Acadia Realty Trust (AKR) 10-Q 25 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 22, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	ACADIA REALTY TRUST
Entity Central Index Key	0000899629
Current Fiscal Year End Date	--12-31
Trading Symbol	AKR
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		82,768,837

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Operating real estate, net	$ 3,124,243	$ 3,160,851
Real estate under development	193,315	120,297
Net investments in real estate	3,317,558	3,281,148
Notes receivable, net	109,769	109,613
Investments in and advances to unconsolidated affiliates	309,349	262,410
Other assets, net	202,206	208,570
Cash and cash equivalents	27,765	21,268
Rents receivable, net	59,701	62,191
Restricted cash	12,527	13,580
Total assets	4,038,875	3,958,780
LIABILITIES
Mortgage and other notes payable, net	1,109,160	1,017,288
Unsecured notes payable, net	481,019	533,257
Unsecured line of credit	9,000
Accounts payable and other liabilities	293,019	286,072
Dividends and distributions payable	24,910	24,593
Distributions in excess of income from, and investments in, unconsolidated affiliates	15,415	15,623
Total liabilities	1,932,523	1,876,833
Commitments and contingencies
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 82,708,361 and 81,557,472 shares, respectively	83	82
Additional paid-in capital	1,577,503	1,548,603
Accumulated other comprehensive (loss) income	(11,021)	516
Distributions in excess of accumulated earnings	(100,634)	(89,696)
Total Acadia shareholders’ equity	1,465,931	1,459,505
Noncontrolling interests	640,421	622,442
Total equity	2,106,352	2,081,947
Total liabilities and equity	$ 4,038,875	$ 3,958,780

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common shares, par value (in dollars per share)	$ 0.001	$ 0.001
Common shares, authorized (in shares)	200,000,000	200,000,000
Common shares, issued (in shares)	82,708,361	81,557,472
Common shares, outstanding (in shares)	82,708,361	81,557,472

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 74,800	$ 63,124
Operating expenses
Depreciation and amortization	30,333	28,576
General and administrative	8,323	8,470
Real estate taxes	9,603	8,959
Property operating	12,347	10,338
Other operating		80
Total operating expenses	60,606	56,423
Operating income	14,194	6,701
Equity in earnings of unconsolidated affiliates	2,271	1,684
Interest income	2,270	3,737
Interest expense	(17,859)	(15,890)
Income (loss) from continuing operations before income taxes	876	(3,768)
Income tax benefit (provision)	46	(392)
Income (loss) from continuing operations before gain on disposition of properties	922	(4,160)
Gain on disposition of properties, net of tax	2,014
Net income (loss)	2,936	(4,160)
Net loss attributable to noncontrolling interests	9,261	11,579
Net income attributable to Acadia	$ 12,197	$ 7,419
Basic and diluted earnings per share (in dollars per share)	$ 0.15	$ 0.09
Rental income
Revenues	$ 74,003	$ 50,779
Expense reimbursements
Revenues		11,208
Other
Revenues	$ 797	$ 1,137

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 2,936	$ (4,160)
Other comprehensive (loss) income:
Unrealized (loss) income on valuation of swap agreements	(13,306)	5,653
Reclassification of realized interest on swap agreements	(551)	363
Other comprehensive (loss) income	(13,857)	6,016
Comprehensive (loss) income	(10,921)	1,856
Comprehensive loss attributable to noncontrolling interests	11,581	10,325
Comprehensive income attributable to Acadia	$ 660	$ 12,181

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Distributions in Excess of Accumulated Earnings	Total Common Shareholders' Equity	Noncontrolling Interests
Beginning Balance at Dec. 31, 2017	$ 2,215,639	$ 84	$ 1,596,514	$ 2,614	$ (32,013)	$ 1,567,199	$ 648,440
Balance (in Shares) at Dec. 31, 2017		83,708,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0		642			642	(642)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)		38,000
Repurchase of Common Shares	(31,961)	$ (2)	(31,959)			(31,961)
Repurchase of Common Shares (in shares)		(1,304,000)
Dividends/distribution declared ($0.28 and $0.27 per Common Share/OP Unit for Three Months Ended March 31, 2019 and 2018)	(23,983)				(22,262)	(22,262)	(1,721)
Employee and trustee stock compensation, net	3,811		95			95	3,716
Employee and trustee stock compensation, net (in Shares)		9,000
Noncontrolling interest distributions	(695)						(695)
Comprehensive (loss) income	1,856			4,762	7,419	12,181	(10,325)
Reallocation of noncontrolling interests	0		(1,225)			(1,225)	1,225
Ending Balance at Mar. 31, 2018	2,164,667	$ 82	1,564,067	7,376	(46,856)	1,524,669	639,998
Balance (in Shares) at Mar. 31, 2018		82,451,000
Beginning Balance at Dec. 31, 2017	2,215,639	$ 84	1,596,514	2,614	(32,013)	1,567,199	648,440
Balance (in Shares) at Dec. 31, 2017		83,708,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of Common Shares	$ (55,100)
Repurchase of Common Shares (in shares)	(2,294,235)
Ending Balance at Dec. 31, 2018	$ 2,081,947	$ 82	1,548,603	516	(89,696)	1,459,505	622,442
Balance (in Shares) at Dec. 31, 2018	81,557,472	81,557,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	$ 0		2,953			2,953	(2,953)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)		175,000
Repurchase of Common Shares (in shares)	0
Issuance of Common Shares	$ 27,834	$ 1	27,833			27,834
Issuance of Common Shares (in Shares)		971,000
Dividends/distribution declared ($0.28 and $0.27 per Common Share/OP Unit for Three Months Ended March 31, 2019 and 2018)	(24,916)				(23,135)	(23,135)	(1,781)
Employee and trustee stock compensation, net	3,454		94			94	3,360
Employee and trustee stock compensation, net (in Shares)		5,000
Noncontrolling interest distributions	(3,237)						(3,237)
Noncontrolling interest contributions	32,191						32,191
Comprehensive (loss) income	(10,921)			(11,537)	12,197	660	(11,581)
Reallocation of noncontrolling interests	0		(1,980)			(1,980)	1,980
Ending Balance at Mar. 31, 2019	$ 2,106,352	$ 83	$ 1,577,503	$ (11,021)	$ (100,634)	$ 1,465,931	$ 640,421
Balance (in Shares) at Mar. 31, 2019	82,708,361	82,708,000

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Stockholders Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.28	$ 0.27

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 2,936	$ (4,160)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	30,333	28,576
Distributions of operating income from unconsolidated affiliates	2,054	4,724
Equity in earnings and gains of unconsolidated affiliates	(2,271)	(1,684)
Stock compensation expense	3,454	3,809
Amortization of financing costs	1,743	1,375
Gain on disposition of properties	(2,014)
Other, net	(6,614)	(1,889)
Changes in assets and liabilities:
Other liabilities	(7,068)	1,461
Prepaid expenses and other assets	(390)	(2,240)
Rents receivable, net	2,283	(2,359)
Accounts payable and accrued expenses	(4,661)	(4,674)
Net cash provided by operating activities	19,785	22,939
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate	(32,034)	(46,171)
Development, construction and property improvement costs	(19,909)	(18,136)
Issuance of or advances on notes receivable		(2,951)
Proceeds from the disposition of properties, net	9,779
Investments in and advances to unconsolidated affiliates	(48,983)	(1,847)
Return of capital from unconsolidated affiliates and other	1,635	16,210
Proceeds from notes receivable		26,000
(Payment) return of deposits for properties under contract	(1,952)	1,750
Payment of deferred leasing costs	(1,549)	(1,134)
Net cash used in investing activities	(93,013)	(26,279)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes	(8,014)	(45,246)
Principal payments on unsecured debt	(124,140)	(420,500)
Proceeds received on mortgage and other notes	101,655	47,273
Proceeds from unsecured debt	80,940	447,800
Payments for repurchase of Common Shares		(31,961)
Payments of finance lease obligations	(625)
Proceeds from the sale of Common Stock	27,834
Capital contributions from noncontrolling interests	32,191
Distributions to noncontrolling interests	(4,999)	(2,411)
Dividends paid to Common Shareholders	(22,836)	(22,601)
Deferred financing and other costs	(3,334)	(2,822)
Net cash provided by (used in) financing activities	78,672	(30,468)
Increase (decrease) in cash and restricted cash	5,444	(33,808)
Cash of $21,268 and $74,823 and restricted cash of $13,580 and $10,846, respectively, beginning of period	34,848	85,669	$ 85,669
Cash of $27,765 and $39,344 and restricted cash of $12,527 and $12,517, respectively, end of period	40,292	51,861	$ 34,848
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $2,575 and $1,492 respectively	16,898	11,910
Cash paid for income taxes, net of refunds	113	673
Supplemental disclosure of non-cash investing activities
Assumption of accounts payable and accrued expenses through acquisition of real estate	159	425
Right-of-use assets, finance leases obtained in exchange for finance lease liabilities	5,664
Right-of-use assets, finance leases obtained in exchange for assets under capital lease	76,965
Right-of-use assets, operating leases obtained in exchange for operating lease liabilities	11,871
Capital lease obligation exchanged for finance lease liability	71,111
Other liabilities exchanged for operating lease liabilities	$ 946
Acquisition of undivided interest in a property through conversion of notes receivable		$ 22,201

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Cash Flows [Abstract]
Cash and cash equivalents	$ 27,765	$ 39,344
Restricted cash	12,527	12,517
Cash paid for capitalized interest	$ 2,575	$ 1,492

Organization, Basis of Presenta

Organization, Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization, Basis of Presentation and Summary of Significant Accounting Policies	Organization Acadia Realty Trust and subsidiaries (collectively, 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 March 31, 2019 and December 31, 2018, the Company controlled approximately 94% 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 13). 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 of the Company (“Common Shares”). This structure is referred to as an umbrella partnership REIT or “UPREIT.” As of March 31, 2019, the Company has ownership interests in 121 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 (the “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”). The 174 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 I and 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 March 31, 2019 Unfunded Commitment Equity Interest Held By Operating Partnership (a) Preferred Return Total Distributions as of March 31, 2019 (b) Fund II and Mervyns II (c) 6/2004 28.33 % $ 347.1 $ — 28.33 % 8 % $ 146.6 Fund III 5/2007 24.54 % 426.3 23.7 24.54 % 6 % 554.8 Fund IV 5/2012 23.12 % 425.4 104.6 23.12 % 6 % 147.4 Fund V 8/2016 20.10 % 118.3 401.7 20.10 % 6 % — (a) Amount represents the current economic ownership at March 31, 2019, which could differ from the stated legal ownership based upon the cumulative preferred returns of the respective Fund. (b) Represents the total for the Funds, including the Operating Partnership and noncontrolling interests’ shares. (c) During April 2018, a distribution of $15.0 million was made to the Fund II investors, including $4.3 million to the Operating Partnership. This amount remains subject to re-contribution to Fund II until April 2021. Basis of Presentation Segments At March 31, 2019, 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 basis and does not differentiate properties on a geographical basis for purposes of allocating resources or capital. Principles of Consolidation The interim 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 Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810 “Consolidation” (“ASC Topic 810”). 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. The interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full fiscal year. The information furnished in the accompanying consolidated financial statements reflects all adjustments that, in the opinion of management, are necessary for a fair presentation of the aforementioned consolidated financial statements for the interim periods. Such adjustments consisted of normal recurring items. These interim consolidated financial statements should be read in conjunction with the Company’s 2018 Annual Report on Form 10-K, as filed with the SEC on February 19, 2019. Use of Estimates GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the interim 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. Recently Adopted Accounting Pronouncements Lease Accounting In February 2016, the FASB issued ASU No. 2016-02 , Leases (Topic 842). Revenue from Contracts with Customers • A package of three practical expedients that must be elected together for all leases and includes: (i) not reassessing expired or existing contracts as to whether they are or contain leases; (ii) not reassessing lease classification of existing leases and (iii) not reassessing the amount of capitalized initial direct costs for existing leases; • A practical expedient to use hindsight in determining the lease term or assessing purchase options for existing leases and in assessing impairment of right of use assets; • Lessees may make an accounting policy election by class of underlying asset not to separate lease components from non-lease components; and • Lessees may make an accounting policy election not to apply the recognition and measurement requirements to short-term leases. ASU 2016-02 was modified by the following subsequently issued ASU’s (together with ASU 2016-02, “Topic 842”), many of which provided additional transition practical expedients: • ASU 2018-01, Land Easements Practical Expedient for Transition to Topic 842 • ASU No. 2018-10, Codification Improvements to Topic 842, Leases • ASU 2018-11, Leases (Topic 842): Targeted Improvements o The amendments in this Update provide entities with an additional optional transition method to adopt ASU 2016-02. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity’s reporting under this additional transition method for the comparative periods presented in the financial statements in which it adopts the new leases standard would continue to be in accordance with former GAAP (Topic 840, Leases). o The amendments in this Update also provide lessors with a practical expedient, by class of underlying asset, to make a policy election to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if the non-lease components otherwise would be accounted for under the new revenue guidance (Topic 606). Conditions are required to elect the practical expedient, and if met, the single component will be accounted for under either under Topic 842 or Topic 606 depending on which component(s) are predominant. The lessor practical expedient to not separate non-lease components from the associated component must be elected for all existing and new leases. • ASU 2018-20, Leases (Topic 842), Narrow-Scope Improvements for Lessors • ASU 2019-01, Leases (Topic 842), Codification Improvements Under the new leasing guidance, contract consideration shall be allocated to its lease components (such as the lease of retail properties) and non-lease components (such as maintenance). For lessors, any non-lease components will be accounted for under Topic 606 former GAAP (Topic 840, Leases ). The Company adopted Topic 842 effective January 1, 2019 utilizing the new transition method described in ASU 2018-11 and has availed itself of all the available practical expedients described above except it did not use hindsight in determining the lease term or assessing purchase options for existing leases and in assessing impairment of right of use assets. As lessor, the Company has more than 1,000 leases primarily with retail tenants and to a lesser extent with office and residential tenants. A significant majority of its leases are on a triple-net basis. The impact of adoption of ASU 2016-02 for the Company as lessor was as follows: • The Company has elected the lessor practical expedient to not separate common area maintenance from the associated lease for all existing and new leases and to account for the combined component as a single lease component. Common area maintenance is considered a non-lease component within the scope of Topic 606 and reimbursements of taxes and insurance are considered contractual payments that do not transfer a good or service to the tenant; however, such revenues related to leases, which were formerly reported as reimbursed expenses, will be reported within lease revenues in the presentation of the statement of income subsequent to the implementation of ASC 842. Prior year classifications under ASC 840 will not be adjusted. • Due to its election of available practical expedients, the Company expects that post-adoption substantially all existing leases, and new leases compared to similar existing leases, will have no change in the timing of revenue recognition. • The Company’s internal leasing costs will be expensed as incurred, as opposed to being capitalized and deferred. Commissions subsequent to successful lease execution will continue to be capitalized. After adoption, the Company will no longer capitalize internal leasing costs that were previously capitalized (the Company capitalized $1.8 million of internal leasing costs during the year ended December 31, 2018 • The Company has existing easement arrangements that have not been previously identified as leases. The Company expects that its existing and similar future easement arrangements will not be classified as rental revenue but as other revenues as these arrangements do not transfer control to the counterparty. • The Company makes a policy election to continue to account for only those taxes described under ASU 2018-20 that it pays on behalf of the tenant as reimbursable costs and will not account for those taxes paid directly by the lessee which are considered lessee costs. As lessee, the Company is party to 13 ground, office and equipment leases with future payment obligations aggregating $203.1 million at December 31, 2018 follows ( Note 11 ): • As lessee, the Company has applied the following practical expedients in the implementation ASU 2016-02: (i) to not separate non-lease components from the associated lease component as described above and (ii) to not apply the right-of-use recognition requirements to short-term leases. As such, there were no changes in the timing of recognition of expenses related to its operating leases. • The Company recognized right-of-use assets and lease liabilities of $11.9 million and $12.8 million, respectively, related to its operating leases. • The Company reclassified its existing capital lease asset of $77.0 million and capital lease liability of $71.1 million to a right-of-use asset and a lease liability, respectively, pertaining to finance leases. • Subsequent to the adoption of and in accordance with Topic 842, the Company reassessed the circumstances surrounding three of its operating ground leases and determined that it had made significant leasehold improvements and was now reasonably certain to exercise their purchase options. Accordingly, the Company reclassified the existing right-of-use assets and lease liabilities from operating leases to finance leases and adjusted the leases’ right-of-use assets and corresponding lease liabilities to $5.7 million and $5.7 million, respectively, to incorporate the present value of the purchase options, which totaled $4.7 million at January 1, 2019. • With the adoption of ASC Topic 842, the Company will no longer provide a reserve for uncollectible receivables; they will be written-off. Accordingly, tenant receivables will not be presented net of an allowance for doubtful accounts on the balance sheet. The write-off of the tenant receivables will be presented as a reduction of revenue rather than as an operating expense on the income statement. In addition, rental income related to tenants with uncollectible receivables will be recorded on a cash basis and straight-line rent will be suspended. The Company did not record any cumulative effect of change in accounting principle upon the adoption of ASC Topic 842 as lessor or lessee. Consistent with the transition guidance under ASU 2018-11, all prior period disclosures remain in accordance with ASC Topic 840. Other Accounting Topics In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In July 2018, the FASB issued ASU No. 2018-09, Codification Improvements Recently Issued Accounting Pronouncements In November 2018, the FASB issued ASU No. 2018-19 Codification Improvements to Topic 326, Financial Instruments – Credit Losses Financial Instruments – Credit Losses – Measure at Amortized Cost Leases. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. Revenue from Contracts with Customers In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued ASU No. 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2019
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Real Estate	The Company’s consolidated real estate is comprised of the following (in thousands): March 31, 2019 December 31, 2018 Land $ 705,402 $ 710,469 Buildings and improvements 2,574,459 2,594,828 Tenant improvements 157,502 151,154 Construction in progress 30,413 44,092 Properties under capital lease — 76,965 Right-of-use assets - finance leases 82,629 — Right-of-use assets - operating leases 11,871 — Total 3,562,276 3,577,508 Less: Accumulated depreciation (438,033 ) (416,657 ) Operating real estate, net 3,124,243 3,160,851 Real estate under development, at cost 193,315 120,297 Net investments in real estate $ 3,317,558 $ 3,281,148 Acquisitions and Conversions During the three months ended March 31, 2019 and the year ended December 31, 2018, the Company acquired the following consolidated retail properties (dollars in thousands): Property and Location Percent Acquired Date of Acquisition Purchase Price 2019 Acquisitions Core Soho Portfolio - 51 and 53 Greene Street (a) 100% Mar 15, 2019 Mar 27, 2019 $ 32,194 Total 2019 Acquisitions $ 32,194 2018 Acquisitions and Conversions Core Bedford Green Land Parcel - Bedford Hills, NY 100% Mar 23, 2018 $ 1,337 Subtotal Core 1,337 Fund IV Broughton Street Partners I - Savannah, GA (Conversion) ( Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core 1 $ 7,759 $ 57,342 $ 253 $ — 1 $ 65,354 Fund II — 7,462 — 738 — — 8,200 Fund III 1 21,242 12,313 642 — 1 34,197 Fund IV 1 83,834 — 1,730 — 1 85,564 Total 3 $ 120,297 $ 69,655 $ 3,363 $ — 3 $ 193,315 The number of properties in the table above refers to projects comprising the entire property; however, certain projects represent a portion of a property as follows: During the three months ended March 31, 2019, the Company placed a portion of one Core property (City Center) and a portion of one Fund III property (Cortlandt Crossing) into development and during 2017 the Company placed Fund II’s City Point Phase I and II project into service. Fund II amounts are comprised of the remaining City Point Phase III project. During the year ended December 31, 2018, the Company placed one Core development project into service. In addition to the consolidated projects noted above, the Company had one unconsolidated project in development at December 31, 2017, which it placed into service during the year ended December 31, 2018. Construction in progress pertains to construction activity at the Company’s operating properties which are in service and continue to operate during the construction period.

