	1,439			$	612
Balance at January 1, 2021 - Restated		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,321	)	$	1,441,039		$	609,165			$	2,050,204
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		26		—		409		—			—			409			(409	)			—
Issuance of Common Shares		2,072		2		45,675		—			—			45,677			—				45,677
Dividends/distributions declared ($0.30 per Common Share/OP Unit)		—		—		—		—			(26,208	)		(26,208	)		(2,100	)			(28,308	)
Employee and trustee stock compensation, net		52		—		687		—			—			687			6,448				7,135
Noncontrolling interest distributions		—		—		—		—			—			—			(10,031	)			(10,031	)
Noncontrolling interest contributions		—		—		—		—			—			—			17,109				17,109
Comprehensive (loss) income		—		—		—		26,982			8,528			35,510			(334	)			35,176
Reallocation of noncontrolling interests		—		—		750		—			—			750			(750	)			—
Balance at June 31, 2021 - Restated		88,419	$	88	$	1,730,686	$	(47,909	)	$	(185,001	)	$	1,497,864		$	619,098			$	2,116,962


	Six Months Ended June 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	3,091			(1,942	)		$	1,149
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		62,735			(1,555	)	(a)		61,180
Straight-line rents		(2,765	)		80		(a)		(2,685	)
Non-cash lease expense		2,066			—				2,066
Net unrealized holding gains on investments		(8,565	)		—				(8,565	)
Distributions of operating income from unconsolidated affiliates		1,387			—				1,387
Equity in (earnings) losses of unconsolidated affiliates		(3,369	)		588		(a)		(2,781	)
Stock compensation expense		7,135			—				7,135
Amortization of financing costs		2,546			(36	)	(a,b)		2,510
Gain on disposition of properties		(10,521	)		—				(10,521	)
Allowance for credit loss		1,238			(144	)	(a)		1,094
Termination of ground lease		(3,615	)		—				(3,615	)
Adjustments to straight-line rent reserves		511			73		(a)		584
Other, net		(4,127	)		2,258		(a,b)		(1,869	)
Changes in assets and liabilities:
Other liabilities		3,114			(74	)	(a)		3,040
Lease liability - operating leases		(1,533	)		—				(1,533	)
Prepaid expenses and other assets		(487	)		37		(a)		(450	)
Rents receivable		2,801			(24	)	(a)		2,777
Accounts payable and accrued expenses		(609	)		267		(a)		(342	)
Net cash provided by operating activities		51,033			(472	)			50,561
CASH FLOWS FROM INVESTING ACTIVITIES
Development, construction and property improvement costs		(16,620	)		880		(a)		(15,740	)
Proceeds from the disposition of properties, net		63,901			—				63,901
Investments in and advances to unconsolidated affiliates and other		(3,976	)		(647	)	(a)		(4,623	)
Return of capital from unconsolidated affiliates and other		7,717			1,000		(a)		8,717
Issuance of notes receivable		(15,995	)		—				(15,995	)
Return of deposits for properties under contract		(1,000	)		—				(1,000	)
Payment of deferred leasing costs		(3,080	)		360		(a)		(2,720	)
Net cash provided by investing activities		30,947			1,593				32,540
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(52,408	)		—				(52,408	)
Principal payments on unsecured debt		(102,800	)		—				(102,800	)
Proceeds received on mortgage and other notes		8,818			(2,990	)	(a)		5,828
Proceeds from unsecured debt		49,295			—				49,295
Proceeds from the sale (repurchase) of Common Shares		45,675			—				45,675
Capital contributions from noncontrolling interests		17,109			—				17,109
Distributions to noncontrolling interests		(12,202	)		1,000		(a)		(11,202	)
Dividends paid to Common Shareholders		(12,945	)		—				(12,945	)
Deferred financing and other costs		(6,707	)		—				(6,707	)
Net cash used in financing activities		(66,165	)		(1,990	)			(68,155	)
Increase in cash and restricted cash		15,815			(869	)			14,946
Cash of $18,699 and restricted cash of $11,096 beginning of period		33,924			(4,129	)			29,795
Cash of $33,079 and restricted cash of $11,662 end of period	$	49,739		$	(4,998	)		$	44,741


	September 30, 2021
(dollars in thousands, except per share amounts, unaudited)	As Reported			Adjustments				As Restated
ASSETS
Investments in real estate, at cost
Operating real estate, net	$	3,268,573		$	(69,334	)	(a)	$	3,199,239
Real estate under development		219,037			—		(a)		219,037
Net investments in real estate		3,487,610			(69,334	)			3,418,276
Notes receivable, net		158,468			(3,619	)	(b)		154,849
Investments in and advances to unconsolidated affiliates		305,668			21,828		(a)		327,496
Other assets, net		174,750			(3,477	)	(a)		171,273
Right-of-use assets - operating leases, net		41,577			—				41,577
Cash and cash equivalents		17,359			(1,201	)	(a)		16,158
Restricted cash		14,827			(3,463	)	(a)		11,364
Rents receivable, net		44,386			(1,094	)	(a)		43,292
Total assets	$	4,244,645		$	(60,360	)		$	4,184,285

LIABILITIES
Mortgage and other notes payable, net	$	1,181,028		$	(59,205	)	(a,b)	$	1,121,823
Unsecured notes payable, net		503,966			53		(b)		504,019
Unsecured line of credit		102,905			—				102,905
Accounts payable and other liabilities		245,697			(1,686	)	(a)		244,011
Lease liability - operating leases, net		39,743			—				39,743
Dividends and distributions payable		14,339			—				14,339
Distributions in excess of income from, and investments in, unconsolidated affiliates		15,456			—				15,456
Total liabilities		2,103,134			(60,838	)			2,042,296
Commitments and contingencies
EQUITY
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 88,451,668 shares		88			—				88
Additional paid-in capital		1,733,448			—				1,733,448
Accumulated other comprehensive loss		(43,169	)		—				(43,169	)
Distributions in excess of accumulated earnings		(185,373	)		(889	)	(b)		(186,262	)
Total Acadia shareholders’ equity		1,504,994			(889	)			1,504,105
Noncontrolling interests		636,517			1,367		(a,b)		637,884
Total equity		2,141,511			478				2,141,989
Total liabilities and equity	$	4,244,645		$	(60,360	)		$	4,184,285


	Three Months Ended September 30, 2021										Nine Months Ended September 30, 2021
(in thousands except per share amounts, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated
Revenues
Rental income	$	71,852		$	(1,550	)	(a)	$	70,302		$	212,723		$	(4,354	)	(a)	$	208,369
Other		1,594			—				1,594			4,777			(6	)	(a)		4,771
Total revenues		73,446			(1,550	)			71,896			217,500			(4,360	)			213,140
Operating expenses
Depreciation and amortization		30,866			(802	)	(a)		30,064			93,601			(2,357	)	(a)		91,244
General and administrative		9,978			(68	)	(a)		9,910			29,645			(90	)	(a)		29,555
Real estate taxes		11,320			(292	)	(a)		11,028			35,286			(838	)	(a)		34,448
Property operating		12,698			(255	)	(a)		12,443			39,065			(777	)	(a)		38,288
Impairment charges		9,925			—				9,925			9,925			—				9,925
Total operating expenses		74,787			(1,417	)			73,370			207,522			(4,062	)			203,460

Gain on disposition of properties		—			—				—			10,521			—				10,521
Operating (loss) gain		(1,341	)		(133	)			(1,474	)		20,499			(298	)			20,201
Equity in earnings of unconsolidated affiliates		644			(272	)	(a)		372			4,013			(860	)	(a)		3,153
Interest and other income		2,354			—				2,354			6,108			—				6,108
Realized and unrealized holding gains on investments and other		47,293			(800	)	(b)		46,493			56,511			(3,051	)	(b)		53,460
Interest expense		(17,334	)		720		(a,b)		(16,614	)		(52,080	)		1,778		(a,b)		(50,302	)
Income from continuing operations before income taxes		31,616			(485	)			31,131			35,051			(2,431	)			32,620
Income tax provision		(59	)		—				(59	)		(403	)		4		(a)		(399	)
Net income		31,557			(485	)			31,072			34,648			(2,427	)			32,221
Net income attributable to noncontrolling interests		(19,488	)		423		(a,b)		(19,065	)		(13,499	)		1,813		(a,b)		(11,686	)
Net income attributable to Acadia		12,069		$	(62	)		$	12,007		$	21,149		$	(614	)		$	20,535
Net income attributable to participating securities	$	156		$	—			$	156		$	468		$	—			$	468
Shares for basic and diluted income per share		88,481			—				88,481			87,217			—				87,217

Basic and diluted income per share	$	0.13		$	—			$	0.13		$	0.24		$	(0.01	)		$	0.23


	Three Months September 30, 2021										Nine Months Ended September 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated			As Reported			Adjustments				As Restated

Net income	$	31,557		$	(485	)		$	31,072		$	34,648		$	(2,427	)		$	32,221
Other comprehensive income
Unrealized gain on valuation of swap agreements		1,045			3		(a)		1,048			24,528			7		(a)		24,535
Reclassification of realized interest on swap agreements		5,528			(52	)	(a)		5,476			16,169			(153	)	(a)		16,016
Other comprehensive income		6,573			(49	)			6,524			40,697			(146	)			40,551
Comprehensive income		38,130			(534	)			37,596			75,345			(2,573	)			72,772
Comprehensive income attributable to noncontrolling interests		(21,321	)		472				(20,849	)		(22,474	)		1,959				(20,515	)
Comprehensive income attributable to Acadia	$	16,809		$	(62	)		$	16,747		$	52,871		$	(614	)		$	52,257


Statement of Changes in Shareholders' Equity - Three Months Ended September 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at July 1, 2021		88,419	$	88	$	1,730,686	$	(47,909	)	$	(184,174	)	$	1,498,691		$	617,659			$	2,116,350
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		18		—		288		—			—			288			(288	)			—
Cancellation of OP Units		—		—		—		—			—			—			(479	)			(479	)
Issuance of Common Shares		13		—		189		—			—			189			—				189
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,268	)		(13,268	)		(1,046	)			(14,314	)
Employee and trustee stock compensation, net		2		—		225		—			—			225			2,419				2,644
Noncontrolling interest distributions		—		—		—		—			—			—			(10,527	)			(10,527	)
Noncontrolling interest contributions		—		—		—		—			—			—			9,518				9,518
Comprehensive income		—		—		—		4,740			12,069			16,809			21,321				38,130
Reallocation of noncontrolling interests		—		—		2,060		—			—			2,060			(2,060	)			—
Balance at September 30, 2021		88,452	$	88	$	1,733,448	$	(43,169	)	$	(185,373	)	$	1,504,994		$	636,517			$	2,141,511
Adjustments
Balance at July 1, 2021		—	$	—	$	—	$	—		$	(827	)	$	(827	)	$	1,439			$	612
Noncontrolling interest distributions		—		—		—		—			—			—			400		(a)		400
Comprehensive income		—		—		—		—			(62	)		(62	)		(472	)	(a,b)		(534	)
Total Adjustments		—	$	—	$	—	$	—		$	(889	)	$	(889	)	$	1,367			$	478
As Restated
Balance at July 1, 2021 - As Restated		88,419	$	88	$	1,730,686	$	(47,909	)	$	(185,001	)	$	1,497,864		$	619,098			$	2,116,962
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		18		—		288		—			—			288			(288	)			—
Cancellation of OP Units		—		—		-		—			—			—			(479	)			(479	)
Issuance of Common Shares		13		—		189		—			—			189			—				189
Dividends/distributions declared ($0.15 per Common Share/OP Unit)		—		—		—		—			(13,268	)		(13,268	)		(1,046	)			(14,314	)
Employee and trustee stock compensation, net		2		—		225		—			—			225			2,419				2,644
Noncontrolling interest distributions		—		—		—		—			—			—			(10,127	)			(10,127	)
Noncontrolling interest contributions		—		—		—		—			—			—			9,518				9,518
Comprehensive income		—		—		—		4,740			12,007			16,747			20,849				37,596
Reallocation of noncontrolling interests		—		—		2,060		—			—			2,060			(2,060	)			—
Balance at September 30, 2021 - As Restated		88,452	$	88	$	1,733,448	$	(43,169	)	$	(186,262	)	$	1,504,105		$	637,884			$	2,141,989


Statement of Changes in Shareholders' Equity - Nine Months Ended September 30, 2021
As Previously Reported	Acadia Shareholders
(in thousands, except per share amounts, unaudited)	Common Shares		Share Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Distributions in Excess of Accumulated Earnings			Total Common Shareholders’ Equity			Noncontrolling Interests				Total Equity
Balance at January 1, 2021		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,046	)	$	1,441,314		$	607,239			$	2,048,553
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		44		—		697		—			—			697			(697	)			—
Cancellation of OP Units		—		—		—		—			—			—			(479	)			(479	)
Issuance of Common Shares		2,085		2		45,863		—			—			45,865			—				45,865
Dividends/distributions declared ($0.45 per Common Share/OP Unit)		—		—		—		—			(39,476	)		(39,476	)		(3,146	)			(42,622	)
Employee and trustee stock compensation, net		54		—		914		—			—			914			8,866				9,780
Noncontrolling interest distributions		—		—		—		—			—			—			(21,558	)			(21,558	)
Noncontrolling interest contributions		—		—		—		—			—			—			26,627				26,627
Comprehensive income		—		—		—		31,722			21,149			52,871			22,474				75,345
Reallocation of noncontrolling interests		—		—		2,809		—			—			2,809			(2,809	)			—
Balance at September 30, 2021		88,452	$	88	$	1,733,448	$	(43,169	)	$	(185,373	)	$	1,504,994		$	636,517			$	2,141,511
Adjustments
Balance at January 1, 2021		—	$	—	$	—	$	—		$	(275	)	$	(275	)	$	1,926			$	1,651
Noncontrolling interest distributions		—		—		—		—			—			—			1,400		(a)		1,400
Comprehensive loss		—		—		—		—			(614	)		(614	)		(1,959	)	(a,b)		(2,573	)
Total Adjustments		—	$	—	$	—	$	—		$	(889	)	$	(889	)	$	1,367			$	478
As Restated
Balance at January 1, 2021 Restated		86,269	$	86	$	1,683,165	$	(74,891	)	$	(167,321	)	$	1,441,039		$	609,165			$	2,050,204
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership		44		—		697		—			—			697			(697	)			—
Cancellation of OP Units		—		—		—		—			—			—			(479	)			(479	)
Issuance of Common Shares		2,085		2		45,863		—			—			45,865			—				45,865
Dividends/distributions declared ($0.45 per Common Share/OP Unit)		—		—		—		—			(39,476	)		(39,476	)		(3,146	)			(42,622	)
Employee and trustee stock compensation, net		54		—		914		—			—			914			8,866				9,780
Noncontrolling interest distributions		—		—		—		—			—			—			(20,158	)			(20,158	)
Noncontrolling interest contributions		—		—		—		—			—			—			26,627				26,627
Comprehensive income		—		—		—		31,722			20,535			52,257			20,515				72,772
Reallocation of noncontrolling interests		—		—		2,809		—			—			2,809			(2,809	)			—
Balance at September 30, 2021 - Restated		88,452	$	88	$	1,733,448	$	(43,169	)	$	(186,262	)	$	1,504,105		$	637,884			$	2,141,989


	Nine Months Ended September 30, 2021
(in thousands, unaudited)	As Reported			Adjustments				As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	34,648			(2,427	)		$	32,221
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		93,601			(2,357	)	(a)		91,244
Straight-line rents		(4,244	)		137		(a)		(4,107	)
Non-cash lease expense		2,887			—				2,887
Net unrealized holding gains on investments		(55,796	)		—				(55,796	)
Distributions of operating income from unconsolidated affiliates		2,004			—				2,004
Equity in (earnings) losses of unconsolidated affiliates		(4,013	)		860		(a)		(3,153	)
Stock compensation expense		9,780			—				9,780
Amortization of financing costs		3,901			(239	)	(a,b)		3,662
Impairment charges		9,925			—				9,925
Gain on disposition of properties		(10,521	)		—				(10,521	)
Allowance for credit loss		973			(200	)	(a)		773
Termination of ground lease		(3,615	)		—				(3,615	)
Adjustments to straight-line rent reserves		254			66		(a)		320
Other, net		(5,319	)		3,060		(a,b)		(2,259	)
Changes in assets and liabilities:
Other liabilities		1,833			(85	)	(a)		1,748
Lease liability - operating leases		(2,653	)		—				(2,653	)
Prepaid expenses and other assets		(5,579	)		(102	)	(a)		(5,681	)
Rents receivable		4,104			14		(a)		4,118
Accounts payable and accrued expenses		220			269		(a)		489
Net cash provided by operating activities		72,390			(1,004	)			71,386
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate		(63,425	)		—				(63,425	)
Development, construction and property improvement costs		(27,197	)		1,262		(a)		(25,935	)
Proceeds from the disposition of properties, net		63,901			—				63,901
Investments in and advances to unconsolidated affiliates and other		(6,111	)		(921	)	(a)		(7,032	)
Return of capital from unconsolidated affiliates and other		10,671			1,400		(a)		12,071
Issuance of notes receivable		(57,957	)		—				(57,957	)
Payment of deferred leasing costs		(3,509	)		318		(a)		(3,191	)
Net cash used in investing activities		(83,627	)		2,059				(81,568	)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes		(69,766	)		—				(69,766	)
Principal payments on unsecured debt		(160,387	)		—				(160,387	)
Proceeds received on mortgage and other notes		12,654			(2,990	)	(a)		9,664
Proceeds from unsecured debt		211,854			—				211,854
Payments of finance lease obligations		(63	)		—				(63	)
Proceeds from the sale (repurchase) of Common Shares		45,865			—				45,865
Capital contributions from noncontrolling interests		26,627			—				26,627
Distributions to noncontrolling interests		(23,781	)		1,400		(a)		(22,381	)
Dividends paid to Common Shareholders		(26,208	)		—				(26,208	)
Deferred financing and other costs		(7,296	)		—				(7,296	)
Net cash provided by financing activities		9,499			(1,590	)			7,909
Decrease in cash and restricted cash		(1,738	)		(535	)			(2,273	)
Cash of $18,699 and restricted cash of $11,096 beginning of period		33,924			(4,129	)			29,795
Cash of $16,158 and restricted cash of $11,364 end of period	$	32,186		$	(4,664	)		$	27,522

Earnings (Loss) Per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted


	Year Ended December 31,
(dollars in thousands)	2021			2020			2019
Numerator:				(As Restated)			(As Restated)
Net income (loss) attributable to Acadia	$	23,548		$	(8,976	)	$	53,717
Less: net income attributable to participating securities		(624	)		(233	)		(413	)
Income (loss) from continuing operations net of income attributable to participating securities	$	22,924		$	(9,209	)	$	53,304

Denominator:
Weighted average shares for basic earnings (loss) per share		87,653,818			86,441,922			84,435,826
Effect of dilutive securities:
Employee unvested restricted shares		—			—			—
Denominator for diluted earnings per share		87,653,818			86,441,922			84,435,826

Basic income (loss) and diluted earnings per Common Share from continuing operations attributable to Acadia	$	0.26		$	(0.11	)	$	0.63

Anti-Dilutive Shares Excluded from Denominator:
Series A Preferred OP Units		188			188			188
Series A Preferred OP Units - Common share equivalent		25,067			25,067			25,067

Series C Preferred OP Units		126,593			126,593			136,593
Series C Preferred OP Units - Common share equivalent		439,556			439,556			474,278
Restricted shares		70,827			76,394			40,821

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Property Segment $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($) $ / shares	Sep. 30, 2021 $ / shares	Jun. 30, 2021 $ / shares	Mar. 31, 2021 $ / shares	Sep. 30, 2020 $ / shares	Jun. 30, 2020 $ / shares	Mar. 31, 2020 $ / shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common shares, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Limited partnership to common stock conversion ratio	1.00%
Number of retail properties \| Property	186
Number of reportable segments \| Segment	3
Amount of goodwill recorded and acquisition costs capitalized	$ 0
Deferred Rent Receivables, Net	43,400	$ 40,200
Allowance for doubtful accounts receivable	38,500	45,000
Allowance for doubtful accounts receivable adjustments.	$ 100	46,400	$ 4,500
Percentage of distribute taxable income	90.00%
Percentage of taxable income.	100.00%
Net operating losses carried back, CARES Act		3,100
Tax refund on net operating loss carried back, CARES Act		$ 1,000
Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of taxable income offset by net operating loss carryforwards	80.00%
Buildings
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life	40 years
Building Improvements
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life	15 years
Furniture and fixtures \| Minimum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life	5 years
Furniture and fixtures \| Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life	10 years
Core Portfolio
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of retail properties \| Property	133
Properties owned percentage	100.00%
Opportunity Funds
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of retail properties \| Property	53
Operating Partnership, as General Partner or Managing Member
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining funds rate of distribution to operating partnership (in percent)	20.00%
Operating Partnership, as General Partner or Managing Member \| Acadia's OP Ownership
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held by Operating Partnership	95.00%	95.00%
Institutional Investors
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining funds rate of distribution to all partners (in percent)	80.00%

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Operating Partnership's Equity Interest (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Fund II and Mervyns II
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Operating Partnership Share of Capital	28.33%
Capital Called	$ 381.5
Unfunded Commitment	$ 3.8
Equity interest held by Operating Partnership	28.33%
Preferred Return	8.00%
Total Distributions	$ 169.8
Fund III
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Operating Partnership Share of Capital	24.54%
Capital Called	$ 448.1
Unfunded Commitment	$ 1.9
Equity interest held by Operating Partnership	24.54%
Preferred Return	6.00%
Total Distributions	$ 576.0
Fund IV
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Operating Partnership Share of Capital	23.12%
Capital Called	$ 488.1
Unfunded Commitment	$ 41.9
Equity interest held by Operating Partnership	23.12%
Preferred Return	6.00%
Total Distributions	$ 193.1
Fund V
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Operating Partnership Share of Capital	20.10%
Capital Called	$ 226.2
Unfunded Commitment	$ 293.8
Equity interest held by Operating Partnership	20.10%
Preferred Return	6.00%
Total Distributions	$ 51.4

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Operating Partnership's Equity Interest (Parenthetical) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Aug. 31, 2020	Dec. 31, 2021	Apr. 08, 2021
Mervyns II
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Recallable distributions	$ 15.7
Partners Capital Account Distributions Recalled Amount		$ 11.9
Mervyns II \| Acadia
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Recallable distributions	$ 4.5
Partners Capital Account Distributions Recalled Amount		$ 3.4
Fund V
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Investment Maturity Date			Aug. 25, 2022

Restatement (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Reduction in net income attributable	$ 200	$ 700
Per shares	$ 0.01	$ 0.01
Additional Reserves	$ 600
Note Receivable	100
Unsecured notes payable, net	420,858		$ 559,040
Mortgage and other notes payable, net	79,200
Operating Lease Right Of Use Asset	76,268	$ 60,000	40,743
Operating Lease Liability	$ 88,816	58,000	$ 38,759
Straight line rents		(5,200)
Allowance of credit loss		$ 2,700

Restatement of Previously Issued Consolidated Financial Statements - Schedule of Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

ASSETS

Operating real estate, net

$ 3,219,373

$ 3,190,761

Real estate under development

203,773

247,201

Net investments in real estate

3,423,146

3,437,962

Notes receivable, net

153,886

100,882

$ 114,943

$ 111,775

Investments in and advances to unconsolidated affiliates

322,326

272,829

Other assets, net

186,509

170,281

Right-of-use assets - operating leases, net

40,743

76,268

60,000

Cash and cash equivalents

17,746

$ 16,158

$ 33,079

$ 14,085

18,699

$ 15,345

$ 32,534

$ 22,315

14,149

20,074

Restricted cash

9,813

11,364

11,662

12,103

11,096

13,284

13,465

13,733

13,880

13,155

Rents receivable, net

43,625

43,052

Total Assets

4,261,746

^[1]

4,131,069

^[1]

4,251,695

LIABILITIES

Mortgage and other notes payable, net

1,140,293

1,148,586

Unsecured notes payable, net

559,040

420,858

Unsecured line of credit

112,905

138,400

Accounts payable and other liabilities

236,415

268,442

Lease liability - operating leases, net

38,759

88,816

58,000

Dividends and distributions payable

14,460

147

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

9,939

15,616

Total liabilities

2,111,811

2,080,865

Commitments and contingencies

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 89,303,545 and 86,268,303 shares, respectively

Additional paid-in capital

1,754,383

1,683,165

Accumulated other comprehensive loss

(36,214)

(74,891)

Distributions in excess of accumulated earnings

(196,645)

(167,321)

Total Acadia shareholders’ equity

1,521,613

1,441,039

Noncontrolling interests

628,322

609,165

Total equity

2,149,935

2,050,204

2,188,390

$ 2,082,757

Liabilities And Stockholders Equity

$ 4,261,746

4,131,069

Previously Reported

ASSETS

Operating real estate, net

3,268,573

3,201,172

3,238,031

3,260,139

3,347,431

3,368,557

3,331,043

3,355,913

Real estate under development

219,037

217,620

234,338

247,349

268,298

264,684

237,831

253,402

Net investments in real estate

3,487,610

3,418,792

3,472,369

3,507,488

3,615,729

3,633,241

3,568,874

3,609,315

Notes receivable, net

158,468

117,280

101,410

101,450

134,798

134,692

173,159

114,943

Investments in and advances to unconsolidated affiliates

305,668

258,063

256,332

249,807

240,414

250,825

294,195

305,097

Other assets, net

174,750

159,592

162,596

173,809

183,170

196,741

179,043

190,658

Right-of-use assets - operating leases, net

41,577

42,398

74,803

76,268

Cash and cash equivalents

17,359

34,645

15,424

19,232

16,108

34,273

23,404

15,845

Restricted cash

14,827

15,094

15,723

14,692

13,673

14,074

14,212

14,165

Rents receivable, net

44,386

43,748

46,356

44,136

47,516

64,902

52,251

59,091

Total Assets

4,244,645

4,089,612

4,153,682

4,186,882

4,251,408

4,328,748

4,305,138

4,309,114

LIABILITIES

Mortgage and other notes payable, net

1,181,028

1,162,617

1,188,695

1,125,356

1,159,688

1,161,577

1,170,622

1,170,076

Unsecured notes payable, net

503,966

440,088

420,960

500,083

502,500

472,507

480,658

477,320

Unsecured line of credit

102,905

61,405

105,400

138,400

127,400

177,400

174,700

60,800

Accounts payable and other liabilities

245,697

239,056

237,058

269,911

394,111

408,266

425,330

371,516

Lease liability - operating leases, net

39,743

40,861

87,910

88,816

Dividends and distributions payable

14,339

14,018

147

26,811

27,075

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

15,456

14,896

15,272

15,616

15,462

15,520

15,457

15,362

Total liabilities

2,103,134

1,973,262

2,069,313

2,138,329

2,199,308

2,235,417

2,293,578

2,122,149

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 89,303,545 and 86,268,303 shares, respectively

Additional paid-in capital

1,733,448

1,730,686

1,683,552

1,683,165

1,695,338

1,693,006

1,686,794

1,706,357

Accumulated other comprehensive loss

(43,169)

(47,909)

(41,962)

(74,891)

(85,873)

(90,209)

(85,715)

(31,175)

Distributions in excess of accumulated earnings

(185,373)

(184,174)

(174,829)

(167,046)

(156,321)

(147,291)

(166,701)

(132,961)

Total Acadia shareholders’ equity

1,504,994

1,498,691

1,466,847

1,441,314

1,453,230

1,455,592

1,434,464

1,542,308

Noncontrolling interests

636,517

617,659

617,522

607,239

598,870

637,739

577,096

644,657

Total equity

2,141,511

2,116,350

2,084,369

2,048,553

2,052,100

2,093,331

2,011,560

2,186,965

Liabilities And Stockholders Equity

4,244,645

4,089,612

4,153,682

4,186,882

4,251,408

4,328,748

4,305,138

4,309,114

Adjustments

ASSETS

Operating real estate, net

(69,334)

(69,819)

(70,111)

(69,378)

(69,825)

(69,895)

(67,995)

(127,888)

Real estate under development

(148)

(55)

(183)

(6)

Net investments in real estate

(69,334)

(69,819)

(70,111)

(69,526)

(69,880)

(70,078)

(68,001)

(127,894)

Notes receivable, net

(3,619)

(2,819)

(1,950)

(568)

Investments in and advances to unconsolidated affiliates

21,828

22,177

22,028

23,022

15,248

15,074

14,814

14,453

Other assets, net

(3,477)

(3,798)

(3,774)

(3,528)

(3,466)

(3,353)

(1,978)

(2,225)

Right-of-use assets - operating leases, net

60,006

Cash and cash equivalents

(1,201)

(1,566)

(1,339)

(533)

(763)

(1,739)

(1,089)

(1,696)

Restricted cash

(3,463)

(3,432)

(3,620)

(3,596)

(389)

(609)

(479)

(285)

Rents receivable, net

(1,094)

(1,062)

(1,159)

(1,084)

(322)

(756)

1,431

222

Total Assets

(60,360)

(60,319)

(59,925)

(55,813)

(59,572)

(61,461)

(55,302)

(57,419)

LIABILITIES

Mortgage and other notes payable, net

(59,205)

(59,021)

(59,003)

23,230

(59,560)

(58,622)

(57,592)

(57,551)

Unsecured notes payable, net

(79,225)

Unsecured line of credit

Accounts payable and other liabilities

(1,686)

(1,910)

(2,361)

(1,469)

(2,519)

(4,953)

(1,643)

(58,055)

Lease liability - operating leases, net

56,762

Dividends and distributions payable

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

Total liabilities

(60,838)

(60,931)

(61,364)

(57,464)

(62,079)

(63,575)

(59,235)

(58,844)

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 89,303,545 and 86,268,303 shares, respectively

Additional paid-in capital

Accumulated other comprehensive loss

(299)

Distributions in excess of accumulated earnings

(889)

(827)

(620)

(275)

(138)

Total Acadia shareholders’ equity

(889)

(827)

(620)

(275)

(138)

(348)

(357)

Noncontrolling interests

1,367

1,439

2,059

1,926

2,645

2,247

4,281

1,782

Total equity

478

612

1,439

1,651

2,507

2,114

3,933

1,425

Liabilities And Stockholders Equity

(60,360)

(60,319)

(59,925)

(55,813)

(59,572)

(61,461)

(55,302)

(57,419)

As Restated

ASSETS

Operating real estate, net

3,199,239

3,131,353

3,167,920

3,190,761

3,277,606

3,298,662

3,263,048

3,228,025

Real estate under development

219,037

217,620

234,338

247,201

268,243

264,501

237,825

253,396

Net investments in real estate

3,418,276

3,348,973

3,402,258

3,437,962

3,545,849

3,563,163

3,500,873

3,481,421

Notes receivable, net

154,849

114,461

99,460

100,882

134,798

134,692

173,159

114,943

Investments in and advances to unconsolidated affiliates

327,496

280,240

278,360

272,829

255,662

265,899

309,009

319,550

Other assets, net

171,273

155,794

158,822

170,281

179,704

193,388

177,065

188,433

Right-of-use assets - operating leases, net

41,577

42,398

74,803

76,268

60,006

Cash and cash equivalents

16,158

33,079

14,085

18,699

15,345

32,534

22,315

14,149

Restricted cash

11,364

11,662

12,103

11,096

13,284

13,465

13,733

13,880

Rents receivable, net

43,292

42,686

45,197

43,052

47,194

64,146

53,682

59,313

Total Assets

4,184,285

4,029,293

4,093,757

4,131,069

4,191,836

4,267,287

4,249,836

4,251,695

LIABILITIES

Mortgage and other notes payable, net

1,121,823

1,103,596

1,129,692

1,148,586

1,100,128

1,102,955

1,113,030

1,112,525

Unsecured notes payable, net

504,019

440,088

420,960

420,858

502,500

472,507

480,658

477,320

Unsecured line of credit

102,905

61,405

105,400

138,400

127,400

177,400

174,700

60,800

Accounts payable and other liabilities

244,011

237,146

234,697

268,442

391,592

403,313

423,687

313,461

Lease liability - operating leases, net

39,743

40,861

87,910

88,816

56,762

Dividends and distributions payable

14,339

14,018

147

26,811

27,075

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

15,456

14,896

15,272

15,616

15,462

15,520

15,457

15,362

Total liabilities

2,042,296

1,912,331

2,007,949

2,080,865

2,137,229

2,171,842

2,234,343

2,063,305

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 89,303,545 and 86,268,303 shares, respectively

Additional paid-in capital

1,733,448

1,730,686

1,683,552

1,683,165

1,695,338

1,693,006

1,686,794

1,706,357

Accumulated other comprehensive loss

(43,169)

(47,909)

(41,962)

(74,891)

(85,873)

(90,209)

(86,014)

(31,474)

Distributions in excess of accumulated earnings

(186,262)

(185,001)

(175,449)

(167,321)

(156,459)

(147,424)

(166,750)

(133,019)

Total Acadia shareholders’ equity

1,504,105

1,497,864

1,466,227

1,441,039

1,453,092

1,455,459

1,434,116

1,541,951

Noncontrolling interests

637,884

619,098

619,581

609,165

601,515

639,986

581,377

646,439

Total equity

2,141,989

2,116,962

2,085,808

2,050,204

2,054,607

2,095,445

2,015,493

2,188,390

Liabilities And Stockholders Equity

$ 4,184,285

$ 4,029,293

$ 4,093,757

$ 4,131,069

$ 4,191,836

$ 4,267,287

$ 4,249,836

$ 4,251,695

[1]	Real estate at cost and total assets for the Funds segment include $657.0 million and $641.7 million, or $190.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2021 and 2020, respectively.