Notes Receivable, Net

Notes Receivable, Net	3 Months Ended
	Mar. 31, 2019
Accounts And Notes Receivable Net [Abstract]
Notes Receivable, Net	The Company’s notes receivable, net were generally collateralized either by the underlying properties or the borrower’s ownership interest in the entities that own the properties, and were as follows (dollars in thousands): March 31, December 31, March 31, 2019 Description 2019 2018 Number Maturity Date Interest Rate Core Portfolio $ 56,475 $ 56,475 2 Apr 2019 - Apr 2020 6.0% - 8.1% Fund II 32,738 32,582 1 Dec 2020 1.75% Fund III 5,306 5,306 1 Jul 2020 18.0% Fund IV 15,250 15,250 1 Feb 2021 15.3% $ 109,769 $ 109,613 5 During the three months ended March 31, 2019, the Company increased the balance of a Fund II note receivable by accrued interest of $0.2 million. During the year ended December 31, 2018, the Company: • exchanged $22.0 million of a Core note receivable plus accrued interest thereon of $0.3 million for an additional undivided interest in the Town Center property ( Note 4 • received full payment on $26.0 million of Core notes receivable plus accrued interest of $0.2 million; • funded an additional $2.8 million to its existing $15.0 million Core note receivable and entered into an agreement to extend the maturity to April 1, 2020; • advanced an additional $0.2 million on a Fund III note receivable; and • increased the balance of a Fund II note receivable by the interest accrued of $0.8 million. 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 12

Investments in and Advances to

Investments in and Advances to Unconsolidated Affiliates	3 Months Ended
	Mar. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
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): Nominal Ownership Interest March 31, December 31, Portfolio Property March 31, 2019 2019 2018 Core: 840 N. Michigan (a) 88.43% $ 64,561 $ 65,013 Renaissance Portfolio 20% 33,059 32,458 Gotham Plaza 49% 29,399 29,550 Town Center (a, b) 75.22% 99,106 99,758 Georgetown Portfolio 50% 4,761 4,653 230,886 231,432 Mervyns I & II: KLA/Mervyn's, LLC (c) 10.5% — — Fund III: Fund III Other Portfolio 90% 17 21 Self Storage Management (d) 95% 206 206 223 227 Fund IV: Broughton Street Portfolio (e) 50% 3,149 3,236 Fund IV Other Portfolio 90% 13,922 14,540 650 Bald Hill Road 90% 12,704 12,880 29,775 30,656 Fund V: Family Center at Riverdale 90% 48,610 — Various Funds: Due (to) from Related Parties (f) (701 ) (461 ) Other (g) 556 556 Investments in and advances to unconsolidated affiliates $ 309,349 $ 262,410 Core: Crossroads (h) 49% $ 15,415 $ 15,623 Distributions in excess of income from, and investments in, unconsolidated affiliates $ 15,415 $ 15,623 (a) Represents a tenancy-in-common interest. (b) During November 2017 and March 2018, as discussed below, the Company increased its ownership in Town Center. (c) Distributions, discussed below, have exceeded the Company’s non-recourse investment, therefore the carrying value is zero. (d) Represents a variable interest entity for which the Company was determined not to be the primary beneficiary. (e) The Company is entitled to a 15% return on its cumulative capital contribution which was $3.0 million at both March 31, 2019 and December 31, 2018. In addition, the Company is entitled to a 9% preferred return on a portion of its equity, which was $2.8 million at both March 31, 2019 and December 31, 2018. (f) Represents deferred fees. (g) Includes a cost-method investment in Albertson’s ( Note 8 (h) 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. Core Portfolio Acquisition of Unconsolidated Investment On January 24, 2019, the Renaissance Portfolio, in which the Company owns a 20% noncontrolling interest, acquired a 7,300 square foot property in Fund III’s 3104 M Street property located in Washington, D.C. for $10.7 million ( Note 2 Brandywine Portfolio, Market Square and Town Center The Company owns an 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.” Prior to the second quarter of 2016, the Company had a controlling interest in the Brandywine Portfolio, and it was therefore consolidated within the Company’s financial statements. During April 2016, the arrangement with the partners of the Brandywine Portfolio was modified to change the legal ownership from a partnership to a tenancy-in-common interest, as well as to provide certain participating rights to the outside partners. As a result of these modifications, the Company de-consolidated the Brandywine Portfolio and accounted for its interest under the equity method of accounting effective May 1, 2016. Furthermore, as the owners of the Brandywine Portfolio had consistent ownership interests before and after the modification and the underlying net assets were unchanged, the Company reflected the change from consolidation to equity method based upon its historical cost. The Brandywine Portfolio and Market Square ventures do not include the property held by Brandywine Holdings, an entity consolidated by the Company. Additionally, in April 2016, the Company repaid the outstanding balance of $140.0 million of non-recourse debt collateralized by the Brandywine Portfolio and provided a note receivable collateralized by the partners’ tenancy-in-common interest in the Brandywine Portfolio for their proportionate share of the repayment. On May 1, 2017, the Company exchanged $16.0 million of the $153.4 million notes receivable (the “Brandywine Notes Receivable”) ( Note 3 Note 2 On November 16, 2017, the Company exchanged $60.7 million of the Brandywine Notes Receivable plus accrued interest of $0.9 million for one of the partner’s 38.89% tenancy-in-common interests in Town Center. The incremental investment in Town Center was recorded at $61.6 million and the excess of this amount over the venture’s book value associated with this interest, or $34.5 million, is being amortized over the remaining depreciable lives of the venture’s assets. The Company previously had a 22.22% interest in Town Center which then became 61.11% following the November 2017 transaction. On March 28, 2018, the Company exchanged $22.0 million of its Brandywine Notes Receivable plus accrued interest of $0.3 million for one of the partner’s 14.11% tenancy-in-common interests in Town Center. The incremental investment in Town Center was recorded at $ 22.3 million and the excess of this amount over the venture’s book value associated with this interest, or $12.7 million, is being amortized over the remaining depreciable lives of the venture’s assets. The Company continues to apply the equity method of accounting for its aggregate 75.22% noncontrolling interest in Town Center after the March 2018 transaction. At March 31, 2019, $38.7 million of the Brandywine Note Receivable remains outstanding ( Note 3 Fund Investments Acquisition of Unconsolidated Investment in Fund V On March 19, 2019, Fund V acquired an interest in a venture which invested in a 428,000 square foot property located in Riverdale, Utah referred to as (“Family Center at Riverdale”) for $48.5 million. The Company accounts for its interest in the Family Center at Riverdale under the equity method of accounting as it does not control but exercises significant influence over the investment. 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 2 At March 31, 2019, the Broughton Street portfolio had 13 remaining properties, . Storage Post On May 15, 2018, Fund III’s Storage Post venture, which is a cost-method investment with no carrying value, distributed $3.2 million of which the Operating Partnership’s share was $0.8 million. 2018 Dispositions of Unconsolidated Investments On January 18, 2018, Fund IV’s Broughton Street Portfolio venture sold two properties for aggregate proceeds of $8.0 million, resulting in a net loss of $0.4 million at the property level of which the Fund’s share and the Operating Partnership’s proportionate share of the loss was zero, due to Fund IV’s preferred return. On June 29, 2018, Fund IV’s Broughton Street Portfolio venture terminated its master leases on two of its properties resulting in a net loss of $1.0 million at the property level for which the Operating Partnership’s share was less than $0.1 million. On August 29, 2018, Fund IV’s Broughton Street Portfolio venture sold a property for proceeds of $2.1 million, resulting in a net loss of $0.3 million at the property level, of which the Operating Partnership’s share was less than $0.1 million. Fees from Unconsolidated Affiliates The Company earned property management, construction, development, legal and leasing fees from its investments in unconsolidated partnerships totaling $0.2 million and $0.3 million for the three months ended March 31, 2019 and 2018, respectively, which is included in other revenues in the consolidated financial statements. In addition, the Company paid to certain unaffiliated partners of its joint ventures, $0.3 million and $0.5 million for the three months ended March 31, 2019 and 2018, 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 Income, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates (in thousands): March 31, 2019 December 31, 2018 Combined and Condensed Balance Sheets Assets: Rental property, net $ 571,205 $ 488,000 Investment in unconsolidated affiliates 6,853 6,853 Other assets 68,921 91,497 Total assets $ 646,979 $ 586,350 Liabilities and partners’ equity: Mortgage notes payable $ 444,642 $ 408,967 Other liabilities 59,303 54,675 Partners’ equity 143,034 122,708 Total liabilities and partners’ equity $ 646,979 $ 586,350 Company's share of accumulated equity $ 189,463 $ 141,384 Basis differential 103,360 104,084 Deferred fees, net of portion related to the Company's interest 1,812 1,780 Amounts payable by the Company (701 ) (461 ) Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates 293,934 246,787 Company's share of distributions in excess of income from and investments in unconsolidated affiliates 15,415 15,623 Investments in and advances to unconsolidated affiliates $ 309,349 $ 262,410 Three Months Ended March 31, 2019 2018 Combined and Condensed Statements of Income Total revenues $ 19,973 $ 20,156 Operating and other expenses (5,106 ) (5,921 ) Interest expense (4,776 ) (4,874 ) Depreciation and amortization (4,792 ) (6,055 ) Loss on disposition of properties — (418 ) Net income attributable to unconsolidated affiliates $ 5,299 $ 2,888 Company’s share of equity in net income of unconsolidated affiliates $ 2,995 $ 2,267 Basis differential amortization (724 ) (583 ) Company’s equity in earnings of unconsolidated affiliates $ 2,271 $ 1,684

Other Assets, Net and Accounts

Other Assets, Net and Accounts Payable and Other Liabilities	3 Months Ended
	Mar. 31, 2019
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 are comprised of the following for the periods presented: (in thousands) March 31, 2019 December 31, 2018 Other Assets, Net: Lease intangibles, net ( Note 6 ) $ 110,634 $ 115,939 Deferred charges, net (a) 28,874 28,619 Prepaid expenses 16,116 18,422 Other receivables 5,757 5,058 Accrued interest receivable 18,139 17,046 Deposits 6,588 4,611 Due from seller 4,000 4,000 Deferred tax assets 2,032 2,032 Derivative financial instruments ( Note 8 ) 3,528 7,018 Due from related parties 1,883 1,802 Corporate assets 1,837 1,953 Income taxes receivable 2,818 2,070 $ 202,206 $ 208,570 (a) Deferred Charges, Net: Deferred leasing and other costs $ 46,285 $ 45,011 Deferred financing costs related to line of credit 8,960 8,960 55,245 53,971 Accumulated amortization (26,371 ) (25,352 ) Deferred charges, net $ 28,874 $ 28,619 Accounts Payable and Other Liabilities: Lease intangibles, net ( Note 6 ) $ 86,819 $ 95,045 Capital lease obligations — 71,111 Lease liability - finance leases, net ( Note 11 76,993 — Lease liability - operating leases, net ( Note 11 12,435 — Accounts payable and accrued expenses 59,451 65,215 Deferred income 28,621 34,052 Tenant security deposits, escrow and other 11,185 10,588 Derivative financial instruments ( Note 8 ) 17,374 7,304 Income taxes payable — 19 Other 141 2,738 $ 293,019 $ 286,072

Lease Intangibles

Lease Intangibles	3 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Lease Intangibles	Upon acquisitions of real estate, the Company assesses the 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 other liabilities ( Note 5 March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease intangible assets $ 220,293 $ (114,578 ) $ 105,715 $ 216,021 $ (105,972 ) $ 110,049 Above-market rent 17,754 (12,835 ) 4,919 18,169 (12,279 ) 5,890 $ 238,047 $ (127,413 ) $ 110,634 $ 234,190 $ (118,251 ) $ 115,939 Amortizable Intangible Liabilities Below-market rent $ (152,482 ) $ 66,226 $ (86,256 ) $ (152,188 ) $ 57,721 $ (94,467 ) Above-market ground lease (671 ) 108 (563 ) (671 ) 93 (578 ) $ (153,153 ) $ 66,334 $ (86,819 ) $ (152,859 ) $ 57,814 $ (95,045 ) During the three months ended March 31, 2019, the Company acquired in-place lease intangible assets of $2.9 million with weighted-average useful lives of 8.1 years. During the year ended December 31, 2018, the Company acquired in-place lease intangible assets of $24.2 million, above-market rents of $2.5 million, and below-market rents of $7.9 million with weighted-average useful lives of 5.2, 5.1, and 20.5 years, respectively. 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 income. Amortization of above-market ground leases are recorded as a reduction to rent expense in the consolidated statements of income. The scheduled amortization of acquired lease intangible assets and assumed liabilities as of March 31, 2019 is as follows (in thousands): Years Ending December 31, Net Increase in Lease Revenues Increase to Amortization Reduction of Rent Expense Net (Expense) Income 2019 (Remainder) $ 6,418 $ (20,111 ) $ 44 $ (13,649 ) 2020 8,217 (20,671 ) 58 (12,396 ) 2021 7,739 (15,351 ) 58 (7,554 ) 2022 7,380 (10,627 ) 58 (3,189 ) 2023 7,406 (8,481 ) 58 (1,017 ) Thereafter 44,177 (30,474 ) 287 13,990 Total $ 81,337 $ (105,715 ) $ 563 $ (23,815 )

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	A summary of the Company’s consolidated indebtedness is as follows (dollars in thousands): Interest Rate at Carrying Value at March 31, December 31, Maturity Date at March 31, December 31, 2019 2018 March 31, 2019 2019 2018 Mortgages Payable Core Fixed Rate 3.88%-6.00% 3.88%-6.00% Feb 2024 - Apr 2035 $ 177,778 $ 178,271 Core Variable Rate - Swapped (a) 3.41%-5.67% 3.41%-5.67% Jan 2023 - Nov 2028 82,327 82,583 Total Core Mortgages Payable 260,105 260,854 Fund II Fixed Rate 1.00%-4.75% 1.00%-4.75% May 2020 - Aug 2042 205,262 205,262 Fund II Variable Rate LIBOR+1.39%-LIBOR+3.00% — March 2022 23,484 — Fund II Variable Rate - Swapped (a) 4.27% 4.27% Nov 2021 19,264 19,325 Total Fund II Mortgages Payable 248,010 224,587 Fund III Variable Rate LIBOR+2.65%-LIBOR+4.65% Prime+0.50%-LIBOR+4.65% Jun 2020 - Jul 2020 89,908 90,096 Fund IV Fixed Rate 3.40%-4.50% 3.40%-4.50% Oct 2025 - Jun 2026 8,188 8,189 Fund IV Variable Rate LIBOR+1.60%-LIBOR+3.95% LIBOR+1.60%-LIBOR+3.95% May 2019 - Aug 2021 231,884 233,065 Fund IV Variable Rate - Swapped (a) 3.67%-4.81% 3.67%-4.23% Mar 2020 - Dec 2022 73,848 71,841 Total Fund IV Mortgages Payable 313,920 313,095 Fund V Variable Rate LIBOR+2.15%-LIBOR+2.25% LIBOR+2.25% Oct 2020 - Jan 2021 51,506 51,506 Fund V Variable Rate - Swapped (a) 4.01%-4.78% 4.61%-4.78% Feb 2021 - Mar 2024 156,900 86,570 Total Fund V Mortgage Payable 208,406 138,076 Net unamortized debt issuance costs (11,917 ) (10,173 ) Unamortized premium 728 753 Total Mortgages Payable $ 1,109,160 $ 1,017,288 Unsecured Notes Payable Core Term Loans — LIBOR+1.25% Mar 2023 $ — $ 383 Core Variable Rate Unsecured Term Loans - Swapped (a) 2.49%-4.05% 2.54%-3.59% Mar 2023 350,000 349,617 Total Core Unsecured Notes Payable 350,000 350,000 Fund II Unsecured Notes Payable LIBOR+1.65% LIBOR+1.40% Sep 2020 40,000 40,000 Fund IV Term Loan/Subscription Facility LIBOR+1.65%-LIBOR+2.75% LIBOR+1.65%-LIBOR+2.75% Oct 2019 - Dec 2019 40,825 40,825 Fund V Subscription Facility LIBOR+1.60% LIBOR+1.60% May 2020 50,600 102,800 Net unamortized debt issuance costs (406 ) (368 ) Total Unsecured Notes Payable $ 481,019 $ 533,257 Unsecured Line of Credit Core Unsecured Line of Credit — — — $ — $ — Core Unsecured Line of Credit - Swapped (a) 4.15%-5.02% — Mar 2022 9,000 — Total Unsecured Line of Credit $ 9,000 $ — Total Debt - Fixed Rate (b)(c) $ 1,173,129 $ 1,001,658 Total Debt - Variable Rate (d) 437,645 558,675 Total Debt 1,610,774 1,560,333 Net unamortized debt issuance costs (12,323 ) (10,541 ) Unamortized premium 728 753 Total Indebtedness $ 1,599,179 $ 1,550,545 (a) At March 31, 2019, the stated rates ranged from LIBOR + 1.70% to LIBOR +1.90% for Core variable-rate debt; LIBOR + 1.39% for Fund II variable-rate debt; LIBOR + 2.65% to LIBOR + 4.65% for Fund III variable-rate debt; LIBOR + 1.60% to LIBOR +3.95% for Fund IV variable-rate debt; LIBOR + 2.15% to LIBOR + 2.25% for Fund V variable-rate debt; LIBOR + 1.25% for Core variable-rate unsecured term loans; and LIBOR + 1.35% for Core variable-rate unsecured lines of credit. (b) Includes $691.3 million and $609.9 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented. (c) Fixed-rate debt at March 31, 2019 includes $90.5 million of swaps that are not designated to specific debt instruments. (d) Includes $167.3 million and $143.8 million, respectively, of variable-rate debt that is subject to interest cap agreements. Credit Facility On February 20, 2018, the Company entered into a $500.0 million senior unsecured credit facility (the “Credit Facility”), comprised of a $150.0 million senior unsecured revolving credit facility (the “Revolver”) which bears interest at LIBOR + 1.35%, and a $350.0 million senior unsecured term loan (the “Term Loan”) which bears interest at LIBOR + 1.25%. The Credit Facility refinanced the Company’s existing $300.0 million credit facility (comprised of the $150.0 million Core unsecured revolving line of credit and the $150.0 million term loan), $150.0 million in Core unsecured term loans and repaid a $40.4 million mortgage secured by its 664 North Michigan Property. The Revolver and Term Loans mature on March 31, 2022 and March 31, 2023, respectively. Mortgages Payable During the three months ended March 31, 2019, the Company obtained four new Fund mortgages totaling $118.3 million with a weighted-average interest rate of LIBOR + 1.64% collateralized by four properties and maturing in 2022 through 2024. The Company entered into interest rate swap contracts to effectively fix the variable portion of the interest rates of three of these obligations with a notional value of $72.6 million at an interest rate of 2.42%. In addition, the Company drew down $4.5 million on a Fund III construction loan. During the three months ended March 31, 2019, one Fund III mortgage, which had a balance of $4.7 million and an interest rate of Prime + 0.5%, was assumed by the purchasing venture in a property sale (As discussed above, the Core unsecured revolving line of credit was refinanced in February 2018. The Company had a total of $120.7 million and $137.7 million, respectively, available under its $150.0 million Core unsecured revolving lines of credit reflecting borrowings of $9.0 million and $0 million, respectively, and letters of credit of $20.3 million and $12.3 million at March 31, 2019 and December 31, 2018, respectively. At March 31, 2019 and December 31, 2018, all of the Core unsecured revolving line of credit was swapped to a fixed rate. Scheduled Debt Principal Payments The scheduled principal repayments of the Company’s consolidated indebtedness, as of March 31, 2019 are as follows (in thousands): Year Ending December 31, 2019 (Remainder) $ 217,523 2020 479,743 2021 174,345 2022 85,067 2023 412,305 Thereafter 241,791 1,610,774 Unamortized premium 728 Net unamortized debt issuance costs (12,323 ) Total indebtedness $ 1,599,179 See Note 4

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
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 are included in Cash and cash equivalents in the consolidated financial statements, 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. Derivative Assets — The Company has derivative assets, which are included in Other assets, net in the consolidated financial statements, are 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 in the consolidated financial statements, 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. The Company did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during the three months ended March 31, 2019 or 2018. 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): March 31, 2019 December 31, 2018 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money Market Funds $ 1,000 $ — $ — $ 4,504 $ — $ — Derivative financial instruments — 3,528 — — 7,018 — Liabilities Derivative financial instruments — 17,374 — — 7,304 — 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) The Company did not record any impairment charges during the three months ended March 31, 2019 or 2018. Derivative Financial Instruments The Company had the following interest rate swaps 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 March 31, 2019 December 31, 2018 Core Interest Rate Swaps $ 286,058 Dec 2012-July 2020 Mar 2022-July 2030 2.22 % — 3.77 % Other Liabilities (a) $ (15,104 ) $ (6,332 ) Interest Rate Swaps 245,827 Feb 2013 - Dec 2017 Nov 2019-June 2026 1.24 % — 3.77 % Other Assets 3,129 6,022 $ 531,885 $ (11,975 ) $ (310 ) Fund II Interest Rate Swap $ 19,264 Oct 2014 Nov 2021 2.88 % — 2.88 % Other Assets $ 16 $ 108 Interest Rate Cap 23,300 Mar 2019 Mar 2022 3.50 % — 3.50 % Other Assets 17 — $ 42,564 $ 33 $ 108 Fund III Interest Rate Cap $ 58,000 Dec 2016 Jan 2020 3.00 % — 3.00 % Other Assets $ — $ 8 Fund IV Interest Rate Swaps $ 71,602 Mar 2017 - Nov 2017 Mar 2020 - Dec 2022 1.82 % — 2.11 % Other Assets $ 366 $ 851 Interest Rate Swap 2,246 Jan 2019 Apr 2022 2.61 % — 2.61 % Other Liabilities (37 ) — Interest Rate Caps 108,900 July 2016 - Nov 2016 Aug 2019 - Dec 2019 3.00 % — 3.00 % Other Assets — 8 $ 182,748 $ 329 $ 859 Fund V Interest Rate Swap $ — $ — $ 21 Interest Rate Swaps 156,900 Jan 2018-Mar 2019 Feb 2021-Mar 2024 2.27 % — 2.88 % Other Liabilities (2,233 ) (972 ) $ 156,900 $ (2,233 ) $ (951 ) Total asset derivatives $ 3,528 $ 7,018 Total liability derivatives $ (17,374 ) $ (7,304 ) (a) Includes two swaps with a fair value of ($6.1) million and ($2.9) million at March 31, 2019 and December 31, 2018, respectively, which were acquired during July 2018 and are not effective until July 2020. 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 7 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 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. The Company has not entered, and does not plan to enter, into any derivative financial instruments for trading or speculative purposes. The following table presents the location in the financial statements of the income (losses) recognized related to the Company’s cash flow hedges (in thousands): Three Months Ended March 31, 2019 2018 Amount of (loss) income recognized in other comprehensive income $ (13,306 ) $ 5,653 Amount of (income) loss subsequently reclassified to earnings (551 ) 363 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): March 31, 2019 December 31, 2018 Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Notes Receivable (a) 3 $ 109,769 $ 108,343 $ 109,613 $ 107,370 Mortgage and Other Notes Payable (a) 3 1,120,349 1,122,067 1,026,708 1,021,075 Investment in non-traded equity securities (b) 3 — 23,208 — 23,208 Unsecured notes payable and Unsecured line of credit (c) 2 490,425 490,819 533,625 533,954 (a) 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. (b) Represents Fund II’s cost-method investment in Albertson’s supermarkets ( Note 4 (c) 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, accounts receivable, accounts payable and certain financial instruments included in other assets and other liabilities had fair values that approximated their carrying values at March 31, 2019.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	The Company is involved in various matters of litigation arising in the normal course of business. While the Company is unable to predict with certainty the amounts involved, the Company’s management and counsel are of the opinion that, when such litigation is resolved, the Company’s resulting liability, if any, will not have a significant effect on the Company’s consolidated financial position, results of operations, or liquidity. The Company's policy is to accrue legal expenses as they are incurred. 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 $69.9 million and $55.5 million as of March 31, 2019 and December 31, 2018, respectively. At March 31, 2019 and December 31, 2018, the Company had letters of credit outstanding of $27.7 million and $19.7 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, Noncontro

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income	3 Months Ended
	Mar. 31, 2019
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income	Common Shares and Units The Company completed the following transactions in its common shares during the three months ended March 31, 2019: • The Company withheld 2,468 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 totaling $1.9 million in connection with Restricted Shares and Units ( Note 13 The Company completed the following transactions in its common shares during the year ended December 31, 2018: • The Company withheld 3,288 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 totaling $8.4 million in connection with Restricted Shares and Units ( Note 13 ATM Program The Company has an at-the-market (“ATM”) equity issuance program which provides the Company an efficient and low-cost vehicle for raising public equity to fund its capital needs. During the first quarter, the Company sold 970,835 shares under its ATM program for gross proceeds of $28.2 million, at a weighted-average price of $29.08, or $27.8 million net of issuance costs. Share Repurchase Program During 2018, the Company’s board of trustees 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 repurchased 2,294,235 shares for $55.1 million, inclusive of $0.1 million of fees, during the year ended December 31, 2018. During the three months ended March 31, 2019, the Company made no repurchases under the share repurchase program, under which $144.9 million currently remains available. Dividends and Distributions On November 15, 2018, the Board of Trustees declared a $0.28 per Common Share, which was an increase of $0.01 to the regular quarterly cash dividend and was paid on January 15, 2019 to holders of record as of December 31, 2018. On February 28, 2019, the Board of Trustees declared $0.28 per Common Share regular quarterly cash dividend, which was paid on April 15, 2019 to holders of record as of March 29, 2019. Accumulated Other Comprehensive Income The following table sets forth the activity in accumulated other comprehensive income for the three months ended March 31, 2019 and 2018 (in thousands): Gains or Losses on Derivative Instruments Balance at January 1, 2019 $ 516 Other comprehensive loss before reclassifications (13,306 ) Reclassification of realized interest on swap agreements (551 ) Net current period other comprehensive loss (13,857 ) Net current period other comprehensive loss attributable to noncontrolling interests 2,320 Balance at March 31, 2019 $ (11,021 ) Balance at January 1, 2018 $ 2,614 Other comprehensive income before reclassifications 5,653 Reclassification of realized interest on swap agreements 363 Net current period other comprehensive income 6,016 Net current period other comprehensive income attributable to noncontrolling interests (1,254 ) Balance at March 31, 2018 $ 7,376 Noncontrolling Interests The following table summarizes the change in the noncontrolling interests for the three months ended March 31, 2019 and 2018 (dollars in thousands): Noncontrolling Interests in Operating Partnership (a) Noncontrolling Interests in Partially-Owned Affiliates (b) Total Balance at January 1, 2019 $ 104,223 $ 518,219 $ 622,442 Distributions declared of $0.28 per Common OP Unit (1,781 ) — (1,781 ) Net income (loss) for the three months ended March 31, 2019 931 (10,192 ) (9,261 ) Conversion of 174,529 Common OP Units to Common Shares by limited partners of the Operating Partnership (2,953 ) — (2,953 ) Other comprehensive loss - unrealized loss on valuation of swap agreements (694 ) (1,605 ) (2,299 ) Reclassification of realized interest expense on swap agreements (22 ) 1 (21 ) Noncontrolling interest contributions — 32,191 32,191 Noncontrolling interest distributions — (3,237 ) (3,237 ) Employee Long-term Incentive Plan Unit Awards 3,360 — 3,360 Rebalancing adjustment (c) 1,980 — 1,980 Balance at March 31, 2019 $ 105,044 $ 535,377 $ 640,421 Balance at January 1, 2018 $ 102,921 $ 545,519 $ 648,440 Distributions declared of $0.27 per Common OP Unit (1,721 ) — (1,721 ) Net income (loss) for the three months ended March 31, 2018 612 (12,191 ) (11,579 ) Conversion of 36,126 Common OP Units to Common Shares by limited partners of the Operating Partnership (642 ) — (642 ) Other comprehensive income - unrealized gain on valuation of swap agreements 274 886 1,160 Reclassification of realized interest expense on swap agreements 10 84 94 Noncontrolling interest distributions — (695 ) (695 ) Employee Long-term Incentive Plan Unit Awards 3,716 — 3,716 Rebalancing adjustment (c) 1,225 — 1,225 Balance at March 31, 2018 $ 106,395 $ 533,603 $ 639,998 (a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,325,240 and 3,328,873 Common OP Units at March 31, 2019 and March 31, 2018; (ii) 188 Series A Preferred OP Units at March 31, 2019 and March 31, 2018; (iii) 136,593 Series C Preferred OP Units at March 31, 2019 and March 31, 2018; and (iv) 2,726,043 and 2,619,872 LTIP units at March 31, 2019 and March 31, 2018, respectively, as discussed in Share Incentive Plan (). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above. (b) Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and six other subsidiaries. (c) 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 (the “Rebalancing”). Preferred OP Units There were no issuances of Preferred OP Units during the three months ended March 31, 2019. 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% 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 March 31, 2019, 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 4

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	As Lessor The Company implemented ASC Topic 842, Leases Note 1 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 three months ended March 31, 2019, the Company earned $13.3 million in variable lease revenues, primarily for real estate taxes and common area maintenance charges, which are included in lease revenues in the consolidated statements of income. As Lessee As lessee, upon implementation of ASC Topic 842, the Company recorded right-of-use assets and corresponding lease liabilities of $11.9 million and $12.8 million, respectively, for nine existing operating leases (for ground, office and equipment leases) and $82.6 million and $76.6 million, respectively, for four finance leases related to ground rentals including an existing capital lease which represented $77.0 million and $71.1 million, respectively, of the total. Three finance leases were recorded post-implementation upon assessment of triggering events whereby the Company’s cumulative leasehold investment made it reasonably certain that the Company would exercise its purchase options. Three Months Ended March 31, 2019 2018 Lease Cost (Not applicable) Finance lease cost: Amortization of right-of-use assets $ 496 Interest on lease liabilities 843 Subtotal 1,339 Operating lease cost 536 Variable lease cost 32 Total lease cost $ 1,907 Other Information Weighted-average remaining lease term - finance leases (years) 47.4 Weighted-average remaining lease term - operating leases (years) 8.4 Weighted-average discount rate - finance leases 4.4 % Weighted-average discount rate - operating leases 5.0 % Right-of-use assets are included in Operating real estate ( Note 2 Note 5 Lease Disclosures Related to Prior Periods The Company leased land at six of its shopping centers, which were accounted for as operating leases through December 31, 2018 and generally provide the Company with renewal options. Ground rent expense was $0.4 million (including capitalized ground rent at a property under development of $0.2 million) for the three months ended March 31, 2018. The leases terminate at various dates between 2020 and 2066. These leases provide the Company with options to renew for additional terms aggregating up to 25 to 71 years. The Company also leases space for its corporate office. Office rent expense under this lease was $0.2 million for the three months ended March 31, 2018. During 2016, the Company entered into a 49-year master lease, which was accounted for as a capital lease through December 31, 2018 and was later reclassified as a finance lease upon implementation of ASC 842 as described above. During the three months ended March 31, 2018, payments for this lease totaled $0.6 million. The property under the capital lease is included in Note 2 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 March 31, 2019, are summarized as follows (in thousands): Year Ending December 31, Minimum Rental Revenues Minimum Rental Payments 2019 (Remainder) $ 139,533 $ 3,590 2020 186,498 4,571 2021 167,505 4,354 2022 147,103 4,404 2023 128,675 4,425 Thereafter 562,214 180,618 Total $ 1,331,528 $ 201,962 A ground lease expiring during 2078 provides the Company with an option to purchase the underlying land during 2031. If the Company does not exercise the option, the rents that will be due are based on future values and as such are not determinable at this time. Accordingly, the above table does not include rents for this lease beyond 2031. During the three months ended March 31, 2019 and 2018, no single tenant collectively comprised more than 10% of the Company’s consolidated total revenues.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
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 3 The following tables set forth certain segment information for the Company (in thousands): As of or for the Three Months Ended March 31, 2019 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 46,687 $ 28,113 $ — $ — $ 74,800 Depreciation and amortization (15,679 ) (14,654 ) — — (30,333 ) Property operating expenses, other operating and real estate taxes (11,996 ) (9,954 ) — — (21,950 ) General and administrative expenses — — — (8,323 ) (8,323 ) Operating income 19,012 3,505 — (8,323 ) 14,194 Gain on disposition of properties — 2,014 — — 2,014 Interest income — — 2,270 — 2,270 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 2,270 1 — — 2,271 Interest expense (6,693 ) (11,166 ) — — (17,859 ) Income tax benefit — — — 46 46 Net income (loss) 14,589 (5,646 ) 2,270 (8,277 ) 2,936 Net (income) loss attributable to noncontrolling interests (41 ) 9,302 — — 9,261 Net income attributable to Acadia $ 14,548 $ 3,656 $ 2,270 $ (8,277 ) $ 12,197 Real estate at cost $ 2,114,727 $ 1,640,864 $ — $ — $ 3,755,591 Total assets $ 2,244,349 $ 1,684,757 $ 109,769 $ — $ 4,038,875 Cash paid for acquisition of real estate $ 32,034 $ — $ — $ — $ 32,034 Cash paid for development and property improvement costs $ 4,033 $ 15,876 $ — $ — $ 19,909 As of or for the Three Months Ended March 31, 2018 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 41,628 $ 21,496 $ — $ — $ 63,124 Depreciation and amortization (15,498 ) (13,078 ) — — (28,576 ) Property operating expenses, other operating and real estate taxes (10,894 ) (8,483 ) — — (19,377 ) General and administrative expenses — — — (8,470 ) (8,470 ) Operating income (loss) 15,236 (65 ) — (8,470 ) 6,701 Interest income — — 3,737 — 3,737 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 1,426 258 — — 1,684 Interest expense (6,502 ) (9,388 ) — — (15,890 ) Income tax provision — — — (392 ) (392 ) Net income (loss) 10,160 (9,195 ) 3,737 (8,862 ) (4,160 ) Net (income) loss attributable to noncontrolling interests (73 ) 11,652 — — 11,579 Net income attributable to Acadia $ 10,087 $ 2,457 $ 3,737 $ (8,862 ) $ 7,419 Real estate at cost $ 2,042,280 $ 1,487,525 $ — $ — $ 3,529,805 Total assets $ 2,283,451 $ 1,546,566 $ 108,959 $ — $ 3,938,976 Cash paid for acquisition of real estate $ 1,337 $ 44,834 $ — $ — $ 46,171 Cash paid for development and property improvement costs $ 5,946 $ 12,190 $ — $ — $ 18,136

Share Incentive and Other Compe

Share Incentive and Other Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share Incentive and Other Compensation	Share Incentive Plan The Second Amended and Restated 2006 Incentive Plan (the “Share Incentive 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 March 31, 2019 a total of 731,267 shares remained available to be issued under the Share Incentive Plan. Restricted Shares and LTIP Units During the three months ended March 31, 2019, the Company issued 330,718 LTIP Units and 8,041 Restricted Share Units to employees of the Company pursuant to the Share Incentive Plan. These awards were measured at their fair value on the grant date, based on a valuation provided by an independent third-party appraiser incorporating the following factors: • A portion of these annual equity award 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, 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 ending December 31, 2021 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 2019 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 (19.60%) and risk-free interest rates (2.5%). The total value of the above Restricted Share Units and LTIP Units as of the grant date was $ 11.1 million. Total long-term incentive compensation expense, including the expense related to the Share Incentive Plan, was $1.9 million and $2.2 million for the three months ended March 31, 2019 and 2018, respectively and is recorded in General and Administrative on the Consolidated Statements of Income. In addition, members of the Board of Trustees (the “Board”) have been issued shares and units under the Share Incentive Plan. During 2018, the Company issued 17,427 LTIP Units and 17,050 Restricted Shares to Trustees of the Company in connection with Trustee fees. Vesting with respect to 8,949 of the LTIP Units and 5,181 of the Restricted Shares will be on the first anniversary of the date of issuance and 8,478 of the LTIP Units and 11,869 of the Restricted Shares vest over three years with 33% vesting on each of the next three anniversaries of the issuance date. 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 $0.3 million for each of the three months ended March 31, 2019 and 2018. 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. The Company has granted such awards to employees representing 25% of the potential Promote payments from Fund III to the Operating Partnership, 22.8% of the potential Promote payments from Fund IV to the Operating Partnership and 2.2% 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. No compensation expense was recognized for the three months ended March 31, 2019 and 2018, respectively, 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, 2018 41,327 $ 26.92 910,099 $ 28.28 Granted 22,817 23.65 425,880 26.80 Vested (25,261 ) 30.79 (431,827 ) 29.72 Forfeited (428 ) 27.25 (12,266 ) 28.57 Unvested at December 31, 2018 38,455 22.44 891,886 26.87 Granted 8,041 30.83 330,718 33.09 Vested (7,288 ) 29.87 (275,447 ) 30.52 Forfeited — — (3,588 ) 27.55 Unvested at March 31, 2019 39,208 $ 22.78 943,569 $ 27.98 The weighted-average grant date fair value for Restricted Shares and LTIP Units granted for the three months ended March 31, 2019 and the year ended December 31, 2018 were $33.04 and $26.64, respectively. As of March 31, 2019, there was $21.5 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 1.9 years. The total fair value of Restricted Shares that vested for the three months ended March 31, 2019 and the year ended December 31, 2018, was $0.2 million and $0.8 million, respectively. The total fair value of LTIP Units that vested during the three months ended March 31, 2019 and the year ended December 31, 2018, was $8.4 million and $12.8 million, respectively. Other Plans On a combined basis, the Company incurred a total of $0.1 million related to the following employee benefit plans for each of the three months ended March 31, 2019 and 2018: 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 the $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. A total of 706 and 943 Common Shares were purchased by employees under the Purchase Plan for the three months ended March 31, 2019 and 2018, 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 $19,000, for the year ending December 31, 2019.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	Basic earnings per Common Share is computed by dividing net income attributable to Common Shareholders by the weighted average Common Shares outstanding ( Note 10 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 (“Restricted Share Units”) issued under the Company’s Share Incentive Plans ( Note 13 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. Three Months Ended March 31, (dollars in thousands) 2019 2018 Numerator: Net income attributable to Acadia $ 12,197 $ 7,419 Less: net income attributable to participating securities (68 ) (44 ) Income from continuing operations net of income attributable to participating securities $ 12,129 $ 7,375 Denominator: Weighted average shares for basic earnings per share 82,032,852 83,434,083 Effect of dilutive securities: Employee unvested restricted shares 4,562 4,394 Denominator for diluted earnings per share 82,037,414 83,438,477 Basic and diluted earnings per Common Share from continuing operations attributable to Acadia $ 0.15 $ 0.09 Anti-Dilutive Shares Excluded from Denominator: Series A Preferred OP Units 188 188 Series A Preferred OP Units - Common share equivalent 25,067 25,067 Series C Preferred OP Units 136,593 136,593 Series C Preferred OP Units - Common share equivalent 474,278 474,278