Restatement of Previously Issued Consolidated Financial Statements - Schedule of Consolidated Balance (Parenthetical) (Details) - $ / shares	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Acadia Shareholders' Equity
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Common Stock Shares Authorized	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000
Common Stock Shares Issued	89,303,545	88,451,668	88,419,303	86,302,352	86,268,303	86,266,122	86,264,641	85,989,836	87,050,465
Common Stock Shares Outstanding	89,303,545	88,451,668	88,419,303	86,302,352	86,268,303	86,266,122	86,264,641	85,989,836	87,050,465

Restatement of Previously Issued Consolidated Financial Statements - Schedule of Condensed Income Statement (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Income Statements, Captions [Line Items]
Revenues												$ 292,497	$ 250,908	$ 289,585
Operating expenses
Depreciation and amortization												123,439	147,229	122,580
General and administrative												40,125	35,798	34,299
Real estate taxes												45,357	42,477	38,333
Property operating												53,516	55,551	49,898
Impairment charges												9,925	85,598	1,721
Total operating expenses												272,362	366,653	246,831
Gain on disposition of properties												10,521	683	30,324
Operating income												30,656	(115,062)	73,078
Equity in earnings of unconsolidated affiliates												5,330	(3,057)	5,899
Interest and other income												9,065	8,979	7,988
Realized and unrealized holding gains on investments and other												49,120	113,362	6,947
Interest expense												(68,048)	(69,671)	(69,213)
Income (loss) from continuing operations before income taxes												26,123	(65,449)	24,699
Income tax provision												(93)	(269)	(1,465)
Net income (loss)												26,030	(65,718)	23,234
Net (income) loss attributable to noncontrolling interests												2,482	(56,742)	(30,483)
Net income (loss) attributable to Acadia												23,548	(8,976)	53,717
Net income attributable to participating securities												624	233	413
Shares for basic and diluted income per share							86,972,000
Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues												285,898	246,432	285,470
Other
Condensed Income Statements, Captions [Line Items]
Revenues												$ 6,599	4,476	4,115
Previously Reported
Condensed Income Statements, Captions [Line Items]
Revenues	$ 73,446	$ 74,660	$ 69,394	$ 69,010	$ 51,281		$ 71,420	$ 144,054		$ 217,500	$ 186,474		255,484	295,327
Operating expenses
Depreciation and amortization	30,866	31,345	31,390	48,166	34,457	$ 33,793	33,377	62,735	$ 67,170	93,601	101,627		149,793	125,443
General and administrative	9,978	10,671	8,996	9,640	8,625	8,720	9,070	19,667	17,790	29,645	26,415		36,055	35,416
Real estate taxes	11,320	12,504	11,462	11,672	10,689	10,697	10,447	23,966	21,144	35,286	31,833		43,505	39,315
Property operating	12,698	12,890	13,477	14,910	11,559	16,806	13,320	26,367	30,126	39,065	41,685		56,595	51,153
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Total operating expenses	74,787	67,410	65,325	118,437	65,330	70,016	117,763	132,735	187,779	207,522	253,109		371,546	253,048
Gain on disposition of properties		5,909	4,612	174	24	485	0	10,521	485	10,521	509		683	30,324
Operating income	(1,341)	13,159	8,681	(49,253)	(14,025)	(5,758)	(46,343)	21,840	(52,101)	20,499	(66,126)		(115,379)	72,603
Equity in earnings of unconsolidated affiliates	644	1,106	2,263	(1,082)	(624)	(786)	1,255	3,369	469	4,013	(155)		(1,237)	8,922
Interest and other income													8,979	7,988
Realized and unrealized holding gains on investments and other	47,293	2,711	6,507	34,595	(7,946)	87,811	(530)	9,218	87,281	56,511	79,335		113,930	6,947
Interest expense	(17,334)	(17,605)	(17,141)	(17,687)	(17,752)	(18,319)	(18,302)	(34,746)	(36,621)	(52,080)	(54,373)		(72,060)	(73,788)
Income (loss) from continuing operations before income taxes	31,616	1,425	2,010	(31,604)	(38,215)	65,043	(60,991)	3,435	4,052	35,051	(34,163)		(65,767)	22,672
Income tax provision	(59)	(194)	(150)	(1,012)	(74)	(137)	952	(344)	815	(403)	741		(271)	(1,468)
Net income (loss)	31,557	1,231	1,860	(32,616)	(38,289)	64,906	(60,039)	3,091	4,867	34,648	(33,422)		(66,038)	21,204
Net (income) loss attributable to noncontrolling interests	(19,488)	2,687	3,302	21,891	29,259	(45,496)	51,625	5,989	6,129	(13,499)	35,388		57,279	31,841
Net income (loss) attributable to Acadia	12,069	3,918	5,162	(10,725)	(9,030)	19,410	(8,414)	9,080	10,996	21,149	1,966		(8,759)	53,045
Net income attributable to participating securities	$ 156	$ 156	$ 156	$ 0		$ 244		$ 312	$ 233	$ 468	$ 233		$ 233	$ 413
Shares for basic and diluted income per share	88,481	86,824	86,346	86,311,000	86,309	86,180	86,972,000	86,575	86,576	87,217	86,486		86,442	84,436
Basic loss per shares				$ (0.12)	$ (0.10)		$ (0.10)				$ 0.02		$ (0.10)	$ 0.62
Previously Reported \| Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues	$ 71,852	$ 73,666	$ 67,205	$ 67,606	$ 50,300	$ 62,639	$ 70,457	$ 140,871	$ 133,096	$ 212,723	$ 183,396		$ 251,002	$ 291,190
Previously Reported \| Other
Condensed Income Statements, Captions [Line Items]
Revenues	1,594	994	2,189	1,404	981	1,134	963	3,183	2,097	4,777	3,078		4,482	4,137
Adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(1,550)	(1,603)	(1,207)	(1,132)	(890)		675	(2,810)		(4,360)	(3,444)		(4,576)	(5,742)
Operating expenses
Depreciation and amortization	(802)	(805)	(750)	(722)	(697)	(416)	(729)	(1,555)	(1,145)	(2,357)	(1,842)		(2,564)	(2,863)
General and administrative	(68)	(18)	(4)	0	(210)	(38)	(9)	(22)	(47)	(90)	(257)		(257)	(1,117)
Real estate taxes	(292)	(290)	(256)	(263)	(261)	(252)	(252)	(546)	(504)	(838)	(765)		(1,028)	(982)
Property operating	(255)	(254)	(268)	(306)	(210)	(245)	(283)	(522)	(528)	(777)	(738)		(1,044)	(1,255)
Impairment charges		0	0	0		0	0	0	0		0		0	0
Total operating expenses	(1,417)	(1,367)	(1,278)	(1,291)	(1,378)	(951)	(1,273)	(2,645)	(2,224)	(4,062)	(3,602)		(4,893)	(6,217)
Gain on disposition of properties				0			0						0	0
Operating income	(133)	(236)	71	159	488	(2,278)	1,948	(165)	(330)	(298)	158		317	475
Equity in earnings of unconsolidated affiliates	(272)	(207)	(381)	(446)	(612)	(394)	(368)	(588)	(762)	(860)	(1,374)		(1,820)	(3,023)
Interest and other income													0	0
Realized and unrealized holding gains on investments and other	(800)	(869)	(1,382)	(568)				(2,251)		(3,051)			(568)	0
Interest expense	720	531	527	546	570	571	702	1,058	1,273	1,778	1,843		2,389	4,575
Income (loss) from continuing operations before income taxes	(485)	(781)	(1,165)	(309)	446	(2,101)	2,282	(1,946)	181	(2,431)	627		318	2,027
Income tax provision		2	2	0			2	4	2	4	2		2	3
Net income (loss)	(485)	(779)	(1,163)	(309)	446	(2,101)	2,284	(1,942)	183	(2,427)	629		320	2,030
Net (income) loss attributable to noncontrolling interests	423	572	818	172	(451)	2,017	(2,275)	1,390	(258)	1,813	(709)		(537)	(1,358)
Net income (loss) attributable to Acadia	(62)	(207)	(345)	(137)	(5)	(84)	9	(552)	(75)	(614)	(80)		(217)	672
Net income attributable to participating securities			$ 0	$ 0									$ 0	$ 0
Shares for basic and diluted income per share			0		0								0	0
Basic loss per shares				$ (0.01)									$ (0.01)	$ 0.01
Adjustments \| Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues	$ (1,550)	$ (1,597)	$ (1,207)	$ (1,138)	$ (890)	$ (3,218)	$ 676	$ (2,804)	$ (2,542)	$ (4,354)	$ (3,432)		$ (4,570)	$ (5,720)
Adjustments \| Other
Condensed Income Statements, Captions [Line Items]
Revenues		(6)	0	6		(11)	(1)	(6)	(12)	(6)	(12)		(6)	(22)
As Restated
Condensed Income Statements, Captions [Line Items]
Revenues	71,896	73,057	68,187	67,878	50,391		72,095	141,244		213,140	183,030		250,908	289,585
Operating expenses
Depreciation and amortization	30,064	30,540	30,640	47,444	33,760	33,377	32,648	61,180	66,025	91,244	99,785		147,229	122,580
General and administrative	9,910	10,653	8,992	9,640	8,415	8,682	9,061	19,645	17,743	29,555	26,158		35,798	34,299
Real estate taxes	11,028	12,214	11,206	11,409	10,428	10,445	10,195	23,420	20,640	34,448	31,068		42,477	38,333
Property operating	12,443	12,636	13,209	14,604	11,349	16,561	13,037	25,845	29,598	38,288	40,947		55,551	49,898
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Total operating expenses	73,370	66,043	64,047	117,146	63,952	69,065	116,490	130,090	185,555	203,460	249,507		366,653	246,831
Gain on disposition of properties		5,909	4,612	174	24	485	0	10,521	485	10,521	509		683	30,324
Operating income	(1,474)	12,923	8,752	(49,094)	(13,537)	(8,036)	(44,395)	21,675	(52,431)	20,201	(65,968)		(115,062)	73,078
Equity in earnings of unconsolidated affiliates	372	899	1,882	(1,528)	(1,236)	(1,180)	887	2,781	(293)	3,153	(1,529)		(3,057)	5,899
Interest and other income													8,979	7,988
Realized and unrealized holding gains on investments and other	46,493	1,842	5,125	34,027	(7,946)	87,811	(530)	6,967	87,281	53,460	79,335		113,362	6,947
Interest expense	(16,614)	(17,074)	(16,614)	(17,141)	(17,182)	(17,748)	(17,600)	(33,688)	(35,348)	(50,302)	(52,530)		(69,671)	(69,213)
Income (loss) from continuing operations before income taxes	31,131	644	845	(31,913)	(37,769)	62,942	(58,709)	1,489	4,233	32,620	(33,536)		(65,449)	24,699
Income tax provision	(59)	(192)	(148)	(1,012)	(74)	(137)	954	(340)	817	(399)	743		(269)	(1,465)
Net income (loss)	31,072	452	697	(32,925)	(37,843)	62,805	(57,755)	1,149	5,050	32,221	(32,793)		(65,718)	23,234
Net (income) loss attributable to noncontrolling interests	(19,065)	3,259	4,120	22,063	28,808	(43,479)	49,350	7,379	5,871	(11,686)	34,679		56,742	30,483
Net income (loss) attributable to Acadia	12,007	3,711	4,817	(10,862)	(9,035)	19,326	(8,405)	8,528	10,921	20,535	1,886		(8,976)	53,717
Net income attributable to participating securities	$ 156	$ 156	$ 156	$ 0		$ 244		$ 312	$ 233	$ 468	$ 233		$ 233	$ 413
Shares for basic and diluted income per share	88,481	86,824	86,346	86,311,000	86,309	86,180		86,575	86,576	87,217	86,486		86,442	84,436
Basic loss per shares				$ (0.13)	$ (0.10)		$ (0.10)				$ 0.02		$ (0.11)	$ 0.63
As Restated \| Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues	$ 70,302	$ 72,069	$ 65,998	$ 66,468	$ 49,410	$ 59,421	$ 71,133	$ 138,067	$ 130,554	$ 208,369	$ 179,964		$ 246,432	$ 285,470
As Restated \| Other
Condensed Income Statements, Captions [Line Items]
Revenues	$ 1,594	$ 988	$ 2,189	$ 1,410	$ 981	$ 1,123	$ 962	$ 3,177	$ 2,085	$ 4,771	$ 3,066		$ 4,476	$ 4,115

Restatement of Previously Issued Consolidated Financial Statements - Schedule of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended							6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Statement of Income Captions [Line Items]
Net income (loss)												$ 26,030	$ (65,718)	$ 23,234
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements												30,500	(73,686)	(35,883)
Reclassification of realized interest on swap agreements												(21,407)	(15,059)	870
Other comprehensive income (loss)												51,907	(58,627)	(36,753)
Comprehensive (loss) income												77,937	(124,345)	(13,519)
Comprehensive income (loss) attributable to Acadia												$ 62,225	(52,393)	21,727
Previously Reported
Condensed Statement of Income Captions [Line Items]
Net income (loss)	$ 31,557	$ 1,231	$ 1,860	$ (32,616)	$ (38,289)	$ 64,906	$ (60,039)	$ 3,091	$ 4,867	$ 34,648	$ (33,422)		(66,038)	21,204
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements	1,045	(10,073)	33,556		952	(8,621)	(74,774)	23,483	(83,395)	24,528	(82,444)		(74,236)	(35,674)
Reclassification of realized interest on swap agreements	5,528	5,324	5,317		5,506	3,115	977	10,641	4,092	16,169	9,598		15,203	(872)
Other comprehensive income (loss)	6,573	(4,749)	38,873		6,458	(5,506)	(73,797)	34,124	(79,303)	40,697	(72,846)		(59,033)	(36,546)
Comprehensive (loss) income	38,130	(3,518)	40,733		(31,831)	59,400	(133,836)	37,215	(74,436)	75,345	(106,268)		(125,071)	(15,342)
Comprehensive loss attributable to noncontrolling interests	(21,321)	1,489	(2,642)		27,137	(44,484)	70,882	(1,153)	26,398	(22,474)	53,536		72,596	36,696
Comprehensive income (loss) attributable to Acadia	16,809	(2,029)	38,091		(4,694)	14,916	(62,954)	36,062	(48,038)	52,871	(52,732)		(52,475)	21,354
Adjustments
Condensed Statement of Income Captions [Line Items]
Net income (loss)	(485)	(779)	(1,163)	(309)	446	(2,101)	2,284	(1,942)	183	(2,427)	629		320	2,030
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements	3	4	0		(3)	312	239	4	551	7	548		550	(209)
Reclassification of realized interest on swap agreements	(52)	(52)	(49)		(50)	(30)	(15)	(101)	(45)	(153)	(95)		(144)	2
Other comprehensive income (loss)	(49)	(48)	(49)		(53)	282	224	(97)	506	(146)	453		406	(207)
Comprehensive (loss) income	(534)	(827)	(1,212)		393	(1,819)	2,508	(2,039)	689	(2,573)	1,082		726	1,823
Comprehensive loss attributable to noncontrolling interests	472	620	867		(398)	2,034		1,487	(465)	1,959	(863)		(644)	(1,450)
Comprehensive income (loss) attributable to Acadia	(62)	(207)	(345)		(5)	215	9	(552)	224	(614)	219		82	373
As Restated
Condensed Statement of Income Captions [Line Items]
Net income (loss)	31,072	452	697	$ (32,925)	(37,843)	62,805	(57,755)	1,149	5,050	32,221	(32,793)		(65,718)	23,234
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements	1,048	(10,069)	33,556		949	(8,309)	(74,535)	23,487	(82,844)	24,535	(81,896)		(73,686)	(35,883)
Reclassification of realized interest on swap agreements	5,476	5,272	5,268		5,456	3,085	962	10,540	4,047	16,016	9,503		15,059	(870)
Other comprehensive income (loss)	6,524	(4,797)	38,824		6,405	(5,224)	(73,573)	34,027	(78,797)	40,551	(72,393)		(58,627)	(36,753)
Comprehensive (loss) income	37,596	(4,345)	39,521		(31,438)	57,581	(131,328)	35,176	(73,747)	72,772	(105,186)		(124,345)	(13,519)
Comprehensive loss attributable to noncontrolling interests	(20,849)	2,109	(1,775)		26,739	(42,450)	68,383	334	25,933	(20,515)	52,673		71,952	35,246
Comprehensive income (loss) attributable to Acadia	$ 16,747	$ (2,236)	$ 37,746		$ (4,699)	$ 15,131	$ (62,945)	$ 35,510	$ (47,814)	$ 52,257	$ (52,513)		$ (52,393)	$ 21,727

Restatement of Previously Issued Consolidated Financial Statements - Schedule of Stockholders Equity (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

Sep. 30, 2021

Sep. 30, 2020

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Balance

$ 2,050,204

$ 2,188,390

$ 2,050,204

$ 2,188,390

$ 2,050,204

$ 2,188,390

$ 2,149,935

$ 2,050,204

$ 2,188,390

$ 2,082,757

Balance (in Shares)

88,419,303

86,302,352

86,268,303

86,264,641

85,989,836

87,050,465

86,268,303

87,050,465

86,268,303

87,050,465

89,303,545

86,268,303

87,050,465

Issuance of Common Shares

$ 63,876

145,498

Noncontrolling interest distributions

(27,051)

$ (27,574)

(94,283)

Noncontrolling interest contributions

30,164

52,174

161,365

Comprehensive (loss) income

77,937

(124,345)

(13,519)

Acquisition Of Noncontrolling Interest

(588)

Repurchase of Common Shares

$ (22,400)

(22,386)

$ 0

Repurchase of Common Shares (in shares)

(1,219,065)

Common Shares

Balance

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 89

$ 86

$ 87

$ 82

Balance (in Shares)

86,269,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

89,304,000

86,269,000

87,050,000

81,557,000

Issuance of Common Shares (in Shares)

2,889,000

5,164,000

Issuance of Common Shares

$ 3

$ 5

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

90,000

408,000

308,000

Repurchase of Common Shares

$ (1)

Repurchase of Common Shares (in shares)

(1,219,000)

Employee and trustee stock compensation, net (in Shares)

56,000

30,000

21,000

Additional Paid-in Capital

Balance

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,754,383

$ 1,683,165

$ 1,706,357

$ 1,548,603

Issuance of Common Shares

63,873

145,493

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

1,431

6,544

5,104

Reallocation of noncontrolling interests

4,768

7,197

6,611

Repurchase of Common Shares

(22,385)

Accumulated Other Comprehensive Income (Loss)

Balance

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

(36,214)

(74,891)

(31,474)

516

Comprehensive (loss) income

38,677

(43,417)

(31,990)

Distributions in Excess of Accumulated Earnings

Balance

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(196,645)

(167,321)

(133,019)

(90,426)

Comprehensive (loss) income

23,548

(8,976)

53,717

Total Common Shareholders' Equity

Balance

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,521,613

1,441,039

1,541,951

1,458,775

Issuance of Common Shares

63,876

145,498

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

1,431

6,544

5,104

Comprehensive (loss) income

62,225

(52,393)

21,727

Reallocation of noncontrolling interests

4,768

7,197

6,611

Repurchase of Common Shares

(22,386)

Noncontrolling Interests

Balance

609,165

646,439

609,165

646,439

609,165

646,439

$ 628,322

609,165

646,439

623,982

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(1,431)

(6,544)

(5,104)

Noncontrolling interest distributions

(27,051)

(27,574)

(94,283)

Noncontrolling interest contributions

30,164

52,174

161,365

Comprehensive (loss) income

15,712

(71,952)

(35,246)

Reallocation of noncontrolling interests

(4,768)

(7,197)

(6,611)

^[1]

Acquisition Of Noncontrolling Interest

15,918

Cumulative Effect Period Of Adoption Adjustment [Member]

Balance

(400)

Cumulative Effect Period Of Adoption Adjustment [Member] | Distributions in Excess of Accumulated Earnings

Balance

(389)

Cumulative Effect Period Of Adoption Adjustment [Member] | Total Common Shareholders' Equity

Balance

(389)

Cumulative Effect Period Of Adoption Adjustment [Member] | Noncontrolling Interests

Balance

(11)

Previously Reported [Member]

Balance

$ 2,116,350

$ 2,084,369

2,048,553

$ 2,093,331

$ 2,011,560

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

Balance (in Shares)

2,084,369

Issuance of Common Shares

189

45,677

45,865

Noncontrolling interest distributions

(10,527)

$ (4,355)

(6,676)

(20,117)

(1,418)

(3,118)

(11,031)

(4,536)

(21,558)

(24,654)

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Comprehensive (loss) income

38,130

(3,518)

40,733

(31,831)

59,400

(133,836)

37,215

(74,436)

75,345

(106,268)

(125,071)

(15,342)

Reallocation of noncontrolling interests

Cumulative effect of change in accounting principle

(400)

Acquisition Of Noncontrolling Interest

588

(588)

Repurchase of Common Shares

(45,677)

(34)

(22,352)

(22,386)

Previously Reported [Member] | Common Shares

Balance

$ 88

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

Balance (in Shares)

88,419,000

86,302,000

86,269,000

86,265,000

85,990,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

Issuance of Common Shares (in Shares)

2,072

2,085

Issuance of Common Shares

$ 2

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

260

148

408

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Repurchase of Common Shares

$ 2

$ (1)

Repurchase of Common Shares (in shares)

2,072

(1,219)

Employee and trustee stock compensation, net (in Shares)

Previously Reported [Member] | Additional Paid-in Capital

Balance

$ 1,730,686

$ 1,683,552

$ 1,683,165

$ 1,693,006

$ 1,686,794

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

Balance (in Shares)

1,683,552

Issuance of Common Shares

189

45,675

45,863

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

$ 115

294

4,072

2,472

409

6,544

697

6,544

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Repurchase of Common Shares

45,675

(34)

(22,351)

(22,385)

Previously Reported [Member] | Accumulated Other Comprehensive Income (Loss)

Balance

(47,909)

$ (41,962)

(74,891)

(90,209)

(85,715)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

Balance (in Shares)

(41,962)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Comprehensive (loss) income

4,740

$ (5,947)

32,929

4,336

(4,494)

(54,540)

26,982

(59,034)

31,722

(54,698)

Reallocation of noncontrolling interests

Repurchase of Common Shares

Previously Reported [Member] | Distributions in Excess of Accumulated Earnings

Balance

(184,174)

$ (174,829)

(167,046)

(147,291)

(166,701)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

Balance (in Shares)

(174,829)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Comprehensive (loss) income

12,069

$ 3,918

5,162

(9,030)

19,410

(8,414)

9,080

10,996

21,149

1,966

Reallocation of noncontrolling interests

Cumulative effect of change in accounting principle

(389)

Repurchase of Common Shares

Previously Reported [Member] | Total Common Shareholders' Equity

Balance

1,498,691

$ 1,466,847

1,441,314

1,455,592

1,434,464

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

Balance (in Shares)

1,466,847

Issuance of Common Shares

189

45,677

45,865

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

$ 115

294

4,072

2,472

409

6,544

697

6,544

Comprehensive (loss) income

16,809

(2,029)

38,091

(4,694)

14,916

(62,954)

36,062

(48,038)

52,871

(52,732)

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Cumulative effect of change in accounting principle

(389)

Repurchase of Common Shares

(45,677)

(34)

(22,352)

(22,386)

Previously Reported [Member] | Noncontrolling Interests

Balance

617,659

$ 617,522

607,239

637,739

577,096

644,657

607,239

644,657

607,239

644,657

607,239

644,657

Balance (in Shares)

617,522

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(288)

$ (115)

(294)

(4,072)

(2,472)

(409)

(6,544)

(697)

(6,544)

Noncontrolling interest distributions

10,527

4,355

6,676

20,117

1,418

3,118

11,031

4,536

21,558

24,654

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Comprehensive (loss) income

21,321

(1,489)

2,642

(27,137)

44,484

(70,882)

1,153

(26,398)

22,474

(53,536)

Reallocation of noncontrolling interests

(2,060)

(1,119)

369

(2,100)

(1,999)

(145)

(750)

(2,144)

(2,809)

(4,244)

Cumulative effect of change in accounting principle

(11)

Acquisition Of Noncontrolling Interest

588

Repurchase of Common Shares

Previously Reported [Member] | Cumulative Effect Period Of Adoption Adjustment [Member]

Balance

2,048,553

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

2,081,947

Issuance of Common Shares

145,498

Noncontrolling interest distributions

(27,574)

(94,289)

Noncontrolling interest contributions

52,674

161,628

Comprehensive (loss) income

(125,071)

(15,342)

Cumulative effect of change in accounting principle

(400)

Acquisition Of Noncontrolling Interest

588

Repurchase of Common Shares

(22,386)

Dividends/distributions declared

(27,155)

(103,434)

Employee and trustee stock compensation, net

10,912

10,957

Previously Reported [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Common Shares

Balance

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 82

Balance (in Shares)

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

81,557

Issuance of Common Shares (in Shares)

5,164

Issuance of Common Shares

$ 5

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

408

308

Repurchase of Common Shares

$ (1)

Repurchase of Common Shares (in shares)

(1,219)

Employee and trustee stock compensation, net (in Shares)

30,000

Previously Reported [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Additional Paid-in Capital

Balance

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,548,603

Issuance of Common Shares

145,493

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Reallocation of noncontrolling interests

7,197

6,611

Acquisition Of Noncontrolling Interest

(15,330)

Repurchase of Common Shares

(22,385)

Employee and trustee stock compensation, net

782

546

Previously Reported [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Accumulated Other Comprehensive Income (Loss)

Balance

(74,891)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

516

Comprehensive (loss) income

(43,716)

(31,691)

Reallocation of noncontrolling interests

Previously Reported [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Distributions in Excess of Accumulated Earnings

Balance

(167,046)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

(89,696)

Comprehensive (loss) income

(8,759)

53,045

Reallocation of noncontrolling interests

Cumulative effect of change in accounting principle

(389)

Dividends/distributions declared

(24,937)

(96,310)

Previously Reported [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Total Common Shareholders' Equity

Balance

1,441,314

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

1,459,505

Issuance of Common Shares

145,498

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Comprehensive (loss) income

(52,475)

21,354

Reallocation of noncontrolling interests

7,197

6,611

Cumulative effect of change in accounting principle

(389)

Acquisition Of Noncontrolling Interest

(15,330)

Repurchase of Common Shares

(22,386)

Dividends/distributions declared

(24,937)

(96,310)

Employee and trustee stock compensation, net

782

546

Previously Reported [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Noncontrolling Interests

Balance

607,239

644,657

607,239

644,657

607,239

644,657

607,239

644,657

622,442

Issuance of Common Shares

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(6,544)

(5,104)

Noncontrolling interest distributions

(27,574)

(94,289)

Noncontrolling interest contributions

52,674

161,628

Comprehensive (loss) income

(72,596)

(36,696)

Reallocation of noncontrolling interests

(7,197)

(6,611)

Cumulative effect of change in accounting principle

(11)

Acquisition Of Noncontrolling Interest

15,918

Repurchase of Common Shares

Dividends/distributions declared

(2,218)

(7,124)

Employee and trustee stock compensation, net

10,130

10,411

Revision of Prior Period, Adjustment [Member]

Balance

612

1,439

1,651

2,114

3,933

1,425

1,651

1,425

1,651

1,425

1,651

1,425

Noncontrolling interest distributions

(400)

(1,000)

(1,400)

Comprehensive (loss) income

(534)

(827)

(1,212)

393

(1,819)

2,508

(2,039)

689

(2,573)

1,082

726

1,823

Revision of Prior Period, Adjustment [Member] | Common Shares

Balance

Balance (in Shares)

Revision of Prior Period, Adjustment [Member] | Additional Paid-in Capital

Balance

Revision of Prior Period, Adjustment [Member] | Accumulated Other Comprehensive Income (Loss)

Balance

(299)

Comprehensive (loss) income

299

Revision of Prior Period, Adjustment [Member] | Distributions in Excess of Accumulated Earnings

Balance

(827)

(620)

(275)

(133)

(58)

(275)

(58)

(275)

(58)

(275)

(58)

Comprehensive (loss) income

(62)

(207)

(345)

(5)

(552)

(75)

(614)

(80)

Revision of Prior Period, Adjustment [Member] | Total Common Shareholders' Equity

Balance

(827)

(620)

(275)

(133)

(348)

(357)

(275)

(357)

(275)

(357)

(275)

(357)

Comprehensive (loss) income

(62)

(207)

(345)

(5)

215

(552)

224

(614)

219

Revision of Prior Period, Adjustment [Member] | Noncontrolling Interests

Balance

1,439

2,059

1,926

2,247

4,281

1,782

1,926

1,782

1,926

1,782

1,926

1,782

Noncontrolling interest distributions

(400)

(1,000)

(1,400)

Comprehensive (loss) income

(472)

(620)

(867)

398

(2,034)

2,499

(1,487)

465

(1,959)

863

Revision of Prior Period, Adjustment [Member] | Cumulative Effect Period Of Adoption Adjustment [Member]

Balance

1,651

1,425

1,651

1,425

1,651

1,425

1,651

1,425

810

Noncontrolling interest distributions

500

(6)

Noncontrolling interest contributions

(263)

Comprehensive (loss) income

726

1,823

Employee and trustee stock compensation, net

(951)

Revision of Prior Period, Adjustment [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Accumulated Other Comprehensive Income (Loss)

Balance

(299)

Comprehensive (loss) income

299

(299)

Revision of Prior Period, Adjustment [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Distributions in Excess of Accumulated Earnings

Balance

(275)

(58)

(275)

(58)

(275)

(58)

(275)

(58)

(730)

Comprehensive (loss) income

(217)

672

Revision of Prior Period, Adjustment [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Total Common Shareholders' Equity

Balance

(275)

(357)

(275)

(357)

(275)

(357)

(275)

(357)

(730)

Comprehensive (loss) income

373

Revision of Prior Period, Adjustment [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Noncontrolling Interests

Balance

1,926

1,782

1,926

1,782

1,926

1,782

1,926

1,782

1,540

Noncontrolling interest distributions

500

(6)

Noncontrolling interest contributions

(263)

Comprehensive (loss) income

644

1,450

Employee and trustee stock compensation, net

(951)

As Restated [Member]

Balance

2,116,962

2,085,808

2,050,204

2,095,445

2,015,493

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

Issuance of Common Shares

189

45,677

45,865

Noncontrolling interest distributions

(10,127)

(4,355)

(5,676)

(20,117)

(1,418)

(3,118)

(10,031)

(4,536)

(20,158)

(24,654)

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Comprehensive (loss) income

37,596

(4,345)

39,521

(31,438)

57,581

(131,328)

35,176

(73,747)

72,772

(105,186)

(124,345)

(13,519)

Cumulative effect of change in accounting principle

(400)

Acquisition Of Noncontrolling Interest

588

(588)

Repurchase of Common Shares

(34)

(22,352)

(22,386)

As Restated [Member] | Common Shares

Balance

$ 88

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

Balance (in Shares)

88,419,000

86,302,000

86,269,000

86,265,000

85,990,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

Issuance of Common Shares (in Shares)

2,072

2,085

Issuance of Common Shares

$ 2

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

260

148

408

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

$ 408

Repurchase of Common Shares

$ (1)

Repurchase of Common Shares (in shares)

(1,219)

Employee and trustee stock compensation, net (in Shares)

As Restated [Member] | Additional Paid-in Capital

Balance

$ 1,730,686

$ 1,683,552

$ 1,683,165

$ 1,693,006

$ 1,686,794

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

Issuance of Common Shares

189

45,675

45,863

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

115

294

4,072

2,472

409

6,544

697

6,544

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Repurchase of Common Shares

(34)

(22,351)

(22,385)

As Restated [Member] | Accumulated Other Comprehensive Income (Loss)

Balance

(47,909)

(41,962)

(74,891)

(90,209)

(86,014)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Comprehensive (loss) income

4,740

(5,947)

32,929

4,336

(4,195)

(54,540)

26,982

(58,735)

31,722

(54,399)

Repurchase of Common Shares

As Restated [Member] | Distributions in Excess of Accumulated Earnings

Balance

(185,001)

(175,449)

(167,321)

(147,424)

(166,750)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Comprehensive (loss) income

12,007

3,711

4,817

(9,035)

19,326

(8,405)

8,528

10,921

20,535

1,886

Cumulative effect of change in accounting principle

(389)

Repurchase of Common Shares

As Restated [Member] | Total Common Shareholders' Equity

Balance

1,497,864

1,466,227

1,441,039

1,455,459

1,434,116

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

Issuance of Common Shares

189

45,677

45,865

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

115

294

4,072

2,472

409

6,544

697

6,544

Comprehensive (loss) income

16,747

(2,236)

37,746

(4,699)

15,131

(62,945)

35,510

(47,814)

52,257

(52,513)

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Cumulative effect of change in accounting principle

(389)

Repurchase of Common Shares

(34)

(22,352)

(22,386)

As Restated [Member] | Noncontrolling Interests

Balance

619,098

619,581

609,165

639,986

581,377

646,439

609,165

646,439

609,165

646,439

609,165

646,439

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(288)

(115)

(294)

(4,072)

(2,472)

(409)

(6,544)

(697)

(6,544)

Noncontrolling interest distributions

10,127

4,355

5,676

20,117

1,418

3,118

10,031

4,536

20,158

24,654

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Comprehensive (loss) income

20,849

(2,109)

1,775

(26,739)

42,450

(68,383)

(334)

(25,933)

20,515

(52,673)

Reallocation of noncontrolling interests

$ (2,060)

$ (1,119)

369

$ (2,100)

(1,999)

(145)

(750)

(2,144)

(2,809)

(4,244)

Cumulative effect of change in accounting principle

(11)

Acquisition Of Noncontrolling Interest

$ 588

588

Repurchase of Common Shares

As Restated [Member] | Cumulative Effect Period Of Adoption Adjustment [Member]

Balance

2,050,204

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

2,082,757

Issuance of Common Shares

145,498

Noncontrolling interest distributions

(27,574)

(94,283)

Noncontrolling interest contributions

52,174

161,365

Comprehensive (loss) income

(13,519)

Net Income (Loss)

(124,345)

Cumulative effect of change in accounting principle

(400)

Acquisition Of Noncontrolling Interest

588

Repurchase of Common Shares

(22,386)

Dividends/distributions declared

(27,155)

(103,434)

Employee and trustee stock compensation, net

10,912

10,006

As Restated [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Common Shares

Balance

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 82

Balance (in Shares)

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

81,557

Issuance of Common Shares (in Shares)

5,164

Issuance of Common Shares

$ 5

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

408

308

Repurchase of Common Shares

$ 1

Repurchase of Common Shares (in shares)

1,219

Employee and trustee stock compensation, net (in Shares)

As Restated [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Additional Paid-in Capital

Balance

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,548,603

Issuance of Common Shares

145,493

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Reallocation of noncontrolling interests

7,197

6,611

Acquisition Of Noncontrolling Interest

(15,330)

Repurchase of Common Shares

(22,385)

Employee and trustee stock compensation, net

782

546

As Restated [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Accumulated Other Comprehensive Income (Loss)

Balance

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

516

Comprehensive (loss) income

(43,417)

(31,990)

As Restated [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Distributions in Excess of Accumulated Earnings

Balance

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(90,426)

Comprehensive (loss) income

53,717

Net Income (Loss)

(8,976)

Cumulative effect of change in accounting principle

(389)

Dividends/distributions declared

(24,937)

(96,310)

As Restated [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Total Common Shareholders' Equity

Balance

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,458,775

Issuance of Common Shares

145,498

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Comprehensive (loss) income

21,727

Net Income (Loss)

(52,393)

Reallocation of noncontrolling interests

7,197

6,611

Cumulative effect of change in accounting principle

(389)

Acquisition Of Noncontrolling Interest

(15,330)

Repurchase of Common Shares

(22,386)

Dividends/distributions declared

(24,937)

(96,310)

Employee and trustee stock compensation, net

782

546

As Restated [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Noncontrolling Interests

Balance

$ 609,165

646,439

$ 609,165

$ 646,439

$ 609,165

646,439

$ 609,165

646,439

623,982

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(6,544)

(5,104)

Noncontrolling interest distributions

(27,574)

(94,283)

Noncontrolling interest contributions

52,174

161,365

Comprehensive (loss) income

(35,246)

Net Income (Loss)

(71,952)

Reallocation of noncontrolling interests

(7,197)

(6,611)

Cumulative effect of change in accounting principle

$ (11)

(11)

Acquisition Of Noncontrolling Interest

15,918

Repurchase of Common Shares

Dividends/distributions declared

2,218

(7,124)

Employee and trustee stock compensation, net

$ 10,130

$ 9,460

[1]	Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.