Organization, Basis of Presen_2

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Segments	Segments At March 31, 2019, 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 basis and does not differentiate properties on a geographical basis for purposes of allocating resources or capital.
Principles of Consolidation	Principles of Consolidation The interim 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 Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810 “Consolidation” (“ASC Topic 810”). 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. The interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full fiscal year. The information furnished in the accompanying consolidated financial statements reflects all adjustments that, in the opinion of management, are necessary for a fair presentation of the aforementioned consolidated financial statements for the interim periods. Such adjustments consisted of normal recurring items. These interim consolidated financial statements should be read in conjunction with the Company’s 2018 Annual Report on Form 10-K, as filed with the SEC on February 19, 2019.
Use of Estimates	Use of Estimates GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the interim 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.
Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Lease Accounting In February 2016, the FASB issued ASU No. 2016-02 , Leases (Topic 842). Revenue from Contracts with Customers • A package of three practical expedients that must be elected together for all leases and includes: (i) not reassessing expired or existing contracts as to whether they are or contain leases; (ii) not reassessing lease classification of existing leases and (iii) not reassessing the amount of capitalized initial direct costs for existing leases; • A practical expedient to use hindsight in determining the lease term or assessing purchase options for existing leases and in assessing impairment of right of use assets; • Lessees may make an accounting policy election by class of underlying asset not to separate lease components from non-lease components; and • Lessees may make an accounting policy election not to apply the recognition and measurement requirements to short-term leases. ASU 2016-02 was modified by the following subsequently issued ASU’s (together with ASU 2016-02, “Topic 842”), many of which provided additional transition practical expedients: • ASU 2018-01, Land Easements Practical Expedient for Transition to Topic 842 • ASU No. 2018-10, Codification Improvements to Topic 842, Leases • ASU 2018-11, Leases (Topic 842): Targeted Improvements o The amendments in this Update provide entities with an additional optional transition method to adopt ASU 2016-02. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity’s reporting under this additional transition method for the comparative periods presented in the financial statements in which it adopts the new leases standard would continue to be in accordance with former GAAP (Topic 840, Leases). o The amendments in this Update also provide lessors with a practical expedient, by class of underlying asset, to make a policy election to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if the non-lease components otherwise would be accounted for under the new revenue guidance (Topic 606). Conditions are required to elect the practical expedient, and if met, the single component will be accounted for under either under Topic 842 or Topic 606 depending on which component(s) are predominant. The lessor practical expedient to not separate non-lease components from the associated component must be elected for all existing and new leases. • ASU 2018-20, Leases (Topic 842), Narrow-Scope Improvements for Lessors • ASU 2019-01, Leases (Topic 842), Codification Improvements Under the new leasing guidance, contract consideration shall be allocated to its lease components (such as the lease of retail properties) and non-lease components (such as maintenance). For lessors, any non-lease components will be accounted for under Topic 606 former GAAP (Topic 840, Leases ). The Company adopted Topic 842 effective January 1, 2019 utilizing the new transition method described in ASU 2018-11 and has availed itself of all the available practical expedients described above except it did not use hindsight in determining the lease term or assessing purchase options for existing leases and in assessing impairment of right of use assets. As lessor, the Company has more than 1,000 leases primarily with retail tenants and to a lesser extent with office and residential tenants. A significant majority of its leases are on a triple-net basis. The impact of adoption of ASU 2016-02 for the Company as lessor was as follows: • The Company has elected the lessor practical expedient to not separate common area maintenance from the associated lease for all existing and new leases and to account for the combined component as a single lease component. Common area maintenance is considered a non-lease component within the scope of Topic 606 and reimbursements of taxes and insurance are considered contractual payments that do not transfer a good or service to the tenant; however, such revenues related to leases, which were formerly reported as reimbursed expenses, will be reported within lease revenues in the presentation of the statement of income subsequent to the implementation of ASC 842. Prior year classifications under ASC 840 will not be adjusted. • Due to its election of available practical expedients, the Company expects that post-adoption substantially all existing leases, and new leases compared to similar existing leases, will have no change in the timing of revenue recognition. • The Company’s internal leasing costs will be expensed as incurred, as opposed to being capitalized and deferred. Commissions subsequent to successful lease execution will continue to be capitalized. After adoption, the Company will no longer capitalize internal leasing costs that were previously capitalized (the Company capitalized $1.8 million of internal leasing costs during the year ended December 31, 2018 • The Company has existing easement arrangements that have not been previously identified as leases. The Company expects that its existing and similar future easement arrangements will not be classified as rental revenue but as other revenues as these arrangements do not transfer control to the counterparty. • The Company makes a policy election to continue to account for only those taxes described under ASU 2018-20 that it pays on behalf of the tenant as reimbursable costs and will not account for those taxes paid directly by the lessee which are considered lessee costs. As lessee, the Company is party to 13 ground, office and equipment leases with future payment obligations aggregating $203.1 million at December 31, 2018 follows ( Note 11 ): • As lessee, the Company has applied the following practical expedients in the implementation ASU 2016-02: (i) to not separate non-lease components from the associated lease component as described above and (ii) to not apply the right-of-use recognition requirements to short-term leases. As such, there were no changes in the timing of recognition of expenses related to its operating leases. • The Company recognized right-of-use assets and lease liabilities of $11.9 million and $12.8 million, respectively, related to its operating leases. • The Company reclassified its existing capital lease asset of $77.0 million and capital lease liability of $71.1 million to a right-of-use asset and a lease liability, respectively, pertaining to finance leases. • Subsequent to the adoption of and in accordance with Topic 842, the Company reassessed the circumstances surrounding three of its operating ground leases and determined that it had made significant leasehold improvements and was now reasonably certain to exercise their purchase options. Accordingly, the Company reclassified the existing right-of-use assets and lease liabilities from operating leases to finance leases and adjusted the leases’ right-of-use assets and corresponding lease liabilities to $5.7 million and $5.7 million, respectively, to incorporate the present value of the purchase options, which totaled $4.7 million at January 1, 2019. • With the adoption of ASC Topic 842, the Company will no longer provide a reserve for uncollectible receivables; they will be written-off. Accordingly, tenant receivables will not be presented net of an allowance for doubtful accounts on the balance sheet. The write-off of the tenant receivables will be presented as a reduction of revenue rather than as an operating expense on the income statement. In addition, rental income related to tenants with uncollectible receivables will be recorded on a cash basis and straight-line rent will be suspended. The Company did not record any cumulative effect of change in accounting principle upon the adoption of ASC Topic 842 as lessor or lessee. Consistent with the transition guidance under ASU 2018-11, all prior period disclosures remain in accordance with ASC Topic 840. Other Accounting Topics In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In July 2018, the FASB issued ASU No. 2018-09, Codification Improvements Recently Issued Accounting Pronouncements In November 2018, the FASB issued ASU No. 2018-19 Codification Improvements to Topic 326, Financial Instruments – Credit Losses Financial Instruments – Credit Losses – Measure at Amortized Cost Leases. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. Revenue from Contracts with Customers In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

Organization, Basis of Presen_3

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 Unfunded Commitment Equity Interest Held By Operating Partnership (a) Preferred Return Total Distributions as of March 31, 2019 (b) Fund II and Mervyns II (c) 6/2004 28.33 % $ 347.1 $ — 28.33 % 8 % $ 146.6 Fund III 5/2007 24.54 % 426.3 23.7 24.54 % 6 % 554.8 Fund IV 5/2012 23.12 % 425.4 104.6 23.12 % 6 % 147.4 Fund V 8/2016 20.10 % 118.3 401.7 20.10 % 6 % — (a) Amount represents the current economic ownership at March 31, 2019, which could differ from the stated legal ownership based upon the cumulative preferred returns of the respective Fund. (b) Represents the total for the Funds, including the Operating Partnership and noncontrolling interests’ shares. (c) During April 2018, a distribution of $15.0 million was made to the Fund II investors, including $4.3 million to the Operating Partnership. This amount remains subject to re-contribution to Fund II until April 2021.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2019
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 (in thousands): March 31, 2019 December 31, 2018 Land $ 705,402 $ 710,469 Buildings and improvements 2,574,459 2,594,828 Tenant improvements 157,502 151,154 Construction in progress 30,413 44,092 Properties under capital lease — 76,965 Right-of-use assets - finance leases 82,629 — Right-of-use assets - operating leases 11,871 — Total 3,562,276 3,577,508 Less: Accumulated depreciation (438,033 ) (416,657 ) Operating real estate, net 3,124,243 3,160,851 Real estate under development, at cost 193,315 120,297 Net investments in real estate $ 3,317,558 $ 3,281,148
Schedule of Business Acquisitions, by Acquisition	During the three months ended March 31, 2019 and the year ended December 31, 2018, the Company acquired the following consolidated retail properties (dollars in thousands): Property and Location Percent Acquired Date of Acquisition Purchase Price 2019 Acquisitions Core Soho Portfolio - 51 and 53 Greene Street (a) 100% Mar 15, 2019 Mar 27, 2019 $ 32,194 Total 2019 Acquisitions $ 32,194 2018 Acquisitions and Conversions Core Bedford Green Land Parcel - Bedford Hills, NY 100% Mar 23, 2018 $ 1,337 Subtotal Core 1,337 Fund IV Broughton Street Partners I - Savannah, GA (Conversion) ( Note 4 100% Oct 11, 2018 36,104 Subtotal Fund IV 36,104 Fund V Trussville Promenade - Trussville, AL 100% Feb 21, 2018 45,259 Elk Grove Commons - Elk Grove, CA 100% Jul 18, 2018 59,320 Hiram Pavilion - Hiram, GA 100% Oct 23, 2018 44,443 Subtotal Fund V 149,022 Total 2018 Acquisitions and Conversions $ 186,463
Schedule of Purchase Price Allocations	The following table summarizes the allocation of the purchase price of properties acquired during the three months ended March 31, 2019 and the year ended December 31, 2018 (in thousands): Three Months Ended March 31, 2019 Year Ended December 31, 2018 Net Assets Acquired Land $ 8,094 $ 38,086 Buildings and improvements 21,169 129,586 Acquisition-related intangible assets ( Note 6 ) 2,931 26,693 Acquisition-related intangible liabilities ( Note 6 ) — (7,902 ) Net assets acquired $ 32,194 $ 186,463 Consideration Cash $ 32,034 $ 147,985 Liabilities assumed 160 2,597 Existing interest in previously unconsolidated investment — 35,881 Total Consideration $ 32,194 $ 186,463
Schedule of Property Dispositions	During the three months ended March 31, 2019 and the year ended December 31, 2018, the Company disposed of the following consolidated properties (in thousands): Property and Location Owner Date Sold Sale Price Gain on Sale 2019 Dispositions 3104 M Street - Washington, DC ( Note 4 Fund III Jan 24, 2019 $ 10,500 $ 2,014 Total 2019 Dispositions $ 10,500 $ 2,014 2018 Dispositions Sherman Avenue - New York, NY Fund II Apr 17, 2018 $ 26,000 $ 33 Lake Montclair - Dumfries, VA Fund IV Aug 27, 2018 22,450 2,923 1861 Union Street - San Francisco, CA Fund IV Aug 29, 2018 6,000 2,184 210 Bowery - 4 Residential Condos - New York, NY Fund IV Nov 30, 2018, Dec 10, 2018, Dec 17, 2018, Dec 21, 2018 12,050 — Total 2018 Dispositions $ 66,500 $ 5,140
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures	The aggregate rental revenue, expenses and pre-tax income reported within continuing operations for the aforementioned consolidated properties that were sold during the three months ended March 31, 2019 and year ended December 31, 2018 were as follows (in thousands): Three Months Ended March 31, 2019 2018 Revenues $ 43 $ 815 Expenses (74 ) (876 ) Loss from continuing operations of disposed properties before gain on disposition of properties (31 ) (61 ) Gain on disposition of properties 2,014 — Net (income) loss attributable to noncontrolling interests (1,629 ) 77 Net income attributable to Acadia $ 354 $ 16
Schedule of Development in Process Activities	Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands): December 31, 2018 Three Months Ended 2019 March 31, 2019 Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core 1 $ 7,759 $ 57,342 $ 253 $ — 1 $ 65,354 Fund II — 7,462 — 738 — — 8,200 Fund III 1 21,242 12,313 642 — 1 34,197 Fund IV 1 83,834 — 1,730 — 1 85,564 Total 3 $ 120,297 $ 69,655 $ 3,363 $ — 3 $ 193,315

Notes Receivable, Net (Tables)

Notes Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Accounts And Notes Receivable Net [Abstract]
Schedule of Notes Receivable	The Company’s notes receivable, net were generally collateralized either by the underlying properties or the borrower’s ownership interest in the entities that own the properties, and were as follows (dollars in thousands): March 31, December 31, March 31, 2019 Description 2019 2018 Number Maturity Date Interest Rate Core Portfolio $ 56,475 $ 56,475 2 Apr 2019 - Apr 2020 6.0% - 8.1% Fund II 32,738 32,582 1 Dec 2020 1.75% Fund III 5,306 5,306 1 Jul 2020 18.0% Fund IV 15,250 15,250 1 Feb 2021 15.3% $ 109,769 $ 109,613 5

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Affiliates (Tables)	3 Months Ended
	Mar. 31, 2019
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): Nominal Ownership Interest March 31, December 31, Portfolio Property March 31, 2019 2019 2018 Core: 840 N. Michigan (a) 88.43% $ 64,561 $ 65,013 Renaissance Portfolio 20% 33,059 32,458 Gotham Plaza 49% 29,399 29,550 Town Center (a, b) 75.22% 99,106 99,758 Georgetown Portfolio 50% 4,761 4,653 230,886 231,432 Mervyns I & II: KLA/Mervyn's, LLC (c) 10.5% — — Fund III: Fund III Other Portfolio 90% 17 21 Self Storage Management (d) 95% 206 206 223 227 Fund IV: Broughton Street Portfolio (e) 50% 3,149 3,236 Fund IV Other Portfolio 90% 13,922 14,540 650 Bald Hill Road 90% 12,704 12,880 29,775 30,656 Fund V: Family Center at Riverdale 90% 48,610 — Various Funds: Due (to) from Related Parties (f) (701 ) (461 ) Other (g) 556 556 Investments in and advances to unconsolidated affiliates $ 309,349 $ 262,410 Core: Crossroads (h) 49% $ 15,415 $ 15,623 Distributions in excess of income from, and investments in, unconsolidated affiliates $ 15,415 $ 15,623 (a) Represents a tenancy-in-common interest. (b) During November 2017 and March 2018, as discussed below, the Company increased its ownership in Town Center. (c) Distributions, discussed below, have exceeded the Company’s non-recourse investment, therefore the carrying value is zero. (d) Represents a variable interest entity for which the Company was determined not to be the primary beneficiary. (e) The Company is entitled to a 15% return on its cumulative capital contribution which was $3.0 million at both March 31, 2019 and December 31, 2018. In addition, the Company is entitled to a 9% preferred return on a portion of its equity, which was $2.8 million at both March 31, 2019 and December 31, 2018. (f) Represents deferred fees. (g) Includes a cost-method investment in Albertson’s ( Note 8 (h) 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	The following combined and condensed Balance Sheets and Statements of Income, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates (in thousands): March 31, 2019 December 31, 2018 Combined and Condensed Balance Sheets Assets: Rental property, net $ 571,205 $ 488,000 Investment in unconsolidated affiliates 6,853 6,853 Other assets 68,921 91,497 Total assets $ 646,979 $ 586,350 Liabilities and partners’ equity: Mortgage notes payable $ 444,642 $ 408,967 Other liabilities 59,303 54,675 Partners’ equity 143,034 122,708 Total liabilities and partners’ equity $ 646,979 $ 586,350 Company's share of accumulated equity $ 189,463 $ 141,384 Basis differential 103,360 104,084 Deferred fees, net of portion related to the Company's interest 1,812 1,780 Amounts payable by the Company (701 ) (461 ) Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates 293,934 246,787 Company's share of distributions in excess of income from and investments in unconsolidated affiliates 15,415 15,623 Investments in and advances to unconsolidated affiliates $ 309,349 $ 262,410
Schedule of Condensed Income Statement	Three Months Ended March 31, 2019 2018 Combined and Condensed Statements of Income Total revenues $ 19,973 $ 20,156 Operating and other expenses (5,106 ) (5,921 ) Interest expense (4,776 ) (4,874 ) Depreciation and amortization (4,792 ) (6,055 ) Loss on disposition of properties — (418 ) Net income attributable to unconsolidated affiliates $ 5,299 $ 2,888 Company’s share of equity in net income of unconsolidated affiliates $ 2,995 $ 2,267 Basis differential amortization (724 ) (583 ) Company’s equity in earnings of unconsolidated affiliates $ 2,271 $ 1,684

Other Assets, Net and Account_2

Other Assets, Net and Accounts Payable and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
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: (in thousands) March 31, 2019 December 31, 2018 Other Assets, Net: Lease intangibles, net ( Note 6 ) $ 110,634 $ 115,939 Deferred charges, net (a) 28,874 28,619 Prepaid expenses 16,116 18,422 Other receivables 5,757 5,058 Accrued interest receivable 18,139 17,046 Deposits 6,588 4,611 Due from seller 4,000 4,000 Deferred tax assets 2,032 2,032 Derivative financial instruments ( Note 8 ) 3,528 7,018 Due from related parties 1,883 1,802 Corporate assets 1,837 1,953 Income taxes receivable 2,818 2,070 $ 202,206 $ 208,570 (a) Deferred Charges, Net: Deferred leasing and other costs $ 46,285 $ 45,011 Deferred financing costs related to line of credit 8,960 8,960 55,245 53,971 Accumulated amortization (26,371 ) (25,352 ) Deferred charges, net $ 28,874 $ 28,619 Accounts Payable and Other Liabilities: Lease intangibles, net ( Note 6 ) $ 86,819 $ 95,045 Capital lease obligations — 71,111 Lease liability - finance leases, net ( Note 11 76,993 — Lease liability - operating leases, net ( Note 11 12,435 — Accounts payable and accrued expenses 59,451 65,215 Deferred income 28,621 34,052 Tenant security deposits, escrow and other 11,185 10,588 Derivative financial instruments ( Note 8 ) 17,374 7,304 Income taxes payable — 19 Other 141 2,738 $ 293,019 $ 286,072

Lease Intangibles (Tables)

Lease Intangibles (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities Included in Other Assets and Other Liabilities	Intangible assets and liabilities are included in other assets and other liabilities ( Note 5 March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease intangible assets $ 220,293 $ (114,578 ) $ 105,715 $ 216,021 $ (105,972 ) $ 110,049 Above-market rent 17,754 (12,835 ) 4,919 18,169 (12,279 ) 5,890 $ 238,047 $ (127,413 ) $ 110,634 $ 234,190 $ (118,251 ) $ 115,939 Amortizable Intangible Liabilities Below-market rent $ (152,482 ) $ 66,226 $ (86,256 ) $ (152,188 ) $ 57,721 $ (94,467 ) Above-market ground lease (671 ) 108 (563 ) (671 ) 93 (578 ) $ (153,153 ) $ 66,334 $ (86,819 ) $ (152,859 ) $ 57,814 $ (95,045 )
Scheduled Amortization of Acquired Lease Intangible Assets and Assumed Liabilities	The scheduled amortization of acquired lease intangible assets and assumed liabilities as of March 31, 2019 is as follows (in thousands): Years Ending December 31, Net Increase in Lease Revenues Increase to Amortization Reduction of Rent Expense Net (Expense) Income 2019 (Remainder) $ 6,418 $ (20,111 ) $ 44 $ (13,649 ) 2020 8,217 (20,671 ) 58 (12,396 ) 2021 7,739 (15,351 ) 58 (7,554 ) 2022 7,380 (10,627 ) 58 (3,189 ) 2023 7,406 (8,481 ) 58 (1,017 ) Thereafter 44,177 (30,474 ) 287 13,990 Total $ 81,337 $ (105,715 ) $ 563 $ (23,815 )

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, December 31, Maturity Date at March 31, December 31, 2019 2018 March 31, 2019 2019 2018 Mortgages Payable Core Fixed Rate 3.88%-6.00% 3.88%-6.00% Feb 2024 - Apr 2035 $ 177,778 $ 178,271 Core Variable Rate - Swapped (a) 3.41%-5.67% 3.41%-5.67% Jan 2023 - Nov 2028 82,327 82,583 Total Core Mortgages Payable 260,105 260,854 Fund II Fixed Rate 1.00%-4.75% 1.00%-4.75% May 2020 - Aug 2042 205,262 205,262 Fund II Variable Rate LIBOR+1.39%-LIBOR+3.00% — March 2022 23,484 — Fund II Variable Rate - Swapped (a) 4.27% 4.27% Nov 2021 19,264 19,325 Total Fund II Mortgages Payable 248,010 224,587 Fund III Variable Rate LIBOR+2.65%-LIBOR+4.65% Prime+0.50%-LIBOR+4.65% Jun 2020 - Jul 2020 89,908 90,096 Fund IV Fixed Rate 3.40%-4.50% 3.40%-4.50% Oct 2025 - Jun 2026 8,188 8,189 Fund IV Variable Rate LIBOR+1.60%-LIBOR+3.95% LIBOR+1.60%-LIBOR+3.95% May 2019 - Aug 2021 231,884 233,065 Fund IV Variable Rate - Swapped (a) 3.67%-4.81% 3.67%-4.23% Mar 2020 - Dec 2022 73,848 71,841 Total Fund IV Mortgages Payable 313,920 313,095 Fund V Variable Rate LIBOR+2.15%-LIBOR+2.25% LIBOR+2.25% Oct 2020 - Jan 2021 51,506 51,506 Fund V Variable Rate - Swapped (a) 4.01%-4.78% 4.61%-4.78% Feb 2021 - Mar 2024 156,900 86,570 Total Fund V Mortgage Payable 208,406 138,076 Net unamortized debt issuance costs (11,917 ) (10,173 ) Unamortized premium 728 753 Total Mortgages Payable $ 1,109,160 $ 1,017,288 Unsecured Notes Payable Core Term Loans — LIBOR+1.25% Mar 2023 $ — $ 383 Core Variable Rate Unsecured Term Loans - Swapped (a) 2.49%-4.05% 2.54%-3.59% Mar 2023 350,000 349,617 Total Core Unsecured Notes Payable 350,000 350,000 Fund II Unsecured Notes Payable LIBOR+1.65% LIBOR+1.40% Sep 2020 40,000 40,000 Fund IV Term Loan/Subscription Facility LIBOR+1.65%-LIBOR+2.75% LIBOR+1.65%-LIBOR+2.75% Oct 2019 - Dec 2019 40,825 40,825 Fund V Subscription Facility LIBOR+1.60% LIBOR+1.60% May 2020 50,600 102,800 Net unamortized debt issuance costs (406 ) (368 ) Total Unsecured Notes Payable $ 481,019 $ 533,257 Unsecured Line of Credit Core Unsecured Line of Credit — — — $ — $ — Core Unsecured Line of Credit - Swapped (a) 4.15%-5.02% — Mar 2022 9,000 — Total Unsecured Line of Credit $ 9,000 $ — Total Debt - Fixed Rate (b)(c) $ 1,173,129 $ 1,001,658 Total Debt - Variable Rate (d) 437,645 558,675 Total Debt 1,610,774 1,560,333 Net unamortized debt issuance costs (12,323 ) (10,541 ) Unamortized premium 728 753 Total Indebtedness $ 1,599,179 $ 1,550,545 (a) At March 31, 2019, the stated rates ranged from LIBOR + 1.70% to LIBOR +1.90% for Core variable-rate debt; LIBOR + 1.39% for Fund II variable-rate debt; LIBOR + 2.65% to LIBOR + 4.65% for Fund III variable-rate debt; LIBOR + 1.60% to LIBOR +3.95% for Fund IV variable-rate debt; LIBOR + 2.15% to LIBOR + 2.25% for Fund V variable-rate debt; LIBOR + 1.25% for Core variable-rate unsecured term loans; and LIBOR + 1.35% for Core variable-rate unsecured lines of credit. (b) Includes $691.3 million and $609.9 million, respectively, of variable-rate debt that has been fixed with interest rate swap agreements as of the periods presented. (c) Fixed-rate debt at March 31, 2019 includes $90.5 million of swaps that are not designated to specific debt instruments. (d) Includes $167.3 million and $143.8 million, respectively, of variable-rate debt that is subject to interest cap agreements.
Scheduled Principal Repayments	The scheduled principal repayments of the Company’s consolidated indebtedness, as of March 31, 2019 are as follows (in thousands): Year Ending December 31, 2019 (Remainder) $ 217,523 2020 479,743 2021 174,345 2022 85,067 2023 412,305 Thereafter 241,791 1,610,774 Unamortized premium 728 Net unamortized debt issuance costs (12,323 ) Total indebtedness $ 1,599,179

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
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): March 31, 2019 December 31, 2018 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money Market Funds $ 1,000 $ — $ — $ 4,504 $ — $ — Derivative financial instruments — 3,528 — — 7,018 — Liabilities Derivative financial instruments — 17,374 — — 7,304 —
Schedule of Derivative Financial Instruments	The Company had the following interest rate swaps 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 March 31, 2019 December 31, 2018 Core Interest Rate Swaps $ 286,058 Dec 2012-July 2020 Mar 2022-July 2030 2.22 % — 3.77 % Other Liabilities (a) $ (15,104 ) $ (6,332 ) Interest Rate Swaps 245,827 Feb 2013 - Dec 2017 Nov 2019-June 2026 1.24 % — 3.77 % Other Assets 3,129 6,022 $ 531,885 $ (11,975 ) $ (310 ) Fund II Interest Rate Swap $ 19,264 Oct 2014 Nov 2021 2.88 % — 2.88 % Other Assets $ 16 $ 108 Interest Rate Cap 23,300 Mar 2019 Mar 2022 3.50 % — 3.50 % Other Assets 17 — $ 42,564 $ 33 $ 108 Fund III Interest Rate Cap $ 58,000 Dec 2016 Jan 2020 3.00 % — 3.00 % Other Assets $ — $ 8 Fund IV Interest Rate Swaps $ 71,602 Mar 2017 - Nov 2017 Mar 2020 - Dec 2022 1.82 % — 2.11 % Other Assets $ 366 $ 851 Interest Rate Swap 2,246 Jan 2019 Apr 2022 2.61 % — 2.61 % Other Liabilities (37 ) — Interest Rate Caps 108,900 July 2016 - Nov 2016 Aug 2019 - Dec 2019 3.00 % — 3.00 % Other Assets — 8 $ 182,748 $ 329 $ 859 Fund V Interest Rate Swap $ — $ — $ 21 Interest Rate Swaps 156,900 Jan 2018-Mar 2019 Feb 2021-Mar 2024 2.27 % — 2.88 % Other Liabilities (2,233 ) (972 ) $ 156,900 $ (2,233 ) $ (951 ) Total asset derivatives $ 3,528 $ 7,018 Total liability derivatives $ (17,374 ) $ (7,304 ) (a) Includes two swaps with a fair value of ($6.1) million and ($2.9) million at March 31, 2019 and December 31, 2018, respectively, which were acquired during July 2018 and are not effective until July 2020.
Financial statements of Income (Losses) Recognized Related to Cash Flow Hedges	The following table presents the location in the financial statements of the income (losses) recognized related to the Company’s cash flow hedges (in thousands): Three Months Ended March 31, 2019 2018 Amount of (loss) income recognized in other comprehensive income $ (13,306 ) $ 5,653 Amount of (income) loss subsequently reclassified to earnings (551 ) 363
Schedule of Other Financial Instruments Carrying Values and Fair values	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): March 31, 2019 December 31, 2018 Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Notes Receivable (a) 3 $ 109,769 $ 108,343 $ 109,613 $ 107,370 Mortgage and Other Notes Payable (a) 3 1,120,349 1,122,067 1,026,708 1,021,075 Investment in non-traded equity securities (b) 3 — 23,208 — 23,208 Unsecured notes payable and Unsecured line of credit (c) 2 490,425 490,819 533,625 533,954 (a) 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. (b) Represents Fund II’s cost-method investment in Albertson’s supermarkets ( Note 4 (c) 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.

Shareholders' Equity, Noncont_2

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Summary of Activity in Accumulated Other Comprehensive Income	The following table sets forth the activity in accumulated other comprehensive income for the three months ended March 31, 2019 and 2018 (in thousands): Gains or Losses on Derivative Instruments Balance at January 1, 2019 $ 516 Other comprehensive loss before reclassifications (13,306 ) Reclassification of realized interest on swap agreements (551 ) Net current period other comprehensive loss (13,857 ) Net current period other comprehensive loss attributable to noncontrolling interests 2,320 Balance at March 31, 2019 $ (11,021 ) Balance at January 1, 2018 $ 2,614 Other comprehensive income before reclassifications 5,653 Reclassification of realized interest on swap agreements 363 Net current period other comprehensive income 6,016 Net current period other comprehensive income attributable to noncontrolling interests (1,254 ) Balance at March 31, 2018 $ 7,376
Summary of Change in Noncontrolling Interest	The following table summarizes the change in the noncontrolling interests for the three months ended March 31, 2019 and 2018 (dollars in thousands): Noncontrolling Interests in Operating Partnership (a) Noncontrolling Interests in Partially-Owned Affiliates (b) Total Balance at January 1, 2019 $ 104,223 $ 518,219 $ 622,442 Distributions declared of $0.28 per Common OP Unit (1,781 ) — (1,781 ) Net income (loss) for the three months ended March 31, 2019 931 (10,192 ) (9,261 ) Conversion of 174,529 Common OP Units to Common Shares by limited partners of the Operating Partnership (2,953 ) — (2,953 ) Other comprehensive loss - unrealized loss on valuation of swap agreements (694 ) (1,605 ) (2,299 ) Reclassification of realized interest expense on swap agreements (22 ) 1 (21 ) Noncontrolling interest contributions — 32,191 32,191 Noncontrolling interest distributions — (3,237 ) (3,237 ) Employee Long-term Incentive Plan Unit Awards 3,360 — 3,360 Rebalancing adjustment (c) 1,980 — 1,980 Balance at March 31, 2019 $ 105,044 $ 535,377 $ 640,421 Balance at January 1, 2018 $ 102,921 $ 545,519 $ 648,440 Distributions declared of $0.27 per Common OP Unit (1,721 ) — (1,721 ) Net income (loss) for the three months ended March 31, 2018 612 (12,191 ) (11,579 ) Conversion of 36,126 Common OP Units to Common Shares by limited partners of the Operating Partnership (642 ) — (642 ) Other comprehensive income - unrealized gain on valuation of swap agreements 274 886 1,160 Reclassification of realized interest expense on swap agreements 10 84 94 Noncontrolling interest distributions — (695 ) (695 ) Employee Long-term Incentive Plan Unit Awards 3,716 — 3,716 Rebalancing adjustment (c) 1,225 — 1,225 Balance at March 31, 2018 $ 106,395 $ 533,603 $ 639,998 (a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,325,240 and 3,328,873 Common OP Units at March 31, 2019 and March 31, 2018; (ii) 188 Series A Preferred OP Units at March 31, 2019 and March 31, 2018; (iii) 136,593 Series C Preferred OP Units at March 31, 2019 and March 31, 2018; and (iv) 2,726,043 and 2,619,872 LTIP units at March 31, 2019 and March 31, 2018, respectively, as discussed in Share Incentive Plan (). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above. (b) Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and six other subsidiaries. (c) 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 (the “Rebalancing”).

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Lease Cost	Three Months Ended March 31, 2019 2018 Lease Cost (Not applicable) Finance lease cost: Amortization of right-of-use assets $ 496 Interest on lease liabilities 843 Subtotal 1,339 Operating lease cost 536 Variable lease cost 32 Total lease cost $ 1,907 Other Information Weighted-average remaining lease term - finance leases (years) 47.4 Weighted-average remaining lease term - operating leases (years) 8.4 Weighted-average discount rate - finance leases 4.4 % Weighted-average discount rate - operating leases 5.0 %
Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases	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 March 31, 2019, are summarized as follows (in thousands): Year Ending December 31, Minimum Rental Revenues Minimum Rental Payments 2019 (Remainder) $ 139,533 $ 3,590 2020 186,498 4,571 2021 167,505 4,354 2022 147,103 4,404 2023 128,675 4,425 Thereafter 562,214 180,618 Total $ 1,331,528 $ 201,962

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2019
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 Three Months Ended March 31, 2019 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 46,687 $ 28,113 $ — $ — $ 74,800 Depreciation and amortization (15,679 ) (14,654 ) — — (30,333 ) Property operating expenses, other operating and real estate taxes (11,996 ) (9,954 ) — — (21,950 ) General and administrative expenses — — — (8,323 ) (8,323 ) Operating income 19,012 3,505 — (8,323 ) 14,194 Gain on disposition of properties — 2,014 — — 2,014 Interest income — — 2,270 — 2,270 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 2,270 1 — — 2,271 Interest expense (6,693 ) (11,166 ) — — (17,859 ) Income tax benefit — — — 46 46 Net income (loss) 14,589 (5,646 ) 2,270 (8,277 ) 2,936 Net (income) loss attributable to noncontrolling interests (41 ) 9,302 — — 9,261 Net income attributable to Acadia $ 14,548 $ 3,656 $ 2,270 $ (8,277 ) $ 12,197 Real estate at cost $ 2,114,727 $ 1,640,864 $ — $ — $ 3,755,591 Total assets $ 2,244,349 $ 1,684,757 $ 109,769 $ — $ 4,038,875 Cash paid for acquisition of real estate $ 32,034 $ — $ — $ — $ 32,034 Cash paid for development and property improvement costs $ 4,033 $ 15,876 $ — $ — $ 19,909 As of or for the Three Months Ended March 31, 2018 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 41,628 $ 21,496 $ — $ — $ 63,124 Depreciation and amortization (15,498 ) (13,078 ) — — (28,576 ) Property operating expenses, other operating and real estate taxes (10,894 ) (8,483 ) — — (19,377 ) General and administrative expenses — — — (8,470 ) (8,470 ) Operating income (loss) 15,236 (65 ) — (8,470 ) 6,701 Interest income — — 3,737 — 3,737 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 1,426 258 — — 1,684 Interest expense (6,502 ) (9,388 ) — — (15,890 ) Income tax provision — — — (392 ) (392 ) Net income (loss) 10,160 (9,195 ) 3,737 (8,862 ) (4,160 ) Net (income) loss attributable to noncontrolling interests (73 ) 11,652 — — 11,579 Net income attributable to Acadia $ 10,087 $ 2,457 $ 3,737 $ (8,862 ) $ 7,419 Real estate at cost $ 2,042,280 $ 1,487,525 $ — $ — $ 3,529,805 Total assets $ 2,283,451 $ 1,546,566 $ 108,959 $ — $ 3,938,976 Cash paid for acquisition of real estate $ 1,337 $ 44,834 $ — $ — $ 46,171 Cash paid for development and property improvement costs $ 5,946 $ 12,190 $ — $ — $ 18,136

Share Incentive and Other Com_2

Share Incentive and Other Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2018 41,327 $ 26.92 910,099 $ 28.28 Granted 22,817 23.65 425,880 26.80 Vested (25,261 ) 30.79 (431,827 ) 29.72 Forfeited (428 ) 27.25 (12,266 ) 28.57 Unvested at December 31, 2018 38,455 22.44 891,886 26.87 Granted 8,041 30.83 330,718 33.09 Vested (7,288 ) 29.87 (275,447 ) 30.52 Forfeited — — (3,588 ) 27.55 Unvested at March 31, 2019 39,208 $ 22.78 943,569 $ 27.98

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended March 31, (dollars in thousands) 2019 2018 Numerator: Net income attributable to Acadia $ 12,197 $ 7,419 Less: net income attributable to participating securities (68 ) (44 ) Income from continuing operations net of income attributable to participating securities $ 12,129 $ 7,375 Denominator: Weighted average shares for basic earnings per share 82,032,852 83,434,083 Effect of dilutive securities: Employee unvested restricted shares 4,562 4,394 Denominator for diluted earnings per share 82,037,414 83,438,477 Basic and diluted earnings per Common Share from continuing operations attributable to Acadia $ 0.15 $ 0.09 Anti-Dilutive Shares Excluded from Denominator: Series A Preferred OP Units 188 188 Series A Preferred OP Units - Common share equivalent 25,067 25,067 Series C Preferred OP Units 136,593 136,593 Series C Preferred OP Units - Common share equivalent 474,278 474,278

Organization, Basis of Presen_4

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	Jan. 01, 2019USD ($)	Mar. 31, 2019USD ($)propertysegment	Dec. 31, 2018USD ($)
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Limited partnership to common stock conversion ratio		100.00%
Number of retail properties | property		174
Number of reportable segments | segment		3
Capitalized internal leasing costs			$ 1,800,000
Operating lease, right-of-use asset		$ 11,871,000
Operating lease, liability		12,800,000
Finance lease, right-of-use asset		82,629,000
Finance lease, liability		76,993,000
Accounting Standards Update 2016-02
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Leases, future payment obligations			$ 203,100
Operating lease, right-of-use asset		11,900,000
Finance lease, right-of-use asset		5,700,000
Finance lease, liability		5,700,000
Present value of lease purchase options	$ 4,700,000
Capital Lease Liability
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Finance lease, liability		71,100,000
Capital Leases Asset
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Finance lease, right-of-use asset		$ 77,000,000
Core Portfolio
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of retail properties | property		121
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]
Equity interest held by Operating Partnership		94.00%	94.00%
Remaining funds rate of distribution to operating partnership (in percent)		20.00%
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 Presen_5

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Operating Partnership's Equity Interest (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2018	Mar. 31, 2019
Fund II and Mervyns II
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital		28.33%
Capital Called		$ 347.1
Unfunded Commitment		$ 0
Equity interest held by Operating Partnership		28.33%
Preferred Return		8.00%
Total Distributions		$ 146.6
Fund III
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital		24.54%
Capital Called		$ 426.3
Unfunded Commitment		$ 23.7
Equity interest held by Operating Partnership		24.54%
Preferred Return		6.00%
Total Distributions		$ 554.8
Fund IV
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital		23.12%
Capital Called		$ 425.4
Unfunded Commitment		$ 104.6
Equity interest held by Operating Partnership		23.12%
Preferred Return		6.00%
Total Distributions		$ 147.4
Fund V
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital		20.10%
Capital Called		$ 118.3
Unfunded Commitment		$ 401.7
Equity interest held by Operating Partnership		20.10%
Preferred Return		6.00%
Total Distributions		$ 0
Fund II
Variable Interest Entity [Line Items]
Total Distributions	$ 15
Operating Partnership, as General Partner or Managing Member
Variable Interest Entity [Line Items]
Total Distributions	$ 4.3