Restatement of Previously Issued Consolidated Financial Statements - Schedule of Stockholders Equity (Parenthetical) (Details) - $ / shares	3 Months Ended								6 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash dividends declared per common share (in dollars per share)	$ 0.15							$ 0.29					$ 0.60	$ 0.29	$ 1.13
Previously Reported [Member]
Cash dividends declared per common share (in dollars per share)		$ 0.15	$ 0.15	$ 0.15	$ 0.00	$ 0.00	$ 0.29		$ 0.30	$ 0.29	$ 0.45	$ 0.29		$ 0.29	1.13
As Restated [Member]
Cash dividends declared per common share (in dollars per share)		$ 0.15	$ 0.15	$ 0.15	$ 0.00	$ 0.00	$ 0.29		$ 0.30	$ 0.29	$ 0.45	$ 0.29			$ 1.13

Restatement of Previously Issued Consolidated Financial Statements - Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended							6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)												$ 26,030	$ (65,718)	$ 23,234
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization												123,439	147,229	122,580
Straight-line rents												(6,726)	(4,869)	(4,185)
Noncash lease expense												3,721	3,392	0
Net unrealized holding gains on investments												(51,925)	(72,391)	0
Distributions Of Operating Income From Unconsolidated Affiliates												3,828	3,286	11,273
Equity in (earnings) losses of unconsolidated affiliates												(5,330)	3,057	(5,899)
Stock compensation expense												12,430	10,912	10,006
Amortization Of Financing Costs												4,396	5,038	6,718
Impairment charges												9,925	85,598	1,721
Gain on disposition of properties												(10,521)	(683)	(30,324)
Allowance for credit loss												(2,796)	24,569	2,742
Adjustments To Straight Line Rent Reserves												2,682	21,871	1,961
Gain on debt extinguishment												0	18,339	0
Deferred Gain Loss On Tax Credits												0	0	5,034
Other, net												(5,304)	(8,155)	(11,575)
Changes in assets and liabilities:
Other liabilities												7,856	(3,959)	(4,850)
Lease liability - operating leases												(3,636)	(1,579)	2,014
Prepaid expenses and other assets												(7,427)	4	8,206
Rents receivable												7,384	(28,321)	1,089
Accounts payable and accrued expenses												572	3,005	1,705
Net cash provided by operating activities												104,983	103,947	131,382
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate												(161,846)	(21,208)	(319,673)
Development, construction and property improvement costs												(40,671)	(36,579)	(89,385)
Proceeds from the disposition of properties, net												63,901	20,930	88,738
Investments In And Advances To Unconsolidated Affiliates And Other												14,835	14,483	164,922
Return Of Capital From Unconsolidated Affiliates And Other												17,722	14,686	106,005
Issuance of notes receivable												(57,895)	(59,000)	(3,608)
Return of deposits for properties under contract												0	187	2,870
Payment of deferred leasing costs												(4,914)	(6,407)	(6,782)
Change in control of previously unconsolidated affiliate												0	950	0
Net cash used in investing activities												(198,538)	(100,924)	(410,538)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes												(98,602)	(51,949)	(158,211)
Principal payments on unsecured debt												(206,781)	(136,490)	(521,600)
Proceeds received on mortgage and other notes												56,847	5,351	324,995
Proceeds from unsecured debt												323,200	236,804	526,400
Payments of finance lease obligations												(63)	(903)	(2,749)
Proceeds from the sale (repurchase) of Common Shares												63,876	(22,386)	145,498
Capital contributions from noncontrolling interests												30,164	52,174	161,365
Distributions to noncontrolling interests												(30,410)	(31,461)	(101,364)
Dividends paid to Common Shareholders												(39,476)	(50,182)	(93,902)
Deferred financing and other costs												(7,436)	(2,215)	(6,476)
Net cash used in financing activities												91,319	(1,257)	273,956
Increase in cash and restricted cash												(2,236)	1,766	(5,200)
Cash of $14,149 and restricted cash of $13,880 beginning of period				$ 29,795								27,559	29,795	28,029	$ 33,229
Cash of $18,699 and restricted cash of $11,096 end of period				29,795								27,559	29,795	28,029	33,229
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $3,421												44,663	70,383	69,076
Cash paid for income taxes, net of (refunds)												147	(329)	730
Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL												0	400	0
Assumption of accounts payable and accrued expenses through acquisition of real estate												1,319	116	4,666
Notes Receivable Exchanged For Real Estate												0	72,430	13,530
Acquisition Of Real Estate Through Assumption Of Debt												31,801	0	0
Distribution declared and payable												14,314	123	26,914
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities												0	(70,427)	16,349
Right Of Use Assets Finance Leases Obtained In Exchange For Assets Under Capital Lease												0	0	76,965
Right-of-use assets, operating leases exchanged for operating lease liabilities												412	33,189	57,165
Capital Lease Obligation Exchanged For Finance Lease Liability												0	0	71,111
Other Liabilities Exchanged For Operating Lease Liabilities												0	0	946
Assumption Of Debt Through Investments In Unconsolidated Affiliates												0	0	4,688
Debt Exchanged For Deferred Gain On Tax Credits												0	0	(5,262)
Other Assets Exchanged For Deferred Gain On Tax Credits												0	0	228
Settlement Of Note Receivable Through Cancellation Of OP Units												479	0	0
Change In Control Of Previously Unconsolidated Consolidated Investment [Abstract]
Increase in real estate												0	(135,190)	828
Decrease in investments in and advances to unconsolidated affiliates												0	96,816	(1,189)
Change in other assets and liabilities												0	1,238	12
Acquisition of noncontrolling interest asset												0	(588)	0
Decrease in notes receivable												0	38,674	0
Decrease in right-of-use assets, finance leases												0	0	11,051
Decrease in finance lease liability												0	0	(10,702)
Increase in cash and restricted cash upon change of control												$ 0	950	0
Previously Reported
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 31,557	$ 1,231	$ 1,860	(32,616)	$ (38,289)	$ 64,906	$ (60,039)	$ 3,091	$ 4,867	$ 34,648	$ (33,422)		(66,038)	21,204
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			31,390				33,377	62,735	67,170	93,601	101,627		149,793	125,443
Straight-line rents			1,128					2,765		4,244			5,096	0
Noncash lease expense			1,041					2,066		2,887			3,392
Net unrealized holding gains on investments			(6,135)					(8,565)	(64,937)	(55,796)	(57,031)		(72,391)
Distributions Of Operating Income From Unconsolidated Affiliates			390				1,898	1,387	2,206	2,004	2,829		3,286	11,273
Equity in (earnings) losses of unconsolidated affiliates	(644)	(1,106)	(2,263)	1,082	624	786	(1,255)	(3,369)	(469)	(4,013)	155		1,237	(8,922)
Stock compensation expense			4,511				3,819	7,135	6,136	9,780	8,551		10,912	10,957
Amortization Of Financing Costs			1,269				1,763	2,546	2,920	3,901	4,040		5,169	7,577
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Gain on disposition of properties		(5,909)	(4,612)	(174)	(24)	(485)	0	(10,521)	(485)	(10,521)	(509)		(683)	(30,324)
Allowance for credit loss			3,065					1,238		973			24,770	0
Adjustments To Straight Line Rent Reserves			817					511		254			22,074	0
Gain on debt extinguishment													(18,339)
Deferred Gain Loss On Tax Credits														(5,034)
Other, net			2,312				1,107	4,127	2,780	5,319	2,923		(8,753)	(11,627)
Changes in assets and liabilities:
Other liabilities			3,847				(6,844)	3,114	(6,684)	1,833	(7,736)		(4,208)	(4,466)
Lease liability - operating leases			(494)					(1,533)		(2,653)			(1,579)
Prepaid expenses and other assets			(1,859)				(2,107)	487	4,213	5,579	1,435		32	8,198
Rents receivable			2,408				(24)	(2,801)	25,177	(4,104)	31,511		(29,810)	(455)
Accounts payable and accrued expenses			237				(2,327)	(609)	12,222	220	7,015		3,199	1,632
Net cash provided by operating activities			30,934				27,735	51,033	58,500	72,390	81,081		102,565	127,177
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate							(19,088)		(21,208)	(63,425)	(21,208)		(21,208)	(319,673)
Acquisition of leasehold interests														39,031
Development, construction and property improvement costs			(5,425)				(13,333)	(16,620)	(20,533)	(27,197)	(27,949)		(40,483)	(89,270)
Proceeds from the disposition of properties, net			15,703				0	63,901	13,925	63,901	14,182		20,930	88,738
Investments In And Advances To Unconsolidated Affiliates And Other			(1,725)				(1,525)	(3,976)	(3,270)	(6,111)	(3,662)		(4,291)	(151,281)
Return Of Capital From Unconsolidated Affiliates And Other			4,377				5,024	7,717	7,151	10,671	9,054		14,686	105,999
Issuance of notes receivable							(59,000)	(15,995)	(59,000)	(57,957)	(59,000)		(59,000)	(3,608)
Proceeds from notes receivable														15,250
Return of deposits for properties under contract							200	(1,000)	187		187		187	2,870
Payment of deferred leasing costs			(1,438)				(2,763)	(3,080)	(4,885)	(3,509)	(5,422)		(7,979)	(7,051)
Change in control of previously unconsolidated affiliate													950
Net cash used in investing activities			11,492				(90,485)	30,947	(86,683)	(83,627)	(92,868)		(96,208)	(397,057)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes			(20,406)				(1,488)	(52,408)	(14,360)	(69,766)	(18,981)		(55,449)	(168,211)
Principal payments on unsecured debt			(33,250)				(5,000)	(102,800)	(69,930)	(160,387)	(123,750)		(136,490)	(521,600)
Proceeds received on mortgage and other notes			3,809				689	8,818	3,340	12,654	5,523		7,261	326,268
Proceeds from unsecured debt			536				122,245	49,295	181,700	211,854	215,554		236,804	526,400
Payments of finance lease obligations							(625)		(833)	(63)	(903)		(903)	(2,749)
Proceeds from the sale (repurchase) of Common Shares							(22,352)	45,675	(22,386)	45,865	(22,386)		(22,386)	145,498
Capital contributions from noncontrolling interests			11,241				7,268	17,109	28,309	26,627	36,736		52,674	161,628
Distributions to noncontrolling interests			(6,800)				(4,914)	(12,202)	(8,178)	(23,781)	(28,418)		(31,461)	(101,370)
Dividends paid to Common Shareholders							(25,245)	(12,945)	(50,182)	(26,208)	(50,182)		(50,182)	(93,902)
Deferred financing and other costs			(333)				(222)	(6,707)	(960)	(7,296)	(1,635)		(2,311)	(6,920)
Net cash used in financing activities			(45,203)				70,356	(66,165)	46,520	9,499	11,558		(2,443)	265,042
Increase in cash and restricted cash			(2,777)				7,606	15,815	18,337	(1,738)	(229)		3,914	(4,838)
Cash of $14,149 and restricted cash of $13,880 beginning of period	32,186	49,739	31,147	33,924	29,781	48,347	37,616	49,739	48,347	32,186	29,781		33,924	30,010	34,848
Cash of $18,699 and restricted cash of $11,096 end of period	32,186	49,739	31,147	33,924	29,781	48,347	37,616	49,739	48,347	32,186	29,781		33,924	30,010	34,848
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $3,421													72,392	53,586
Cash paid for income taxes, net of (refunds)													(329)	730
Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL													400	0
Assumption of accounts payable and accrued expenses through acquisition of real estate													116	4,666
Notes Receivable Exchanged For Real Estate													72,430	13,530
Acquisition Of Real Estate Through Assumption Of Debt													0	0
Distribution declared and payable													0
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities													(70,427)	16,349
Right Of Use Assets Finance Leases Obtained In Exchange For Assets Under Capital Lease													0	76,965
Right-of-use assets, operating leases exchanged for operating lease liabilities													33,189	57,165
Capital Lease Obligation Exchanged For Finance Lease Liability														71,111
Other Liabilities Exchanged For Operating Lease Liabilities														946
Assumption Of Debt Through Investments In Unconsolidated Affiliates														4,688
Debt Exchanged For Deferred Gain On Tax Credits
Other Assets Exchanged For Deferred Gain On Tax Credits
Right of use assets, operating leases terminated in exchange for finance lease liabilities													(1,432)	0
Change In Control Of Previously Unconsolidated Consolidated Investment [Abstract]
Increase in real estate													(135,190)	828
Decrease in investments in and advances to unconsolidated affiliates													96,816	(1,189)
Change in other assets and liabilities													1,238	12
Acquisition of noncontrolling interest asset						588			588		588		(588)	0
Decrease in notes receivable													38,674	0
Decrease in right-of-use assets, finance leases														11,051
Decrease in finance lease liability														(10,702)
Increase in cash and restricted cash upon change of control													950	0
Adjustments
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	(485)	(779)	(1,163)	(309)	446	(2,101)	2,284	(1,942)	183	(2,427)	629		320	2,030
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			(750)				(729)	(1,555)	(1,145)	(2,357)	(1,842)		(2,564)	(2,863)
Straight-line rents			(36)				1,094	(80)	2,807	(137)	3,861		(227)	(4,185)
Noncash lease expense							619		1,368	0	2,382		0
Net unrealized holding gains on investments										0			0
Distributions Of Operating Income From Unconsolidated Affiliates										0			0	0
Equity in (earnings) losses of unconsolidated affiliates	272	207	381	446	612	394	368	588	762	860	1,374		1,820	3,023
Stock compensation expense										0			0	(951)
Amortization Of Financing Costs			(18)				(42)	(36)	(71)	(239)	(99)		(131)	(859)
Impairment charges		0	0	0		0	0	0	0		0		0	0
Gain on disposition of properties				0			0						0	0
Allowance for credit loss			(123)				1,238	(144)	9,620	(200)	20,381		(201)	2,742
Adjustments To Straight Line Rent Reserves			79				967	73	6,404	66	19,483		(203)	1,961
Gain on debt extinguishment													0
Other, net			(1,386)				(1)	(2,258)	(3)	(3,060)	306		(598)	52
Changes in assets and liabilities:
Other liabilities			(48)				122	(74)	175	(85)	153		249	384
Lease liability - operating leases							(376)		(807)	0	(957)		0	2,014
Prepaid expenses and other assets			105				177	(37)	343	102	164		(28)	8
Rents receivable			(90)				(2,457)	24	(3,943)	(14)	(4,735)		1,489	1,544
Accounts payable and accrued expenses			275				24	267	(2,375)	269	53		(194)	73
Net cash provided by operating activities			40				892	(472)	(1,265)	(1,004)	2,079		1,382	4,205
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate										0			0
Acquisition of leasehold interests
Development, construction and property improvement costs			(46)				(489)	(880)	(1,555)	(1,262)	(1,064)		(3,904)	115
Proceeds from the disposition of properties, net							0			0			0
Investments In And Advances To Unconsolidated Affiliates And Other			(336)				(951)	(647)	(1,289)	(921)	(2,023)		10,192	(13,641)
Return Of Capital From Unconsolidated Affiliates And Other			1,000					1,000		1,400				6
Issuance of notes receivable										0			0
Return of deposits for properties under contract													0
Payment of deferred leasing costs			(410)				17	(360)	(1,631)	(318)	(1,620)		1,572	269
Change in control of previously unconsolidated affiliate													0
Net cash used in investing activities			1,120				(479)	1,593	1,897	2,059	661		(4,716)	(13,481)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes										0			3,500	27,627
Principal payments on unsecured debt										0			0
Proceeds received on mortgage and other notes			(2,990)					(2,990)	(1,000)	(2,990)	(1,910)		(1,910)	(18,900)
Proceeds from unsecured debt										0			0
Payments of finance lease obligations										0			0
Proceeds from the sale (repurchase) of Common Shares										0			0
Capital contributions from noncontrolling interests										0			(500)	(263)
Distributions to noncontrolling interests			(1,000)					(1,000)		(1,400)			0	6
Dividends paid to Common Shareholders										0			0
Deferred financing and other costs										0			96	444
Net cash used in financing activities			(1,990)					(1,990)	(1,000)	(1,590)	(1,910)		1,186	8,914
Increase in cash and restricted cash			(830)				413	(869)	(368)	(535)	830		(2,148)	(362)
Cash of $14,149 and restricted cash of $13,880 beginning of period	(4,664)	(4,998)	(4,959)	(4,129)	(1,151)	(2,349)	(1,568)	(4,998)	(2,349)	(4,664)	(1,151)		(4,129)	(1,981)	(1,619)
Cash of $18,699 and restricted cash of $11,096 end of period	(4,664)	(4,998)	(4,959)	(4,129)	(1,151)	(2,349)	(1,568)	(4,998)	(2,349)	(4,664)	(1,151)		(4,129)	(1,981)	(1,619)
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $3,421													(2,009)	15,490
Cash paid for income taxes, net of (refunds)													0
Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL													0	0
Assumption of accounts payable and accrued expenses through acquisition of real estate													0
Notes Receivable Exchanged For Real Estate													0
Acquisition Of Real Estate Through Assumption Of Debt													0	0
Distribution declared and payable													123
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities													0	0
Right Of Use Assets Finance Leases Obtained In Exchange For Assets Under Capital Lease													0
Right-of-use assets, operating leases exchanged for operating lease liabilities													0
Capital Lease Obligation Exchanged For Finance Lease Liability
Other Liabilities Exchanged For Operating Lease Liabilities
Assumption Of Debt Through Investments In Unconsolidated Affiliates
Debt Exchanged For Deferred Gain On Tax Credits
Other Assets Exchanged For Deferred Gain On Tax Credits
Settlement Of Note Receivable Through Cancellation Of OP Units														0
Right of use assets, operating leases terminated in exchange for finance lease liabilities														0
As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	31,072	452	697	(32,925)	(37,843)	62,805	(57,755)	1,149	5,050	32,221	(32,793)		(65,718)	23,234
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			30,640				32,648	61,180	66,025	91,244	99,785		147,229	122,580
Straight-line rents			1,092				1,094	2,685	2,807	4,107	3,861		4,869	(4,185)
Noncash lease expense			1,041				619	2,066	1,368	2,887	2,382		3,392
Net unrealized holding gains on investments			(6,135)					(8,565)	(64,937)	(55,796)	(57,031)		(72,391)
Distributions Of Operating Income From Unconsolidated Affiliates			390				1,898	1,387	2,206	2,004	2,829		3,286	11,273
Equity in (earnings) losses of unconsolidated affiliates	(372)	(899)	(1,882)	1,528	1,236	1,180	(887)	(2,781)	293	(3,153)	1,529		3,057	(5,899)
Stock compensation expense			4,511				3,819	7,135	6,136	9,780	8,551		10,912	10,006
Amortization Of Financing Costs			1,251				1,721	2,510	2,849	3,662	3,941		5,038	6,718
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Gain on disposition of properties		(5,909)	(4,612)	(174)	(24)	(485)	0	(10,521)	(485)	(10,521)	(509)		(683)	(30,324)
Allowance for credit loss			2,942				1,238	1,094	9,620	773	20,381		24,569	2,742
Adjustments To Straight Line Rent Reserves			896				967	584	6,404	320	19,483		21,871	1,961
Gain on debt extinguishment													(18,339)
Deferred Gain Loss On Tax Credits														(5,034)
Other, net			926				1,106	1,869	2,777	2,259	3,229		(8,155)	(11,575)
Changes in assets and liabilities:
Other liabilities			3,799				(6,722)	3,040	(6,509)	1,748	(7,583)		(3,959)	(4,850)
Lease liability - operating leases			(494)				(376)	(1,533)	(807)	(2,653)	(957)		(1,579)	2,014
Prepaid expenses and other assets			(1,754)				(1,930)	450	4,556	5,681	1,599		4	8,206
Rents receivable			2,318				(2,481)	(2,777)	21,234	(4,118)	26,776		(28,321)	1,089
Accounts payable and accrued expenses			512				(2,303)	(342)	9,847	489	7,068		3,005	1,705
Net cash provided by operating activities			30,974				28,627	50,561	57,235	71,386	83,160		103,947	131,382
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate							(19,088)		(21,208)	(63,425)	(21,208)		(21,208)	(319,673)
Acquisition of leasehold interests														39,031
Development, construction and property improvement costs			(5,379)				(12,844)	(15,740)	(18,978)	(25,935)	(26,885)		(36,579)	(89,385)
Proceeds from the disposition of properties, net			15,703				0	63,901	13,925	63,901	14,182		20,930	88,738
Investments In And Advances To Unconsolidated Affiliates And Other			(2,061)				(2,476)	(4,623)	(4,559)	(7,032)	(5,685)		(14,483)	(164,922)
Return Of Capital From Unconsolidated Affiliates And Other			5,377				5,024	8,717	7,151	12,071	9,054		14,686	106,005
Issuance of notes receivable							(59,000)	(15,995)	(59,000)	(57,957)	(59,000)		(59,000)	(3,608)
Proceeds from notes receivable														15,250
Return of deposits for properties under contract							200	(1,000)	187		187		187	2,870
Payment of deferred leasing costs			(1,028)				(2,780)	(2,720)	(3,254)	(3,191)	(3,802)		(6,407)	(6,782)
Change in control of previously unconsolidated affiliate													950
Net cash used in investing activities			12,612				(90,964)	32,540	(84,786)	(81,568)	(92,207)		(100,924)	(410,538)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes			(20,406)				(1,488)	(52,408)	(14,360)	(69,766)	(18,981)		(51,949)	(140,584)
Principal payments on unsecured debt			(33,250)				(5,000)	(102,800)	(69,930)	(160,387)	(123,750)		(136,490)	(521,600)
Proceeds received on mortgage and other notes			819				689	5,828	2,340	9,664	3,613		5,351	307,368
Proceeds from unsecured debt			536				122,245	49,295	181,700	211,854	215,554		236,804	526,400
Payments of finance lease obligations							(625)		(833)	(63)	(903)		(903)	(2,749)
Proceeds from the sale (repurchase) of Common Shares							(22,352)	45,675	(22,386)	45,865	(22,386)		(22,386)	145,498
Capital contributions from noncontrolling interests			11,241				7,268	17,109	28,309	26,627	36,736		52,174	161,365
Distributions to noncontrolling interests			(5,800)				(4,914)	(11,202)	(8,178)	(22,381)	(28,418)		(31,461)	(101,364)
Dividends paid to Common Shareholders							(25,245)	(12,945)	(50,182)	(26,208)	(50,182)		(50,182)	(93,902)
Deferred financing and other costs			(333)				(222)	(6,707)	(960)	(7,296)	(1,635)		(2,215)	(6,476)
Net cash used in financing activities			(47,193)				70,356	(68,155)	45,520	7,909	9,648		(1,257)	273,956
Increase in cash and restricted cash			(3,607)				8,019	14,946	17,969	(2,273)	601		1,766	(5,200)
Cash of $14,149 and restricted cash of $13,880 beginning of period	27,522	44,741	26,188	29,795	28,630	45,998	36,048	44,741	45,998	27,522	28,630		29,795	28,029	33,229
Cash of $18,699 and restricted cash of $11,096 end of period	$ 27,522	$ 44,741	$ 26,188	$ 29,795	$ 28,630	45,998	$ 36,048	$ 44,741	45,998	$ 27,522	28,630		29,795	28,029	$ 33,229
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $3,421													70,383	69,076
Cash paid for income taxes, net of (refunds)													(329)	730
Supplemental disclosure of non-cash investing and financing activities
Adjustment to equity as a result of the implementation of CECL													400	0
Assumption of accounts payable and accrued expenses through acquisition of real estate													116	4,666
Notes Receivable Exchanged For Real Estate													72,430	13,530
Acquisition Of Real Estate Through Assumption Of Debt													0	0
Distribution declared and payable													123	26,914
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities													(70,427)	16,349
Right Of Use Assets Finance Leases Obtained In Exchange For Assets Under Capital Lease													0	76,965
Right-of-use assets, operating leases exchanged for operating lease liabilities													33,189	57,165
Capital Lease Obligation Exchanged For Finance Lease Liability														71,111
Other Liabilities Exchanged For Operating Lease Liabilities														946
Assumption Of Debt Through Investments In Unconsolidated Affiliates														4,688
Debt Exchanged For Deferred Gain On Tax Credits														(5,262)
Other Assets Exchanged For Deferred Gain On Tax Credits														228
Settlement Of Note Receivable Through Cancellation Of OP Units														0
Right of use assets, operating leases terminated in exchange for finance lease liabilities													(1,432)	0
Change In Control Of Previously Unconsolidated Consolidated Investment [Abstract]
Increase in real estate													(135,190)	828
Decrease in investments in and advances to unconsolidated affiliates													96,816	(1,189)
Change in other assets and liabilities													1,238	12
Acquisition of noncontrolling interest asset						$ 588			$ 588		$ 588		(588)	0
Decrease in notes receivable													38,674	0
Decrease in right-of-use assets, finance leases														11,051
Decrease in finance lease liability														(10,702)
Increase in cash and restricted cash upon change of control													$ 950	$ 0

Restatement of Previously Issued Consolidated Financial Statements - Consolidated Statement of Cash (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Cash Flows [Abstract]
Cash, Beginning Balance	$ 18,699	$ 14,149	$ 20,074
Cash, Ending Balance		18,699	14,149
Restricted Cash Beginning Balance	11,096	13,880	13,155
Restricted Cash Ending Balance		11,096	13,880
Cash paid during the period for interest, net of capitalized interest of $3,421	$ 3,421	$ 7,110	$ 12,586

Real Estate - Schedule of Real Estate (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Land	$ 739,641	$ 752,721
Buildings and improvements	2,892,051	2,802,253
Tenant improvements	199,925	178,918
Construction in progress	11,131	5,147
Right-of-use assets - finance leases	$ 25,086	$ 25,086
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Net investments in real estate	Net investments in real estate
Total	$ 3,867,834	$ 3,764,125
Less: Accumulated depreciation and amortization	(648,461)	(573,364)
Operating real estate, net	3,219,373	3,190,761
Real estate under development	203,773	247,201	$ 253,396
Net investments in real estate	$ 3,423,146	$ 3,437,962

Real Estate - Schedule of Acquisitions and Conversions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Purchase Price	$ 194,966	$ 172,152
Core Portfolio
Business Acquisition [Line Items]
Purchase Price	$ 26,320	158,143
Core Portfolio \| 917 W. Armitage - Chicago, IL
Business Acquisition [Line Items]
Purchase Price		$ 3,515
Core Portfolio \| Soho Acquisitions \| 37 Greene Street - New York, NY
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 15,689
Core Portfolio \| 14th Street Portfolio
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 26,320
Core Portfolio \| Town Center \| Wilmington, DE
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 138,939
Core Portfolio \| 917 W. Armitage \| 917 W. Armitage - Chicago, IL
Business Acquisition [Line Items]
Percent Acquired		100.00%
Fund IV
Business Acquisition [Line Items]
Purchase Price		$ 14,009
Fund IV \| 230-240 W. Broughton Street \| Savannah, GA
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 13,219
Fund IV \| 102 E. Broughton Street \| Savannah, GA
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 790
Fund V
Business Acquisition [Line Items]
Purchase Price	$ 168,646
Fund V \| Canton Marketplace \| Canton, GA
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 50,954
Fund V \| Monroe Marketplace \| PA
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 44,796
Fund V \| Monroe Marketplace Parcel \| PA
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 1,029
Fund V \| Midstate \| NJ
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 71,867

Real Estate - Acquisitions and Conversions - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Capitalized acquisition costs	$ 3,600	$ 1,300
Properties Held for Sale of disposition	64,000
Debt assumed		$ 0
Canton Marketplace [Member]
Business Acquisition [Line Items]
Mortgage assumed	$ 31,800

Real Estate - Schedule of Purchase Price Allocations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Purchase Price Allocation
Land	$ 37,290	$ 25,440
Buildings and improvements	134,065	123,459
Accounts receivable, prepaids and other assets	0	5,770
Acquisition-related intangible assets	39,953	23,061
Right-of-use asset - Operating lease	0	234
Acquisition-related intangible liabilities	(16,342)	(4,569)
Lease liability - Operating lease	0	(234)
Accounts payable and other liabilities	0	1,009
Net assets acquired	194,966	172,152
Consideration
Cash	161,846	21,208
Conversion of note receivable	0	38,674
Conversion of accrued interest	0	1,995
Debt assumed	31,801	0	$ 0
Liabilities assumed	1,319	116
Existing interest in previously unconsolidated investment	0	109,571
Acquisition of noncontrolling interests	0	588
Total consideration	$ 194,966	$ 172,152

Real Estate - Schedule of Property Dispositions (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain Loss On Sale Of Properties

$ 10,521

$ 683

$ 30,324

Disposed of by sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Sale Price

66,325

^[1]

22,413

109,326

Gain Loss On Sale Of Properties

$ 9,787

^[1]

$ 683

$ 30,324

Core Portfolio | Disposed of by sale | 60 Orange St - Bloomfield, NJ.

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Jan. 29, 2021

Sale Price

$ 16,400

Gain Loss On Sale Of Properties

$ 4,612

Core Portfolio | Disposed of by sale | 163 Highland Ave. (Easement) - Needham, MA

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Mar. 19, 2020

Sale Price

$ 238

Gain Loss On Sale Of Properties

$ 88

Core Portfolio | Disposed of by sale | Union Township (Parcel) - New Castle, PA

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Dec. 11, 2020

Sale Price

$ 200

Gain Loss On Sale Of Properties

$ 86

Core Portfolio | Disposed of by sale | Pacesetter Park - Pomona, NY

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Oct. 28, 2019

Sale Price

$ 22,550

Gain Loss On Sale Of Properties

$ 16,771

Fund III | Disposed of by sale | 654 Broadway - New York, NY

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

May 19, 2021

Sale Price

$ 10,000

Gain Loss On Sale Of Properties

$ 111

Fund III | Disposed of by sale | Cortlandt Crossing (Sewer Project and Retention Pond) - Cortlandt, NY

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Nov. 30, 2020

Sale Price

$ 6,325

Gain Loss On Sale Of Properties

$ 0

Fund III | Disposed of by sale | 3104 M Street - Washington, DC

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Jan. 24, 2019

Sale Price

$ 10,500

Gain Loss On Sale Of Properties

$ 2,014

Fund III | Disposed of by sale | 3780-3858 Nostrand Avenue - New York, NY

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Aug. 22, 2019

Sale Price

$ 27,650

Gain Loss On Sale Of Properties

$ 2,562

Fund IV | Disposed of by sale | NE Grocer Portfolio (Selected Assets) - Maine

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Jun. 18, 2021

Sale Price

$ 39,925

Gain Loss On Sale Of Properties

$ 5,064

Fund IV | Disposed of by sale | Colonie Plaza - Albany, NY

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Apr. 13, 2020

Sale Price

$ 15,250

Gain Loss On Sale Of Properties

$ 485

Fund IV | Disposed of by sale | Airport Mall (Parcel) - Bangor, ME

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Sep. 10, 2020

Sale Price

$ 400

Gain Loss On Sale Of Properties

$ 24

Fund IV | Disposed of by sale | 10 Bowery - 3 Residential Condos - New York, NY

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

May 17, 2019

Sale Price

$ 8,826

Gain Loss On Sale Of Properties

$ (242)

Fund IV | Disposed of by sale | JFK Plaza - Waterville, ME

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Jul. 24, 2019

Sale Price

$ 7,800

Gain Loss On Sale Of Properties

$ 2,075

Fund IV | Disposed of by sale | 938 W North Avenue - Chicago, IL

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Date Sold

Sep. 27, 2019

Sale Price

$ 32,000

Gain Loss On Sale Of Properties

$ 7,144

[1]	Does not include the gain on lease termination of $0.7 million related to the Fund IV lease at 110 University Place (Note 12).

Real Estate - Schedule of Property Dispositions (Details) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on termination of lease	$ 3,615	$ 0	$ 0
Fund IV \| 110 University, New York, NY
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on termination of lease	$ 700

Real Estate - Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
STATEMENTS OF INCOME
Gain on disposition of properties	$ 10,521	$ 683	$ 30,324
Disposal Group, Not Discontinued Operations
STATEMENTS OF INCOME
Revenues	3,270	8,847	17,282
Expenses	3,784	(8,625)	(1,212)
Gain on disposition of properties	10,521	683	30,324
Net income attributable to noncontrolling interests	4,151	(323)	(10,967)
Net income attributable to Acadia	$ 5,856	$ 582	$ 37,851

- Definition

Amount after tax of income (loss) from a discontinued operation attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109222160&loc=d3e1012-107759

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4568447-111683

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4569616-111683

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721525-107759

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721523-107759

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222160&loc=d3e957-107759

+ Details

- Definition

Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Real Estate - Schedule of Development in Process Activities (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2021

USD ($)

Property

Dec. 31, 2020

USD ($)

Property

Dec. 31, 2019

USD ($)

Property

Property, Plant and Equipment [Line Items]

Number of properties under development | Property

Real estate under development, beginning balance

$ 203,773

$ 247,201

$ 253,396

Transfers In

29,758

66,812

Capitalized Costs

8,994

7,920

Transfers Out

$ 82,180

$ (80,927)

Core Portfolio

Property, Plant and Equipment [Line Items]

Number of properties under development | Property

Real estate under development, beginning balance

$ 42,517

$ 63,875

$ 60,863

Transfers In

Capitalized Costs

1,855

3,012

Transfers Out

$ 23,213

$ 0

Fund Portfolio | Fund II

Property, Plant and Equipment [Line Items]

Number of properties under development | Property

^[1]

Real estate under development, beginning balance

$ 35,125

$ 74,657

^[1]

$ 10,703

^[1]

Transfers In

66,812

^[1]

Capitalized Costs

3,921

3,612

^[1]

Transfers Out

$ (43,453)

$ 6,470

^[1]

Fund Portfolio | Fund III

Property, Plant and Equipment [Line Items]

Number of properties under development | Property

Real estate under development, beginning balance

$ 24,296

$ 23,104

$ 36,240

Transfers In

Capitalized Costs

1,192

Transfers Out

$ 0

$ (13,171)

Fund Portfolio | Fund IV

Property, Plant and Equipment [Line Items]

Number of properties under development | Property

^[2]

^[2],[3]

^[3]

Real estate under development, beginning balance

$ 101,835

^[2]

$ 85,565

^[2],[3]

$ 145,590

^[3]

Transfers In

29,758

^[2]

^[3]

Capitalized Costs

2,026

^[2]

1,261

^[3]

Transfers Out

$ 15,514

^[2]

$ (61,286)

^[3]

[1]	Transfers in include $33.8 million of non-cash Fund II additions obtained through the conversion of a note receivable (Note 4).
[2]	Transfers in include $29.8 million related to the remaining portion of one Fund IV property that was placed into development.
[3]	Transfers out include impairment charges totaling $16.5 million on two Fund IV development properties (Note 9).