Real Estate - Schedule of Real

Real Estate - Schedule of Real Estate (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Land	$ 705,402	$ 710,469
Buildings and improvements	2,574,459	2,594,828
Tenant improvements	157,502	151,154
Construction in progress	30,413	44,092
Properties under capital lease		76,965
Finance lease, right-of-use asset	82,629
Operating lease, right-of-use asset	11,871
Total	3,562,276	3,577,508
Less: Accumulated depreciation	(438,033)	(416,657)
Operating real estate, net	3,124,243	3,160,851
Real estate under development, at cost	193,315	120,297
Net investments in real estate	$ 3,317,558	$ 3,281,148

Real Estate - Schedule of Acqui

Real Estate - Schedule of Acquisitions and Conversions (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Purchase Price	$ 32,194	$ 186,463
Core Portfolio
Business Acquisition [Line Items]
Purchase Price		$ 1,337
Core Portfolio | Soho Portfolio | 51 and 53 Greene Street
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 32,194
Core Portfolio | Bedford Green Land Parcel | Bedford Hills N Y
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 1,337
Fund V
Business Acquisition [Line Items]
Purchase Price		$ 149,022
Fund V | Trussville Promenade - Trussville, AL | Trussville, AL
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 45,259
Fund V | Elk Grove Commons - Elk Grove, CA | Elk Grove, CA
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 59,320
Fund V | Hiram Pavilion | Hiram G A
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 44,443
Fund IV
Business Acquisition [Line Items]
Purchase Price		$ 36,104
Fund IV | Broughton Street Partners I | Savannah G A
Business Acquisition [Line Items]
Percent Acquired		100.00%
Purchase Price		$ 36,104

Real Estate - Acquisitions and

Real Estate - Acquisitions and Conversions - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Capitalized acquisition costs	$ 400,000	$ 100,000
Debt assumed	$ 0	$ 0

Real Estate - Schedule of Purch

Real Estate - Schedule of Purchase Price Allocations (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Purchase Price Allocation
Land	$ 8,094	$ 38,086
Buildings and improvements	21,169	129,586
Acquisition-related intangible assets (Note 6)	2,931	26,693
Acquisition-related intangible liabilities (Note 6)	0	(7,902)
Net assets acquired	32,194	186,463
Consideration
Cash	32,034	147,985
Liabilities assumed	160	2,597
Existing interest in previously unconsolidated investment	0	35,881
Total Consideration	$ 32,194	$ 186,463

Real Estate - Schedule of Prope

Real Estate - Schedule of Property Dispositions (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of properties, net of tax	$ 2,014
Disposal Group, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price	10,500	$ 66,500
Gain on disposition of properties, net of tax	$ 2,014	$ 5,140
Fund III | Disposal Group, Not Discontinued Operations | A3104 M St. Washington D C
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 on disposition of properties, net of tax	$ 2,014
Fund II | Disposal Group, Not Discontinued Operations | Sherman Avenue
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold		Apr. 17, 2018
Sale Price		$ 26,000
Gain on disposition of properties, net of tax		$ 33
Fund IV | Disposal Group, Not Discontinued Operations | Lake Montclair
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold		Aug. 27, 2018
Sale Price		$ 22,450
Gain on disposition of properties, net of tax		$ 2,923
Fund IV | Disposal Group, Not Discontinued Operations | 1861 Union Street
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold		Aug. 29, 2018
Sale Price		$ 6,000
Gain on disposition of properties, net of tax		$ 2,184
Fund IV | Disposal Group, Not Discontinued Operations | Bowery4 Residential Condos New York N Y | Scenario One
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold		Nov. 30, 2018
Fund IV | Disposal Group, Not Discontinued Operations | Bowery4 Residential Condos New York N Y | Scenario Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold		Dec. 10, 2018
Fund IV | Disposal Group, Not Discontinued Operations | Bowery4 Residential Condos New York N Y | Scenario Three
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold		Dec. 17, 2018
Fund IV | Disposal Group, Not Discontinued Operations | Bowery4 Residential Condos New York N Y | Scenario Four
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold		Dec. 21, 2018
Sale Price		$ 12,050

Real Estate - Schedule of Dispo

Real Estate - Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
STATEMENTS OF INCOME
Gain on disposition of properties	$ 2,014
Disposal Group, Not Discontinued Operations
STATEMENTS OF INCOME
Revenues	43	$ 815
Expenses	(74)	(876)
Loss from continuing operations of disposed properties before gain on disposition of properties	(31)	(61)
Gain on disposition of properties	2,014		$ 5,140
Net (income) loss attributable to noncontrolling interests	(1,629)	77
Net income attributable to Acadia	$ 354	$ 16

Real Estate - Schedule of Devel

Real Estate - Schedule of Development in Process Activities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Property, Plant and Equipment [Line Items]
Number of properties under development | property	3	3
Real estate under development	$ 193,315	$ 120,297
Transfers In	69,655
Capitalized Costs	3,363
Transfers Out	$ 0
Core Portfolio
Property, Plant and Equipment [Line Items]
Number of properties under development | property	1	1
Real estate under development	$ 65,354	$ 7,759
Transfers In	57,342
Capitalized Costs	253
Transfers Out	$ 0
Fund Portfolio | Fund II
Property, Plant and Equipment [Line Items]
Number of properties under development | property	0	0
Real estate under development	$ 8,200	$ 7,462
Transfers In	0
Capitalized Costs	738
Transfers Out	$ 0
Fund Portfolio | Fund III
Property, Plant and Equipment [Line Items]
Number of properties under development | property	1	1
Real estate under development	$ 34,197	$ 21,242
Transfers In	12,313
Capitalized Costs	642
Transfers Out	$ 0
Fund Portfolio | Fund IV
Property, Plant and Equipment [Line Items]
Number of properties under development | property	1	1
Real estate under development	$ 85,564	$ 83,834
Transfers In	0
Capitalized Costs	1,730
Transfers Out	$ 0

Real Estate - Real Estate Under

Real Estate - Real Estate Under Development and Construction in Progress - Additional Information (Details) - property	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Number of unconsolidated project in development			1
Fund III
Property, Plant and Equipment [Line Items]
Number of projects put into service during period	1
Core Portfolio
Property, Plant and Equipment [Line Items]
Number of projects put into service during period	1	1

Notes Receivable, Net - Schedul

Notes Receivable, Net - Schedule of Notes Receivable (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)debtinstrument	Dec. 31, 2018USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net carrying amount of notes receivable | $	$ 109,769	$ 109,613
Number of instruments held | debtinstrument	5
Core Portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net carrying amount of notes receivable | $	$ 56,475	56,475
Number of instruments held | debtinstrument	2
Core Portfolio | Minimum
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Maturity Date	2019-04
Effective interest rate	6.00%
Core Portfolio | Maximum
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Maturity Date	2020-04
Effective interest rate	8.10%
Fund Portfolio | Fund II
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net carrying amount of notes receivable | $	$ 32,738	32,582
Number of instruments held | debtinstrument	1
Maturity Date	2020-12
Effective interest rate	1.75%
Fund Portfolio | Fund III
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net carrying amount of notes receivable | $	$ 5,306	5,306
Number of instruments held | debtinstrument	1
Maturity Date	2020-07
Effective interest rate	18.00%
Fund Portfolio | Fund IV
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net carrying amount of notes receivable | $	$ 15,250	$ 15,250
Number of instruments held | debtinstrument	1
Maturity Date	2021-02
Effective interest rate	15.30%

Notes Receivable, Net - Additio

Notes Receivable, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Proceeds from notes receivable		$ 26,000
Additional advance	$ 101,655	$ 47,273
Core Portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Note receivable accrued interest			$ 200
Proceeds from notes receivable			26,000
Core Portfolio | Note Receivable Due April 1, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Proceeds from notes receivable			15,000
Additional advance			2,800
Town Center | Core Portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Note receivable accrued interest			300
Note receivable exchanged			22,000
Fund II
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Note receivable accrued interest	$ 200		800
Fund III
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Additional advance			$ 200

Investments in and Advances t_3

Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 28, 2018	Dec. 31, 2017	Nov. 16, 2017
Schedule of Equity Method Investments [Line Items]
Due from related parties	$ (701)	$ (461)
Other	556	556
Investments in and advances to unconsolidated affiliates	309,349	262,410
Distributions in excess of income from, and investments in, unconsolidated affiliates	$ 15,415	15,623
KLA Mervyns LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	10.50%
Equity method investments	$ 0	0
Fund III Other Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 17	21
Self Storage Management
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	95.00%
Equity method investments	$ 206	206
Fund III
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 223	227
Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments	$ 3,149	3,236
Fund IV Other Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 13,922	14,540
650 Bald Hill Road
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 12,704	12,880
Fund IV
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 29,775	30,656
Fund V Family Center at Riverdale
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 48,610	0
Core Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 230,886	231,432
Core Portfolio | 840 N. Michigan
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	88.43%
Equity method investments	$ 64,561	65,013
Core Portfolio | Renaissance Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20.00%
Equity method investments	$ 33,059	32,458
Core Portfolio | Gotham Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Equity method investments	$ 29,399	29,550
Core Portfolio | Town Center
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	75.22%			61.11%	22.22%
Equity method investments	$ 99,106	99,758	$ 22,300		$ 61,600
Core Portfolio | Georgetown Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments	$ 4,761	4,653
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	$ 15,415	$ 15,623

Investments in and Advances t_4

Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
KLA Mervyns LLC
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 0	$ 0
Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 3,149	3,236
Cumulative capital contribution, percentage	15.00%
Cumulative capital contribution	$ 3,000	3,000
Preferred return percentage	9.00%
Preferred return	$ 2,800	$ 2,800

Investments in and Advances t_5

Investments in and Advances to Unconsolidated Affiliates - Core Portfolio - Additional Information (Details) $ in Thousands	Jan. 24, 2019USD ($)ft²	Mar. 28, 2018USD ($)	Nov. 16, 2017USD ($)	May 01, 2017USD ($)	Apr. 29, 2016USD ($)	Mar. 31, 2019USD ($)ft²	Dec. 31, 2018USD ($)	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Purchase Price						$ 32,194	$ 186,463
Notes receivable, net						109,769	109,613
Brandywine Portfolio
Schedule of Equity Method Investments [Line Items]
Preferred return						5,600
Core Portfolio
Schedule of Equity Method Investments [Line Items]
Purchase Price							1,337
Notes receivable, net						56,475	56,475
Note receivable accrued interest							200
Equity method investments						$ 230,886	231,432
Core Portfolio | Renaissance Portfolio
Schedule of Equity Method Investments [Line Items]
Percentage of voting interests acquired	20.00%
Equity method investment, ownership percentage						20.00%
Equity method investments						$ 33,059	32,458
Core Portfolio | Brandywine Portfolio
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property (in square feet) | ft²						1,000,000
Repayments of debt					$ 140,000
Note receivable exchanged		$ 22,000		$ 16,000
Notes receivable, net				153,400		$ 38,700
Note receivable accrued interest		$ 300		$ 300
Core Portfolio | Brandywine Portfolio | Exchange Transaction One
Schedule of Equity Method Investments [Line Items]
Note receivable exchanged			$ 16,000
Note receivable accrued interest			600
Core Portfolio | Brandywine Portfolio | Exchange Transaction Two
Schedule of Equity Method Investments [Line Items]
Note receivable exchanged			60,700
Note receivable accrued interest			$ 900
Core Portfolio | Market Square
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage by third party			38.89%	38.89%
Equity method investment, ownership percentage			22.22%	61.11%
Equity method investments				$ 16,300
Gain on equity method investment				$ 9,800
Core Portfolio | Town Center
Schedule of Equity Method Investments [Line Items]
Note receivable exchanged							22,000
Note receivable accrued interest							300
Equity method investment, ownership percentage by third party		14.11%	38.89%			24.78%
Equity method investment, ownership percentage			22.22%			75.22%		61.11%
Equity method investments		$ 22,300	$ 61,600			$ 99,106	$ 99,758
Gain on equity method investment		$ 12,700	$ 34,500
Core Portfolio | Washington, D.C. | Renaissance Portfolio
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property (in square feet) | ft²	7,300
Purchase Price	$ 10,700
Purchase price less the assumption of the outstanding mortgage	$ 4,700

Investments in and Advances t_6

Investments in and Advances to Unconsolidated Affiliates - Fund Investments - Additional Information (Details)	Aug. 29, 2018USD ($)property	Jun. 29, 2018USD ($)property	May 15, 2018USD ($)	Jan. 18, 2018USD ($)property	Mar. 31, 2019USD ($)property
Schedule of Equity Method Investments [Line Items]
Number of retail properties | property					174
Proceeds from the disposition of properties, net					$ 9,779,000
Fund III's Storage Post venture
Schedule of Equity Method Investments [Line Items]
Distribution from cost method investment			$ 3,200,000
Cost method investments			0
Fund III's Storage Post venture | Partnership Interest
Schedule of Equity Method Investments [Line Items]
Distribution from cost method investment			$ 800,000
Fund IV | Disposed of by sale | Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Number of retail properties | property	1			2
Proceeds from the disposition of properties, net	$ 2,100,000			$ 8,000,000
Gain (loss) on disposal	(300,000)			(400,000)
Fund IV | Partnership Interest | Disposed of by sale | Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Gain (loss) on disposal				$ 0
Fund IV | Partnership Interest | Disposed of by sale | Broughton St. Portfolio Savannah, GA | Maximum
Schedule of Equity Method Investments [Line Items]
Gain (loss) on disposal	$ (100,000)
Fund IV's Broughton Street Portfolio venture
Schedule of Equity Method Investments [Line Items]
Number of retail properties | property		2
Losses on cost method investments		$ 1,000,000
Fund IV's Broughton Street Portfolio venture | Partnership Interest | Maximum
Schedule of Equity Method Investments [Line Items]
Losses on cost method investments		$ 100,000

Investments in and Advances t_7

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Additional Information (Details) - Equity Method Investee - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Equity Method Investments [Line Items]
Related party revenue	$ 0.2	$ 0.3
Expenses, related party	$ 0.3	$ 0.5

Investments in and Advances t_8

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Combined and Condensed Balance Sheets
Other assets	$ 202,206	$ 208,570
Total assets	4,038,875	3,958,780	$ 3,938,976
Total liabilities and equity	4,038,875	3,958,780
Company's share of distributions in excess of income from and investments in unconsolidated affiliates	15,415	15,623
Investments in and advances to unconsolidated affiliates	309,349	262,410
Unconsolidated Affiliates
Combined and Condensed Balance Sheets
Rental property, net	571,205	488,000
Investment in unconsolidated affiliates	6,853	6,853
Other assets	68,921	91,497
Total assets	646,979	586,350
Mortgage notes payable	444,642	408,967
Other liabilities	59,303	54,675
Partners’ equity	143,034	122,708
Total liabilities and equity	646,979	586,350
Company's share of accumulated equity	189,463	141,384
Basis differential	103,360	104,084
Deferred fees, net of portion related to the Company's interest	1,812	1,780
Amounts payable by the Company	(701)	(461)
Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates	293,934	246,787
Company's share of distributions in excess of income from and investments in unconsolidated affiliates	15,415	15,623
Investments in and advances to unconsolidated affiliates	$ 309,349	$ 262,410

Investments in and Advances t_9

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Combined and Condensed Statements of Income
Revenues	$ 74,800	$ 63,124
Operating and other expenses	(60,606)	(56,423)
Depreciation and amortization	(30,333)	(28,576)
Income (loss) from continuing operations before gain on disposition of properties	922	(4,160)
Company’s equity in earnings of unconsolidated affiliates	2,271	1,684
Unconsolidated Affiliates
Combined and Condensed Statements of Income
Revenues	19,973	20,156
Operating and other expenses	(5,106)	(5,921)
Interest expense	(4,776)	(4,874)
Depreciation and amortization	(4,792)	(6,055)
Loss on disposition of properties		(418)
Income (loss) from continuing operations before gain on disposition of properties	5,299	2,888
Operating Partnership, as General Partner or Managing Member
Combined and Condensed Statements of Income
Company’s share of equity in net income of unconsolidated affiliates	2,995	2,267
Basis differential amortization	(724)	(583)
Company’s equity in earnings of unconsolidated affiliates	$ 2,271	$ 1,684

Other Assets, Net and Account_3

Other Assets, Net and Accounts Payable and Other Liabilities - Schedule of other assets and other liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Other Assets, Net:
Lease intangibles, net (Note 6)	$ 110,634	$ 115,939
Deferred charges, net	28,874	28,619
Prepaid expenses	16,116	18,422
Other receivables	5,757	5,058
Accrued interest receivable	18,139	17,046
Deposits	6,588	4,611
Due from seller	4,000	4,000
Deferred tax assets	2,032	2,032
Derivative financial instruments (Note 8)	3,528	7,018
Due from related parties	1,883	1,802
Corporate assets	1,837	1,953
Income taxes receivable	2,818	2,070
Other assets, net	202,206	208,570
Deferred Charges, Net:
Deferred leasing and other costs	46,285	45,011
Deferred financing costs related to line of credit	8,960	8,960
Deferred costs, gross	55,245	53,971
Accumulated amortization	(26,371)	(25,352)
Deferred charges, net	28,874	28,619
Accounts Payable and Other Liabilities:
Lease intangibles, net (Note 6)	86,819	95,045
Capital lease obligations		71,111
Finance lease, liability	76,993
Lease liability - operating leases, net (Note 11)	12,435
Accounts payable and accrued expenses	59,451	65,215
Deferred income	28,621	34,052
Tenant security deposits, escrow and other	11,185	10,588
Derivative financial instruments (Note 8)	17,374	7,304
Income taxes payable		19
Other	141	2,738
Accounts payable and other liabilities	$ 293,019	$ 286,072

Lease Intangibles - Schedule of

Lease Intangibles - Schedule of Intangible Assets and Liabilities Included in Other Assets and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	$ 238,047	$ 234,190
Amortizable Intangible Assets, Accumulated Amortization	(127,413)	(118,251)
Amortizable Intangible Assets, Net Carrying Amount	110,634	115,939
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Gross Carrying Amount	(152,482)	(152,188)
Amortizable Intangible Liabilities, Accumulated Amortization	66,226	57,721
Amortizable Intangible Liabilities, Net Carrying Amount	(86,256)	(94,467)
Above-market Ground Lease, Gross	(671)	(671)
Above-market Ground Lease, Accumulated Amortization	108	93
Above-market Ground Lease, Net	(563)	(578)
Finite-Lived Intangible Liabilities, Gross	(153,153)	(152,859)
Finite-Lived Intangible Liabilities, Accumulated Amortization	66,334	57,814
Finite-Lived Intangible Liabilities, Net	(86,819)	(95,045)
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	220,293	216,021
Amortizable Intangible Assets, Accumulated Amortization	(114,578)	(105,972)
Amortizable Intangible Assets, Net Carrying Amount	105,715	110,049
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Net Carrying Amount	(81,337)
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	17,754	18,169
Amortizable Intangible Assets, Accumulated Amortization	(12,835)	(12,279)
Amortizable Intangible Assets, Net Carrying Amount	$ 4,919	$ 5,890

Lease Intangibles - Additional

Lease Intangibles - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Below market rents, acquired		$ 7.9
Below market rents acquired, weighted average useful life		20 years 6 months
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 2.9	$ 24.2
Acquired intangible assets, weighted average useful life	8 years 1 month 6 days	5 years 2 months 12 days
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired		$ 2.5
Acquired intangible assets, weighted average useful life		5 years 1 month 6 days

Lease Intangibles - Scheduled A

Lease Intangibles - Scheduled Amortization of Acquired Lease Intangible Assets and Assumed Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Acquired Lease Intangibles [Abstract]
Net Increase In Lease Revenues, Total	$ 86,256	$ 94,467
Amortizable Intangible Assets, Net Carrying Amount	(110,634)	(115,939)
In-place lease intangible assets
Acquired Lease Intangibles [Abstract]
2019 (Remainder), Net Increase In Lease Revenues	6,418
2020, Net Increase In Lease Revenues	8,217
2021, Net Increase In Lease Revenues	7,739
2022, Net Increase In Lease Revenues	7,380
2023, Net Increase In Lease Revenues	7,406
Thereafter, Net Increase In Lease Revenues	44,177
Net Increase In Lease Revenues, Total	81,337
2019 (Remainder), Increase to Amortization	(20,111)
2020, Increase to Amortization	(20,671)
2021, Increase to Amortization	(15,351)
2022, Increase to Amortization	(10,627)
2023, Increase to Amortization	(8,481)
Thereafter, Increase to Amortization	(30,474)
Amortizable Intangible Assets, Net Carrying Amount	(105,715)	$ (110,049)
2019 (Remainder), Reduction of Rent Expense	44
2020, Reduction of Rent Expense	58
2021, Reduction of Rent Expense	58
2022, Reduction of Rent Expense	58
2023, Reduction of Rent Expense	58
Thereafter, Reduction of Rent Expense	287
Reduction of Rent Expense, Total	563
2019 (Remainder), Net Income (Expense)	(13,649)
2020, Net Income (Expense)	(12,396)
2021, Net Income (Expense)	(7,554)
2022, Net Income (Expense)	(3,189)
2023, Net Income (Expense)	(1,017)
Thereafter, Net Income (Expense)	13,990
Total, Net Income (Expense)	$ (23,815)

Debt - Summary of Consolidated

Debt - Summary of Consolidated Indebtedness (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,610,774	$ 1,560,333
Net unamortized debt issuance costs	(12,323)	(10,541)
Unamortized fair market value of assumed debt	728	753
Mortgage and other notes payable, net	1,109,160	1,017,288
Unsecured notes payable, net	481,019	533,257
Unsecured line of credit	9,000
Total Indebtedness	1,599,179	1,550,545
Mortgages
Debt Instrument [Line Items]
Net unamortized debt issuance costs	(11,917)	(10,173)
Unamortized fair market value of assumed debt	728	753
Mortgage and other notes payable, net	1,109,160	1,017,288
Unsecured Debt
Debt Instrument [Line Items]
Net unamortized debt issuance costs	(406)	(368)
Unsecured notes payable, net	481,019	533,257
Line of Credit
Debt Instrument [Line Items]
Unsecured line of credit	$ 9,000
Core Portfolio | Minimum
Debt Instrument [Line Items]
Maturity Date	2019-04
Core Portfolio | Maximum
Debt Instrument [Line Items]
Maturity Date	2020-04
Core Portfolio | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.70%
Core Portfolio | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Core Portfolio | Unsecured Line of Credit | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.35%
Core Portfolio | Unsecured Notes Payable | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Core Portfolio | Mortgages
Debt Instrument [Line Items]
Long-term debt, gross	$ 260,105	260,854
Core Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 177,778	$ 178,271
Core Portfolio | Mortgages | Fixed Rate | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.88%	3.88%
Maturity Date	2024-02
Core Portfolio | Mortgages | Fixed Rate | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	6.00%	6.00%
Maturity Date	2035-04
Core Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Long-term debt, gross	$ 82,327	$ 82,583
Core Portfolio | Mortgages | Variable Rate - Swapped | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.41%	3.41%
Maturity Date	2023-01
Core Portfolio | Mortgages | Variable Rate - Swapped | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.67%	5.67%
Maturity Date	2026-06
Core Portfolio | Unsecured Debt
Debt Instrument [Line Items]
Long-term debt, gross		$ 383
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans - Swapped
Debt Instrument [Line Items]
Interest rate, stated percentage		1.25%
Maturity Date	2023-03
Long-term debt, gross	$ 350,000	$ 349,617
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans - Swapped | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	2.49%	2.54%
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans - Swapped | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	4.05%	3.59%
Core Portfolio | Line of Credit | Unsecured Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 0
Core Portfolio | Line of Credit | Unsecured Line of Credit | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.35%	1.40%
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped
Debt Instrument [Line Items]
Maturity Date	2022-03
Long-term debt, gross	$ 9,000
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped | LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	4.15%
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped | LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.02%
Fund Portfolio | Mortgages | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.64%
Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,173,129	$ 1,001,658
Variable Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 437,645	558,675
Fund II | Fund Portfolio
Debt Instrument [Line Items]
Maturity Date	2020-12
Long-term debt, gross	$ 23,484
Fund II | Fund Portfolio | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.39%
Fund II | Fund Portfolio | Mortgages
Debt Instrument [Line Items]
Maturity Date	2022-03
Long-term debt, gross	$ 248,010	224,587
Fund II | Fund Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 205,262	$ 205,262
Fund II | Fund Portfolio | Mortgages | Fixed Rate | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	1.00%	1.00%
Maturity Date	2020-05
Fund II | Fund Portfolio | Mortgages | Fixed Rate | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	4.75%	4.75%
Maturity Date	2042-08
Fund II | Fund Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Interest rate, stated percentage	4.27%	4.27%
Maturity Date	2021-11
Long-term debt, gross	$ 19,264	$ 19,325
Fund II | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.39%
Fund II | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Fund II | Fund Portfolio | Unsecured Debt | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%	1.40%
Fund II | Fund Portfolio | Unsecured Debt | Unsecured Notes Payable
Debt Instrument [Line Items]
Long-term debt, gross	$ 40,000	$ 40,000
Fund II | Fund Portfolio | Unsecured Debt | Unsecured Notes Payable | LIBOR
Debt Instrument [Line Items]
Maturity Date	2020-09
Fund III | Fund Portfolio
Debt Instrument [Line Items]
Maturity Date	2020-07
Fund III | Fund Portfolio | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.65%
Fund III | Fund Portfolio | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.65%
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 89,908	$ 90,096
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.65%
Maturity Date	2020-06
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.65%	4.65%
Maturity Date	2021-12
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt | Prime Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Fund IV | Fund Portfolio
Debt Instrument [Line Items]
Maturity Date	2021-02
Fund IV | Fund Portfolio | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%
Fund IV | Fund Portfolio | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.95%
Fund IV | Fund Portfolio | Mortgages
Debt Instrument [Line Items]
Long-term debt, gross	$ 313,920	$ 313,095
Fund IV | Fund Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 8,188	$ 8,189
Fund IV | Fund Portfolio | Mortgages | Fixed Rate | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.40%	3.40%
Maturity Date	2025-10
Fund IV | Fund Portfolio | Mortgages | Fixed Rate | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	4.50%	4.50%
Maturity Date	2026-06
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Long-term debt, gross	$ 73,848	$ 71,841
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | Minimum
Debt Instrument [Line Items]
Maturity Date	2019-05
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | Maximum
Debt Instrument [Line Items]
Maturity Date	2022-12
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	3.67%	3.67%
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.81%	4.23%
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 231,884	$ 233,065
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%	1.70%
Maturity Date	2018-08
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.95%	3.95%
Maturity Date	2021-08
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 40,825	$ 40,825
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%	1.65%
Maturity Date	2018-12
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%	2.75%
Maturity Date	2019-10
Fund V | Fund Portfolio | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%
Fund V | Fund Portfolio | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Fund V | Fund Portfolio | Mortgages
Debt Instrument [Line Items]
Long-term debt, gross	$ 208,406	$ 138,076
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Long-term debt, gross	$ 156,900	$ 86,570
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped | Minimum
Debt Instrument [Line Items]
Maturity Date	2021-02
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped | Maximum
Debt Instrument [Line Items]
Maturity Date	2021-06
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	4.01%	4.61%
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.78%	4.78%
Fund V | Fund Portfolio | Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 51,506	$ 51,506
Fund V | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Fund V | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%
Maturity Date	2020-10
Fund V | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Maturity Date	2021-01
Fund V | Fund Portfolio | Unsecured Debt | Subscription Line
Debt Instrument [Line Items]
Long-term debt, gross	$ 50,600	$ 102,800
Fund V | Fund Portfolio | Unsecured Debt | Subscription Line | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%	1.60%
Maturity Date	2020-05

Debt - Summary of Consolidate_2

Debt - Summary of Consolidated Indebtedness (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,610,774	$ 1,560,333
Variable-rate debt that subject to interest cap agreements
Debt Instrument [Line Items]
Long-term debt, gross	167,300	143,800
Interest Rate Swaps | Not Designated
Debt Instrument [Line Items]
Long-term debt, gross	90,500
Total Debt - Variable Rate Debt Fixed with Interest Rate Swap Agreements
Debt Instrument [Line Items]
Long-term debt, gross	$ 691,300	$ 609,900
Minimum | Core Portfolio | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.70%
Minimum | Core Portfolio | Unsecured Notes Payable | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Minimum | Core Portfolio | Unsecured Line of Credit | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.35%
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	$ 23,484
Fund II | Fund Portfolio | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.39%
Fund III | Minimum | Fund Portfolio | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.65%
Fund III | Maximum | Fund Portfolio | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	4.65%
Fund IV | Minimum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%
Fund IV | Maximum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.95%
Fund V | Minimum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%
Fund V | Maximum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%

Debt - Credit Facility - Additi

Debt - Credit Facility - Additional Information (Details) - USD ($)	Feb. 20, 2018	Mar. 31, 2019
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000
Unsecured Debt
Debt Instrument [Line Items]
Maturity date	Mar. 31, 2023
Unsecured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150,000,000
Basis spread on variable rate	1.35%
Maturity date	Mar. 31, 2022
Unsecured Debt | Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000
Unsecured Debt | $300 Million Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000
Basis spread on variable rate	1.25%
Unsecured Debt | $150 Million Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150,000,000
Other Secured Financings
Debt Instrument [Line Items]
Maximum borrowing capacity	40,400,000
Core Portfolio | Unsecured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	150,000,000	$ 150,000,000
Core Portfolio | Unsecured Debt | $150 Million Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150,000,000

Debt - Mortgage Payable - Addit

Debt - Mortgage Payable - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019USD ($)propertyloanderivative	Dec. 31, 2018USD ($)property
Debt Instrument [Line Items]
Unsecured line of credit	$ 9,000,000
Mortgages
Debt Instrument [Line Items]
Number of properties collateralized | property	45	43
Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, notional amount	$ 100,000,000
Derivative fixed interest rate	2.60%
Interest Rate Swaps | Mortgages
Debt Instrument [Line Items]
Number of interest rate derivatives held | derivative	3
Derivative, notional amount	$ 72,600,000
Derivative fixed interest rate	2.42%
Fund Portfolio | Mortgages
Debt Instrument [Line Items]
Number of mortgage loans | loan	4
Borrowings, amount	$ 118,300,000
Fund III | Mortgages
Debt Instrument [Line Items]
Number of notes repaid | loan	1
Repayments of debt	$ 4,700,000
Scheduled principal payment	1,600,000
Fund III | Construction Loans
Debt Instrument [Line Items]
Unsecured line of credit	4,500,000
Core Portfolio
Debt Instrument [Line Items]
Derivative, notional amount	531,885,000
Core Portfolio | Mortgages | Brandywine Portfolio
Debt Instrument [Line Items]
Debt default, amount	$ 26,300,000	$ 26,300,000
Interest rate, stated percentage	6.00%
Debt default interest	5.00%
Interest owner percentage in property	22.00%
LIBOR | Fund Portfolio | Mortgages
Debt Instrument [Line Items]
Basis spread on variable rate	1.64%
LIBOR | Fund III | Mortgages
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%

Debt - Unsecured Notes Payable

Debt - Unsecured Notes Payable - Additional Information (Details) - USD ($)	Feb. 20, 2018	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000
Long-term debt outstanding		$ 1,610,774,000	$ 1,560,333,000
Letters of credit, outstanding amount		27,700,000	19,700,000
Core Portfolio
Debt Instrument [Line Items]
Derivative, notional amount		531,885,000
Fund Portfolio | Fund II
Debt Instrument [Line Items]
Long-term debt outstanding		23,484,000
Derivative, notional amount		42,564,000
Fund Portfolio | Fund IV
Debt Instrument [Line Items]
Derivative, notional amount		182,748,000
Fund Portfolio | Fund V
Debt Instrument [Line Items]
Derivative, notional amount		156,900,000
Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, notional amount		$ 100,000,000
Derivative fixed interest rate		2.60%
Interest Rate Swaps | Fund Portfolio | Fund V
Debt Instrument [Line Items]
Derivative, notional amount		$ 0
Unsecured Debt | Fund IV | Letter of Credit
Debt Instrument [Line Items]
Letters of credit, outstanding amount		7,400,000	7,400,000
Unsecured Debt | Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding			383,000
Unsecured Notes Payable | Unsecured Debt
Debt Instrument [Line Items]
Debt available balance		114,500,000	62,300,000
Unsecured Notes Payable | Unsecured Debt | Fund Portfolio | Fund II
Debt Instrument [Line Items]
Long-term debt outstanding		40,000,000	40,000,000
$300 Million Term Loan | Unsecured Debt | Core Portfolio
Debt Instrument [Line Items]
Maximum borrowing capacity	300,000,000
$350 Million Term Loan | Unsecured Debt | Core Portfolio
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000
Long-term debt outstanding		350,000,000	350,000,000
$350 Million Term Loan | Unsecured Debt | Core Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Term Loan Maturing In September 2020 | Secured Debt | Fund II
Debt Instrument [Line Items]
Maximum borrowing capacity		40,000,000
Long-term line of credit, noncurrent		40,000,000	40,000,000
Remaining borrowing capacity		0	0
Bridge facility | Unsecured Debt | Fund IV
Debt Instrument [Line Items]
Maximum borrowing capacity		41,800,000
Long-term line of credit, noncurrent		40,800,000	40,800,000
Remaining borrowing capacity		1,000,000	1,000,000
Subscription Line | Unsecured Debt | Fund IV
Debt Instrument [Line Items]
Maximum borrowing capacity		21,500,000
Long-term line of credit, noncurrent		0	0
Remaining borrowing capacity		14,100,000	14,100,000
Subscription Line | Unsecured Debt | Fund V
Debt Instrument [Line Items]
Maximum borrowing capacity		150,000,000
Long-term line of credit, noncurrent		50,600,000
Remaining borrowing capacity		99,400,000
Subscription Line | Unsecured Debt | Fund Portfolio | Fund V
Debt Instrument [Line Items]
Long-term debt outstanding		$ 50,600,000	102,800,000
Remaining borrowing capacity			$ 47,200,000
Subscription Line | Unsecured Debt | Fund Portfolio | LIBOR | Fund V
Debt Instrument [Line Items]
Basis spread on variable rate		1.60%	1.60%

Debt - Unsecured Revolving Line

Debt - Unsecured Revolving Lines of Credit - Additional Information (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Feb. 20, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 300,000,000
Letters of credit, outstanding amount	$ 27,700,000	$ 19,700,000
Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity			150,000,000
Core Portfolio | Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Debt available balance	120,700,000	137,700,000
Maximum borrowing capacity	150,000,000		$ 150,000,000
Credit facility amount outstanding	9,000,000	0
Letters of credit, outstanding amount	$ 20,300,000	$ 12,300,000

Debt - Scheduled Principal Repa

Debt - Scheduled Principal Repayments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2019 (Remainder)	$ 217,523
2020	479,743
2021	174,345
2022	85,067
2023	412,305
Thereafter	241,791
Long-term debt and convertible notes payable	1,610,774	$ 1,560,333
Unamortized premium	728	753
Net unamortized debt issuance costs	(12,323)	(10,541)
Total Indebtedness	$ 1,599,179	$ 1,550,545

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Derivative financial instruments	$ 3,528	$ 7,018
Liabilities
Derivative financial instruments	17,374	7,304
Recurring | Level 1
Assets
Money Market Funds	1,000	4,504
Derivative financial instruments	0	0
Liabilities
Derivative financial instruments	0	0
Recurring | Level 2
Assets
Money Market Funds	0	0
Derivative financial instruments	3,528	7,018
Liabilities
Derivative financial instruments	17,374	7,304
Recurring | Level 3
Assets
Money Market Funds	0	0
Derivative financial instruments	0	0
Liabilities
Derivative financial instruments	$ 0	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Reclassification adjustment related to derivatives from AOCI to interest expense	$ 1,100,000
Derivatives designated as fair value hedges	0		$ 0
Derivative designated to hedges of net investments in foreign operations	0		$ 0
Nonrecurring | Disposal group, held-for-sale
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charges	$ 0	$ 0

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Schedule of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (17,374)	$ (7,304)
Fair value, asset derivatives	3,528	7,018
Derivative financial instruments (Note 8)	3,528	7,018
Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	100,000
Core Portfolio
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	531,885
Fair value, derivatives, net	$ (11,975)	(310)
Core Portfolio | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2020-07
Fair value, liability derivatives	$ (6,100)	(2,900)
Core Portfolio | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	286,058
Fair value, liability derivatives	(15,104)	(6,332)
Core Portfolio | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	245,827
Fair value, asset derivatives	3,129	6,022
Derivative financial instruments (Note 8)	$ 3,129	6,022
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	2.22%
Core Portfolio | Interest Rate Swaps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2013-02
Derivative Maturity Date	2019-11
Strike Rate	1.24%
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%
Core Portfolio | Interest Rate Swaps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2017-12
Derivative Maturity Date	2026-06
Strike Rate	3.77%
Fund Portfolio | Fund II
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 42,564
Fair value, derivatives, net	33	108
Fund Portfolio | Fund II | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 19,264
Derivative Effective Date	2014-10
Derivative Maturity Date	2021-11
Fair value, asset derivatives	$ 16	108
Derivative financial instruments (Note 8)	$ 16	108
Fund Portfolio | Fund II | Interest Rate Swaps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	2.88%
Fund Portfolio | Fund II | Interest Rate Swaps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	2.88%
Fund Portfolio | Fund II | Interest Rate Cap | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 23,300
Derivative Effective Date	2019-03
Derivative Maturity Date	2022-03
Fair value, asset derivatives	$ 17	0
Derivative financial instruments (Note 8)	$ 17	0
Fund Portfolio | Fund II | Interest Rate Cap | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.50%
Fund Portfolio | Fund II | Interest Rate Cap | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.50%
Fund Portfolio | Fund IV
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 182,748
Fair value, derivatives, net	329	859
Fund Portfolio | Fund IV | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 2,246
Derivative Effective Date	2019-01
Derivative Maturity Date	2022-04
Fair value, liability derivatives	$ (37)	0
Fund Portfolio | Fund IV | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	71,602
Fair value, asset derivatives	366	851
Derivative financial instruments (Note 8)	$ 366	851
Fund Portfolio | Fund IV | Interest Rate Swaps | Minimum | Other Liabilities
Derivatives, Fair Value [Line Items]
Strike Rate	2.61%
Fund Portfolio | Fund IV | Interest Rate Swaps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2017-03
Derivative Maturity Date	2020-03
Strike Rate	1.82%
Fund Portfolio | Fund IV | Interest Rate Swaps | Maximum | Other Liabilities
Derivatives, Fair Value [Line Items]
Strike Rate	2.61%
Fund Portfolio | Fund IV | Interest Rate Swaps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2017-11
Derivative Maturity Date	2022-12
Strike Rate	2.11%
Fund Portfolio | Fund IV | Interest Rate Cap | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 108,900
Fair value, asset derivatives	0	8
Derivative financial instruments (Note 8)	$ 0	8
Fund Portfolio | Fund IV | Interest Rate Cap | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2016-07
Derivative Maturity Date	2019-08
Strike Rate	3.00%
Fund Portfolio | Fund IV | Interest Rate Cap | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2016-11
Derivative Maturity Date	2019-12
Strike Rate	3.00%
Fund Portfolio | Fund III | Interest Rate Cap | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 58,000
Derivative Effective Date	2016-12
Derivative Maturity Date	2020-01
Fair value, asset derivatives	$ 0	8
Derivative financial instruments (Note 8)	$ 0	8
Fund Portfolio | Fund III | Interest Rate Cap | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.00%
Fund Portfolio | Fund III | Interest Rate Cap | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.00%
Fund Portfolio | Fund V
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 156,900
Fair value, derivatives, net	(2,233)	(951)
Fund Portfolio | Fund V | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	0
Fair value, asset derivatives	0	21
Derivative financial instruments (Note 8)	0	21
Fund Portfolio | Fund V | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	156,900
Fair value, liability derivatives	$ (2,233)	$ (972)
Fund Portfolio | Fund V | Interest Rate Swaps | Minimum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2018-01
Derivative Maturity Date	2021-02
Strike Rate	2.27%
Fund Portfolio | Fund V | Interest Rate Swaps | Maximum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-03
Derivative Maturity Date	2024-03
Strike Rate	2.88%