Real Estate - Schedule of Development in Process Activities (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Nov. 02, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Notes receivable, net	$ 100,882	$ 153,886		$ 114,943	$ 111,775
Impairment charge		9,925
Fund II
Property, Plant and Equipment [Line Items]
Notes receivable, net	33,800	33,800	$ 33,800
Fund IV
Property, Plant and Equipment [Line Items]
Notes receivable, net		29,800
Fund IV \| Fund Portfolio
Property, Plant and Equipment [Line Items]
Impairment charge	$ 16,500	$ 16,500

Real Estate - Real Estate Under Development and Construction in Progress - Additional Information (Details) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2021 USD ($) Property	Jun. 30, 2021 Property	Dec. 31, 2020 USD ($) Property	Mar. 31, 2020 Property	Dec. 31, 2021 USD ($)	Nov. 02, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Property, Plant and Equipment [Line Items]
Notes receivable, net	$ 153,886		$ 100,882		$ 153,886		$ 114,943	$ 111,775
Impairment charge					9,925
Fund II
Property, Plant and Equipment [Line Items]
Notes receivable, net	33,800		$ 33,800		33,800	$ 33,800
Fund IV
Property, Plant and Equipment [Line Items]
Number of projects put into service during period \| Property				1
Notes receivable, net	$ 29,800				29,800
Cortlandt Crossing \| Fund III
Property, Plant and Equipment [Line Items]
Number of projects put into service during period \| Property				1
Fund Portfolio \| Fund IV
Property, Plant and Equipment [Line Items]
Number of projects put into service during period \| Property	1		2
Impairment charge			$ 16,500		$ 16,500
Core Portfolio
Property, Plant and Equipment [Line Items]
Number of projects put into service during period \| Property		1

Notes Receivable, Net - Schedule of Notes Receivable (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2021

USD ($)

Notes receivable

Dec. 31, 2020

USD ($)

Accounts Notes And Loans Receivable [Line Items]

Total notes receivable

$ 159,638

$ 102,100

Allowance for credit loss

(5,752)

(1,218)

Notes receivable, net

$ 153,886

$ 100,882

Number | Notes receivable

Interest Rate

9.00%

Minimum

Accounts Notes And Loans Receivable [Line Items]

Maturity Date

2020-04

Interest Rate

5.00%

^[1]

5.00%

Maximum

Accounts Notes And Loans Receivable [Line Items]

Maturity Date

2027-12

Interest Rate

^[1]

12.00%

Core Portfolio

Accounts Notes And Loans Receivable [Line Items]

Total notes receivable

^[1]

$ 154,332

$ 96,794

Notes receivable, net

$ 153,886

Number | Notes receivable

^[1]

Fund II | Fund Portfolio

Accounts Notes And Loans Receivable [Line Items]

Allowance for credit loss

$ (5,306)

Maturity Date

2020-07

Interest Rate

18.00%

Fund III

Accounts Notes And Loans Receivable [Line Items]

Number | Notes receivable

Maturity Date

2020-07

[1]	Includes one and two notes receivable from OP Unit holders, for $6.0 million and $6.5 million at December 31, 2021 and 2020, respectively.

Notes Receivable, Net - Schedule of Notes Receivable (Parenthetical) (Details)
$ in Thousands

Dec. 31, 2021

USD ($)

Notes receivable

Dec. 31, 2020

USD ($)

Accounts Notes And Loans Receivable [Line Items]

Number of notes receivable | Notes receivable

Notes receivable

$ 159,638

$ 102,100

Core Portfolio

Accounts Notes And Loans Receivable [Line Items]

Number of notes receivable | Notes receivable

^[1]

Notes receivable

^[1]

$ 154,332

96,794

OP Unit Holders | Core Portfolio

Accounts Notes And Loans Receivable [Line Items]

Notes receivable

$ 6,000

$ 6,500

[1]	Includes one and two notes receivable from OP Unit holders, for $6.0 million and $6.5 million at December 31, 2021 and 2020, respectively.

- Definition

Amount, before allowance for credit loss, of financing receivable.

+ References + Details

Notes Receivable, Net - Additional Information (Details) - USD ($)

12 Months Ended

Feb. 01, 2020

Dec. 31, 2021

Dec. 31, 2020

Oct. 20, 2022

Nov. 02, 2020

Nov. 01, 2020

Apr. 01, 2020

Jan. 14, 2020

Dec. 31, 2019

Dec. 31, 2018

Accounts Notes And Loans Receivable [Line Items]

Notes receivable

$ 159,638,000

$ 102,100,000

Note receivable accrued interest

21,148,000

13,917,000

Credit loss reserve

5,752,000

1,218,000

Notes receivable, net

$ 153,886,000

100,882,000

$ 114,943,000

$ 111,775,000

Interest Rate

9.00%

Credit loss reserves

$ 153,886,000

100,882,000

OP Units In Settlement Of Note Receivable

21,109

Settlement Amount Of Note Receivable In OP Units

$ 500,000

Mortgage Loans On Real Estate

153,886,000

100,882,000

$ 114,943,000

$ 111,775,000

Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)

(114,000)

46,440,000

Allowance for doubtful accounts receivable

$ 38,500,000

$ 45,000,000.0

Maximum [Member]

Accounts Notes And Loans Receivable [Line Items]

Maturity Date

2027-12

Interest Rate

^[1]

12.00%

Minimum [Member]

Accounts Notes And Loans Receivable [Line Items]

Maturity Date

2020-04

Interest Rate

5.00%

^[1]

5.00%

LUF Portfolio

Accounts Notes And Loans Receivable [Line Items]

Note receivable accrued interest

$ 5,000,000.0

Interest Rate

8.00%

Percentage of mortgage loan collateralized

50.00%

Core Note

Accounts Notes And Loans Receivable [Line Items]

Notes receivable

$ 13,500,000

Notes receivable maturity date

Jun. 01, 2022

Oct. 28, 2021

Notes receivable modified, subsequent payment default

$ 21,600,000

850 Third Avenue Brooklyn, NY

Accounts Notes And Loans Receivable [Line Items]

Notes receivable

$ 54,000,000.0

Interest Rate

9.00%

Fund II

Accounts Notes And Loans Receivable [Line Items]

Note receivable accrued interest

$ 600,000

Notes receivable, net

33,800,000

$ 33,800,000

Mortgage Loans On Real Estate

$ 33,800,000

33,800,000

$ 33,800,000

Fund III

Accounts Notes And Loans Receivable [Line Items]

Maturity Date

2020-07

Equity method investment, ownership percentage by third party

100.00%

Additional credit loss reserve

$ 800,000

Notes receivable modified, subsequent payment default

10,000,000.0

Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)

4,500,000

Allowance for doubtful accounts receivable

4,600,000

ASU 2016-13

Accounts Notes And Loans Receivable [Line Items]

Credit loss reserve

400,000

Core Portfolio

Accounts Notes And Loans Receivable [Line Items]

Notes receivable

^[1]

154,332,000

96,794,000

Credit loss reserves

153,886,000

Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)

4,600,000

$ 600,000

Core Portfolio | Share-based Payment Arrangement, Tranche Three [Member]

Accounts Notes And Loans Receivable [Line Items]

Notes receivable, net

42,000,000.0

Mortgage Loans On Real Estate

42,000,000.0

Core Portfolio | Silver Spring, Maryland [Member]

Accounts Notes And Loans Receivable [Line Items]

Notes receivable, net

$ 16,000,000.0

Mortgage Loans On Real Estate

$ 16,000,000.0

Core Portfolio | Soho, New York [Member]

Accounts Notes And Loans Receivable [Line Items]

Notes receivable, net

43,000,000.0

Mortgage Loans On Real Estate

43,000,000.0

Structured Financing

Accounts Notes And Loans Receivable [Line Items]

Note receivable accrued interest

8,800,000

Loans amortized cost

Credit loss reserves

37,900,000

Structured Financing | Non-Collateral Dependent Loans

Accounts Notes And Loans Receivable [Line Items]

Credit loss reserve

1,200

Note receivable accrued interest

12,300,000

Loans amortized cost

$ 142,800,000

Brandywine Portfolio | Core Portfolio

Accounts Notes And Loans Receivable [Line Items]

Notes receivable

$ 38,700,000

Note receivable accrued interest

$ 2,000,000.0

Equity method investment, ownership percentage by third party

24.78%

[1]	Includes one and two notes receivable from OP Unit holders, for $6.0 million and $6.5 million at December 31, 2021 and 2020, respectively.

Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 08, 2019
Schedule of Equity Method Investments [Line Items]
Due from (to) Related Parties	$ 666	$ 363
Other	3,811	1,881
Investments in and advances to unconsolidated affiliates	322,326	272,829
Distributions in excess of income from, and investments in, unconsolidated affiliates	$ 9,939	15,616
KLA/ABS
Schedule of Equity Method Investments [Line Items]
Cost method investment, ownership percentage	36.70%
Cost Method Investment	$ 124,316	72,391
Self Storage Management
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	95.00%
Equity method investments	$ 207	207
640 Broadway
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	63.13%
Equity method investments	$ 17,825	17,457
Fund III
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 18,032	17,664
Fund IV Other Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	98.57%
Equity method investments	$ 12,675	11,719
650 Bald Hill Road
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 11,677	12,550
Paramus Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments	$ 1,975	5,565
Fund IV
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 26,327	29,834
Fund V Family Center at Riverdale
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	89.42%
Equity method investments	$ 12,449	11,824
Tri City Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 6,827	7,024
Frederick County Acquisitions
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 10,748	10,837
Fund V
Schedule of Equity Method Investments [Line Items]
Equity method investments	30,024	29,685
Core Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investments	119,150	121,011	$ 200	$ 1,800
Other	$ 3,700
Core Portfolio \| 840 N. Michigan
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	88.43%
Equity method investments	$ 51,513	55,863
Core Portfolio \| Renaissance Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20.00%
Equity method investments	$ 28,466	29,270
Core Portfolio \| Gotham Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Equity method investments	$ 29,187	28,683
Core Portfolio \| Georgetown Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments	$ 4,089	4,624
Core Portfolio \| 1238 Wisconsin Avenue
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	80.00%
Equity method investments	$ 5,895	2,571
Core Portfolio \| Crossroads
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Distributions in excess of income from, and investments in, unconsolidated affiliates	$ 9,939	$ 15,616

Investments in and Advances to Unconsolidated Affiliates - Core Portfolio - Additional Information (Details) $ in Thousands, ft² in Millions		3 Months Ended		12 Months Ended
	Jan. 04, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2021 USD ($) ft²	Dec. 31, 2020 USD ($)	Dec. 28, 2021 USD ($)	Apr. 01, 2020 USD ($)	Dec. 31, 2019 USD ($)	Aug. 08, 2019 USD ($)	Dec. 31, 2018 USD ($)
Schedule Of Equity Method Investments [Line Items]
Notes receivable, net		$ 100,882		$ 153,886	$ 100,882			$ 114,943		$ 111,775
Investment Owned At Cost		$ 1,881		3,811	$ 1,881
Acadia Brandywine Holdings, LLC
Schedule Of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		22.22%			22.22%
Riverdale
Schedule Of Equity Method Investments [Line Items]
Venture Capital Gain (Loss), Net				3,200
Proceeds from sale of property	$ 10,500
Repayment related to mortgage	7,900
Recognized gain in shares amount	600
1238 Wisconsin Avenue
Schedule Of Equity Method Investments [Line Items]
Construction loan commitment						$ 12,800
Origination fee						$ 100
Subscription Agreement [Member]
Schedule Of Equity Method Investments [Line Items]
General Partners' Contributed Capital				5,400
Increase in Investment				1,900
Investment Owned At Cost				7,500
Core Portfolio
Schedule Of Equity Method Investments [Line Items]
Equity method investments		$ 121,011		119,150	$ 121,011			$ 200	$ 1,800
Increase in Investment				1,900	$ 400
Investment Owned At Cost				$ 3,700
Impairment of Investment			$ 400
Total Commitment									$ 5,000
Core Portfolio \| Brandywine Portfolio
Schedule Of Equity Method Investments [Line Items]
Note receivable exchanged	$ 38,700
Note receivable accrued interest							$ 2,000
Equity method investment, controlling interest percentage							100.00%
Square footage of real estate property (in square feet) \| ft²				1
Equity method investment, ownership percentage				100.00%
Cost method investment ownership percentage							24.78%
Debt Conversion, Converted Instrument, Amount				$ 140,000
Core Portfolio \| Fifth Wall Ventures Retail Fund, L.P.
Schedule Of Equity Method Investments [Line Items]
Investment Owned At Cost							$ 400
Impairment of Investment		$ 400
Core Portfolio \| Town Center
Schedule Of Equity Method Investments [Line Items]
Equity method investment, ownership percentage by third party							24.78%

Investments in and Advances to Unconsolidated Affiliates - Fund Investments - Additional Information (Details) $ in Thousands		12 Months Ended
	Jun. 29, 2019 USD ($)	Dec. 31, 2014 Property	Dec. 31, 2021 Property	Jun. 30, 2020 Property	May 26, 2020 USD ($) Property	Oct. 31, 2018 Property
Schedule of Equity Method Investments [Line Items]
Number of retail properties			186
BSP I and BSP II
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%
Number of Joint Ventures		2
Fund I Vs Broughton Street Portfolio Venture
Schedule of Equity Method Investments [Line Items]
Number of retail properties		8
Fund IV \| Disposed of by sale
Schedule of Equity Method Investments [Line Items]
Number of retail properties		2
BSP I
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage						100.00%
BSP I \| Consolidated Entity
Schedule of Equity Method Investments [Line Items]
Number of retail properties						11
Fund III's Storage Post venture
Schedule of Equity Method Investments [Line Items]
Distribution from cost method investment \| $	$ 1,600
Cost method investments \| $	0
Fund III's Storage Post venture \| Partnership Interest
Schedule of Equity Method Investments [Line Items]
Distribution from cost method investment \| $	$ 400
BSP II \| Consolidated Affiliates
Schedule of Equity Method Investments [Line Items]
Number of retail properties				2
Broughton Street Portfolio
Schedule of Equity Method Investments [Line Items]
Purchase Price \| $					$ 1,300
Number of businesses acquired		23
Number of retail properties					2

Investments in and Advances to Unconsolidated Affiliates - Mervyns I & II - Additional Information (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Cost method investments effective ownership interest						1.00%
Net unrealized holding gains on investments			$ 51,925	$ 72,391	$ 0
Mervyns II
Schedule of Equity Method Investments [Line Items]
Cost method investment, ownership percentage			28.33%
Proceeds from Dividends Received			$ 1,700
Unrealized change in fair value of investment			$ 51,900
Realized gain on investment	$ 400	$ 22,800
Cost method investments effective ownership, shares			4.1			4.1
Cost method investments effective ownership interest			1.00%
Net unrealized holding gains on investments		$ 64,900
Albertson
Schedule of Equity Method Investments [Line Items]
Cost method investment, ownership percentage			36.67%
Net unrealized holding gains on investments				$ 7,500
Albertson \| Mervyns II
Schedule of Equity Method Investments [Line Items]
Net unrealized holding gains on investments			$ 1,700

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Additional Information (Details) - Equity Method Investee - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Related party revenue	$ 0.6	$ 1.1	$ 0.7
Expenses, related party	$ 1.4	$ 2.1	$ 1.4

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
-URI http://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Balance Sheet (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Statement Of Financial Position [Abstract]

Real estate under development

$ 203,773

$ 247,201

Other assets

186,509

170,281

Total assets

4,261,746

^[1]

4,131,069

^[1]

$ 4,251,695

Total liabilities and equity

4,261,746

4,131,069

Investments carried at fair value or cost

3,811

1,881

Company's share of distributions in excess of income from and investments in unconsolidated affiliates

9,939

15,616

Investments in and advances to unconsolidated affiliates

322,326

272,829

Unconsolidated Affiliates

Statement Of Financial Position [Abstract]

Rental property, net

631,661

633,375

Real estate under development

8,112

14,664

Other assets

78,300

70,710

Total assets

718,073

718,749

Mortgage notes payable

571,461

569,040

Other liabilities

69,166

76,341

Partners’ equity

77,446

73,368

Total liabilities and equity

718,073

718,749

Company's share of accumulated equity

113,285

112,088

Basis differential

66,031

66,724

Deferred fees, net of portion related to the Company's interest

4,071

3,559

Amounts receivable/payable by the Company

666

363

Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates

184,053

182,734

Investments carried at fair value or cost

128,334

74,479

Company's share of distributions in excess of income from and investments in unconsolidated affiliates

9,939

15,616

Investments in and advances to unconsolidated affiliates

$ 322,326

$ 272,829

[1]	Real estate at cost and total assets for the Funds segment include $657.0 million and $641.7 million, or $190.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2021 and 2020, respectively.

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Company's equity in earnings (losses) of unconsolidated affiliates	$ 5,330	$ (3,057)	$ 5,899
Combined and Condensed Statements of Operations
Revenues	292,497	250,908	289,585
Loss on extinguishment of debt	0	18,339	0
Depreciation And Amortization	123,439	147,229	122,580
Net income (loss) attributable to unconsolidated affiliates		200	700
Unconsolidated Affiliates
Combined and Condensed Statements of Operations
Revenues	80,823	78,054	77,507
Operating and other expenses	(28,572)	(28,718)	(24,894)
Interest Expense	(21,228)	(22,651)	(25,660)
Loss on extinguishment of debt	(35)	0	0
Depreciation And Amortization	(30,518)	(30,917)	(25,012)
Gain on disposition of properties	3,206	0	0
Net income (loss) attributable to unconsolidated affiliates	3,676	(4,232)	1,941
Operating Partnership, as General Partner or Managing Member
Schedule Of Equity Method Investments [Line Items]
Company 's share of equity in net income (loss) of unconsolidated affiliates	6,023	(2,503)	1,118
Income attributable to unconsolidated affiliated recently sold or consolidated	0	1,280
Basis differential amortization	(693)	(1,834)	(1,374)
Company's equity in earnings (losses) of unconsolidated affiliates	$ 5,330	$ (3,057)	$ 5,899

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Income Statement (Paranthetical) (Details)	Jan. 04, 2021 LandParcel
Equity Method Investments And Joint Ventures [Abstract]
Number of land parcels sold by the Family Center at Riverdale	2

Other Assets, Net and Accounts Payable and Other Liabilities - Schedule of other assets and other liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Assets, Net:
Lease intangibles, net (Note 7)	$ 108,918	$ 100,426
Deferred charges, net	28,438	27,634
Note receivable accrued interest	21,148	13,917
Prepaid expenses	17,230	17,117
Due from seller	3,364	3,682
Income taxes receivable	2,279	2,433
Other receivables	1,830	2,065
Deposits	1,647	1,704
Corporate assets, net	1,648	1,302
Derivative financial instruments (Note 9)	7	1
Other assets, net	186,509	170,281
Deferred Charges, Net:
Deferred leasing and other costs	58,281	53,443
Deferred financing costs related to line of credit	9,953	11,341
Deferred costs, gross	68,234	64,784
Accumulated amortization	(39,796)	(37,150)
Deferred charges, net	28,438	27,634
Accounts Payable and Other Liabilities:
Lease intangibles, net (Note 7)	$ 76,778	$ 76,434
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accounts payable and other liabilities	Accounts payable and other liabilities
Accounts payable and accrued expenses	$ 56,580	$ 52,399
Derivative financial instruments (Note 9)	45,027	89,612
Deferred income	38,373	31,785
Tenant security deposits, escrow and other	13,045	11,925
Lease liability - finance leases, net (Note 12)	$ 6,612	$ 6,287
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts payable and other liabilities	Accounts payable and other liabilities
Accounts payable and other liabilities	$ 236,415	$ 268,442

Lease Intangibles - Schedule of Intangible Assets and Liabilities Included in Other Assets and Accounts Payable and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	$ 315,010	$ 284,073
Amortizable Intangible Assets, Accumulated Amortization	(206,092)	(183,647)
Amortizable Intangible Assets, Net Carrying Amount	108,918	100,426
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Gross Carrying Amount	(171,245)	(162,238)
Amortizable Intangible Liabilities, Accumulated Amortization	94,871	86,266
Amortizable Intangible Liabilities, Net Carrying Amount	(76,374)	(75,972)
Above-market Ground Lease, Gross	(671)	(671)
Above-market Ground Lease, Accumulated Amortization	267	209
Above-market Ground Lease, Net	(404)	(462)
Finite-Lived Intangible Liabilities, Gross	(171,916)	(162,909)
Finite-Lived Intangible Liabilities, Accumulated Amortization	95,138	86,475
Finite-Lived Intangible Liabilities, Net	(76,778)	(76,434)
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	290,819	265,063
Amortizable Intangible Assets, Accumulated Amortization	(189,981)	(168,891)
Amortizable Intangible Assets, Net Carrying Amount	100,838	96,172
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Net Carrying Amount	(68,294)
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	24,191	19,010
Amortizable Intangible Assets, Accumulated Amortization	(16,111)	(14,756)
Amortizable Intangible Assets, Net Carrying Amount	$ 8,080	$ 4,254

Lease Intangibles - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 34.7	$ 21.0
Acquired intangible assets, weighted average useful life	5 years 9 months 18 days	4 years 10 months 24 days
Finite lived intangible assets derecognized	$ 2.2	$ 1.5
Lease intangible assets disposed	1.7	0.4
Amortization of intangible of assets	1.6	3.7
In-place lease intangible assets \| Tenant Non-renewals
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible of assets	1.1	2.2
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 5.3	$ 2.0
Acquired intangible assets, weighted average useful life	5 years 4 months 24 days	5 years 9 months 18 days
Below Market Rents
Finite-Lived Intangible Assets [Line Items]
Below market rents, acquired	$ 16.3	$ 4.6
Acquired intangible assets, weighted average useful life	27 years 8 months 12 days	20 years 2 months 12 days
Finite lived intangible assets derecognized	$ 4.4
Lease intangible assets disposed	3.0
Amortization of intangible of assets	3.6	$ 1.9
Below Market Rents \| Early Tenant Lease Terminations
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible of assets	$ 3.1	$ 1.1

Lease Intangibles - Scheduled Amortization of Acquired Lease Intangible Assets and Assumed Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Acquired Lease Intangibles [Abstract]
Net Increase In Lease Revenues, Total	$ 76,374	$ 75,972
Amortizable Intangible Assets, Net Carrying Amount	(108,918)	(100,426)
In-place lease intangible assets
Acquired Lease Intangibles [Abstract]
2022, Net Increase In Lease Revenues	5,215
2023, Net Increase In Lease Revenues	4,768
2024, Net Increase In Lease Revenues	4,700
2025, Net Increase In Lease Revenues	4,287
2026, Net Increase In Lease Revenues	3,992
Thereafter, Net Increase In Lease Revenues	45,332
Net Increase In Lease Revenues, Total	68,294
2022, Increase to Amortization	(26,371)
2023, Increase to Amortization	(19,902)
2024, Increase to Amortization	(14,046)
2025, Increase to Amortization	(9,804)
2026, Increase to Amortization	(7,433)
Thereafter, Increase to Amortization	(23,282)
Amortizable Intangible Assets, Net Carrying Amount	(100,838)	$ (96,172)
2022, Reduction of Rent Expense	58
2023, Reduction of Rent Expense	58
2024, Reduction of Rent Expense	58
2025, Reduction of Rent Expense	58
2026, Reduction of Rent Expense	58
Thereafter, Reduction of Rent Expense	114
Reduction of Rent Expense, Total	404
2022, Net Income (Expense)	(21,098)
2023, Net Income (Expense)	(15,076)
2024, Net Income (Expense)	(9,288)
2025, Net Income (Expense)	(5,459)
2026, Net Income (Expense)	(3,383)
Thereafter, Net Income (Expense)	22,164
Total, Net Income (Expense)	$ (32,140)

Debt - Summary of Consolidated Indebtedness (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Debt Instrument [Line Items]

Long-term debt, gross

$ 1,819,738

$ 1,713,274

Net unamortized debt issuance costs

(7,946)

(5,978)

Unamortized Premium

446

548

Secured Debt, Total

1,140,293

1,148,586

Unsecured notes payable, net

559,040

420,858

Total Indebtedness

$ 1,812,238

1,707,844

SOFR | Fund IV

Debt Instrument [Line Items]

Basis spread on variable rate

2.01%

Fund Portfolio | Fund II

Debt Instrument [Line Items]

Long-term debt, gross

$ 255,978

228,282

Fund Portfolio | LIBOR | Fund V | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

2.20%

Fund Portfolio | LIBOR | Fund V | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.50%

Variable Rate

Debt Instrument [Line Items]

Long-term debt, gross

^[1]

$ 780,935

589,019

Mortgages

Debt Instrument [Line Items]

Net unamortized debt issuance costs

(3,958)

(5,722)

Unamortized Premium

446

548

Secured Debt, Total

1,140,293

1,148,586

Mortgages | Core Portfolio

Debt Instrument [Line Items]

Long-term debt, gross

218,421

228,310

Mortgages | Fund Portfolio | Fund II

Debt Instrument [Line Items]

Long-term debt, gross

255,978

247,085

Mortgages | Fund Portfolio | Fund IV

Debt Instrument [Line Items]

Long-term debt, gross

246,268

306,740

Mortgages | Fund Portfolio | Fund V

Debt Instrument [Line Items]

Long-term debt, gross

388,410

335,677

Unsecured Debt

Debt Instrument [Line Items]

Net unamortized debt issuance costs

(3,988)

(256)

Unsecured notes payable, net

559,040

420,858

Unsecured Debt | Core Portfolio

Debt Instrument [Line Items]

Long-term debt, gross

400,000

380,000

Line of Credit

Debt Instrument [Line Items]

Unsecured notes payable, net

112,905

138,400

Fixed Rate

Debt Instrument [Line Items]

Long-term debt, gross

^[2],[3]

1,038,803

1,124,255

Fixed Rate | Mortgages | Core Portfolio

Debt Instrument [Line Items]

Long-term debt, gross

$ 145,464

$ 147,810

Fixed Rate | Mortgages | Core Portfolio | Maximum

Debt Instrument [Line Items]

Interest rate, stated percentage

5.89%

Maturity Date

2035-04

Fixed Rate | Mortgages | Core Portfolio | Minimum

Debt Instrument [Line Items]

Interest rate, stated percentage

3.88%

Maturity Date

2024-02

Fixed Rate | Mortgages | Fund Portfolio | Fund IV

Debt Instrument [Line Items]

Interest rate, stated percentage

4.50%

Maturity Date

2025-10

Long-term debt, gross

$ 1,120

$ 6,726

Fixed Rate | Mortgages | Fund Portfolio | Fund IV | Maximum

Debt Instrument [Line Items]

Interest rate, stated percentage

4.50%

Fixed Rate | Mortgages | Fund Portfolio | Fund IV | Minimum

Debt Instrument [Line Items]

Interest rate, stated percentage

3.40%

Fixed Rate | Mortgages | Fund Portfolio | Fund V

Debt Instrument [Line Items]

Interest rate, stated percentage

3.35%

Maturity Date

2023-05

Long-term debt, gross

$ 31,801

Variable Rate Debt | Core Portfolio | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

Variable Rate Debt | Core Portfolio | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.50%

Variable Rate Debt | Fund Portfolio | LIBOR | Fund III | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

2.75%

Variable Rate Debt | Mortgages | Fund Portfolio | Fund II

Debt Instrument [Line Items]

Maturity Date

2022-08

Variable Rate Debt | Mortgages | Fund Portfolio | Fund III

Debt Instrument [Line Items]

Long-term debt, gross

$ 34,728

35,948

Variable Rate Debt | Mortgages | Fund Portfolio | Fund IV

Debt Instrument [Line Items]

Long-term debt, gross

$ 221,832

$ 252,324

Variable Rate Debt | Mortgages | Fund Portfolio | Fund IV | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

3.65%

3.40%

Maturity Date

2026-06

Variable Rate Debt | Mortgages | Fund Portfolio | Fund IV | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.60%

Maturity Date

2022-02

Variable Rate Debt | Mortgages | Fund Portfolio | Fund V

Debt Instrument [Line Items]

Long-term debt, gross

$ 58,878

$ 1,354

Variable Rate Debt | Mortgages | Fund Portfolio | Prime Rate | Fund II

Debt Instrument [Line Items]

Basis spread on variable rate

2.00%

Variable Rate Debt | Mortgages | Fund Portfolio | LIBOR | Fund II

Debt Instrument [Line Items]

Basis spread on variable rate

2.75%

3.00%

Maturity Date

2022-03

Debt Instrument [Line Items]

Basis spread on variable rate

2.75%

Debt Instrument [Line Items]

Basis spread on variable rate

2.75%

Maturity Date

2022-06

Variable Rate Debt | Mortgages | Fund Portfolio | LIBOR | Fund V

Debt Instrument [Line Items]

Basis spread on variable rate

1.85%

Debt Instrument [Line Items]

Basis spread on variable rate

2.20%

Maturity Date

2026-11

Debt Instrument [Line Items]

Basis spread on variable rate

1.50%

Maturity Date

2022-06

Variable Rate Debt | Mortgages | Fund Portfolio | SOFR | Fund V

Debt Instrument [Line Items]

Basis spread on variable rate

2.76%

Variable Rate - Swapped | Mortgages | Core Portfolio

Debt Instrument [Line Items]

Long-term debt, gross

^[4]

$ 72,957

$ 80,500

Variable Rate - Swapped | Mortgages | Core Portfolio | Maximum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

4.54%

Maturity Date

^[4]

2028-11

Variable Rate - Swapped | Mortgages | Core Portfolio | Minimum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

3.41%

Maturity Date

^[4]

2023-01

Variable Rate - Swapped | Mortgages | Fund Portfolio | Fund II

Debt Instrument [Line Items]

Interest rate, stated percentage

2.88%

Long-term debt, gross

$ 0

$ 18,803

Variable Rate - Swapped | Mortgages | Fund Portfolio | Fund IV

Debt Instrument [Line Items]

Long-term debt, gross

^[4]

$ 23,316

$ 47,690

Variable Rate - Swapped | Mortgages | Fund Portfolio | Fund IV | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

^[4]

4.61%

Maturity Date

^[4]

2022-12

Variable Rate - Swapped | Mortgages | Fund Portfolio | Fund IV | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

^[4]

3.48%

Maturity Date

^[4]

2022-04

Variable Rate - Swapped | Mortgages | Fund Portfolio | Fund V

Debt Instrument [Line Items]

Long-term debt, gross

^[4]

$ 297,731

$ 334,323

Variable Rate - Swapped | Mortgages | Fund Portfolio | Fund V | Maximum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

4.78%

Maturity Date

^[4]

2024-12

Variable Rate - Swapped | Mortgages | Fund Portfolio | Fund V | Minimum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

2.43%

2.95%

Maturity Date

^[4]

2022-02

Variable Rate Unsecured Term Loans - Swapped | Unsecured Debt | Core Portfolio

Debt Instrument [Line Items]

Maturity Date

^[4]

2026-06

Long-term debt, gross

^[4]

$ 400,000

$ 350,000

Variable Rate Unsecured Term Loans - Swapped | Unsecured Debt | Core Portfolio | Maximum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

5.32%

5.02%

Variable Rate Unsecured Term Loans - Swapped | Unsecured Debt | Core Portfolio | Minimum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

3.65%

2.49%

Variable Rate Unsecured Term Loans - Swapped | Line of Credit | Core Portfolio

Debt Instrument [Line Items]

Maturity Date

2025-06

Long-term debt, gross

$ 46,491

$ 0

Variable Rate Unsecured Term Loans - Swapped | Line of Credit | Core Portfolio | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.40%

Unsecured Notes Payable | Core Portfolio | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.55%

Unsecured Notes Payable | Unsecured Debt | Fund Portfolio | Fund II

Debt Instrument [Line Items]

Long-term debt, gross

$ 40,000

Unsecured Notes Payable | Unsecured Debt | Fund Portfolio | LIBOR | Fund II

Debt Instrument [Line Items]

Basis spread on variable rate

2.25%

1.65%

Maturity Date

2022-09

Term Loan Subscription Facility | Unsecured Debt | Fund Portfolio | Fund IV

Debt Instrument [Line Items]

Long-term debt, gross

$ 864

Term Loan Subscription Facility | Unsecured Debt | Fund Portfolio | LIBOR | Fund IV

Debt Instrument [Line Items]

Basis spread on variable rate

2.01%

1.90%

Maturity Date

2022-12

Subscription Line | Unsecured Debt | Fund V

Debt Instrument [Line Items]

Maturity Date

2022-05

Subscription Line | Unsecured Debt | Fund Portfolio | Fund V

Debt Instrument [Line Items]

Long-term debt, gross

$ 118,028

$ 250

Subscription Line | Unsecured Debt | Fund Portfolio | LIBOR | Fund V

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

1.60%

Maturity Date

2022-05

Unsecured Line of Credit - Swapped | Line of Credit | Core Portfolio

Debt Instrument [Line Items]

Maturity Date

^[4]

2025-06

Long-term debt, gross

^[4]

$ 66,414

$ 138,400

Unsecured Line of Credit - Swapped | Line of Credit | Core Portfolio | Maximum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

5.32%

5.02%

Unsecured Line of Credit - Swapped | Line of Credit | Core Portfolio | Minimum

Debt Instrument [Line Items]

Interest rate, stated percentage

^[4]

3.65%

2.49%

Variable Rate Credit Facility [Member] | Unsecured Debt | Core Portfolio

Debt Instrument [Line Items]

Long-term debt, gross

$ 30,000

Variable Rate Credit Facility [Member] | Unsecured Debt | Core Portfolio | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

2.55%

[1]	Includes $110.5 million and $103.2 million, respectively, of variable-rate debt that is subject to interest cap agreements.
[2]	Fixed-rate debt at December 31, 2021 and 2020 includes $0.0 million and $3.2 million, respectively of Core swaps that may be used to hedge debt instruments of the Funds.
[3]	Includes $860.4 million and $969.7 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented.
[4]	At December 31, 2021, the stated rates ranged from LIBOR + 1.50% to LIBOR +1.90% for Core variable-rate debt; LIBOR + 2.75% for Fund III variable-rate debt; LIBOR +2.00% for Fund IV variable-rate debt; LIBOR + 1.50% to LIBOR + 2.20% for Fund V variable-rate debt; LIBOR + 1.55% for Core variable-rate unsecured term loans; and LIBOR + 1.40%for Core variable-rate unsecured lines of credit.