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Schedule of Derivative Financial Instruments (Parenthetical) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)derivative	Dec. 31, 2018USD ($)
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (17,374)	$ (7,304)
Core Portfolio | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | derivative	2
Fair value, liability derivatives	$ (6,100)	$ (2,900)
Derivative Effective Date	2020-07

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Financial statements of Income (Losses) Recognized Related to Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (loss) income recognized in other comprehensive income	$ (13,306)	$ 5,653
Amount of (income) loss subsequently reclassified to earnings	$ (551)	$ 363

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Schedule of Other Financial Instruments Carrying Values and Fair values (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	$ 109,769	$ 109,613
Mortgage and Other Notes Payable	1,599,179	1,550,545
Unsecured notes payable and Unsecured line of credit	481,019	533,257
Level 3 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	109,769	109,613
Mortgage and Other Notes Payable	1,120,349	1,026,708
Investment in non-traded equity securities	0	0
Level 3 | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	108,343	107,370
Mortgage and Other Notes Payable	1,122,067	1,021,075
Investment in non-traded equity securities	23,208	23,208
Level 2 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes payable and Unsecured line of credit	490,425	533,625
Level 2 | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes payable and Unsecured line of credit	$ 490,819	$ 533,954

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Contractual obligation	$ 69.9	$ 55.5
Letters of credit, outstanding amount	$ 27.7	$ 19.7

Shareholders' Equity, Noncont_3

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Common Shares and Units - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Restricted shares
Class Of Stock [Line Items]
Restricted stock, shares canceled for tax withholding for share based compensation (in shares)	2,468		3,288
LTIP Units and Restricted Stock
Class Of Stock [Line Items]
Unit based compensation	$ 1.9	$ 2.2	$ 8.4

Shareholders' Equity, Noncont_4

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - ATM Program - Additional Information (Details) - ATM Program $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Class Of Stock [Line Items]
Issuance of ordinary shares (in shares) | shares	970,835
Gross proceeds	$ 28.2
Weighted Average Share Price | $ / shares	$ 29.08
Proceeds from stock plans net of issuance costs	$ 27.8

Shareholders' Equity, Noncont_5

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Share Repurchases - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Authorized amount			$ 200,000,000
Number of shares repurchased during period (in shares)	0		2,294,235
Shares repurchased during period		$ 31,961,000	$ 55,100,000
Stock repurchase fees			$ 100,000
Remaining authorized repurchase amount	$ 144,900,000

Shareholders' Equity, Noncont_6

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Dividends and Distributions - Additional Information (Details) - $ / shares	Feb. 28, 2019	Nov. 15, 2018	Mar. 31, 2019	Mar. 31, 2018
Class Of Stock [Line Items]
Cash dividends declared per common share (in dollars per share)			$ 0.28	$ 0.27
Regular Quarterly Cash Dividend
Class Of Stock [Line Items]
Cash dividends declared, period increase (in dollars per share)		$ 0.01
Cash dividends declared per common share (in dollars per share)	$ 0.28	$ 0.28
Fourth Quarter Two Thousand Eighteen
Class Of Stock [Line Items]
Cash dividends, declared date			Nov. 15, 2018
Cash dividends, record date			Dec. 31, 2018
Cash dividends, paid date			Jan. 15, 2019
First Quarter Two Thousand Nineteen
Class Of Stock [Line Items]
Cash dividends, declared date			Feb. 28, 2019
Cash dividends, record date			Mar. 29, 2019
Cash dividends, paid date			Apr. 15, 2019

Shareholders' Equity, Noncont_7

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Summary of Activity in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 2,081,947	$ 2,215,639
Other comprehensive loss before reclassifications	(13,306)	5,653
Reclassification of realized interest on swap agreements	(551)	363
Net current period other comprehensive Income (loss)	(13,857)	6,016
Ending Balance	2,106,352	2,164,667
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	516	2,614
Ending Balance	(11,021)	7,376
AOCI Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net current period other comprehensive Income (loss)	$ 2,320	$ (1,254)

Shareholders' Equity, Noncont_8

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Summary of Change in Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 622,442
Net income (loss) for the three months ended March 31, 2019	2,936	$ (4,160)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0	0
Other comprehensive loss - unrealized loss on valuation of swap agreements	(13,306)	5,653
Reclassification of realized interest on swap agreements	(551)	363
Noncontrolling interest contributions	32,191
Noncontrolling interest distributions	(3,237)	(695)
Employee Long-term Incentive Plan Unit Awards	3,454	3,811
Rebalancing adjustment	0	0
Ending Balance	640,421
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	622,442	648,440
Distributions declared of $0.81 and $0.78 per Common OP Unit for nine months ended September 30, 2018 and 2017, respectively	(1,781)	(1,721)
Net income (loss) for the three months ended March 31, 2019	(9,261)	(11,579)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	(2,953)	(642)
Other comprehensive loss - unrealized loss on valuation of swap agreements	(2,299)	1,160
Reclassification of realized interest on swap agreements	(21)	94
Noncontrolling interest contributions	32,191
Noncontrolling interest distributions	(3,237)	(695)
Employee Long-term Incentive Plan Unit Awards	3,360	3,716
Rebalancing adjustment	1,980	1,225
Ending Balance	640,421	639,998
Noncontrolling Interests | Restatement Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance	1,980
Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	518,219	545,519
Distributions declared of $0.81 and $0.78 per Common OP Unit for nine months ended September 30, 2018 and 2017, respectively	0	0
Net income (loss) for the three months ended March 31, 2019	(10,192)	(12,191)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0	0
Other comprehensive loss - unrealized loss on valuation of swap agreements	(1,605)	886
Reclassification of realized interest on swap agreements	1	84
Noncontrolling interest contributions	32,191
Noncontrolling interest distributions	(3,237)	(695)
Employee Long-term Incentive Plan Unit Awards	0	0
Rebalancing adjustment		0
Ending Balance	535,377	533,603
Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates | Restatement Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance	0
Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	104,223	102,921
Distributions declared of $0.81 and $0.78 per Common OP Unit for nine months ended September 30, 2018 and 2017, respectively	(1,781)	(1,721)
Net income (loss) for the three months ended March 31, 2019	931	612
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	(2,953)	(642)
Other comprehensive loss - unrealized loss on valuation of swap agreements	(694)	274
Reclassification of realized interest on swap agreements	(22)	10
Noncontrolling interest contributions	0
Noncontrolling interest distributions	0	0
Employee Long-term Incentive Plan Unit Awards	3,360	3,716
Rebalancing adjustment	1,980	1,225
Ending Balance	105,044	$ 106,395
Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member | Restatement Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance	$ 1,980

Shareholders' Equity, Noncont_9

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Summary of Change in Noncontrolling Interest (Parenthetical) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Minority Interest [Line Items]
Distributions declared (in dollars per share)	$ 0.28	$ 0.27
Conversion of Common OP Units to Common Shares by limited partners of the Operating Partnership (in shares)	174,529	36,126
Operating Partnership, as General Partner or Managing Member
Minority Interest [Line Items]
Series A Preferred OP Units (in shares)	3,325,240	3,328,873
Operating Partnership, as General Partner or Managing Member | Series A Preferred Stock
Minority Interest [Line Items]
Series A Preferred OP Units (in shares)	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)	136,593	136,593
LTIP Units
Minority Interest [Line Items]
LTIP units outstanding (in shares)	2,726,043	2,619,872

Shareholders' Equity, Noncon_10

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Preferred OP Units - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended		39 Months Ended	243 Months Ended
	Mar. 31, 2019	Dec. 31, 2016	Dec. 31, 1999	Mar. 31, 2019	Mar. 31, 2019	Mar. 31, 2018
Class Of Stock [Line Items]
Denominator for Series A Preferred OP Unit conversion	$ 7,500			$ 7,500	$ 7,500
Common Shares
Class Of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)	971,000
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
Operating Partnership, as General Partner or Managing Member
Class Of Stock [Line Items]
Series A Preferred OP Units (in shares)	3,325,240			3,325,240	3,325,240	3,328,873
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
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			$ 1,000	$ 1,000
Per unit conversion amount, Series A Preferred OP Units (in dollars per unit)	$ 22.50			$ 22.50	$ 22.50
Per unit conversion annual rate, Preferred OP Units	9.00%			9.00%	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 Stock | Operating Partnership, as General Partner or Managing Member
Class Of Stock [Line Items]
Series A Preferred OP Units (in shares)	188			188	188	188
Series C Preferred Stock | Gotham Plaza
Class Of Stock [Line Items]
Number of preferred OP Units converted (in shares)				5,000
Units converted from Preferred OP Units (in shares)				17,165
Series C Preferred Stock | Operating Partnership, as General Partner or Managing Member
Class Of Stock [Line Items]
Series A Preferred OP Units (in shares)	136,593			136,593	136,593	136,593

Leases - Operating Leases - Add

Leases - Operating Leases - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)itemshopping_center	Mar. 31, 2018USD ($)
Operating Leased Assets [Line Items]
Variable lease revenues	$ 13,300
Cumulative effect adjustment to retained earnings required upon adoption of the new standard	0
Operating lease, right-of-use asset	$ 11,871
Number of operating lease | item	9
Number of finance lease | item	4
Finance lease, right-of-use asset	$ 82,629
Number of shopping centers with land leases | shopping_center	6
Ground lease expense		$ 400
Rent expense capitalized		200
Rent expense		200
Capital lease term	49 years
Capital Lease Liability
Operating Leased Assets [Line Items]
Finance lease liabilities	$ 71,100
Repayments capital lease obligations		$ 600
Ground, Office and Equipment Leases
Operating Leased Assets [Line Items]
Operating lease, right-of-use asset	82,600
Operating lease liabilities	76,600
Capital Leases Asset
Operating Leased Assets [Line Items]
Finance lease, right-of-use asset	77,000
Accounting Standards Update 2016-02
Operating Leased Assets [Line Items]
Operating lease, right-of-use asset	11,900
Operating lease liabilities	12,800
Finance lease, right-of-use asset	$ 5,700
Minimum
Operating Leased Assets [Line Items]
Operating lease term	1 month
Period of lease term	25 years
Maximum
Operating Leased Assets [Line Items]
Operating lease term	60 years
Period of lease term	71 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Finance lease cost:
Amortization of right-of-use assets	$ 496
Interest on lease liabilities	843
Subtotal	1,339
Operating lease cost	536
Variable lease cost	32
Total lease cost	$ 1,907
Weighted-average remaining lease term - finance leases (years)	47 years 4 months 24 days
Weighted-average remaining lease term - operating leases (years)	8 years 4 months 24 days
Weighted-average discount rate - finance leases	4.40%
Weighted-average discount rate - operating leases	5.00%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases (Details) $ in Thousands	Mar. 31, 2019USD ($)
Minimum Rental Revenues
2019 (Remainder)	$ 139,533
2020	186,498
2021	167,505
2022	147,103
2023	128,675
Thereafter	562,214
Total	1,331,528
Minimum Rental Payments
2019 (Remainder)	3,590
2020	4,571
2021	4,354
2022	4,404
2023	4,425
Thereafter	180,618
Total	$ 201,962

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Summary of

Segment Reporting - Summary of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 74,800	$ 63,124
Depreciation and amortization	(30,333)	(28,576)
Property operating expenses, other operating and real estate taxes	(21,950)	(19,377)
General and administrative expenses	(8,323)	(8,470)
Operating income	14,194	6,701
Gain on disposition of properties	2,014
Interest income	2,270	3,737
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties	2,271	1,684
Interest expense	(17,859)	(15,890)
Income tax benefit (provision)	46	(392)
Net income (loss)	2,936	(4,160)
Net (income) loss attributable to noncontrolling interests	9,261	11,579
Net income attributable to Acadia	12,197	7,419
Real estate at cost	3,755,591	3,529,805
Total assets	4,038,875	3,938,976	$ 3,958,780
Cash paid for acquisition of real estate	32,034	46,171
Cash paid for development and property improvement costs	19,909	18,136
Operating Segments | Core Portfolio
Segment Reporting Information [Line Items]
Revenues	46,687	41,628
Depreciation and amortization	(15,679)	(15,498)
Property operating expenses, other operating and real estate taxes	(11,996)	(10,894)
General and administrative expenses	0	0
Operating income	19,012	15,236
Gain on disposition of properties	0
Interest income	0	0
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties	2,270	1,426
Interest expense	(6,693)	(6,502)
Income tax benefit (provision)	0	0
Net income (loss)	14,589	10,160
Net (income) loss attributable to noncontrolling interests	(41)	(73)
Net income attributable to Acadia	14,548	10,087
Real estate at cost	2,114,727	2,042,280
Total assets	2,244,349	2,283,451
Cash paid for acquisition of real estate	32,034	1,337
Cash paid for development and property improvement costs	4,033	5,946
Operating Segments | Funds
Segment Reporting Information [Line Items]
Revenues	28,113	21,496
Depreciation and amortization	(14,654)	(13,078)
Property operating expenses, other operating and real estate taxes	(9,954)	(8,483)
General and administrative expenses	0	0
Operating income	3,505	(65)
Gain on disposition of properties	2,014
Interest income	0	0
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties	1	258
Interest expense	(11,166)	(9,388)
Income tax benefit (provision)	0	0
Net income (loss)	(5,646)	(9,195)
Net (income) loss attributable to noncontrolling interests	9,302	11,652
Net income attributable to Acadia	3,656	2,457
Real estate at cost	1,640,864	1,487,525
Total assets	1,684,757	1,546,566
Cash paid for acquisition of real estate	0	44,834
Cash paid for development and property improvement costs	15,876	12,190
Operating Segments | Structured Financing
Segment Reporting Information [Line Items]
Revenues	0	0
Depreciation and amortization	0	0
Property operating expenses, other operating and real estate taxes	0	0
General and administrative expenses	0	0
Operating income	0	0
Gain on disposition of properties	0
Interest income	2,270	3,737
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties	0	0
Interest expense	0	0
Income tax benefit (provision)	0	0
Net income (loss)	2,270	3,737
Net (income) loss attributable to noncontrolling interests	0	0
Net income attributable to Acadia	2,270	3,737
Real estate at cost	0	0
Total assets	109,769	108,959
Cash paid for acquisition of real estate	0	0
Cash paid for development and property improvement costs	0	0
Unallocated
Segment Reporting Information [Line Items]
Revenues	0	0
Depreciation and amortization	0	0
Property operating expenses, other operating and real estate taxes	0	0
General and administrative expenses	(8,323)	(8,470)
Operating income	(8,323)	(8,470)
Gain on disposition of properties	0
Interest income	0	0
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties	0	0
Interest expense	0	0
Income tax benefit (provision)	46	(392)
Net income (loss)	(8,277)	(8,862)
Net (income) loss attributable to noncontrolling interests	0	0
Net income attributable to Acadia	(8,277)	(8,862)
Real estate at cost	0	0
Total assets	0	0
Cash paid for acquisition of real estate	0	0
Cash paid for development and property improvement costs	$ 0	$ 0

Share Incentive and Other Com_3

Share Incentive and Other Compensation - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit based compensation	$ 3,454,000	$ 3,809,000
Trustee fees	300,000	300,000
Total unrecognized compensation cost related to nonvested awards	$ 21,500,000
Weighted-average period over which cost is expected to be recognized	1 year 10 months 24 days
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	$ 8,400,000		$ 12,800,000
LTIP Units | Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures	17,427
Shares granted to trustees for trustee fees vesting on one year anniversary of grant date	8,949
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
LTIP Units | Tranche One | Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures	8,478
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares that vested	$ 200,000		$ 800,000
Restricted shares | Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures	17,050
Shares granted to trustees for trustee fees vesting on one year anniversary of grant date	5,181
Restricted shares | Tranche One | Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures	11,869
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	$ 11,100,000
Weighted average grant date fair value, grants (in dollars per share)	$ 33.04		$ 26.64
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	$ 1,900,000	2,200,000
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	$ 100,000	100,000
Share Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	731,267
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	330,718
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	8,041
Performance Shares 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Volatility rate	(19.60%)
Risk-free interest rates	(2.50%)
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%
Compensation expense	$ 0	0
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				22.80%
Awards in connection with fund to have intrinsic value	0
Compensation expense	0	0
Long Term Investment Alignment Program | Fund V
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of promote awarded as share based compensation award				2.20%
Awards in connection with fund to have intrinsic value	0
Compensation expense	$ 0	$ 0

Share Incentive and Other Com_4

Share Incentive and Other Compensation - Schedule of Unvested Shares and LTIP Units (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
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)	38,455	41,327
Shares granted (in shares)	8,041	22,817
Shares vested (in shares)	(7,288)	(25,261)
Shares forfeited (in shares)		(428)
Shares unvested, End of period (in shares)	39,208	38,455
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 22.44	$ 26.92
Shares granted, Weighted average grant date fair value (in dollars per share)	30.83	23.65
Shares vested, Weighted average grant date fair value (in dollars per share)	29.87	30.79
Shares forfeited, Weighted average grant date fair value (in dollars per share)		27.25
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 22.78	$ 22.44
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)	891,886	910,099
Shares granted (in shares)	330,718	425,880
Shares vested (in shares)	(275,447)	(431,827)
Shares forfeited (in shares)	(3,588)	(12,266)
Shares unvested, End of period (in shares)	943,569	891,886
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 26.87	$ 28.28
Shares granted, Weighted average grant date fair value (in dollars per share)	33.09	26.80
Shares vested, Weighted average grant date fair value (in dollars per share)	30.52	29.72
Shares forfeited, Weighted average grant date fair value (in dollars per share)	27.55	28.57
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 27.98	$ 26.87

Share Incentive and Other Com_5

Share Incentive and Other Compensation - Employee Share Purchase Plan and Deferred Share Plan - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
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
Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee share purchase (in shares)	706	943

Share Incentive and Other Com_6

Share Incentive and Other Compensation - Employee 401 (k) Plan - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019
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%

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019
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 Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income attributable to Acadia	$ 12,197	$ 7,419
Less: net income attributable to participating securities	(68)	(44)
Income from continuing operations net of income attributable to participating securities	$ 12,129	$ 7,375
Denominator:
Weighted average shares for basic earnings per share (in shares)	82,032,852	83,434,083
Effect of dilutive securities:
Employee unvested restricted shares (in shares)	4,562	4,394
Denominator for diluted earnings per share (in shares)	82,037,414	83,438,477
Basic and diluted earnings per share (in dollars per share)	$ 0.15	$ 0.09
Series A Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	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
Series C Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	136,593	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)	474,278	474,278