Debt - Summary of Consolidated Indebtedness (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,819,738	$ 1,713,274
Interest Rate Caps
Debt Instrument [Line Items]
Long-term debt, gross	110,500	103,200
Total Debt - Variable Rate Debt Fixed with Interest Rate Swap Agreements
Debt Instrument [Line Items]
Long-term debt, gross	860,400	969,700
Core Portfolio \| Interest Rate Swaps
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	3,200
Minimum \| Core Portfolio \| Variable Rate Debt \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Minimum \| Core Portfolio \| Unsecured Notes Payable \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.55%
Minimum \| Core Portfolio \| Unsecured Line of Credit [Member] \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%
Maximum \| Core Portfolio \| Variable Rate Debt \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Fund II \| Fund Portfolio
Debt Instrument [Line Items]
Long-term debt, gross	$ 255,978	$ 228,282
Fund III \| Minimum \| Fund Portfolio \| Variable Rate Debt \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Fund V \| Minimum \| Fund Portfolio \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Fund V \| Maximum \| Fund Portfolio \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.20%

Debt - Credit Facility - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2018	Dec. 31, 2021
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 900,000,000.0
Third party
Debt Instrument [Line Items]
Capitalized costs		100,000
Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 700,000,000.0
Maturity date		Mar. 31, 2023
$400 Million Term Loan
Debt Instrument [Line Items]
Maturity date		Jun. 29, 2026
$400 Million Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 400,000,000.0
Basis spread on variable rate		1.55%
$300 Million Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000.0
Basis spread on variable rate	1.30%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 300,000,000.0
Maturity date		Jun. 29, 2025
Capitalized costs		$ 2,700,000
Revolving Credit Facility \| Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000.0	$ 50,000,000.0
Basis spread on variable rate	1.40%	1.40%
Maturity date	Mar. 31, 2022
Revolving Credit Facility \| $300 Million Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 300,000,000.0
Term Loan
Debt Instrument [Line Items]
Capitalized costs		3,100,000
Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		50,000,000.0
Term Loan \| $400 Million Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 400,000,000.0

Debt - Mortgage Payable - Additional Information (Details)		3 Months Ended	12 Months Ended
	Oct. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($)	Dec. 31, 2012 USD ($)	Dec. 30, 2021	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Feb. 29, 2020 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Notes receivable, net			$ 153,886,000	$ 100,882,000	$ 114,943,000							$ 111,775,000
Maximum borrowing capacity			900,000,000.0
Repayments of debt				26,300,000
Gain on debt extinguishment			0	18,339,000	0
Canton Marketplace
Debt Instrument [Line Items]
Mortgage			31,800,000
Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, notional amount			16,700,000	30,400,000							$ 50,000,000.0
Cash proceeds from swaps			3,400,000
Mortgages
Debt Instrument [Line Items]
Scheduled principal payment				6,100,000
Mortgages \| Canton Marketplace
Debt Instrument [Line Items]
Mortgage			$ 31,800,000
Debt instrument, maturity date			May 01, 2023
Interest rate, stated percentage			3.35%
Mortgages \| Monroe Marketplace [Member]
Debt Instrument [Line Items]
Mortgage			$ 29,200,000
Maturity date			Nov. 12, 2026
Mortgages \| Subscription Line
Debt Instrument [Line Items]
Notes receivable, net				$ 46,000,000.0						$ 37,700,000
Number of mortgage loans \| Loan				7
Mortgage Loan Principal Amount										$ 1,700,000
Mortgages \| Subscription Line 1
Debt Instrument [Line Items]
Notes receivable, net			$ 14,800,000	$ 51,300,000
Mortgage Loan Principal Amount			3,000,000.0					$ 10,200,000
Outstanding balance			64,200
Repayments of Debt			$ 59,200	79,200
Mortgages \| Subscription Line 2
Debt Instrument [Line Items]
Notes receivable, net				40,000,000.0					$ 125,700,000
Mortgage Loan Principal Amount									$ 6,500,000
Mortgages \| Subscription Line 3
Debt Instrument [Line Items]
Notes receivable, net								$ 53,100,000
Holdback mortgage loan outstanding				52,000,000.0
SOFR \| Mortgages \| Monroe Marketplace [Member]
Debt Instrument [Line Items]
Debt Instrument Basis Spread On Variable Rate1			2.76%
Fund II \| New Market Tax Credit
Debt Instrument [Line Items]
Percentage of tax credits on qualifying invested equity loans		39.00%
Transfer of tax credit transactions to investors exchange amount						$ 5,200,000
Redemption of loan expiration period			7 years
Fund II \| Realized and Unrealized Holding Gains on Investments and Other \| New Market Tax Credit
Debt Instrument [Line Items]
Income recognized from tax credit transactions			$ 5,000,000.0		$ 1,400,000
Fund II \| City Point Project \| New Market Tax Credit
Debt Instrument [Line Items]
Income recognized from tax credit transactions		$ 5,000,000.0
Fund II \| Mortgages
Debt Instrument [Line Items]
Notes receivable, net				200,000,000.0
Maturity date			Aug. 11, 2022
Short-term Debt, Refinanced, Amount			$ 18,500,000
Loans Payable			$ 16,800,000
Fund II \| LIBOR \| Mortgages
Debt Instrument [Line Items]
Debt Instrument Basis Spread On Variable Rate1			2.75%
Fund IV
Debt Instrument [Line Items]
Repayments of debt			$ 23,500,000
Scheduled principal payment			$ 8,600,000
Fund IV \| Bridge facility
Debt Instrument [Line Items]
LIBOR plus			2.50%				2.00%
LIBOR floor			0.25%
Fund IV \| Mortgages
Debt Instrument [Line Items]
Holdback mortgage loan				67,400,000
Fund loans repaid				8,000,000.0
Fund IV \| Mortgages One
Debt Instrument [Line Items]
Repayments of debt				$ 11,600,000
Core Portfolio
Debt Instrument [Line Items]
Derivative, notional amount			$ 539,369,000
Core Portfolio \| Disposed of by sale
Debt Instrument [Line Items]
Repayments of debt			$ 6,700,000
Core Portfolio \| Mortgages \| Brandywine Portfolio
Debt Instrument [Line Items]
Gain (loss) on litigation settlement	$ 30,000,000.0
Acquisition of noncontrolling interest	15,900,000
Core Portfolio \| Mortgages \| Brandywine Portfolio \| Realized and Unrealized Holding Gains on Investments and Other
Debt Instrument [Line Items]
Proportionate share	4,100,000
Gain on debt extinguishment	$ 18,300,000
Core Portfolio \| Mortgages \| Brandywine Portfolio \| Acadia's OP Ownership
Debt Instrument [Line Items]
Equity interest held by Operating Partnership	78.22%

Debt - Unsecured Notes Payable - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 30, 2021	Sep. 30, 2021	Sep. 29, 2021	Dec. 31, 2020	Jul. 01, 2020
Debt Instrument [Line Items]
Long-term debt outstanding	$ 1,819,738,000				$ 1,713,274,000
Maximum borrowing capacity	900,000,000.0
Letters of credit, outstanding amount	$ 19,700,000				35,600,000
Fund IV \| SOFR
Debt Instrument [Line Items]
Debt Instrument Basis Spread On Variable Rate1	2.01%
Fund Portfolio \| Fund II
Debt Instrument [Line Items]
Long-term debt outstanding	$ 255,978,000				228,282,000
Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	700,000,000.0
Unsecured Debt \| Fund IV \| Letter of Credit
Debt Instrument [Line Items]
Letters of credit, outstanding amount					3,600,000
Unsecured Debt \| Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding	$ 400,000,000				380,000,000
Term Loan
Debt Instrument [Line Items]
Term loan			$ 0		30,000,000.0	$ 30,000,000.0
Debt instrument, maturity date	Jun. 30, 2021
LIBOR plus						2.55%
LIBOR floor						0.75%
Term Loan \| Maximum
Debt Instrument [Line Items]
Debt available balance						$ 90,000,000.0
Secured Debt \| Fund II
Debt Instrument [Line Items]
LIBOR plus	2.25%			1.65%
Maturity Date	2022-09
Unsecured Notes Payable \| Unsecured Debt
Debt Instrument [Line Items]
Debt available balance	$ 16,300,000				128,700,000
Unsecured Notes Payable \| Unsecured Debt \| Fund Portfolio \| Fund II
Debt Instrument [Line Items]
Long-term debt outstanding	$ 40,000,000				40,000,000
$400 Million Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Debt Instrument Basis Spread On Variable Rate1	1.55%
Maximum borrowing capacity	$ 400,000,000.0
$400 Million Term Loan \| Unsecured Debt \| Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding	400,000,000.0
Three Hundred And Fifty Millions Term Loan \| Unsecured Debt \| Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding					350,000,000.0
Term Loan Maturing In September 2020 \| Secured Debt \| Fund II
Debt Instrument [Line Items]
Maximum borrowing capacity	40,000,000.0
Long-term line of credit, noncurrent	40,000,000.0				40,000,000.0
Remaining borrowing capacity	0				0
Subscription Line \| Unsecured Debt \| Fund IV
Debt Instrument [Line Items]
Maximum borrowing capacity	5,000,000.0
Long-term line of credit, noncurrent	$ 5,000,000.0				900,000
Remaining borrowing capacity					500,000
Subscription Line \| Unsecured Debt \| Fund V
Debt Instrument [Line Items]
LIBOR plus	1.90%	1.60%
Maximum borrowing capacity	$ 150,000,000.0
Maturity Date	2022-05
Subscription Line \| Unsecured Debt \| Fund V \| Letter of Credit
Debt Instrument [Line Items]
Letters of credit, outstanding amount	$ 15,700,000				21,500,000
Subscription Line \| Unsecured Debt \| Fund Portfolio \| Fund V
Debt Instrument [Line Items]
Long-term debt outstanding	118,028,000				250,000
Remaining borrowing capacity	$ 16,300,000				$ 128,200,000

Debt - Unsecured Revolving Lines of Credit - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Feb. 28, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 900,000,000.0
Letters of credit, outstanding amount	19,700,000	$ 35,600,000
Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	700,000,000.0
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	300,000,000.0
Revolving Credit Facility \| Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	50,000,000.0		$ 250,000,000.0
Core Portfolio \| Revolving Credit Facility \| Unsecured Debt
Debt Instrument [Line Items]
Debt available balance	183,100,000	101,100,000
Maximum borrowing capacity	300,000,000.0
Credit facility amount outstanding	112,900,000	138,400,000
Letters of credit, outstanding amount	4,000,000.0	10,500,000
Unsecured revolving line of credit	$ 66,400,000	$ 138,400

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt - Scheduled Principal Repayments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 757,199
2023	110,541
2024	212,020
2025	178,236
2026	445,967
Thereafter	115,775
Long-term debt and convertible notes payable	1,819,738	$ 1,713,274
Unamortized Premium	446	548
Net unamortized debt issuance costs	(7,946)	(5,978)
Total Indebtedness	$ 1,812,238	$ 1,707,844

Debt - Scheduled Principal Repayments - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Contractual due 2022	$ 757,199
Contractual due 2023	110,541
Contractual due 2024	212,020
Contractual due 2025	178,236
Debt With Extension Options
Debt Instrument [Line Items]
Contractual due 2022	187,200
Contractual due 2023	41,500
Contractual due 2024	0
Contractual due 2025	$ 112,900
Consolidated debt, Extension Term	12 months
Consolidated debt, Extension Term (Thereafter)	12 months

Financial Instruments and Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Derivative financial instruments	$ 7	$ 1
Liabilities
Derivative financial instruments	45,027	89,612
Recurring \| Level 1
Assets
Money market funds	0	0
Derivative financial instruments
Investment in Albertsons (Note 4)	124,316	72,391
Liabilities
Derivative financial instruments
Recurring \| Level 2
Assets
Money market funds	0	0
Derivative financial instruments	7	1
Investment in Albertsons (Note 4)
Liabilities
Derivative financial instruments	45,027	89,612
Recurring \| Level 3
Assets
Money market funds	0	0
Derivative financial instruments
Investment in Albertsons (Note 4)
Liabilities
Derivative financial instruments

Financial Instruments and Fair Value Measurements - Schedule of Items Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Impairment charges			$ 9,925	$ 85,598	$ 1,721
Fair Value, Measurements, Nonrecurring
Derivatives, Fair Value [Line Items]
Impairment charges			$ 2,294	$ 20,594	$ 395
Fair Value, Measurements, Nonrecurring \| Cortlandt Crossing, Mohegan Lake, NY \| Fund III \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period, reduced projected operating income
Impairment charges				$ 6,726
Fair Value, Measurements, Nonrecurring \| 654 Broadway, New York, NY \| Fund III \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period
Impairment charges				$ 1,570
Fair Value, Measurements, Nonrecurring \| 146 Geary Street, San Francisco, CA \| Fund IV \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period, reduced projected operating income
Impairment charges				$ 1,553
Fair Value, Measurements, Nonrecurring \| 801 Madison Avenue, New York, NY \| Fund IV \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Impairment charges				$ 2,551
Fair Value, Measurements, Nonrecurring \| 801 Madison Avenue, New York, NY \| Fund IV \| Level 3 Inputs Fair Value of Net Assets Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period, reduced projected operating income
Impairment charges				$ 11,031
Fair Value, Measurements, Nonrecurring \| 717 N. Michigan Avenue, Chicago, IL \| Fund IV \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period, reduced projected operating income
Impairment charges				$ 4,021
Fair Value, Measurements, Nonrecurring \| 110 University, New York, NY \| Fund IV \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period, reduced projected operating income
Impairment charges				$ 3,754
Fair Value, Measurements, Nonrecurring \| Fifth Wall Investment \| Core Portfolio \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Decline in fair value
Impairment charges				$ 419
Fair Value, Measurements, Nonrecurring \| Fifth Wall Investment \| Core Portfolio \| Level 3 Inputs Fair Value of Net Assets Projections
Derivatives, Fair Value [Line Items]
Impairment charges				$ 419
Fair Value, Measurements, Nonrecurring \| 210 Bowery Residential Units \| Fund IV \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event			Reduced projected operating income
Impairment charges			$ 697
Fair Value, Measurements, Nonrecurring \| 210 Bowery Residential Units \| Fund IV \| Level 3 Inputs Fair Value of Net Assets Projections
Derivatives, Fair Value [Line Items]
Triggering Event					Reduced selling price
Impairment charges	$ 74	$ 321
Fair Value, Measurements, Nonrecurring \| 27 E. 61st Street Manhattan, NY \| Fund IV \| Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event			Reduced projected operating income
Impairment charges			$ 1,597

Financial Instruments and Fair Value Measurements - Schedule of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Feb. 29, 2020
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (45,027)	$ (89,612)
Derivative Assets	7	1
Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	16,700	30,400	$ 50,000
Fund IV \| Interest Rate Caps \| Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	23,316
Core Portfolio
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	539,369
Fair value, derivatives, net	(40,650)	(74,990)
Core Portfolio \| Interest Rate Swaps \| Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	539,369
Fair value, liability derivatives	$ (40,650)	(74,990)
Core Portfolio \| Interest Rate Swaps \| Minimum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2012-12
Derivative Maturity Date	2022-03
Strike Rate	1.71%
Core Portfolio \| Interest Rate Swaps \| Maximum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2020-07
Derivative Maturity Date	2030-07
Strike Rate	3.77%
Fund Portfolio \| Fund II
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 45,000
Fair value, derivatives, net		(219)
Fund Portfolio \| Fund II \| Interest Rate Swaps \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2014-10
Derivative Maturity Date	2021-11
Fair value, liability derivatives		(219)
Fund Portfolio \| Fund II \| Interest Rate Swaps \| Minimum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Strike Rate	1.49%
Fund Portfolio \| Fund II \| Interest Rate Swaps \| Maximum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Strike Rate	1.49%
Fund Portfolio \| Fund II \| Interest Rate Caps \| Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 45,000
Derivative Effective Date	2019-03
Derivative Maturity Date	2022-03
Derivative Assets	$ 0	0
Fund Portfolio \| Fund II \| Interest Rate Caps \| Minimum \| Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.50%
Fund Portfolio \| Fund II \| Interest Rate Caps \| Maximum \| Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.50%
Fund Portfolio \| Fund IV
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 94,654
Fair value, derivatives, net	(160)	(1,185)
Fund Portfolio \| Fund IV \| Interest Rate Swaps \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Assets		(1,186)
Fund Portfolio \| Fund IV \| Interest Rate Swaps \| Other Assets
Derivatives, Fair Value [Line Items]
Derivative Assets	$ (167)
Fund Portfolio \| Fund IV \| Interest Rate Swaps \| Minimum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2017-03
Derivative Maturity Date	2022-04
Fund Portfolio \| Fund IV \| Interest Rate Swaps \| Minimum \| Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	1.48%
Fund Portfolio \| Fund IV \| Interest Rate Swaps \| Maximum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-12
Derivative Maturity Date	2022-12
Fund Portfolio \| Fund IV \| Interest Rate Swaps \| Maximum \| Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	2.61%
Fund Portfolio \| Fund IV \| Interest Rate Caps \| Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 71,338
Derivative Assets	$ 7	1
Fund Portfolio \| Fund IV \| Interest Rate Caps \| Minimum \| Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2020-12
Derivative Maturity Date	2022-12
Strike Rate	3.00%
Fund Portfolio \| Fund IV \| Interest Rate Caps \| Maximum \| Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2021-07
Derivative Maturity Date	2023-07
Strike Rate	3.50%
Fund Portfolio \| Fund V
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 297,731
Fair value, derivatives, net	(4,210)	(13,217)
Fund Portfolio \| Fund V \| Interest Rate Swaps \| Other Assets
Derivatives, Fair Value [Line Items]
Derivative Assets	$ (4,210)	$ (13,217)
Fund Portfolio \| Fund V \| Interest Rate Swaps \| Minimum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2018-06
Derivative Maturity Date	2022-02
Fund Portfolio \| Fund V \| Interest Rate Swaps \| Minimum \| Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	0.23%
Fund Portfolio \| Fund V \| Interest Rate Swaps \| Maximum \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2021-02
Derivative Maturity Date	2024-10
Fund Portfolio \| Fund V \| Interest Rate Swaps \| Maximum \| Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	2.88%
Fund Portfolio \| Fund V \| Interest Rate Caps \| Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 297,731

Financial Instruments and Fair Value Measurements - Schedule of Derivative Financial Instruments (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Feb. 29, 2020
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (45,027)	$ (89,612)
Core Portfolio
Derivatives, Fair Value [Line Items]
Derivative, notional amount	539,369
Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 16,700	$ 30,400	$ 50,000

Financial Instruments and Fair Value Measurements - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) SwapSwap	Dec. 31, 2020 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Reclassification adjustment related to derivatives from AOCI to interest expense	$ (15,300,000)
Derivatives designated as fair value hedges	0	$ 0
Derivative designated to hedges of net investments in foreign operations	$ 0	$ 0
Number of forward swaps terminated \| SwapSwap	2
Forward swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, notional amount	$ 100,000,000.0
Cash proceeds from swaps	$ 3,400,000

Financial Instruments and Fair Value Measurements - Schedule of Other Financial Instruments Carrying Values and Fair values (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Notes receivable, net

$ 153,886

$ 100,882

$ 114,943

$ 111,775

Mortgage and Other Notes Payable

1,812,238

1,707,844

Unsecured notes payable and Unsecured line of credit

559,040

420,858

Level 3 | Carrying Amount

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Notes receivable, net

^[1]

153,886

100,882

Mortgage and Other Notes Payable

^[1]

1,143,805

1,153,760

Investment in non-traded equity securities

^[2]

3,656

1,726

Level 3 | Estimated Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Notes receivable, net

^[1]

154,093

101,567

Mortgage and Other Notes Payable

^[1]

1,125,571

1,134,560

Investment in non-traded equity securities

^[2]

4,062

1,456

Level 2 | Carrying Amount

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Unsecured notes payable and Unsecured line of credit

^[3]

675,933

559,514

Level 2 | Estimated Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Unsecured notes payable and Unsecured line of credit

^[3]

$ 680,171

$ 544,532

[1]	The Company determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the borrower or tenant, where applicable, and interest rate risk. The Company also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the borrower, the time until maturity and the current market interest rate environment
[2]	Represents the Operating Partnership’s cost-method investment in Fifth Wall (Note 5)
[3]	The Company determined the estimated fair value of the unsecured notes payable and unsecured line of credit using quoted market prices in an open market with limited trading volume where available. In cases where there was no trading volume, the Company determined the estimated fair value using a discounted cash flow model using a rate that reflects the average yield of similar market participants.

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Contractual obligation	$ 38.1	$ 32.7
Letters of credit, outstanding amount	$ 19.7	$ 35.6

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Common Shares and Units - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Restricted shares
Class of Stock [Line Items]
Restricted stock, shares canceled for tax withholding for share based compensation (in shares)	3,050	2,075
LTIP Units and Restricted Stock
Class of Stock [Line Items]
Unit based compensation expense	$ 9.4	$ 8.4

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - ATM Program - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Weighted Average Share Price	$ 18.29
Purchase new program included an optional forward purchase component			$ 63,876		$ 145,498
ATM Program
Class of Stock [Line Items]
Stock Issued During Period Shares New Issues			2,889,371	0	5,164,055
Gross proceeds			$ 64,900		$ 147,700
Weighted Average Share Price			$ 22.46		$ 28.61
Proceeds from stock plans net of issuance costs			$ 63,900		$ 145,500
Purchase new program included an optional forward purchase component		$ 250,000

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Share Repurchases - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2018
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Authorized amount					$ 200,000,000.0
Number of shares repurchased during period (in shares)	1,219,065		0
Shares repurchased during period	$ 22,400,000	$ 22,386,000	$ 0
Weighted Average Share Price	$ 18.29
Stock repurchase fees	$ 100,000
Remaining authorized repurchase amount				$ 122,600,000

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Schedule of Distributions Declared and paid (Details) - $ / shares							3 Months Ended		12 Months Ended
	Nov. 03, 2021	Aug. 05, 2021	May 05, 2021	Mar. 15, 2021	Feb. 26, 2020	Nov. 05, 2019	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Cash dividends declared per common share (in dollars per share)							$ 0.15	$ 0.29	$ 0.60	$ 0.29	$ 1.13
Fourth Quarter Two Thousand Nineteen
Class of Stock [Line Items]
Cash dividends, declared date									Nov. 05, 2019
Cash dividends declared per common share (in dollars per share)						$ 0.29
Cash dividends, record date									Dec. 31, 2019
Cash dividends, paid date									Jan. 15, 2020
First Quarter Two Thousand Twenty
Class of Stock [Line Items]
Cash dividends, declared date									Feb. 26, 2020
Cash dividends declared per common share (in dollars per share)					$ 0.29
Cash dividends, record date									Mar. 31, 2020
Cash dividends, paid date									Apr. 15, 2020
First Quarter Two Thousand Twenty One
Class of Stock [Line Items]
Cash dividends, declared date									Mar. 15, 2021
Cash dividends declared per common share (in dollars per share)				$ 0.15
Cash dividends, record date									Mar. 31, 2021
Cash dividends, paid date									Apr. 15, 2021
Second Quarter Two Thousand Twenty One
Class of Stock [Line Items]
Cash dividends, declared date									May 05, 2021
Cash dividends declared per common share (in dollars per share)			$ 0.15
Cash dividends, record date									Jun. 30, 2021
Cash dividends, paid date									Jul. 15, 2021
Third Quarter Two Thousand Twenty One
Class of Stock [Line Items]
Cash dividends, declared date									Aug. 05, 2021
Cash dividends declared per common share (in dollars per share)		$ 0.15
Cash dividends, record date									Sep. 30, 2021
Cash dividends, paid date									Oct. 15, 2021
Fourth Quarter Two Thousand twenty one
Class of Stock [Line Items]
Cash dividends, declared date									Nov. 03, 2021
Cash dividends declared per common share (in dollars per share)	$ 0.15
Cash dividends, record date									Dec. 31, 2021
Cash dividends, paid date									Jan. 14, 2022

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Dividends and Distributions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
Preferred Stock
Class of Stock [Line Items]
Distributions payable	$ 0.1	$ 0.1	$ 0.1

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Summary of Activity in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ 2,050,204	$ 2,188,390	$ 2,082,757
Other comprehensive loss before reclassifications - swap agreements	30,500	(73,686)	(35,883)
Reclassification of realized interest on swap agreements	21,407	15,059	(870)
Net current period other comprehensive loss	51,907	(58,627)	(36,753)
Balance	2,149,935	2,050,204	2,188,390
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(74,891)	(31,474)	516
Balance	(36,214)	(74,891)	(31,474)
AOCI Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net current period other comprehensive loss	$ (13,230)	$ 15,210	$ 4,763

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Summary of Change in Noncontrolling Interest (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

$ 609,165

Net income

26,030

$ (65,718)

$ 23,234

Other comprehensive income (loss) - unrealized gain (loss) on valuation of swap agreements

30,500

(73,686)

(35,883)

Reclassification of realized interest on swap agreements

(21,407)

(15,059)

870

Noncontrolling interest contributions

30,164

52,174

161,365

Noncontrolling interest distributions

(27,051)

(27,574)

(94,283)

Employee Long-term Incentive Plan Unit Awards

12,430

10,912

10,006

Acquisition of noncontrolling interest asset

(588)

Ending Balance

628,322

609,165

Noncontrolling Interests in Partially-Owned Affiliates

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

519,734

549,720

Ending Balance

519,734

549,720

Operating Partnership, as General Partner or Managing Member

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

89,431

96,719

Ending Balance

89,431

96,719

Noncontrolling Interests

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

609,165

646,439

623,982

Distributions declared per Common OP Unit

(4,185)

(2,218)

(7,124)

Net income

2,482

(56,742)

(30,483)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(1,431)

(6,544)

(5,104)

Cancellation of OP Units

^[1]

(568)

Other comprehensive income (loss) - unrealized gain (loss) on valuation of swap agreements

5,990

(20,704)

(4,845)

Reclassification of realized interest on swap agreements

7,240

5,494

Noncontrolling interest contributions

30,164

52,174

161,365

Noncontrolling interest distributions

(27,051)

(27,574)

(94,283)

Employee Long-term Incentive Plan Unit Awards

11,284

10,130

9,460

Reallocation of noncontrolling interests

(4,768)

(7,197)

(6,611)

^[1]

Acquisition of noncontrolling interest asset

15,918

Ending Balance

628,322

609,165

646,439

Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

519,734

^[2]

548,769

519,759

Distributions declared per Common OP Unit

^[2]

Net income

407

^[2]

(56,867)

(34,319)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

^[2]

Cancellation of OP Units

^[1],[2]

Other comprehensive income (loss) - unrealized gain (loss) on valuation of swap agreements

3,918

^[2]

(17,995)

(2,946)

Reclassification of realized interest on swap agreements

7,030

^[2]

5,320

144

Noncontrolling interest contributions

30,164

^[2]

52,174

161,365

Noncontrolling interest distributions

(27,051)

^[2]

(27,574)

(94,283)

Employee Long-term Incentive Plan Unit Awards

^[2]

Reallocation of noncontrolling interests

^[2]

Acquisition of noncontrolling interest asset

15,918

Ending Balance

534,202

^[2]

519,734

^[2]

548,769

Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates | Cumulative Effect of Change in Accounting Principle

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

(11)

Ending Balance

(11)

Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

89,431

^[3]

97,670

104,223

Distributions declared per Common OP Unit

(4,185)

^[3]

(2,218)

(7,124)

Net income

2,075

^[3]

125

3,836

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(1,431)

^[3]

(6,544)

(5,104)

Cancellation of OP Units

^[1],[3]

(568)

Other comprehensive income (loss) - unrealized gain (loss) on valuation of swap agreements

2,072

^[3]

(2,709)

(1,899)

Reclassification of realized interest on swap agreements

210

^[3]

174

(62)

Noncontrolling interest contributions

^[3]

Noncontrolling interest distributions

^[3]

Employee Long-term Incentive Plan Unit Awards

11,284

^[3]

10,130

9,460

Reallocation of noncontrolling interests

(4,768)

^[3]

(7,197)

(6,611)

^[1]

Acquisition of noncontrolling interest asset

Ending Balance

94,120

^[3]

89,431

^[3]

$ 97,670

Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member | Noncontrolling Interests in Partially-Owned Affiliates | Cumulative Effect of Change in Accounting Principle

Increase Decrease In Stockholders Equity [Roll Forward]

Beginning Balance

Ending Balance

[1]	Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.
[2]	Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and five other subsidiaries.
[3]	Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,076,849, 3,101,958, and 3,250,603 Common OP Units at December 31, 2021, 2020 and 2019, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2021, 2020 and 2019; (iii) 126,593 Series C Preferred OP Units at December 31, 2021 and 2020, and 136,593 at December 31, 2019; and (iv) 3,371,296, 2,886,207, and 2,673,484 LTIP units at December 31, 2021, 2020 and 2019, respectively, as discussed in Share Incentive Plan (Note 14). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above.

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Summary of Change in Noncontrolling Interest (Parenthetical) (Details) - $ / shares	3 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Minority Interest [Line Items]
Distributions declared (in dollars per share)	$ 0.15	$ 0.29	$ 0.60	$ 0.29	$ 1.13
Conversion of Common OP Units to Common Shares by limited partners of the Operating Partnership (in shares)			89,765	407,594	307,663
Series A Preferred OP Units (in shares)	3,076,849	3,250,603	3,076,849	3,101,958	3,250,603
LTIP units outstanding (in shares)	3,371,296	2,673,484	3,371,296	2,886,207	2,673,484
Series A Preferred Stock
Minority Interest [Line Items]
Series A Preferred OP Units (in shares)	188	188	188	188	188
Operating Partnership, as General Partner or Managing [Member] \| Series C Preferred Stock
Minority Interest [Line Items]
Series A Preferred OP Units (in shares)	126,593	136,593	126,593	126,593	136,593

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Preferred OP Units - Additional Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2016	Dec. 31, 2020
Class of Stock [Line Items]
Series A Preferred OP Units (in shares)	3,076,849	3,250,603		3,101,958
Denominator for Series A Preferred OP Unit conversion	$ 7.50
Common Shares
Class of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)	2,889,000	5,164,000
Gotham Plaza \| Common Shares
Class of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)			442,478
Preferred quarterly distribution per share price			$ 0.9375
Number of convertible units if share price below $28.80 (in shares)			3.4722
Number of convertible units if share price above $35.20 (in shares)			2.8409
Preferred OP Units
Class of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)	0
Preferred OP Units \| Gotham Plaza
Class of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)			141,593
Share price (in dollars per share)			$ 100.00
Preferred OP Units \| Gotham Plaza \| Minimum
Class of Stock [Line Items]
Share price at conversion date			28.80
Preferred OP Units \| Gotham Plaza \| Maximum
Class of Stock [Line Items]
Share price at conversion date			$ 35.20
Series A Preferred Stock
Class of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)	1,580
Preferred stock, stated value per unit	$ 1.000
Per unit conversion amount, Series A Preferred OP Units (in dollars per unit)	$ 22.50
Per unit conversion annual rate, Preferred OP Units	9.00%
Number of preferred OP Units converted (in shares)	1,392
Units converted from Preferred OP Units (in shares)	185,600
Series A Preferred OP Units (in shares)	188	188		188
Series C Preferred Stock \| Gotham Plaza
Class of Stock [Line Items]
Number of preferred OP Units converted (in shares)	15,000
Units converted from Preferred OP Units (in shares)	51,887

Leases - Additional Information (Details) $ in Thousands		12 Months Ended
Leases - Additional Information (Details) $ in Thousands	Sep. 24, 2021 USD ($)	Dec. 31, 2021 USD ($) Agreement	Dec. 31, 2020 USD ($) Item Agreement	Dec. 31, 2019 USD ($)
Operating Leased Assets [Line Items]
Variable lease revenues		$ 58,300	$ 57,100
Payments to Tenant	$ 5,400
Part payment received from tenant	$ 300
Lease agreement purchase price			14,500
Operating lease right-of-use asset		40,743	76,268	$ 60,000
Lease liability - operating lease		38,759	88,816	58,000
Gain (loss) on termination of lease		3,615	0	0
Gain on disposition of properties		10,521	683	30,324
Net income		26,030	(65,718)	23,234
Impairment charges		9,925	85,598	$ 1,721
COVID-19
Operating Leased Assets [Line Items]
Net income		16,300	134,000
Pro rata earnings		8,600	53,100
Aggregate credit losses and rent abatements		6,400	48,400
Pro rata credit losses and rent abatements		6,300	32,500
Impairment charges		9,900	85,600
Pro rata asset impairment charges		$ 2,300	$ 20,600
Number of rent concession agreements \| Agreement		96	288
Number of rent concession agreements for rent deferral \| Agreement		18	226
Number of rent concession agreements for rent abatements \| Agreement		78	60
Number of rent concession agreements accounted as no change in contract \| Agreement		16
Deferred receivables		$ 5,400	$ 10,600
Rent abatements		6,500	1,900
Pro rata rent abatement		$ 4,300	$ 2,600
Pro rata core leased occupancy rate percentage		93.20%	90.90%
Pro rata fund leased occupancy rate percentage		91.40%	88.30%
COVID-19 \| Core Portfolio
Operating Leased Assets [Line Items]
Percentage of rent collections		98.00%	91.00%
COVID-19 \| Opportunity Funds
Operating Leased Assets [Line Items]
Percentage of rent collections		94.00%	82.00%
Fund IV Property
Operating Leased Assets [Line Items]
Operating lease right-of-use asset		$ 31,400
Termination cost		3,600
Lease liability - operating lease		46,000
Building improvements and other assets		10,300
Gain (loss) on termination of lease		700
Gain on disposition of properties		200
Impairment charge of right-of-use asset			$ 12,300
BSP II
Operating Leased Assets [Line Items]
Number of operating lease \| Item			1
Branch Plaza
Operating Leased Assets [Line Items]
Number of operating lease \| Item			1
Operating Lease term			22 years
1238 Wisconsin
Operating Leased Assets [Line Items]
Lease agreement purchase price			$ 11,500
Operating lease right-of-use asset			1,900
Operating lease liability			$ 1,900
Accounting Standards Update 2016-02 \| 991 Madison Avenue Manhattan, NY
Operating Leased Assets [Line Items]
Capital lease term			49 years
Operating Lease term			15 years
Office Lease
Operating Leased Assets [Line Items]
Number of operating lease \| Item			1
Operating lease right-of-use asset			$ 1,700
Lease liability - operating lease			$ 1,700
Rye Corporate Office Lease
Operating Leased Assets [Line Items]
Operating lease right-of-use asset		400
Operating lease liability		$ 400
Minimum
Operating Leased Assets [Line Items]
Operating lease term		1 month
Minimum \| Consolidated Total Revenues \| Customer Concentration Risk
Operating Leased Assets [Line Items]
Concentration risk, percentage		10.00%	10.00%	10.00%
Maximum
Operating Leased Assets [Line Items]
Operating lease term		60 years

Leases - Activity for Reserves Related to Billed Rents and Straight-line Rents (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Leased Assets [Line Items]
Balance at Beginning of Period	$ 45,009	$ 11,408
Provision (Recovery), Net	(114)	46,440
Write-Offs	(6,424)	(12,839)
Balance at End of Period	38,471	45,009
Allowance for Credit Loss - Billed Rents
Operating Leased Assets [Line Items]
Balance at Beginning of Period	30,170	6,669
Provision (Recovery), Net	(2,796)	24,569
Write-Offs	(3,788)	(1,068)
Balance at End of Period	23,586	30,170
Straight-line Rent Reserves
Operating Leased Assets [Line Items]
Balance at Beginning of Period	14,839	4,739
Provision (Recovery), Net	2,682	21,871
Write-Offs	(2,636)	(11,771)
Balance at End of Period	$ 14,885	$ 14,839

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Amortization of right-of-use assets	$ 903	$ 1,595
Interest on lease liabilities	388	1,635
Subtotal	1,291	3,230
Operating lease cost	7,184	7,661
Variable lease cost	84	143
Total lease cost	$ 8,559	$ 11,034
Weighted-average remaining lease term - finance leases (years)	32 years 7 months 6 days	33 years 4 months 24 days
Weighted-average remaining lease term - operating leases (years)	14 years 1 month 6 days	26 years 4 months 24 days
Weighted-average discount rate - finance leases	6.30%	6.20%
Weighted-average discount rate - operating leases	5.10%	5.60%

Leases - Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Minimum Rental Revenues
2022	$ 211,660
2023	202,890
2024	178,050
2025	146,624
2026	118,052
Thereafter	480,093
Total	1,337,369
Minimum Rental Payments, Operating Leases
2022	5,368
2023	5,389
2024	5,414
2025	5,329
2026	5,173
Thereafter	24,434
Total before interest	51,107
Interest	(12,348)
Lease liability - operating lease	38,759	$ 88,816	$ 58,000
Minimum Rental Payments, Finance Leases
2022	34
2023	0
2024	0
2025	0
2026	0
Thereafter	12,515
Total before interest	12,549
Interest	(5,937)
Total	$ 6,612	$ 6,287

Leases - Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases (Parenthetical) (Details) $ in Millions	Dec. 31, 2021 USD ($)
Leases [Abstract]
Minimum rental payments of interest related to finance lease	$ 5.9
Minimum rental payments of interest related to operating lease	$ 18.3

Segment Reporting - Additional Information (Details)	12 Months Ended
Segment Reporting - Additional Information (Details)	Dec. 31, 2021 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Summary of Segment Information (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Segment Reporting Information [Line Items]

Total revenues

$ 292,497

$ 250,908

$ 289,585

Depreciation and amortization

(123,439)

(147,229)

(122,580)

Property operating expenses, other operating and real estate taxes

(98,873)

(98,028)

(88,231)

General and administrative expenses

(40,125)

(35,798)

(34,299)

Impairment charges

(9,925)

(85,598)

(1,721)

Gain on disposition of properties

10,521

683

30,324

Operating income

30,656

(115,062)

73,078

Interest income

9,065

8,979

7,988

Equity in earnings of unconsolidated affiliates

5,330

(3,057)

5,899

Interest expense

(68,048)

(69,671)

(69,213)

Realized and unrealized holding gains (losses) on investments and other

49,120

113,362

6,947

Income tax provision

(93)

(269)

(1,465)

Net income (loss)

26,030

(65,718)

23,234

Net (income) loss attributable to noncontrolling interests

(2,482)

56,742

30,483

Net income (loss) attributable to Acadia

23,548

(8,976)

53,717

Real estate at cost

4,071,607

^[1]

4,011,326

^[1]

3,960,411

Total Assets

4,261,746

^[1]

4,131,069

^[1]

4,251,695

Cash paid for acquisition of real estate and leasehold interest

161,846

21,208

319,673

Cash paid for development and property improvement costs

40,671

36,579

89,385

Cash paid for acquisition of real estate

358,704

Operating Segments | Core Portfolio

Segment Reporting Information [Line Items]

Total revenues

181,332

160,262

173,177

Depreciation and amortization

(69,103)

(76,125)

(61,819)

Property operating expenses, other operating and real estate taxes

(56,957)

(57,246)

(47,032)

General and administrative expenses

Impairment charges

(419)

Gain on disposition of properties

4,612

174

16,771

Operating income

59,884

26,646

81,097

Interest income

Equity in earnings of unconsolidated affiliates

(353)

(874)

9,020

Interest expense

(29,454)

(33,185)

(28,304)

Realized and unrealized holding gains (losses) on investments and other

18,564

327

Income tax provision

Net income (loss)

30,783

11,151

62,140

Net (income) loss attributable to noncontrolling interests

(2,276)

(5,837)

337

Net income (loss) attributable to Acadia

28,507

5,314

62,477

Real estate at cost

2,356,645

^[1]

2,330,116

^[1]

2,252,230

Total Assets

2,212,877

^[1]

2,254,680

^[1]

2,350,833

Cash paid for acquisition of real estate and leasehold interest

26,176

19,963

Cash paid for development and property improvement costs

13,625

11,170

22,724

Cash paid for acquisition of real estate

173,892

Operating Segments | Opportunity Funds

Segment Reporting Information [Line Items]

Total revenues

111,165

90,646

116,408

Depreciation and amortization

(54,336)

(71,104)

(60,761)

Property operating expenses, other operating and real estate taxes

(41,916)

(40,782)

(41,199)

General and administrative expenses

Impairment charges

(9,925)

(85,179)

(1,721)

Gain on disposition of properties

5,909

509

13,553

Operating income

10,897

(105,910)

26,280

Interest income

Equity in earnings of unconsolidated affiliates

(4,977)

(2,183)

(3,121)

Interest expense

(38,594)

(36,486)

(40,909)

Realized and unrealized holding gains (losses) on investments and other

53,654

95,366

6,620

Income tax provision

Net income (loss)

(30,934)

(49,213)

(11,130)

Net (income) loss attributable to noncontrolling interests

(206)

62,579

30,146

Net income (loss) attributable to Acadia

30,728

13,366

19,016

Real estate at cost

1,714,962

^[1]

1,681,210

^[1]

1,708,181

Total Assets

1,894,983

^[1]

1,775,507

^[1]

1,785,919

Cash paid for acquisition of real estate and leasehold interest

135,670

1,245

Cash paid for development and property improvement costs

27,046

25,409

66,661

Cash paid for acquisition of real estate

184,812

Operating Segments | Structured Financing

Segment Reporting Information [Line Items]

Total revenues

Depreciation and amortization

Property operating expenses, other operating and real estate taxes

General and administrative expenses

Impairment charges

Gain on disposition of properties

Operating income

Interest income

9,065

8,979

7,988

Equity in earnings of unconsolidated affiliates

Interest expense

Realized and unrealized holding gains (losses) on investments and other

(4,534)

(568)

Income tax provision

Net income (loss)

4,531

8,411

7,988

Net (income) loss attributable to noncontrolling interests

Net income (loss) attributable to Acadia

4,531

8,411

7,988

Real estate at cost

Total Assets

153,886

^[1]

100,882

^[1]

114,943

Cash paid for acquisition of real estate and leasehold interest

Cash paid for development and property improvement costs

Cash paid for acquisition of real estate

Unallocated

Segment Reporting Information [Line Items]

Total revenues

Depreciation and amortization

Property operating expenses, other operating and real estate taxes

General and administrative expenses

40,125

(35,798)

(34,299)

Impairment charges

Gain on disposition of properties

Operating income

(40,125)

(35,798)

(34,299)

Interest income

Equity in earnings of unconsolidated affiliates

Interest expense

Realized and unrealized holding gains (losses) on investments and other

Income tax provision

(93)

(269)

(1,465)

Net income (loss)

(40,218)

(36,067)

(35,764)

Net (income) loss attributable to noncontrolling interests

Net income (loss) attributable to Acadia

(40,218)

(36,067)

(35,764)

Real estate at cost

Total Assets

Cash paid for acquisition of real estate and leasehold interest

Cash paid for development and property improvement costs

Cash paid for acquisition of real estate

[1]	Real estate at cost and total assets for the Funds segment include $657.0 million and $641.7 million, or $190.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2021 and 2020, respectively.

Segment Reporting - Summary of Segment Information (Parenthetical) (Details) - USD ($)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Segment Reporting Information [Line Items]

Net income (loss) attributable to Acadia

$ 23,548,000

$ (8,976,000)

$ 53,717,000

Real estate at cost

4,071,607,000

^[1]

4,011,326,000

^[1]

3,960,411,000

Total Assets

4,261,746,000

^[1]

4,131,069,000

^[1]

4,251,695,000

Net (income) loss attributable to noncontrolling interests

2,482,000

(56,742,000)

(30,483,000)

Funds | Fund II's City Point Property

Segment Reporting Information [Line Items]

Real estate at cost

657,000.0

Total Assets

641,700

Net (income) loss attributable to noncontrolling interests

190,900

186,500

Operating Segments | Core Portfolio

Segment Reporting Information [Line Items]

Net income (loss) attributable to Acadia

28,507,000

5,314,000

62,477,000

Real estate at cost

2,356,645,000

^[1]

2,330,116,000

^[1]

2,252,230,000

Total Assets

2,212,877,000

^[1]

2,254,680,000

^[1]

2,350,833,000

Net (income) loss attributable to noncontrolling interests

2,276,000

5,837,000

(337,000)

Operating Segments | Funds

Segment Reporting Information [Line Items]

Net income (loss) attributable to Acadia

30,728,000

13,366,000

19,016,000

Real estate at cost

1,714,962,000

^[1]

1,681,210,000

^[1]

1,708,181,000

Total Assets

1,894,983,000

^[1]

1,775,507,000

^[1]

1,785,919,000

Net (income) loss attributable to noncontrolling interests

$ 206,000

$ (62,579,000)

$ (30,146,000)

[1]	Real estate at cost and total assets for the Funds segment include $657.0 million and $641.7 million, or $190.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2021 and 2020, respectively.

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

Share Incentive and Other Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Mar. 23, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit based compensation		$ 12,430	$ 10,912	$ 10,006
Trustee fees		1,600	1,400	1,400
Total unrecognized compensation cost related to nonvested awards		$ 16,900
Weighted-average period over which cost is expected to be recognized		1 year 6 months
Fund V
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of promote awarded as share based compensation award		8.40%
Performance Period Ending December 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		33.30%
Award vesting period		3 years
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares that vested		$ 7,500	7,600
LTIP Units \| Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures		30,321
LTIP Units \| Performance Period Ending December 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		66.70%
Award vesting period		3 years
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares that vested		$ 800	$ 500
Restricted shares \| Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures		30,592
LTIP Units and Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total value of restricted shares and LTIP units as of the grant date		$ 12,600
Weighted average grant date fair value, grants (in dollars per share)		$ 19.51	$ 18.86
LTIP Units and Restricted Stock \| Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Annual vesting rate of shares granted to trustees that begin vesting on the second anniversary of grant date		33.00%
LTIP Units and Restricted Stock \| General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit based compensation		$ 9,400	$ 8,400	8,800
LTIP Units and Restricted Stock \| Performance Period Ending December 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
LTIP Units and Restricted Stock \| Performance Fails To Achieve, Earned Performance-Based Shares Vest At End Of Performance Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		60.00%
LTIP Units and Restricted Stock \| Performance Fails To Achieve
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		40.00%
Award vesting period		2 years
LTIP Units and Restricted Stock \| Minimum \| TSR percentile falls between the 25th percentile and the 50th percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		50.00%
LTIP Units and Restricted Stock \| Minimum \| TSR percentile falls between the 50th percentile and 75th percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		100.00%
LTIP Units and Restricted Stock \| Maximum \| TSR percentile falls between the 25th percentile and the 50th percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		100.00%
LTIP Units and Restricted Stock \| Maximum \| TSR percentile falls between the 50th percentile and 75th percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		200.00%
Employee Benefit Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 400	$ 300	300
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in number of shares authorized	2,650,000
Number of shares authorized		1,911,558
Share Incentive Plan \| LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures		636,646
Share Incentive Plan \| Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures		11,244
Performance Shares 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years	3 years
Volatility rate		48.00%	21.00%
Risk-free interest rates		0.20%	1.40%
Long Term Investment Alignment Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Max percentage of future fund III promote that may be awarded to senior executives					25.00%
Long Term Investment Alignment Program \| Fund III
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of promote awarded as share based compensation award		25.00%
Long Term Investment Alignment Program \| Fund IV
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of promote awarded as share based compensation award		23.10%
Compensation expense		$ 0	$ 0	$ 0
Long Term Investment Alignment Program \| Fund V
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards in connection with fund to have intrinsic value		$ 0

Share Incentive and Other Compensation - Schedule of Unvested Shares and LTIP Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares unvested, Beginning of period (in shares)	89,911	42,390	38,455
Shares granted (in shares)	43,078	66,824	25,359
Shares vested (in shares)	(43,084)	(19,264)	(21,424)
Shares forfeited (in shares)	(159)	(39)	0
Shares unvested, End of period (in shares)	89,746	89,911	42,390
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 15.42	$ 23.73	$ 22.44
Shares granted, Weighted average grant date fair value (in dollars per share)	19.94	13.70	28.56
Shares vested, Weighted average grant date fair value (in dollars per share)	16.85	27.72	27.12
Shares forfeited, Weighted average grant date fair value (in dollars per share)	36.22	24.77	0
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 16.87	$ 15.42	$ 23.73
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares unvested, Beginning of period (in shares)	1,122,889	936,180	891,886
Shares granted (in shares)	666,967	440,829	350,726
Shares vested (in shares)	(283,024)	(250,241)	(290,753)
Shares forfeited (in shares)	(91,637)	(3,879)	(15,679)
Shares unvested, End of period (in shares)	1,415,195	1,122,889	936,180
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 24.38	$ 28.24	$ 26.87
Shares granted, Weighted average grant date fair value (in dollars per share)	19.48	19.64	32.75
Shares vested, Weighted average grant date fair value (in dollars per share)	26.66	30.44	29.30
Shares forfeited, Weighted average grant date fair value (in dollars per share)	36.22	24.67	31.49
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 20.85	$ 24.38	$ 28.24

Share Incentive and Other Compensation - Employee Share Purchase Plan and Deferred Share Plan - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee share purchase discount rate	15.00%
Employee share purchase maximum purchase amount	$ 25,000
2021 Employee Share Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common shares allow for issuance	200,000
Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee share purchase (in shares)	7,721	5,266

Share Incentive and Other Compensation - Employee 401 (k) Plan - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employer matching contribution	50.00%
Maximum annual contribution per employee	6.00%
Maximum employee annual salary contribution	15.00%
Maximum employee annual salary contribution amount	$ 19,500

Federal Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Minimum distribution percentage of annual taxable income to qualify as REIT	90.00%
Maximum percentage of total assets consisting of securities of TRS	20.00%
Deferred tax assets, net	$ 0.0	$ 0.0
Deferred tax assets, applicable reserves	3.7	2.6
Deferred tax assets, capital loss carryforwards	0.1	0.1
Deferred tax assets, operating loss carryforwards	$ 3.6	$ 2.5
Minimum percentage of unrealized deferred tax asset required for qualification of valuation allowance	50.00%
Deferred tax assets valuation allowance	$ 0.9

Federal Income Taxes - Schedule of Reconciliation of Net Income to Taxable Income (Loss) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Net income (loss) attributable to Acadia

$ 23,548

$ (8,976)

$ 53,717

Deferred cancellation of indebtedness income

^[1]

3,209

2,498

1,203

Deferred rental and other income (loss)

^[1]

(24,756)

(27,052)

21,688

Book/tax difference - depreciation and amortization

^[1]

24,756

27,052

21,688

Straight-line rent and above- and below-market rent adjustments

^[1]

8,588

8,630

(10,949)

Book/tax differences - equity-based compensation

7,663

6,825

7,177

Joint venture equity in earnings, net

^[1]

3,962

(163)

15,571

Impairment charges and reserves

2,657

18,734

Acquisition costs

^[1]

Gain on disposition of properties

2,170

4,936

2,375

Book/tax differences - miscellaneous

(1,203)

(36)

(2,145)

Taxable income

53,856

54,518

88,700

Distributions declared

^[2]

$ 52,872

$ 24,937

$ 96,310

[1]	Adjustments from certain subsidiaries and affiliates, which are consolidated for financial reporting but not for tax reporting, are included in the reconciliation item “Joint venture equity in earnings, net.”
[2]	The entire fourth quarter 2021 dividend of $14.4 million (paid in January 2022) was attributed to 2021. Any additional distributions required for REIT qualification may be made through October 15, 2022. The entire fourth quarter 2019 dividend of $25.2 million (paid in January 2020) was attributed to 2020.

Federal Income Taxes - Schedule of Reconciliation of Net Income to Taxable Income (Loss) (Parenthetical) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fourth Quarter Two Thousand twenty one
Income Taxes [Line Items]
Dividends	$ 14,400,000
Dividends payable, month and year	2022-01
Fourth Quarter Two Thousand Nineteen
Income Taxes [Line Items]
Dividends		$ 25,200
Dividends payable, month and year		2020-01

Federal Income Taxes - Schedule of Tax Status of Dividends (Details) - $ / shares

3 Months Ended

12 Months Ended

Dec. 31, 2021

Dec. 31, 2019

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Income Tax Contingency [Line Items]

Total (in dollars per share)

$ 0.15

$ 0.29

$ 0.60

$ 0.29

$ 1.13

Characterization Of Distributions For Federal Income Tax Purposes

Income Tax Contingency [Line Items]

Qualified dividend (in dollars per share)

0.010

Capital gain (in dollars per share)

0.040

0.060

0.240

Total (in dollars per share)

^[1]

$ 0.600

$ 0.580

$ 1.060

Qualified dividend

1.00%

0.00%

Capital gain

7.00%

10.00%

23.00%

Total

^[1]

100.00%

Non-Section 199A | Characterization Of Distributions For Federal Income Tax Purposes

Income Tax Contingency [Line Items]

Ordinary income (in dollars per share)

Ordinary income

Section 199A | Characterization Of Distributions For Federal Income Tax Purposes

Income Tax Contingency [Line Items]

Ordinary income (in dollars per share)

$ 0.550

$ 0.520

$ 0.820

Ordinary income

92.00%

90.00%

77.00%

[1]	The fourth quarter 2021 regular dividend was $0.15 per common share, all of which is allocable to 2021. The fourth quarter 2019 regular dividend was $0.29 per common share, all of which is allocable to 2020.

Federal Income Taxes - Schedule of Tax Status of Dividends (Parenthetical) (Details) - $ / shares	3 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Common Stock Dividends Per Share Declared	$ 0.15	$ 0.29	$ 0.60	$ 0.29	$ 1.13

Federal Income Taxes - Schedule of TRS Income (Loss) and Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
(Provision) benefit for income taxes:
Net income (loss)	$ 26,030	$ (65,718)	$ 23,234
Noncontrolling interests	(2,482)	56,742	30,483
Net income (loss) attributable to Acadia	23,548	(8,976)	53,717
TRS [Member]
Income Tax Contingency [Line Items]
TRS loss before income taxes	(4,240)	(3,856)	(3,117)
(Provision) benefit for income taxes:
Federal	0	376	754
State and local	0	(268)	317
Net income (loss)	(4,240)	(3,748)	(2,046)
Noncontrolling interests	9	746	(369)
Net income (loss) attributable to Acadia	$ (4,231)	$ (3,002)	$ (2,415)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Federal Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal tax benefit at statutory tax rate	$ (890)	$ (810)	$ (655)
TRS state and local taxes, net of Federal benefit	(268)	(244)	(197)
Permanent differences, net	252	227	239
Adjustment to deferred tax reserve	1,061	851	1,748
Other	(156)	(132)	(111)
REIT state and local income and franchise taxes	94	377	441
Total provision for income taxes	$ 93	$ 269	$ 1,465

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Earnings (Loss) Per Common Share - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Description of conversion of common OP units to common shares	The effect of the conversion of Common OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Common Shares on a one-for-one basis
Conversion of common OP units to common shares	100.00%

Earnings (Loss) Per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net (loss) income attributable to Acadia	$ 23,548	$ (8,976)	$ 53,717
Less: net income attributable to participating securities	624	233	413
Income (loss) from continuing operations net of income attributable to participating securities	$ 22,924	$ (9,209)	$ 53,304
Denominator:
Weighted average shares for basic earnings (loss) per share	87,653,818	86,441,922	84,435,826
Effect of dilutive securities:
Employee unvested restricted shares (in shares)	0	0	0
Denominator for diluted earnings per share (in shares)	87,653,818	86,441,922	84,435,826
Basic income (loss) and diluted earnings per Common Share from continuing operations attributable to Acadia	$ 0.26	$ (0.11)	$ 0.63
Series A Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	188	188	188
Series A Preferred OP Units - Common Share Equivalent
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	25,067	25,067	25,067
Series C Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	126,593	126,593	136,593
Series C Preferred OP Units - Common Share Equivalent
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	439,556	439,556	474,278
Restricted shares
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	70,827	76,394	40,821

Quarterly Financial Data (Unaudited) - Schedule of Condensed Balance Sheet (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

ASSETS

Operating real estate, net

$ 3,219,373

$ 3,190,761

Real Estate Under Development

203,773

247,201

Net investments in real estate

3,423,146

3,437,962

Notes receivable, net

153,886

100,882

$ 114,943

$ 111,775

Investments in and advances to unconsolidated affiliates

322,326

272,829

Other assets, net

186,509

170,281

Right-of-use assets - operating leases, net

40,743

76,268

60,000

Cash and cash equivalents

17,746

$ 16,158

$ 33,079

$ 14,085

18,699

$ 15,345

$ 32,534

$ 22,315

14,149

20,074

Restricted cash

9,813

11,364

11,662

12,103

11,096

13,284

13,465

13,733

13,880

13,155

Rents receivable, net

43,625

43,052

Total assets

4,261,746

^[1]

4,131,069

^[1]

4,251,695

LIABILITIES

Mortgage and other notes payable, net

1,140,293

1,148,586

Unsecured notes payable, net

559,040

420,858

Unsecured line of credit

112,905

138,400

Accounts payable and other liabilities

236,415

268,442

Lease liability - operating leases, net

38,759

88,816

58,000

Dividends and distributions payable

14,460

147

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

9,939

15,616

Total liabilities

2,111,811

2,080,865

Commitments and contingencies

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 85,989,836 shares

Additional paid-in capital

1,754,383

1,683,165

Accumulated other comprehensive loss

(36,214)

(74,891)

Distributions in excess of accumulated earnings

(196,645)

(167,321)

Total Acadia shareholders’ equity

1,521,613

1,441,039

Noncontrolling interests

628,322

609,165

Total equity

2,149,935

2,050,204

2,188,390

$ 2,082,757

Total liabilities and equity

$ 4,261,746

4,131,069

Previously Reported

ASSETS

Operating real estate, net

3,268,573

3,201,172

3,238,031

3,260,139

3,347,431

3,368,557

3,331,043

3,355,913

Real Estate Under Development

219,037

217,620

234,338

247,349

268,298

264,684

237,831

253,402

Net investments in real estate

3,487,610

3,418,792

3,472,369

3,507,488

3,615,729

3,633,241

3,568,874

3,609,315

Notes receivable, net

158,468

117,280

101,410

101,450

134,798

134,692

173,159

114,943

Investments in and advances to unconsolidated affiliates

305,668

258,063

256,332

249,807

240,414

250,825

294,195

305,097

Other assets, net

174,750

159,592

162,596

173,809

183,170

196,741

179,043

190,658

Right-of-use assets - operating leases, net

41,577

42,398

74,803

76,268

Cash and cash equivalents

17,359

34,645

15,424

19,232

16,108

34,273

23,404

15,845

Restricted cash

14,827

15,094

15,723

14,692

13,673

14,074

14,212

14,165

Rents receivable, net

44,386

43,748

46,356

44,136

47,516

64,902

52,251

59,091

Assets of properties held for sale

8,669

Total assets

4,244,645

4,089,612

4,153,682

4,186,882

4,251,408

4,328,748

4,305,138

4,309,114

LIABILITIES

Mortgage and other notes payable, net

1,181,028

1,162,617

1,188,695

1,125,356

1,159,688

1,161,577

1,170,622

1,170,076

Unsecured notes payable, net

503,966

440,088

420,960

500,083

502,500

472,507

480,658

477,320

Unsecured line of credit

102,905

61,405

105,400

138,400

127,400

177,400

174,700

60,800

Accounts payable and other liabilities

245,697

239,056

237,058

269,911

394,111

408,266

425,330

371,516

Lease liability - operating leases, net

39,743

40,861

87,910

88,816

Dividends and distributions payable

14,339

14,018

147

26,811

27,075

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

15,456

14,896

15,272

15,616

15,462

15,520

15,457

15,362

Total liabilities

2,103,134

1,973,262

2,069,313

2,138,329

2,199,308

2,235,417

2,293,578

2,122,149

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 85,989,836 shares

Additional paid-in capital

1,733,448

1,730,686

1,683,552

1,683,165

1,695,338

1,693,006

1,686,794

1,706,357

Accumulated other comprehensive loss

(43,169)

(47,909)

(41,962)

(74,891)

(85,873)

(90,209)

(85,715)

(31,175)

Distributions in excess of accumulated earnings

(185,373)

(184,174)

(174,829)

(167,046)

(156,321)

(147,291)

(166,701)

(132,961)

Total Acadia shareholders’ equity

1,504,994

1,498,691

1,466,847

1,441,314

1,453,230

1,455,592

1,434,464

1,542,308

Noncontrolling interests

636,517

617,659

617,522

607,239

598,870

637,739

577,096

644,657

Total equity

2,141,511

2,116,350

2,084,369

2,048,553

2,052,100

2,093,331

2,011,560

2,186,965

Total liabilities and equity

4,244,645

4,089,612

4,153,682

4,186,882

4,251,408

4,328,748

4,305,138

4,309,114

Adjustments

ASSETS

Operating real estate, net

(69,334)

(69,819)

(70,111)

(69,378)

(69,825)

(69,895)

(67,995)

(127,888)

Real Estate Under Development

(148)

(55)

(183)

(6)

Net investments in real estate

(69,334)

(69,819)

(70,111)

(69,526)

(69,880)

(70,078)

(68,001)

(127,894)

Notes receivable, net

(3,619)

(2,819)

(1,950)

(568)

Investments in and advances to unconsolidated affiliates

21,828

22,177

22,028

23,022

15,248

15,074

14,814

14,453

Other assets, net

(3,477)

(3,798)

(3,774)

(3,528)

(3,466)

(3,353)

(1,978)

(2,225)

Right-of-use assets - operating leases, net

60,006

Cash and cash equivalents

(1,201)

(1,566)

(1,339)

(533)

(763)

(1,739)

(1,089)

(1,696)

Restricted cash

(3,463)

(3,432)

(3,620)

(3,596)

(389)

(609)

(479)

(285)

Rents receivable, net

(1,094)

(1,062)

(1,159)

(1,084)

(322)

(756)

1,431

222

Assets of properties held for sale

Total assets

(60,360)

(60,319)

(59,925)

(55,813)

(59,572)

(61,461)

(55,302)

(57,419)

LIABILITIES

Mortgage and other notes payable, net

(59,205)

(59,021)

(59,003)

23,230

(59,560)

(58,622)

(57,592)

(57,551)

Unsecured notes payable, net

(79,225)

Unsecured line of credit

Accounts payable and other liabilities

(1,686)

(1,910)

(2,361)

(1,469)

(2,519)

(4,953)

(1,643)

(58,055)

Lease liability - operating leases, net

56,762

Dividends and distributions payable

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

Total liabilities

(60,838)

(60,931)

(61,364)

(57,464)

(62,079)

(63,575)

(59,235)

(58,844)

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 85,989,836 shares

Additional paid-in capital

Accumulated other comprehensive loss

(299)

Distributions in excess of accumulated earnings

(889)

(827)

(620)

(275)

(138)

Total Acadia shareholders’ equity

(889)

(827)

(620)

(275)

(138)

(348)

(357)

Noncontrolling interests

1,367

1,439

2,059

1,926

2,645

2,247

4,281

1,782

Total equity

478

612

1,439

1,651

2,507

2,114

3,933

1,425

Total liabilities and equity

(60,360)

(60,319)

(59,925)

(55,813)

(59,572)

(61,461)

(55,302)

(57,419)

As Restated

ASSETS

Operating real estate, net

3,199,239

3,131,353

3,167,920

3,190,761

3,277,606

3,298,662

3,263,048

3,228,025

Real Estate Under Development

219,037

217,620

234,338

247,201

268,243

264,501

237,825

253,396

Net investments in real estate

3,418,276

3,348,973

3,402,258

3,437,962

3,545,849

3,563,163

3,500,873

3,481,421

Notes receivable, net

154,849

114,461

99,460

100,882

134,798

134,692

173,159

114,943

Investments in and advances to unconsolidated affiliates

327,496

280,240

278,360

272,829

255,662

265,899

309,009

319,550

Other assets, net

171,273

155,794

158,822

170,281

179,704

193,388

177,065

188,433

Right-of-use assets - operating leases, net

41,577

42,398

74,803

76,268

60,006

Cash and cash equivalents

16,158

33,079

14,085

18,699

15,345

32,534

22,315

14,149

Restricted cash

11,364

11,662

12,103

11,096

13,284

13,465

13,733

13,880

Rents receivable, net

43,292

42,686

45,197

43,052

47,194

64,146

53,682

59,313

Assets of properties held for sale

8,669

Total assets

4,184,285

4,029,293

4,093,757

4,131,069

4,191,836

4,267,287

4,249,836

4,251,695

LIABILITIES

Mortgage and other notes payable, net

1,121,823

1,103,596

1,129,692

1,148,586

1,100,128

1,102,955

1,113,030

1,112,525

Unsecured notes payable, net

504,019

440,088

420,960

420,858

502,500

472,507

480,658

477,320

Unsecured line of credit

102,905

61,405

105,400

138,400

127,400

177,400

174,700

60,800

Accounts payable and other liabilities

244,011

237,146

234,697

268,442

391,592

403,313

423,687

313,461

Lease liability - operating leases, net

39,743

40,861

87,910

88,816

56,762

Dividends and distributions payable

14,339

14,018

147

26,811

27,075

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

15,456

14,896

15,272

15,616

15,462

15,520

15,457

15,362

Total liabilities

2,042,296

1,912,331

2,007,949

2,080,865

2,137,229

2,171,842

2,234,343

2,063,305

Acadia Shareholders' Equity

Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 85,989,836 shares

Additional paid-in capital

1,733,448

1,730,686

1,683,552

1,683,165

1,695,338

1,693,006

1,686,794

1,706,357

Accumulated other comprehensive loss

(43,169)

(47,909)

(41,962)

(74,891)

(85,873)

(90,209)

(86,014)

(31,474)

Distributions in excess of accumulated earnings

(186,262)

(185,001)

(175,449)

(167,321)

(156,459)

(147,424)

(166,750)

(133,019)

Total Acadia shareholders’ equity

1,504,105

1,497,864

1,466,227

1,441,039

1,453,092

1,455,459

1,434,116

1,541,951

Noncontrolling interests

637,884

619,098

619,581

609,165

601,515

639,986

581,377

646,439

Total equity

2,141,989

2,116,962

2,085,808

2,050,204

2,054,607

2,095,445

2,015,493

2,188,390

Total liabilities and equity

$ 4,184,285

$ 4,029,293

$ 4,093,757

$ 4,131,069

$ 4,191,836

$ 4,267,287

$ 4,249,836

$ 4,251,695

[1]	Real estate at cost and total assets for the Funds segment include $657.0 million and $641.7 million, or $190.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2021 and 2020, respectively.

Quarterly Financial Data (Unaudited) - Schedule of Condensed Balance Sheet (Details) (Parenthetical) - $ / shares	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Common shares, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Common shares, authorized (in shares)	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000
Common shares, issued (in shares)	89,303,545	88,451,668	88,419,303	86,302,352	86,268,303	86,266,122	86,264,641	85,989,836	87,050,465
Common shares, outstanding (in shares)	89,303,545	88,451,668	88,419,303	86,302,352	86,268,303	86,266,122	86,264,641	85,989,836	87,050,465

Quarterly Financial Data (Unaudited) - Schedule of Condensed Income Statement (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Income Statements, Captions [Line Items]
Revenues												$ 292,497	$ 250,908	$ 289,585
Operating expenses
Depreciation and amortization												123,439	147,229	122,580
General and administrative												40,125	35,798	34,299
Real estate taxes												45,357	42,477	38,333
Property operating												53,516	55,551	49,898
Impairment charges												9,925	85,598	1,721
Total operating expenses												272,362	366,653	246,831
Gain on disposition of properties												10,521	683	30,324
Operating income												30,656	(115,062)	73,078
Equity in FALSE of unconsolidated affiliates												5,330	(3,057)	5,899
Realized and unrealized holding gains on investments and other												49,120	113,362	6,947
Interest expense												68,048	69,671	69,213
Income (loss) from continuing operations before income taxes												26,123	(65,449)	24,699
Income tax benefit												(93)	(269)	(1,465)
Net income (loss)												26,030	(65,718)	23,234
Net (income) loss attributable to noncontrolling interests												2,482	(56,742)	(30,483)
Net income (loss) attributable to Acadia												23,548	(8,976)	53,717
Net income attributable to participating securities												624	233	413
Shares for basic loss per share												$ 23,548	$ (8,976)	$ 53,717
Shares for basic and diluted income per share							86,972,000
Basic and diluted earnings (loss) per share												$ 0.26	$ (0.11)	$ 0.63
Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues												$ 285,898	$ 246,432	$ 285,470
Other
Condensed Income Statements, Captions [Line Items]
Revenues												$ 6,599	4,476	4,115
Previously Reported
Condensed Income Statements, Captions [Line Items]
Revenues	$ 73,446	$ 74,660	$ 69,394	$ 69,010	$ 51,281		$ 71,420	$ 144,054		$ 217,500	$ 186,474		255,484	295,327
Operating expenses
Depreciation and amortization	30,866	31,345	31,390	48,166	34,457	$ 33,793	33,377	62,735	$ 67,170	93,601	101,627		149,793	125,443
General and administrative	9,978	10,671	8,996	9,640	8,625	8,720	9,070	19,667	17,790	29,645	26,415		36,055	35,416
Real estate taxes	11,320	12,504	11,462	11,672	10,689	10,697	10,447	23,966	21,144	35,286	31,833		43,505	39,315
Property operating	12,698	12,890	13,477	14,910	11,559	16,806	13,320	26,367	30,126	39,065	41,685		56,595	51,153
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Total operating expenses	74,787	67,410	65,325	118,437	65,330	70,016	117,763	132,735	187,779	207,522	253,109		371,546	253,048
Gain on disposition of properties		5,909	4,612	174	24	485	0	10,521	485	10,521	509		683	30,324
Operating income	(1,341)	13,159	8,681	(49,253)	(14,025)	(5,758)	(46,343)	21,840	(52,101)	20,499	(66,126)		(115,379)	72,603
Equity in FALSE of unconsolidated affiliates	644	1,106	2,263	(1,082)	(624)	(786)	1,255	3,369	469	4,013	(155)		(1,237)	8,922
Interest and other income	2,354	2,054	1,700	1,823	2,132	2,095	2,929	3,754	5,024	6,108	7,156
Realized and unrealized holding gains on investments and other	47,293	2,711	6,507	34,595	(7,946)	87,811	(530)	9,218	87,281	56,511	79,335		113,930	6,947
Interest expense	17,334	17,605	17,141	17,687	17,752	18,319	18,302	34,746	36,621	52,080	54,373		72,060	73,788
Income (loss) from continuing operations before income taxes	31,616	1,425	2,010	(31,604)	(38,215)	65,043	(60,991)	3,435	4,052	35,051	(34,163)		(65,767)	22,672
Income tax benefit	(59)	(194)	(150)	(1,012)	(74)	(137)	952	(344)	815	(403)	741		(271)	(1,468)
Net income (loss)	31,557	1,231	1,860	(32,616)	(38,289)	64,906	(60,039)	3,091	4,867	34,648	(33,422)		(66,038)	21,204
Net (income) loss attributable to noncontrolling interests	(19,488)	2,687	3,302	21,891	29,259	(45,496)	51,625	5,989	6,129	(13,499)	35,388		57,279	31,841
Net income (loss) attributable to Acadia	12,069	3,918	5,162	(10,725)	(9,030)	19,410	(8,414)	9,080	10,996	21,149	1,966		(8,759)	53,045
Net income attributable to participating securities	156	156	156	0		244		312	233	468	233		233	413
Shares for basic loss per share	$ 12,069	$ 3,918	$ 5,162	$ (10,725)	$ (9,030)	$ 19,410	$ (8,414)	$ 9,080	$ 10,996	$ 21,149	$ 1,966		$ (8,759)	$ 53,045
Shares for basic and diluted income per share	88,481	86,824	86,346	86,311,000	86,309	86,180	86,972,000	86,575	86,576	87,217	86,486		86,442	84,436
Basic loss per shares				$ (0.12)	$ (0.10)		$ (0.10)				$ 0.02		$ (0.10)	$ 0.62
Basic and diluted earnings (loss) per share	$ 0.13	$ 0.04	$ 0.06			$ 0.22		$ 0.10	$ 0.12	$ 0.24
Previously Reported \| Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues	$ 71,852	$ 73,666	$ 67,205	$ 67,606	$ 50,300	$ 62,639	$ 70,457	$ 140,871	$ 133,096	$ 212,723	$ 183,396		$ 251,002	$ 291,190
Previously Reported \| Other
Condensed Income Statements, Captions [Line Items]
Revenues	1,594	994	2,189	1,404	981	1,134	963	3,183	2,097	4,777	3,078		4,482	4,137
Adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(1,550)	(1,603)	(1,207)	(1,132)	(890)		675	(2,810)		(4,360)	(3,444)		(4,576)	(5,742)
Operating expenses
Depreciation and amortization	(802)	(805)	(750)	(722)	(697)	(416)	(729)	(1,555)	(1,145)	(2,357)	(1,842)		(2,564)	(2,863)
General and administrative	(68)	(18)	(4)	0	(210)	(38)	(9)	(22)	(47)	(90)	(257)		(257)	(1,117)
Real estate taxes	(292)	(290)	(256)	(263)	(261)	(252)	(252)	(546)	(504)	(838)	(765)		(1,028)	(982)
Property operating	(255)	(254)	(268)	(306)	(210)	(245)	(283)	(522)	(528)	(777)	(738)		(1,044)	(1,255)
Impairment charges		0	0	0		0	0	0	0		0		0	0
Total operating expenses	(1,417)	(1,367)	(1,278)	(1,291)	(1,378)	(951)	(1,273)	(2,645)	(2,224)	(4,062)	(3,602)		(4,893)	(6,217)
Gain on disposition of properties				0			0						0	0
Operating income	(133)	(236)	71	159	488	(2,278)	1,948	(165)	(330)	(298)	158		317	475
Equity in FALSE of unconsolidated affiliates	(272)	(207)	(381)	(446)	(612)	(394)	(368)	(588)	(762)	(860)	(1,374)		(1,820)	(3,023)
Interest and other income			0	0
Realized and unrealized holding gains on investments and other	(800)	(869)	(1,382)	(568)				(2,251)		(3,051)			(568)	0
Interest expense	(720)	(531)	(527)	(546)	(570)	(571)	(702)	(1,058)	(1,273)	(1,778)	(1,843)		(2,389)	(4,575)
Income (loss) from continuing operations before income taxes	(485)	(781)	(1,165)	(309)	446	(2,101)	2,282	(1,946)	181	(2,431)	627		318	2,027
Income tax benefit		2	2	0			2	4	2	4	2		2	3
Net income (loss)	(485)	(779)	(1,163)	(309)	446	(2,101)	2,284	(1,942)	183	(2,427)	629		320	2,030
Net (income) loss attributable to noncontrolling interests	423	572	818	172	(451)	2,017	(2,275)	1,390	(258)	1,813	(709)		(537)	(1,358)
Net income (loss) attributable to Acadia	(62)	(207)	(345)	(137)	(5)	(84)	9	(552)	(75)	(614)	(80)		(217)	672
Net income attributable to participating securities			0	0									0	0
Shares for basic loss per share	$ (62)	$ (207)	$ (345)	$ (137)	$ (5)	$ (84)	$ 9	$ (552)	$ (75)	$ (614)	$ (80)		$ (217)	$ 672
Shares for basic and diluted income per share			0		0								0	0
Basic loss per shares				$ (0.01)									$ (0.01)	$ 0.01
Basic and diluted earnings (loss) per share			$ (0.01)					$ (0.01)		$ (0.01)
Adjustments \| Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues	$ (1,550)	$ (1,597)	$ (1,207)	$ (1,138)	$ (890)	$ (3,218)	$ 676	$ (2,804)	$ (2,542)	$ (4,354)	$ (3,432)		$ (4,570)	$ (5,720)
Adjustments \| Other
Condensed Income Statements, Captions [Line Items]
Revenues		(6)	0	6		(11)	(1)	(6)	(12)	(6)	(12)		(6)	(22)
As Restated
Condensed Income Statements, Captions [Line Items]
Revenues	71,896	73,057	68,187	67,878	50,391		72,095	141,244		213,140	183,030		250,908	289,585
Operating expenses
Depreciation and amortization	30,064	30,540	30,640	47,444	33,760	33,377	32,648	61,180	66,025	91,244	99,785		147,229	122,580
General and administrative	9,910	10,653	8,992	9,640	8,415	8,682	9,061	19,645	17,743	29,555	26,158		35,798	34,299
Real estate taxes	11,028	12,214	11,206	11,409	10,428	10,445	10,195	23,420	20,640	34,448	31,068		42,477	38,333
Property operating	12,443	12,636	13,209	14,604	11,349	16,561	13,037	25,845	29,598	38,288	40,947		55,551	49,898
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Total operating expenses	73,370	66,043	64,047	117,146	63,952	69,065	116,490	130,090	185,555	203,460	249,507		366,653	246,831
Gain on disposition of properties		5,909	4,612	174	24	485	0	10,521	485	10,521	509		683	30,324
Operating income	(1,474)	12,923	8,752	(49,094)	(13,537)	(8,036)	(44,395)	21,675	(52,431)	20,201	(65,968)		(115,062)	73,078
Equity in FALSE of unconsolidated affiliates	372	899	1,882	(1,528)	(1,236)	(1,180)	887	2,781	(293)	3,153	(1,529)		(3,057)	5,899
Interest and other income	2,354	2,054	1,700	1,823	2,132	2,095	2,929	3,754	5,024	6,108	7,156
Realized and unrealized holding gains on investments and other	46,493	1,842	5,125	34,027	(7,946)	87,811	(530)	6,967	87,281	53,460	79,335		113,362	6,947
Interest expense	16,614	17,074	16,614	17,141	17,182	17,748	17,600	33,688	35,348	50,302	52,530		69,671	69,213
Income (loss) from continuing operations before income taxes	31,131	644	845	(31,913)	(37,769)	62,942	(58,709)	1,489	4,233	32,620	(33,536)		(65,449)	24,699
Income tax benefit	(59)	(192)	(148)	(1,012)	(74)	(137)	954	(340)	817	(399)	743		(269)	(1,465)
Net income (loss)	31,072	452	697	(32,925)	(37,843)	62,805	(57,755)	1,149	5,050	32,221	(32,793)		(65,718)	23,234
Net (income) loss attributable to noncontrolling interests	(19,065)	3,259	4,120	22,063	28,808	(43,479)	49,350	7,379	5,871	(11,686)	34,679		56,742	30,483
Net income (loss) attributable to Acadia	12,007	3,711	4,817	(10,862)	(9,035)	19,326	(8,405)	8,528	10,921	20,535	1,886		(8,976)	53,717
Net income attributable to participating securities	156	156	156	0		244		312	233	468	233		233	413
Shares for basic loss per share	$ 12,007	$ 3,711	$ 4,817	$ (10,862)	$ (9,035)	$ 19,326	$ (8,405)	$ 8,528	$ 10,921	$ 20,535	$ 1,886		$ (8,976)	$ 53,717
Shares for basic and diluted income per share	88,481	86,824	86,346	86,311,000	86,309	86,180		86,575	86,576	87,217	86,486		86,442	84,436
Basic loss per shares				$ (0.13)	$ (0.10)		$ (0.10)				$ 0.02		$ (0.11)	$ 0.63
Basic and diluted earnings (loss) per share	$ 0.13	$ 0.04	$ 0.05			$ 0.22		$ 0.09	$ 0.12	$ 0.23
As Restated \| Rental Income
Condensed Income Statements, Captions [Line Items]
Revenues	$ 70,302	$ 72,069	$ 65,998	$ 66,468	$ 49,410	$ 59,421	$ 71,133	$ 138,067	$ 130,554	$ 208,369	$ 179,964		$ 246,432	$ 285,470
As Restated \| Other
Condensed Income Statements, Captions [Line Items]
Revenues	$ 1,594	$ 988	$ 2,189	$ 1,410	$ 981	$ 1,123	$ 962	$ 3,177	$ 2,085	$ 4,771	$ 3,066		$ 4,476	$ 4,115

Quarterly Financial Data (Unaudited) - Schedule of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended							6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Statement of Income Captions [Line Items]
Net income (loss)												$ 26,030	$ (65,718)	$ 23,234
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements												30,500	(73,686)	(35,883)
Reclassification of realized interest on swap agreements												(21,407)	(15,059)	870
Other comprehensive income (loss)												51,907	(58,627)	(36,753)
Comprehensive income (loss)												77,937	(124,345)	(13,519)
Comprehensive income (loss) attributable to Acadia												$ 62,225	(52,393)	21,727
Previously Reported
Condensed Statement of Income Captions [Line Items]
Net income (loss)	$ 31,557	$ 1,231	$ 1,860	$ (32,616)	$ (38,289)	$ 64,906	$ (60,039)	$ 3,091	$ 4,867	$ 34,648	$ (33,422)		(66,038)	21,204
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements	1,045	(10,073)	33,556		952	(8,621)	(74,774)	23,483	(83,395)	24,528	(82,444)		(74,236)	(35,674)
Reclassification of realized interest on swap agreements	5,528	5,324	5,317		5,506	3,115	977	10,641	4,092	16,169	9,598		15,203	(872)
Other comprehensive income (loss)	6,573	(4,749)	38,873		6,458	(5,506)	(73,797)	34,124	(79,303)	40,697	(72,846)		(59,033)	(36,546)
Comprehensive income (loss)	38,130	(3,518)	40,733		(31,831)	59,400	(133,836)	37,215	(74,436)	75,345	(106,268)		(125,071)	(15,342)
Comprehensive loss attributable to noncontrolling interests	(21,321)	1,489	(2,642)		27,137	(44,484)	70,882	(1,153)	26,398	(22,474)	53,536		72,596	36,696
Comprehensive income (loss) attributable to Acadia	16,809	(2,029)	38,091		(4,694)	14,916	(62,954)	36,062	(48,038)	52,871	(52,732)		(52,475)	21,354
Adjustments
Condensed Statement of Income Captions [Line Items]
Net income (loss)	(485)	(779)	(1,163)	(309)	446	(2,101)	2,284	(1,942)	183	(2,427)	629		320	2,030
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements	3	4	0		(3)	312	239	4	551	7	548		550	(209)
Reclassification of realized interest on swap agreements	(52)	(52)	(49)		(50)	(30)	(15)	(101)	(45)	(153)	(95)		(144)	2
Other comprehensive income (loss)	(49)	(48)	(49)		(53)	282	224	(97)	506	(146)	453		406	(207)
Comprehensive income (loss)	(534)	(827)	(1,212)		393	(1,819)	2,508	(2,039)	689	(2,573)	1,082		726	1,823
Comprehensive loss attributable to noncontrolling interests	472	620	867		(398)	2,034		1,487	(465)	1,959	(863)		(644)	(1,450)
Comprehensive income (loss) attributable to Acadia	(62)	(207)	(345)		(5)	215	9	(552)	224	(614)	219		82	373
As Restated
Condensed Statement of Income Captions [Line Items]
Net income (loss)	31,072	452	697	$ (32,925)	(37,843)	62,805	(57,755)	1,149	5,050	32,221	(32,793)		(65,718)	23,234
Other comprehensive loss:
Unrealized gain (loss) on valuation of swap agreements	1,048	(10,069)	33,556		949	(8,309)	(74,535)	23,487	(82,844)	24,535	(81,896)		(73,686)	(35,883)
Reclassification of realized interest on swap agreements	5,476	5,272	5,268		5,456	3,085	962	10,540	4,047	16,016	9,503		15,059	(870)
Other comprehensive income (loss)	6,524	(4,797)	38,824		6,405	(5,224)	(73,573)	34,027	(78,797)	40,551	(72,393)		(58,627)	(36,753)
Comprehensive income (loss)	37,596	(4,345)	39,521		(31,438)	57,581	(131,328)	35,176	(73,747)	72,772	(105,186)		(124,345)	(13,519)
Comprehensive loss attributable to noncontrolling interests	(20,849)	2,109	(1,775)		26,739	(42,450)	68,383	334	25,933	(20,515)	52,673		71,952	35,246
Comprehensive income (loss) attributable to Acadia	$ 16,747	$ (2,236)	$ 37,746		$ (4,699)	$ 15,131	$ (62,945)	$ 35,510	$ (47,814)	$ 52,257	$ (52,513)		$ (52,393)	$ 21,727

Quarterly Financial Data (Unaudited) - Schedule of Stockholders Equity (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

Sep. 30, 2021

Sep. 30, 2020

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 2,050,204

$ 2,188,390

$ 2,050,204

$ 2,188,390

$ 2,050,204

$ 2,188,390

$ 2,050,204

$ 2,188,390

$ 2,082,757

Balance (in Shares)

88,419,303

86,302,352

86,268,303

86,264,641

85,989,836

87,050,465

86,268,303

87,050,465

86,268,303

87,050,465

86,268,303

87,050,465

Cancellation of OP Units

$ 568

Repurchase of Common Shares

$ (22,400)

$ (22,386)

$ 0

Repurchase of Common Shares (in shares)

(1,219,065)

Dividends/distributions declared

(57,057)

(27,155)

$ (103,434)

Employee and trustee stock compensation, net

12,430

10,912

10,006

Noncontrolling interest distributions

(27,051)

(27,574)

(94,283)

Noncontrolling interest contributions

30,164

52,174

161,365

Issuance of Common Shares

63,876

145,498

Acquisition of noncontrolling interest

(588)

Purchase new program included an optional forward purchase component

63,876

145,498

Comprehensive (loss) income

77,937

(124,345)

(13,519)

Balance

$ 2,149,935

$ 2,050,204

$ 2,188,390

Balance (in Shares)

88,451,668

88,419,303

86,302,352

86,266,122

86,264,641

85,989,836

88,419,303

86,264,641

88,451,668

86,266,122

89,303,545

86,268,303

87,050,465

Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ (400)

Balance

$ (400)

Common Shares

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 82

Balance (in Shares)

86,269,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

81,557,000

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

90,000

408,000

308,000

Repurchase of Common Shares

$ (1)

Repurchase of Common Shares (in shares)

(1,219,000)

Employee and trustee stock compensation, net (in Shares)

56,000

30,000

21,000

Issuance of Common Shares (in Shares)

2,889,000

5,164,000

Issuance of Common Shares

$ 3

$ 5

Purchase new program included an optional forward purchase component

Balance

$ 89

$ 86

$ 87

Balance (in Shares)

89,304,000

86,269,000

87,050,000

Additional Paid-in Capital

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,548,603

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

1,431

6,544

5,104

Repurchase of Common Shares

(22,385)

Employee and trustee stock compensation, net

1,146

782

546

Issuance of Common Shares

63,873

145,493

Purchase new program included an optional forward purchase component

63,873

145,493

Reallocation of noncontrolling interests

4,768

7,197

6,611

Balance

1,754,383

1,683,165

1,706,357

Accumulated Other Comprehensive Income (Loss)

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

516

Comprehensive (loss) income

38,677

(43,417)

(31,990)

Balance

(36,214)

(74,891)

(31,474)

Distributions in Excess of Accumulated Earnings

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(90,426)

Dividends/distributions declared

(52,872)

(24,937)

(96,310)

Comprehensive (loss) income

23,548

(8,976)

53,717

Balance

(196,645)

(167,321)

(133,019)

Distributions in Excess of Accumulated Earnings | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(389)

Balance

(389)

Total Common Shareholders' Equity

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,458,775

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

1,431

6,544

5,104

Repurchase of Common Shares

(22,386)

Dividends/distributions declared

(52,872)

(24,937)

(96,310)

Employee and trustee stock compensation, net

1,146

782

546

Issuance of Common Shares

63,876

145,498

Purchase new program included an optional forward purchase component

63,876

145,498

Comprehensive (loss) income

62,225

(52,393)

21,727

Reallocation of noncontrolling interests

4,768

7,197

6,611

Balance

1,521,613

1,441,039

1,541,951

Total Common Shareholders' Equity | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(389)

Balance

(389)

Noncontrolling Interests

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

609,165

646,439

609,165

646,439

609,165

646,439

609,165

646,439

623,982

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(1,431)

(6,544)

(5,104)

Cancellation of OP Units

568

Dividends/distributions declared

(4,185)

(2,218)

(7,124)

Employee and trustee stock compensation, net

11,284

10,130

9,460

Noncontrolling interest distributions

(27,051)

(27,574)

(94,283)

Noncontrolling interest contributions

30,164

52,174

161,365

Acquisition of noncontrolling interest

15,918

Comprehensive (loss) income

15,712

(71,952)

(35,246)

Reallocation of noncontrolling interests

(4,768)

(7,197)

(6,611)

^[1]

Balance

628,322

609,165

646,439

Noncontrolling Interests | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(11)

Balance

(11)

Previously Reported

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 2,116,350

$ 2,084,369

2,048,553

$ 2,093,331

$ 2,011,560

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

Balance (in Shares)

2,084,369

Cumulative effect of change in accounting principle

(400)

Cancellation of OP Units

479

Repurchase of Common Shares

$ (45,677)

(34)

(22,352)

(22,386)

Dividends/distributions declared

(14,314)

(14,315)

(13,993)

(123)

(26,786)

(28,308)

(26,909)

(42,622)

(27,032)

Employee and trustee stock compensation, net

2,644

2,624

4,511

2,413

2,317

3,819

7,135

6,136

9,780

8,551

Noncontrolling interest distributions

(10,527)

(4,355)

(6,676)

(20,117)

(1,418)

(3,118)

(11,031)

(4,536)

(21,558)

(24,654)

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Issuance of Common Shares

189

45,677

45,865

Acquisition of noncontrolling interest

588

(588)

Purchase new program included an optional forward purchase component

189

45,677

45,865

Comprehensive (loss) income

38,130

(3,518)

40,733

(31,831)

59,400

(133,836)

37,215

(74,436)

75,345

(106,268)

(125,071)

(15,342)

Reallocation of noncontrolling interests

Balance

2,141,511

2,116,350

$ 2,084,369

2,052,100

2,093,331

2,011,560

2,116,350

2,093,331

2,141,511

2,052,100

2,048,553

2,186,965

Balance (in Shares)

2,084,369

Previously Reported | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 2,048,553

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

2,048,553

2,186,965

2,081,947

Cumulative effect of change in accounting principle

(400)

Noncontrolling interest distributions

(27,574)

(94,289)

Noncontrolling interest contributions

52,674

161,628

Issuance of Common Shares

145,498

Acquisition of noncontrolling interest

588

Purchase new program included an optional forward purchase component

145,498

Comprehensive (loss) income

(125,071)

(15,342)

Balance

2,048,553

2,186,965

Previously Reported | Common Shares

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 88

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

Balance (in Shares)

88,419,000

86,302,000

86,269,000

86,265,000

85,990,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

260

148

408

Repurchase of Common Shares

$ 2

$ (1)

Repurchase of Common Shares (in shares)

2,072

(1,219)

Employee and trustee stock compensation, net

$ 1

Employee and trustee stock compensation, net (in Shares)

Issuance of Common Shares (in Shares)

2,072

2,085

Issuance of Common Shares

$ 2

Purchase new program included an optional forward purchase component

Balance

$ 88

$ 86

$ 88

$ 86

$ 88

$ 86

$ 87

Balance (in Shares)

88,452,000

88,419,000

86,302,000

86,266

86,265,000

85,990,000

88,419,000

86,265,000

88,452,000

86,266

86,269,000

87,050,000

Previously Reported | Common Shares | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 82

Balance (in Shares)

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

81,557

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

408

308

Repurchase of Common Shares

$ (1)

Repurchase of Common Shares (in shares)

(1,219)

Employee and trustee stock compensation, net (in Shares)

30,000

Issuance of Common Shares (in Shares)

5,164

Issuance of Common Shares

$ 5

Purchase new program included an optional forward purchase component

Balance

$ 86

$ 87

Balance (in Shares)

86,269

87,050,000

Previously Reported | Additional Paid-in Capital

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 1,730,686

$ 1,683,552

$ 1,683,165

$ 1,693,006

$ 1,686,794

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

Balance (in Shares)

1,683,552

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

$ 115

294

4,072

2,472

409

6,544

697

6,544

Repurchase of Common Shares

45,675

(34)

(22,351)

(22,385)

Employee and trustee stock compensation, net

225

462

232

175

171

687

346

914

578

Issuance of Common Shares

189

45,675

45,863

Purchase new program included an optional forward purchase component

189

45,675

45,863

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Balance

1,733,448

1,730,686

$ 1,683,552

1,695,338

1,693,006

1,686,794

1,730,686

1,693,006

1,733,448

1,695,338

1,683,165

$ 1,706,357

Balance (in Shares)

1,683,552

Previously Reported | Additional Paid-in Capital | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 1,683,165

1,706,357

1,683,165

1,706,357

1,683,165

1,706,357

1,683,165

1,706,357

1,548,603

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Issuance of Common Shares

145,493

Acquisition of noncontrolling interest

(15,330)

Purchase new program included an optional forward purchase component

145,493

Reallocation of noncontrolling interests

7,197

6,611

Balance

1,683,165

1,706,357

Previously Reported | Accumulated Other Comprehensive Income (Loss)

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(47,909)

$ (41,962)

(74,891)

(90,209)

(85,715)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

Balance (in Shares)

(41,962)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Repurchase of Common Shares

Employee and trustee stock compensation, net

Comprehensive (loss) income

4,740

$ (5,947)

32,929

4,336

(4,494)

(54,540)

26,982

(59,034)

31,722

(54,698)

Reallocation of noncontrolling interests

Balance

(43,169)

(47,909)

$ (41,962)

(85,873)

(90,209)

(85,715)

(47,909)

(90,209)

(43,169)

(85,873)

(74,891)

(31,175)

Balance (in Shares)

(41,962)

Previously Reported | Accumulated Other Comprehensive Income (Loss) | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ (74,891)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

(74,891)

(31,175)

516

Comprehensive (loss) income

(43,716)

(31,691)

Reallocation of noncontrolling interests

Balance

(74,891)

(31,175)

Previously Reported | Distributions in Excess of Accumulated Earnings

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(184,174)

$ (174,829)

(167,046)

(147,291)

(166,701)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

Balance (in Shares)

(174,829)

Cumulative effect of change in accounting principle

(389)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Repurchase of Common Shares

Dividends/distributions declared

13,268

$ 13,263

12,945

24,937

26,208

24,937

39,476

24,937

Employee and trustee stock compensation, net

Comprehensive (loss) income

12,069

3,918

5,162

(9,030)

19,410

(8,414)

9,080

10,996

21,149

1,966

Reallocation of noncontrolling interests

Balance

(185,373)

(184,174)

$ (174,829)

(156,321)

(147,291)

(166,701)

(184,174)

(147,291)

(185,373)

(156,321)

(167,046)

(132,961)

Balance (in Shares)

(174,829)

Previously Reported | Distributions in Excess of Accumulated Earnings | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ (167,046)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

(167,046)

(132,961)

(89,696)

Cumulative effect of change in accounting principle

(389)

Comprehensive (loss) income

(8,759)

53,045

Reallocation of noncontrolling interests

Balance

(167,046)

(132,961)

Previously Reported | Total Common Shareholders' Equity

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,498,691

$ 1,466,847

1,441,314

1,455,592

1,434,464

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

Balance (in Shares)

1,466,847

Cumulative effect of change in accounting principle

(389)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

$ 115

294

4,072

2,472

409

6,544

697

6,544

Repurchase of Common Shares

(45,677)

(34)

(22,352)

(22,386)

Dividends/distributions declared

13,268

13,263

12,945

24,937

26,208

24,937

39,476

24,937

Employee and trustee stock compensation, net

225

462

232

175

171

687

346

914

578

Issuance of Common Shares

189

45,677

45,865

Purchase new program included an optional forward purchase component

189

45,677

45,865

Comprehensive (loss) income

16,809

(2,029)

38,091

(4,694)

14,916

(62,954)

36,062

(48,038)

52,871

(52,732)

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Balance

1,504,994

1,498,691

$ 1,466,847

1,453,230

1,455,592

1,434,464

1,498,691

1,455,592

1,504,994

1,453,230

1,441,314

1,542,308

Balance (in Shares)

1,466,847

Previously Reported | Total Common Shareholders' Equity | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 1,441,314

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

1,441,314

1,542,308

1,459,505

Cumulative effect of change in accounting principle

(389)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Issuance of Common Shares

145,498

Acquisition of noncontrolling interest

(15,330)

Purchase new program included an optional forward purchase component

145,498

Comprehensive (loss) income

(52,475)

21,354

Reallocation of noncontrolling interests

7,197

6,611

Balance

1,441,314

1,542,308

Previously Reported | Noncontrolling Interests

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

617,659

$ 617,522

607,239

637,739

577,096

644,657

607,239

644,657

607,239

644,657

607,239

644,657

Balance (in Shares)

617,522

Cumulative effect of change in accounting principle

(11)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(288)

$ (115)

(294)

(4,072)

(2,472)

(409)

(6,544)

(697)

(6,544)

Cancellation of OP Units

(479)

Repurchase of Common Shares

Dividends/distributions declared

1,046

1,052

1,048

123

1,849

2,100

1,972

3,146

2,095

Employee and trustee stock compensation, net

2,419

2,399

4,049

2,181

2,142

3,648

6,448

5,790

8,866

7,973

Noncontrolling interest distributions

10,527

4,355

6,676

20,117

1,418

3,118

11,031

4,536

21,558

24,654

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Acquisition of noncontrolling interest

588

Comprehensive (loss) income

21,321

(1,489)

2,642

(27,137)

44,484

(70,882)

1,153

(26,398)

22,474

(53,536)

Reallocation of noncontrolling interests

(2,060)

(1,119)

369

(2,100)

(1,999)

(145)

(750)

(2,144)

(2,809)

(4,244)

Balance

636,517

617,659

$ 617,522

598,870

637,739

577,096

617,659

637,739

636,517

598,870

607,239

644,657

Balance (in Shares)

617,522

Previously Reported | Noncontrolling Interests | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 607,239

644,657

607,239

644,657

607,239

644,657

607,239

644,657

622,442

Cumulative effect of change in accounting principle

(11)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(6,544)

(5,104)

Noncontrolling interest distributions

(27,574)

(94,289)

Noncontrolling interest contributions

52,674

161,628

Issuance of Common Shares

Acquisition of noncontrolling interest

15,918

Purchase new program included an optional forward purchase component

Comprehensive (loss) income

(72,596)

(36,696)

Reallocation of noncontrolling interests

(7,197)

(6,611)

Balance

607,239

644,657

Adjustments

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

612

1,439

1,651

2,114

3,933

1,425

1,651

1,425

1,651

1,425

1,651

1,425

Noncontrolling interest distributions

(400)

(1,000)

(1,400)

Total Adjustment

612

2,114

Comprehensive (loss) income

(534)

(827)

(1,212)

393

(1,819)

2,508

(2,039)

689

(2,573)

1,082

726

1,823

Balance

478

612

1,439

2,507

2,114

3,933

612

2,114

478

2,507

1,651

1,425

Adjustments | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,651

1,425

1,651

1,425

1,651

1,425

1,651

1,425

810

Noncontrolling interest distributions

500

(6)

Noncontrolling interest contributions

(263)

Comprehensive (loss) income

726

1,823

Balance

1,651

1,425

Adjustments | Common Shares

Increase Decrease In Stockholders Equity [Roll Forward]

Adjustments | Additional Paid-in Capital

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

Adjustments | Accumulated Other Comprehensive Income (Loss)

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(299)

Comprehensive (loss) income

299

Balance

(299)

Adjustments | Accumulated Other Comprehensive Income (Loss) | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(299)

Comprehensive (loss) income

299

(299)

Balance

(299)

Adjustments | Distributions in Excess of Accumulated Earnings

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(827)

(620)

(275)

(133)

(58)

(275)

(58)

(275)

(58)

(275)

(58)

Total Adjustment

(827)

(133)

Comprehensive (loss) income

(62)

(207)

(345)

(5)

(552)

(75)

(614)

(80)

Balance

(889)

(827)

(620)

(138)

(133)

(827)

(133)

(889)

(138)

(275)

(58)

Adjustments | Distributions in Excess of Accumulated Earnings | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(275)

(58)

(275)

(58)

(275)

(58)

(275)

(58)

(730)

Comprehensive (loss) income

(217)

672

Balance

(275)

(58)

Adjustments | Total Common Shareholders' Equity

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(827)

(620)

(275)

(133)

(348)

(357)

(275)

(357)

(275)

(357)

(275)

(357)

Total Adjustment

(827)

(133)

Comprehensive (loss) income

(62)

(207)

(345)

(5)

215

(552)

224

(614)

219

Balance

(889)

(827)

(620)

(138)

(133)

(348)

(827)

(133)

(889)

(138)

(275)

(357)

Adjustments | Total Common Shareholders' Equity | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(275)

(357)

(275)

(357)

(275)

(357)

(275)

(357)

(730)

Comprehensive (loss) income

373

Balance

(275)

(357)

Adjustments | Noncontrolling Interests

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,439

2,059

1,926

2,247

4,281

1,782

1,926

1,782

1,926

1,782

1,926

1,782

Noncontrolling interest distributions

(400)

(1,000)

(1,400)

Total Adjustment

1,439

2,247

Comprehensive (loss) income

(472)

(620)

(867)

398

(2,034)

2,499

(1,487)

465

(1,959)

863

Balance

1,367

1,439

2,059

2,645

2,247

4,281

1,439

2,247

1,367

2,645

1,926

1,782

Adjustments | Noncontrolling Interests | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,926

1,782

1,926

1,782

1,926

1,782

1,926

1,782

1,540

Noncontrolling interest distributions

500

(6)

Noncontrolling interest contributions

(263)

Comprehensive (loss) income

644

1,450

Balance

1,926

1,782

As Restated

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

2,116,962

2,085,808

2,050,204

2,095,445

2,015,493

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

Cumulative effect of change in accounting principle

(400)

Cancellation of OP Units

479

Repurchase of Common Shares

(34)

(22,352)

(22,386)

Dividends/distributions declared

(14,314)

(14,315)

(13,993)

(123)

(26,786)

(28,308)

(26,909)

(42,622)

(27,032)

Employee and trustee stock compensation, net

2,644

2,624

4,511

2,413

2,317

3,819

7,135

6,136

9,780

8,551

Noncontrolling interest distributions

(10,127)

(4,355)

(5,676)

(20,117)

(1,418)

(3,118)

(10,031)

(4,536)

(20,158)

(24,654)

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Issuance of Common Shares

189

45,677

45,865

Acquisition of noncontrolling interest

588

(588)

Purchase new program included an optional forward purchase component

189

45,677

45,865

Comprehensive (loss) income

37,596

(4,345)

39,521

(31,438)

57,581

(131,328)

35,176

(73,747)

72,772

(105,186)

(124,345)

(13,519)

Balance

2,141,989

2,116,962

2,085,808

2,054,607

2,095,445

2,015,493

2,116,962

2,095,445

2,141,989

2,054,607

2,050,204

2,188,390

As Restated | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

2,050,204

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

2,050,204

2,188,390

2,082,757

Cumulative effect of change in accounting principle

(400)

Noncontrolling interest distributions

(27,574)

(94,283)

Noncontrolling interest contributions

52,174

161,365

Issuance of Common Shares

145,498

Acquisition of noncontrolling interest

588

Purchase new program included an optional forward purchase component

145,498

Comprehensive (loss) income

(13,519)

Balance

2,050,204

2,188,390

As Restated | Common Shares

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 88

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

Balance (in Shares)

88,419,000

86,302,000

86,269,000

86,265,000

85,990,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

86,269,000

87,050,000

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

$ 408

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

260

148

408

Repurchase of Common Shares

$ (1)

Repurchase of Common Shares (in shares)

(1,219)

Employee and trustee stock compensation, net

$ 2

Employee and trustee stock compensation, net (in Shares)

Issuance of Common Shares (in Shares)

2,072

2,085

Issuance of Common Shares

$ 2

Purchase new program included an optional forward purchase component

Balance

$ 88

$ 86

$ 88

$ 86

$ 88

$ 86

$ 87

Balance (in Shares)

88,452,000

88,419,000

86,302,000

86,266

86,265,000

85,990,000

88,419,000

86,265,000

88,452,000

86,266

86,269,000

87,050,000

As Restated | Common Shares | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 86

$ 87

$ 82

Balance (in Shares)

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

86,269

87,050,000

81,557

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)

408

308

Repurchase of Common Shares

$ 1

Repurchase of Common Shares (in shares)

1,219

Employee and trustee stock compensation, net (in Shares)

Issuance of Common Shares (in Shares)

5,164

Issuance of Common Shares

$ 5

Purchase new program included an optional forward purchase component

Balance

$ 86

$ 87

Balance (in Shares)

86,269

87,050,000

As Restated | Additional Paid-in Capital

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 1,730,686

$ 1,683,552

$ 1,683,165

$ 1,693,006

$ 1,686,794

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

$ 1,683,165

$ 1,706,357

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

115

294

4,072

2,472

409

6,544

697

6,544

Repurchase of Common Shares

(34)

(22,351)

(22,385)

Employee and trustee stock compensation, net

225

462

232

175

171

687

346

914

578

Issuance of Common Shares

189

45,675

45,863

Purchase new program included an optional forward purchase component

189

45,675

45,863

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Balance

1,733,448

1,730,686

1,683,552

1,695,338

1,693,006

1,686,794

1,730,686

1,693,006

1,733,448

1,695,338

1,683,165

$ 1,706,357

As Restated | Additional Paid-in Capital | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,683,165

1,706,357

1,683,165

1,706,357

1,683,165

1,706,357

1,683,165

1,706,357

1,548,603

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Issuance of Common Shares

145,493

Acquisition of noncontrolling interest

(15,330)

Purchase new program included an optional forward purchase component

145,493

Reallocation of noncontrolling interests

7,197

6,611

Balance

1,683,165

1,706,357

As Restated | Accumulated Other Comprehensive Income (Loss)

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(47,909)

(41,962)

(74,891)

(90,209)

(86,014)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Repurchase of Common Shares

Employee and trustee stock compensation, net

Comprehensive (loss) income

4,740

(5,947)

32,929

4,336

(4,195)

(54,540)

26,982

(58,735)

31,722

(54,399)

Balance

(43,169)

(47,909)

(41,962)

(85,873)

(90,209)

(86,014)

(47,909)

(90,209)

(43,169)

(85,873)

(74,891)

(31,474)

As Restated | Accumulated Other Comprehensive Income (Loss) | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

(74,891)

(31,474)

516

Comprehensive (loss) income

(43,417)

(31,990)

Balance

(74,891)

(31,474)

As Restated | Distributions in Excess of Accumulated Earnings

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(185,001)

(175,449)

(167,321)

(147,424)

(166,750)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

Cumulative effect of change in accounting principle

(389)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

Repurchase of Common Shares

Dividends/distributions declared

13,268

13,263

12,945

24,937

26,208

24,937

39,476

24,937

Employee and trustee stock compensation, net

Comprehensive (loss) income

12,007

3,711

4,817

(9,035)

19,326

(8,405)

8,528

10,921

20,535

1,886

Balance

(186,262)

(185,001)

(175,449)

(156,459)

(147,424)

(166,750)

(185,001)

(147,424)

(186,262)

(156,459)

(167,321)

(133,019)

As Restated | Distributions in Excess of Accumulated Earnings | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(167,321)

(133,019)

(90,426)

Cumulative effect of change in accounting principle

(389)

Comprehensive (loss) income

53,717

Balance

(167,321)

(133,019)

As Restated | Total Common Shareholders' Equity

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,497,864

1,466,227

1,441,039

1,455,459

1,434,116

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

Cumulative effect of change in accounting principle

(389)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

288

115

294

4,072

2,472

409

6,544

697

6,544

Repurchase of Common Shares

(34)

(22,352)

(22,386)

Dividends/distributions declared

13,268

13,263

12,945

24,937

26,208

24,937

39,476

24,937

Employee and trustee stock compensation, net

225

462

232

175

171

687

346

914

578

Issuance of Common Shares

189

45,677

45,865

Purchase new program included an optional forward purchase component

189

45,677

45,865

Comprehensive (loss) income

16,747

(2,236)

37,746

(4,699)

15,131

(62,945)

35,510

(47,814)

52,257

(52,513)

Reallocation of noncontrolling interests

2,060

1,119

(369)

2,100

1,999

145

750

2,144

2,809

4,244

Balance

1,504,105

1,497,864

1,466,227

1,453,092

1,455,459

1,434,116

1,497,864

1,455,459

1,504,105

1,453,092

1,441,039

1,541,951

As Restated | Total Common Shareholders' Equity | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,441,039

1,541,951

1,458,775

Cumulative effect of change in accounting principle

(389)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

6,544

5,104

Issuance of Common Shares

145,498

Acquisition of noncontrolling interest

(15,330)

Purchase new program included an optional forward purchase component

145,498

Comprehensive (loss) income

21,727

Reallocation of noncontrolling interests

7,197

6,611

Balance

1,441,039

1,541,951

As Restated | Noncontrolling Interests

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

619,098

619,581

609,165

639,986

581,377

646,439

609,165

646,439

609,165

646,439

609,165

646,439

Cumulative effect of change in accounting principle

(11)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(288)

(115)

(294)

(4,072)

(2,472)

(409)

(6,544)

(697)

(6,544)

Cancellation of OP Units

(479)

Repurchase of Common Shares

Dividends/distributions declared

1,046

1,052

1,048

123

1,849

2,100

1,972

3,146

2,095

Employee and trustee stock compensation, net

2,419

2,399

4,049

2,181

2,142

3,648

6,448

5,790

8,866

7,973

Noncontrolling interest distributions

10,127

4,355

5,676

20,117

1,418

3,118

10,031

4,536

20,158

24,654

Noncontrolling interest contributions

9,518

5,868

11,241

8,427

21,041

7,268

17,109

28,309

26,627

36,736

Acquisition of noncontrolling interest

588

Comprehensive (loss) income

20,849

(2,109)

1,775

(26,739)

42,450

(68,383)

(334)

(25,933)

20,515

(52,673)

Reallocation of noncontrolling interests

(2,060)

(1,119)

369

(2,100)

(1,999)

(145)

(750)

(2,144)

(2,809)

(4,244)

Balance

$ 637,884

$ 619,098

619,581

$ 601,515

$ 639,986

581,377

619,098

639,986

637,884

601,515

609,165

646,439

As Restated | Noncontrolling Interests | Cumulative Effect Period Of Adoption Adjustment [Member]

Increase Decrease In Stockholders Equity [Roll Forward]

Balance

$ 609,165

646,439

$ 609,165

$ 646,439

$ 609,165

646,439

$ 609,165

646,439

623,982

Cumulative effect of change in accounting principle

$ (11)

(11)

Conversion of OP Units to Common Shares by limited partners of the Operating Partnership

(6,544)

(5,104)

Noncontrolling interest distributions

(27,574)

(94,283)

Noncontrolling interest contributions

52,174

161,365

Acquisition of noncontrolling interest

15,918

Comprehensive (loss) income

(35,246)

Reallocation of noncontrolling interests

(7,197)

(6,611)

Balance

$ 609,165

$ 646,439

[1]	Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.

Quarterly Financial Data (Unaudited) - Statement of Changes in Shareholders' Equity (Details) (Parenthetical) - $ / shares	3 Months Ended								6 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash dividends declared per common share (in dollars per share)	$ 0.15							$ 0.29					$ 0.60	$ 0.29	$ 1.13
Previously Reported
Cash dividends declared per common share (in dollars per share)		$ 0.15	$ 0.15	$ 0.15	$ 0.00	$ 0.00	$ 0.29		$ 0.30	$ 0.29	$ 0.45	$ 0.29		$ 0.29	1.13
As Restated
Cash dividends declared per common share (in dollars per share)		$ 0.15	$ 0.15	$ 0.15	$ 0.00	$ 0.00	$ 0.29		$ 0.30	$ 0.29	$ 0.45	$ 0.29			$ 1.13

Quarterly Financial Data (Unaudited) - Schedule of Cash Flow Statement (Details) - USD ($) $ in Thousands	3 Months Ended							6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income												$ 26,030	$ (65,718)	$ 23,234
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization												123,439	147,229	122,580
Straight-line rents												(6,726)	(4,869)	(4,185)
Noncash lease expense												3,721	3,392	0
Net unrealized holding gains on investments												(51,925)	(72,391)	0
Distributions of operating income from unconsolidated affiliates												3,828	3,286	11,273
Equity in (earnings) losses of unconsolidated affiliates												(5,330)	3,057	(5,899)
Stock compensation expense												12,430	10,912	10,006
Amortization of financing costs												4,396	5,038	6,718
Impairment charges												9,925	85,598	1,721
Allowance for credit loss												(2,796)	24,569	2,742
Termination of ground lease												(3,615)	0	0
Adjustments to straight-line rent reserves												2,682	21,871	1,961
Other, net												(5,304)	(8,155)	(11,575)
Changes in assets and liabilities:
Other liabilities												7,856	(3,959)	(4,850)
Lease liability - operating leases												(3,636)	(1,579)	2,014
Prepaid expenses and other assets												(7,427)	4	8,206
Rents receivable												7,384	(28,321)	1,089
Accounts payable and accrued expenses												572	3,005	1,705
Net cash provided by operating activities												104,983	103,947	131,382
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate												(161,846)	(21,208)	(319,673)
Development, construction and property improvement costs												(40,671)	(36,579)	(89,385)
Proceeds from the disposition of properties, net												63,901	20,930	88,738
Investments in and advances to unconsolidated affiliates and other												(14,835)	(14,483)	(164,922)
Return of capital from unconsolidated affiliates and other												17,722	14,686	106,005
Issuance of notes receivable												(57,895)	(59,000)	(3,608)
Return of deposits for properties under contract												0	187	2,870
Payment of deferred leasing costs												(4,914)	(6,407)	(6,782)
Net cash used in investing activities												(198,538)	(100,924)	(410,538)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes												(98,602)	(51,949)	(158,211)
Principal payments on unsecured debt												(206,781)	(136,490)	(521,600)
Proceeds received on mortgage and other notes												56,847	5,351	324,995
Proceeds from unsecured debt												323,200	236,804	526,400
Payments of finance lease obligations												(63)	(903)	(2,749)
Proceeds from the sale (repurchase) of Common Shares												63,876	(22,386)	145,498
Capital contributions from noncontrolling interests												30,164	52,174	161,365
Distributions to noncontrolling interests												(30,410)	(31,461)	(101,364)
Dividends paid to Common Shareholders												(39,476)	(50,182)	(93,902)
Deferred financing and other costs												(7,436)	(2,215)	(6,476)
Net cash provided by financing activities												91,319	(1,257)	273,956
Increase (decrease) in cash and restricted cash												(2,236)	1,766	(5,200)
Cash of $14,149 and restricted cash of $13,880 beginning of period			$ 29,795				$ 28,029	$ 29,795	$ 28,029	$ 29,795	$ 28,029	29,795	28,029	33,229
Cash of $32,534 and restricted cash of $13,465 end of period				$ 29,795								27,559	29,795	28,029
Previously Reported
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 31,557	$ 1,231	1,860	(32,616)	$ (38,289)	$ 64,906	(60,039)	3,091	4,867	34,648	(33,422)		(66,038)	21,204
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			31,390				33,377	62,735	67,170	93,601	101,627		149,793	125,443
Straight-line rents			1,128					2,765		4,244			5,096	0
Noncash lease expense			1,041					2,066		2,887			3,392
Net unrealized holding gains on investments			(6,135)					(8,565)	(64,937)	(55,796)	(57,031)		(72,391)
Distributions of operating income from unconsolidated affiliates			390				1,898	1,387	2,206	2,004	2,829		3,286	11,273
Equity in (earnings) losses of unconsolidated affiliates	(644)	(1,106)	(2,263)	1,082	624	786	(1,255)	(3,369)	(469)	(4,013)	155		1,237	(8,922)
Stock compensation expense			4,511				3,819	7,135	6,136	9,780	8,551		10,912	10,957
Amortization of financing costs			1,269				1,763	2,546	2,920	3,901	4,040		5,169	7,577
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Gain on disposition of properties			(4,612)					(10,521)	(485)	(10,521)	(509)
Credit loss reserves							4,770		16,175		39,882
Allowance for credit loss			3,065					1,238		973			24,770	0
Termination of ground lease								3,615		3,615
Adjustments to straight-line rent reserves			817					511		254			22,074	0
Other, net			2,312				1,107	4,127	2,780	5,319	2,923		(8,753)	(11,627)
Changes in assets and liabilities:
Other liabilities			3,847				(6,844)	3,114	(6,684)	1,833	(7,736)		(4,208)	(4,466)
Lease liability - operating leases			(494)					(1,533)		(2,653)			(1,579)
Prepaid expenses and other assets			(1,859)				(2,107)	487	4,213	5,579	1,435		32	8,198
Rents receivable			2,408				(24)	(2,801)	25,177	(4,104)	31,511		(29,810)	(455)
Accounts payable and accrued expenses			237				(2,327)	(609)	12,222	220	7,015		3,199	1,632
Net cash provided by operating activities			30,934				27,735	51,033	58,500	72,390	81,081		102,565	127,177
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate							(19,088)		(21,208)	(63,425)	(21,208)		(21,208)	(319,673)
Development, construction and property improvement costs			(5,425)				(13,333)	(16,620)	(20,533)	(27,197)	(27,949)		(40,483)	(89,270)
Proceeds from the disposition of properties, net			15,703				0	63,901	13,925	63,901	14,182		20,930	88,738
Investments in and advances to unconsolidated affiliates and other			1,725				1,525	3,976	3,270	6,111	3,662		4,291	151,281
Return of capital from unconsolidated affiliates and other			4,377				5,024	7,717	7,151	10,671	9,054		14,686	105,999
Issuance of notes receivable							(59,000)	(15,995)	(59,000)	(57,957)	(59,000)		(59,000)	(3,608)
Return of deposits for properties under contract							200	(1,000)	187		187		187	2,870
Payment of deferred leasing costs			(1,438)				(2,763)	(3,080)	(4,885)	(3,509)	(5,422)		(7,979)	(7,051)
Change in control of previously unconsolidated affiliate							0		950		950
Net cash used in investing activities			11,492				(90,485)	30,947	(86,683)	(83,627)	(92,868)		(96,208)	(397,057)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes			(20,406)				(1,488)	(52,408)	(14,360)	(69,766)	(18,981)		(55,449)	(168,211)
Principal payments on unsecured debt			(33,250)				(5,000)	(102,800)	(69,930)	(160,387)	(123,750)		(136,490)	(521,600)
Proceeds received on mortgage and other notes			3,809				689	8,818	3,340	12,654	5,523		7,261	326,268
Proceeds from unsecured debt			536				122,245	49,295	181,700	211,854	215,554		236,804	526,400
Payments of finance lease obligations							(625)		(833)	(63)	(903)		(903)	(2,749)
Proceeds from the sale (repurchase) of Common Shares							(22,352)	45,675	(22,386)	45,865	(22,386)		(22,386)	145,498
Capital contributions from noncontrolling interests			11,241				7,268	17,109	28,309	26,627	36,736		52,674	161,628
Distributions to noncontrolling interests			(6,800)				(4,914)	(12,202)	(8,178)	(23,781)	(28,418)		(31,461)	(101,370)
Dividends paid to Common Shareholders							(25,245)	(12,945)	(50,182)	(26,208)	(50,182)		(50,182)	(93,902)
Deferred financing and other costs			(333)				(222)	(6,707)	(960)	(7,296)	(1,635)		(2,311)	(6,920)
Net cash provided by financing activities			(45,203)				70,356	(66,165)	46,520	9,499	11,558		(2,443)	265,042
Increase (decrease) in cash and restricted cash			(2,777)				7,606	15,815	18,337	(1,738)	(229)		3,914	(4,838)
Cash of $14,149 and restricted cash of $13,880 beginning of period	49,739	31,147	33,924	29,781	48,347	37,616	30,010	33,924	30,010	33,924	30,010	33,924	30,010	34,848
Cash of $32,534 and restricted cash of $13,465 end of period	32,186	49,739	31,147	33,924	29,781	48,347	37,616	49,739	48,347	32,186	29,781		33,924	30,010
Adjustments
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	(485)	(779)	(1,163)	(309)	446	(2,101)	2,284	(1,942)	183	(2,427)	629		320	2,030
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			(750)				(729)	(1,555)	(1,145)	(2,357)	(1,842)		(2,564)	(2,863)
Straight-line rents			(36)				1,094	(80)	2,807	(137)	3,861		(227)	(4,185)
Noncash lease expense							619		1,368	0	2,382		0
Net unrealized holding gains on investments										0			0
Distributions of operating income from unconsolidated affiliates										0			0	0
Equity in (earnings) losses of unconsolidated affiliates	272	207	381	446	612	394	368	588	762	860	1,374		1,820	3,023
Stock compensation expense										0			0	(951)
Amortization of financing costs			(18)				(42)	(36)	(71)	(239)	(99)		(131)	(859)
Impairment charges		0	0	0		0	0	0	0		0		0	0
Gain on disposition of properties										0
Credit loss reserves							(4,770)		(16,175)		(39,882)
Allowance for credit loss			(123)				1,238	(144)	9,620	(200)	20,381		(201)	2,742
Termination of ground lease										0
Adjustments to straight-line rent reserves			79				967	73	6,404	66	19,483		(203)	1,961
Other, net			(1,386)				(1)	(2,258)	(3)	(3,060)	306		(598)	52
Changes in assets and liabilities:
Other liabilities			(48)				122	(74)	175	(85)	153		249	384
Lease liability - operating leases							(376)		(807)	0	(957)		0	2,014
Prepaid expenses and other assets			105				177	(37)	343	102	164		(28)	8
Rents receivable			(90)				(2,457)	24	(3,943)	(14)	(4,735)		1,489	1,544
Accounts payable and accrued expenses			275				24	267	(2,375)	269	53		(194)	73
Net cash provided by operating activities			40				892	(472)	(1,265)	(1,004)	2,079		1,382	4,205
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate										0			0
Development, construction and property improvement costs			(46)				(489)	(880)	(1,555)	(1,262)	(1,064)		(3,904)	115
Proceeds from the disposition of properties, net							0			0			0
Investments in and advances to unconsolidated affiliates and other			336				951	647	1,289	921	2,023		(10,192)	13,641
Return of capital from unconsolidated affiliates and other			1,000					1,000		1,400				6
Issuance of notes receivable										0			0
Return of deposits for properties under contract													0
Payment of deferred leasing costs			(410)				17	(360)	(1,631)	(318)	(1,620)		1,572	269
Change in control of previously unconsolidated affiliate							0
Net cash used in investing activities			1,120				(479)	1,593	1,897	2,059	661		(4,716)	(13,481)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes										0			3,500	27,627
Principal payments on unsecured debt										0			0
Proceeds received on mortgage and other notes			(2,990)					(2,990)	(1,000)	(2,990)	(1,910)		(1,910)	(18,900)
Proceeds from unsecured debt										0			0
Payments of finance lease obligations										0			0
Proceeds from the sale (repurchase) of Common Shares										0			0
Capital contributions from noncontrolling interests										0			(500)	(263)
Distributions to noncontrolling interests			(1,000)					(1,000)		(1,400)			0	6
Dividends paid to Common Shareholders										0			0
Deferred financing and other costs										0			96	444
Net cash provided by financing activities			(1,990)					(1,990)	(1,000)	(1,590)	(1,910)		1,186	8,914
Increase (decrease) in cash and restricted cash			(830)				413	(869)	(368)	(535)	830		(2,148)	(362)
Cash of $14,149 and restricted cash of $13,880 beginning of period	(4,998)	(4,959)	(4,129)	(1,151)	(2,349)	(1,568)	(1,981)	(4,129)	(1,981)	(4,129)	(1,981)	(4,129)	(1,981)	(1,619)
Cash of $32,534 and restricted cash of $13,465 end of period	(4,664)	(4,998)	(4,959)	(4,129)	(1,151)	(2,349)	(1,568)	(4,998)	(2,349)	(4,664)	(1,151)		(4,129)	(1,981)
As Restated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	31,072	452	697	(32,925)	(37,843)	62,805	(57,755)	1,149	5,050	32,221	(32,793)		(65,718)	23,234
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			30,640				32,648	61,180	66,025	91,244	99,785		147,229	122,580
Straight-line rents			1,092				1,094	2,685	2,807	4,107	3,861		4,869	(4,185)
Noncash lease expense			1,041				619	2,066	1,368	2,887	2,382		3,392
Net unrealized holding gains on investments			(6,135)					(8,565)	(64,937)	(55,796)	(57,031)		(72,391)
Distributions of operating income from unconsolidated affiliates			390				1,898	1,387	2,206	2,004	2,829		3,286	11,273
Equity in (earnings) losses of unconsolidated affiliates	(372)	(899)	(1,882)	1,528	1,236	1,180	(887)	(2,781)	293	(3,153)	1,529		3,057	(5,899)
Stock compensation expense			4,511				3,819	7,135	6,136	9,780	8,551		10,912	10,006
Amortization of financing costs			1,251				1,721	2,510	2,849	3,662	3,941		5,038	6,718
Impairment charges	9,925	0	0	34,049		0	51,549	0	51,549	9,925	51,549		85,598	1,721
Gain on disposition of properties			(4,612)					(10,521)	(485)	(10,521)	(509)
Credit loss reserves
Allowance for credit loss			2,942				1,238	1,094	9,620	773	20,381		24,569	2,742
Termination of ground lease								3,615		3,615
Adjustments to straight-line rent reserves			896				967	584	6,404	320	19,483		21,871	1,961
Other, net			926				1,106	1,869	2,777	2,259	3,229		(8,155)	(11,575)
Changes in assets and liabilities:
Other liabilities			3,799				(6,722)	3,040	(6,509)	1,748	(7,583)		(3,959)	(4,850)
Lease liability - operating leases			(494)				(376)	(1,533)	(807)	(2,653)	(957)		(1,579)	2,014
Prepaid expenses and other assets			(1,754)				(1,930)	450	4,556	5,681	1,599		4	8,206
Rents receivable			2,318				(2,481)	(2,777)	21,234	(4,118)	26,776		(28,321)	1,089
Accounts payable and accrued expenses			512				(2,303)	(342)	9,847	489	7,068		3,005	1,705
Net cash provided by operating activities			30,974				28,627	50,561	57,235	71,386	83,160		103,947	131,382
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate							(19,088)		(21,208)	(63,425)	(21,208)		(21,208)	(319,673)
Development, construction and property improvement costs			(5,379)				(12,844)	(15,740)	(18,978)	(25,935)	(26,885)		(36,579)	(89,385)
Proceeds from the disposition of properties, net			15,703				0	63,901	13,925	63,901	14,182		20,930	88,738
Investments in and advances to unconsolidated affiliates and other			2,061				2,476	4,623	4,559	7,032	5,685		14,483	164,922
Return of capital from unconsolidated affiliates and other			5,377				5,024	8,717	7,151	12,071	9,054		14,686	106,005
Issuance of notes receivable							(59,000)	(15,995)	(59,000)	(57,957)	(59,000)		(59,000)	(3,608)
Return of deposits for properties under contract							200	(1,000)	187		187		187	2,870
Payment of deferred leasing costs			(1,028)				(2,780)	(2,720)	(3,254)	(3,191)	(3,802)		(6,407)	(6,782)
Change in control of previously unconsolidated affiliate							0		950		950
Net cash used in investing activities			12,612				(90,964)	32,540	(84,786)	(81,568)	(92,207)		(100,924)	(410,538)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes			(20,406)				(1,488)	(52,408)	(14,360)	(69,766)	(18,981)		(51,949)	(140,584)
Principal payments on unsecured debt			(33,250)				(5,000)	(102,800)	(69,930)	(160,387)	(123,750)		(136,490)	(521,600)
Proceeds received on mortgage and other notes			819				689	5,828	2,340	9,664	3,613		5,351	307,368
Proceeds from unsecured debt			536				122,245	49,295	181,700	211,854	215,554		236,804	526,400
Payments of finance lease obligations							(625)		(833)	(63)	(903)		(903)	(2,749)
Proceeds from the sale (repurchase) of Common Shares							(22,352)	45,675	(22,386)	45,865	(22,386)		(22,386)	145,498
Capital contributions from noncontrolling interests			11,241				7,268	17,109	28,309	26,627	36,736		52,174	161,365
Distributions to noncontrolling interests			(5,800)				(4,914)	(11,202)	(8,178)	(22,381)	(28,418)		(31,461)	(101,364)
Dividends paid to Common Shareholders							(25,245)	(12,945)	(50,182)	(26,208)	(50,182)		(50,182)	(93,902)
Deferred financing and other costs			(333)				(222)	(6,707)	(960)	(7,296)	(1,635)		(2,215)	(6,476)
Net cash provided by financing activities			(47,193)				70,356	(68,155)	45,520	7,909	9,648		(1,257)	273,956
Increase (decrease) in cash and restricted cash			(3,607)				8,019	14,946	17,969	(2,273)	601		1,766	(5,200)
Cash of $14,149 and restricted cash of $13,880 beginning of period	44,741	26,188	29,795	28,630	45,998	36,048	28,029	29,795	28,029	29,795	28,029	$ 29,795	28,029	33,229
Cash of $32,534 and restricted cash of $13,465 end of period	$ 27,522	$ 44,741	$ 26,188	$ 29,795	$ 28,630	$ 45,998	$ 36,048	$ 44,741	$ 45,998	$ 27,522	$ 28,630		$ 29,795	$ 28,029

Quarterly Financial Data (Unaudited) - Schedule of Condensed Statements of Cash Flows (Details) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Statement Of Cash Flows [Abstract]
Cash and Cash Equivalents at beginning balance	$ 16,158	$ 33,079	$ 14,085	$ 18,699	$ 15,345	$ 32,534	$ 22,315	$ 14,149	$ 20,074
Cash and Cash Equivalents at ending balance	17,746	16,158	33,079	14,085	18,699	15,345	32,534	22,315	14,149
Restricted cash, beginning balance	11,364	11,662	12,103	11,096	13,284	13,465	13,733	13,880	13,155
Restricted cash, ending balance	$ 9,813	$ 11,364	$ 11,662	$ 12,103	$ 11,096	$ 13,284	$ 13,465	$ 13,733	$ 13,880

Quarterly Financial Data (Unaudited) (Additional Information) (Details) - USD ($)	3 Months Ended						4 Months Ended	6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reduction in net income attributable													$ 200,000	$ 700,000
Per shares													$ 0.01	$ 0.01
Allowance for credit loss												$ (2,796,000)	$ 24,569,000	$ 2,742,000
Adjustments To Straight Line Rent Reserves												2,682,000	21,871,000	1,961,000
Straight - Line Rent Reserves												6,726,000	4,869,000	4,185,000
Non cash Lease Expense												3,721,000	3,392,000	0
Lease liability - operating leases												$ (3,636,000)	$ (1,579,000)	$ 2,014,000
Cumulative Effect of Change in Accounting Principle
Reduction in net income attributable	$ 100,000	$ 200,000	$ 300,000	$ 0.0	$ 100,000	$ 0.0	$ 100,000	$ 500,000	$ 100,000	$ 600,000	$ 100,000
Per shares	$ 0.00	$ 0.00	$ 0.01	$ 0.00	$ 0.00	$ 0.00	$ 0.01	$ 0.01	$ 0.00	$ 0.01	$ 0.00
Recognition of Additional reserves	$ 800,000	$ 900,000	$ 1,400,000					$ 200,000		$ 200,000
Notes receivable	$ 3,100,000	$ 2,300,000	$ 300,000					$ 500,000		$ 700,000
Allowance for credit loss						$ 1,300,000			$ 9,700,000		$ 20,500,000
Adjustments To Straight Line Rent Reserves						3,000,000.0			6,500,000		19,700,000
Straight - Line Rent Reserves						1,100,000			2,900,000		4,000,000.0
Non cash Lease Expense						600,000			1,400,000		2,400,000
Lease liability - operating leases						$ 400			$ 800,000		$ 1,000,000.0

Subsequent Events - Additional Information (Details) $ / shares in Units, $ in Thousands						1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 09, 2022 USD ($) Property	Feb. 01, 2022 USD ($)	Jan. 26, 2022 USD ($)	Jan. 24, 2022 USD ($)	Jan. 12, 2022 USD ($) Property	Jan. 31, 2022 USD ($)	Mar. 31, 2020 $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) Property $ / shares shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($) $ / shares shares	Feb. 18, 2022 USD ($) Property Store
Subsequent Event [Line Items]
Investments In Affiliates Subsidiaries Associates And Joint Ventures									$ 322,326	$ 272,829
Weighted Average Share Price \| $ / shares							$ 18.29
Proceeds from the disposition of properties, net									$ 63,901	20,930	$ 88,738
Repayments of debt										$ 26,300
Number Of Real Estate Properties \| Property									186
Fund III
Subsequent Event [Line Items]
Equity method investment, ownership percentage by third party									100.00%
ATM Program
Subsequent Event [Line Items]
Weighted Average Share Price \| $ / shares									$ 22.46		$ 28.61
Proceeds from stock plans net of issuance costs									$ 63,900		$ 145,500
Gross proceeds									$ 64,900		$ 147,700
Issuance of Common Shares (in Shares) \| shares									2,889,371	0	5,164,055
Subsequent Event
Subsequent Event [Line Items]
Number of stores \| Store												11
Number of Residential Units \| Property												23
Annual base rent amount					$ 39,000
Equity method investment, ownership percentage by third party												49.99%
Repayments of debt	$ 12,300
Number Of Real Estate Properties \| Property	28
Subsequent Event \| First Mortgage Loan
Subsequent Event [Line Items]
Investments In Affiliates Subsidiaries Associates And Joint Ventures												$ 64,100
Subsequent Event \| Mezzanine Loan
Subsequent Event [Line Items]
Investments In Affiliates Subsidiaries Associates And Joint Ventures												30,900
Subsequent Event \| Spring Street Soho
Subsequent Event [Line Items]
Number of Real Estate Retail Properties \| Property					121
Subsequent Event \| Fund V
Subsequent Event [Line Items]
Proceeds from the disposition of properties, net		$ 2,200
Subsequent Event \| Fund IV
Subsequent Event [Line Items]
Proceeds from the disposition of properties, net			$ 23,700
Repayments of debt			$ 11,100
Subsequent Event \| Fund III
Subsequent Event [Line Items]
Collateral Note Receivable				$ 5,300
Note receivable including interest				$ 10,000
Equity method investment, ownership percentage by third party				36.90%
Repayments of debt	$ 34,500
Subsequent Event \| Fund III \| Disposed of by sale
Subsequent Event [Line Items]
Proceeds from the disposition of properties, net						$ 65,500
Subsequent Event \| Fund Portfolio
Subsequent Event [Line Items]
Investments In Affiliates Subsidiaries Associates And Joint Ventures												$ 5,000
Subsequent Event \| ATM Program
Subsequent Event [Line Items]
Weighted Average Share Price \| $ / shares								$ 22.48
Proceeds from stock plans net of issuance costs								$ 92,500
Gross proceeds								$ 96,300
Issuance of Common Shares (in Shares) \| shares								4,281,576

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for deferred tax asset
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 2,599	$ 1,748	$ 0
Charged to Expenses	0	0	0
Adjustments to Valuation Accounts	1,061	851	1,748
Deductions	0	0	0
Balance at End of Year	3,660	2,599	1,748
Allowance for uncollectible accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	45,009	11,408	7,921
Charged to Expenses	(114)	46,440	4,402
Adjustments to Valuation Accounts	(6,424)	(12,839)	(915)
Deductions	0	0	0
Balance at End of Year	38,471	45,009	11,408
Allowance for notes receivable
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	1,218	400	0
Charged to Expenses	4,534	818	0
Adjustments to Valuation Accounts	0	0	0
Deductions	0	0	0
Balance at End of Year	5,752	1,218	$ 400
Allowance for notes receivable \| ASU 2019-05
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 1,218
Balance at End of Year		$ 1,218

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation And Qualifying Accounts [Abstract]
Federal tax benefit at statutory tax rate	$ (890)	$ (810)	$ (655)
TRS state and local taxes, net of Federal benefit	(268)	(244)	(197)
Permanent differences, net	252	227	239
Adjustment to deferred tax reserve	1,061	851	1,748
Other	(156)	(132)	(111)
REIT state and local income and franchise taxes	94	377	441
Total provision for income taxes	$ 93	$ 269	$ 1,465

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Reconciliation of Real Estate Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance at beginning of year	$ 4,011,326
Improvements and other	32,070
Property acquisitions	172,558
Property dispositions or held for sale assets	(134,422)
Right-of-use assets - finance leases obtained and reclassified	(0)
Capital lease reclassified as Right-of-use assets - finance lease	0	$ 0	$ (76,965)
Consolidation of previously unconsolidated investments	0
Impairment charges	(9,925)
Balance at end of year	4,071,607	4,011,326
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance at beginning of year	$ 4,011,326	3,960,411	3,620,583
Improvements and other		71,409	95,097
Property acquisitions		19,109	303,884
Property dispositions or held for sale assets		(19,659)	(84,243)
Right-of-use assets - finance leases obtained and reclassified		(76,965)	102,055
Capital lease reclassified as Right-of-use assets - finance lease		0	(76,965)
Consolidation of previously unconsolidated investments		129,863	0
Impairment charges		72,842	0
Balance at end of year		$ 4,011,326	$ 3,960,411

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Reconciliation of Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance at beginning of year	$ 573,364
Depreciation related to real estate	90,456
Property dispositions	(15,359)
Right-of-use assets - finance leases reclassified	0
Balance at end of year	648,461	$ 573,364
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance at beginning of year	$ 573,364	478,991	$ 407,698
Depreciation related to real estate		101,849	83,040
Property dispositions		(939)	(11,747)
Right-of-use assets - finance leases reclassified		6,537	0
Balance at end of year		$ 573,364	$ 478,991

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - Loans On Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Mortgage Loans on Real Estate [Line Items]
Face Amount of Notes Receivable	$ 160,646
Notes receivable	159,638	$ 102,100
Allowance for credit loss	(5,752)	(1,218)
Notes receivable, net	$ 153,886	$ 100,882
First Mortgage Loan, 6.00% Loan, Due 4/1/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	6.00%
Face Amount of Notes Receivable	$ 17,810
Notes receivable	$ 17,802
Mezzanine Loan, 18.00% Loan, Due 7/1/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	18.00%
Face Amount of Notes Receivable	$ 5,306
Notes receivable	$ 5,306
First Mortgage Loan, 5.42% Loan, Due 6/1/2022
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	5.42%
Face Amount of Notes Receivable	$ 13,530
Notes receivable	$ 13,530
Mezzanine Loan 9.00% Loan Due 1/13/2023
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	9.00%
Face Amount of Notes Receivable	$ 54,000
Notes receivable	$ 54,000
Other, 4.65% Loan, Due 4/12/2026
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	4.65%
Face Amount of Notes Receivable	$ 6,000
Notes receivable	$ 6,000
Mezzanine Loan 8.00% Loan, Due 12/11/2027
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	8.00%
Face Amount of Notes Receivable	$ 5,000
Notes receivable	$ 5,000
First Mortgage Loan, 9.00% Loan, Due 10/20/2022
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	9.00%
Face Amount of Notes Receivable	$ 16,000
Notes receivable	$ 16,000
First Mortgage Loan, 6.56% Loan, Due 9/17/2024
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	6.56%
Face Amount of Notes Receivable	$ 43,000
Notes receivable	$ 42,000

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - Reconciliation of Loans on Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	$ 100,882	$ 114,943	$ 111,775
Additions	58,000	59,585	18,418
Repayments	0	0	(15,250)
Conversion of OP Units	(462)	0	0
Conversion to real estate through receipt of deed	0	(72,428)	0
Allowance for credit loss	(4,534)	(1,218)	0
Balance at end of year	$ 153,886	$ 100,882	$ 114,943