Acadia Realty Trust (AKR) 10-K 20 Feb 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 12, 2020	Jun. 30, 2019
Cover [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-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		82,127,330
Entity Public Float			$ 2,311.5
Entity Shell Company	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity File Number	1-12002
Entity Tax Identification Number	23-2715194
Entity Address, Address Line One	411 Theodore Fremd Avenue
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Rye
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10580
City Area Code	914
Local Phone Number	288-8100
Title of 12(b) Security	Common shares of beneficial interest, par value $0.001 per share
Security Exchange Name	NYSE
Document Annual Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	MD
Entity Interactive Data Current	Yes
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Part III – Portions of the registrant’s definitive proxy statement relating to its 2020 Annual Meeting of Shareholders presently scheduled to be held May 7, 2020 to be filed pursuant to Regulation 14A.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Operating real estate, net	$ 3,355,913	$ 3,160,851
Real estate under development	253,402	120,297
Net investments in real estate	3,609,315	3,281,148
Notes receivable, net	114,943	111,775
Investments in and advances to unconsolidated affiliates	305,097	262,410
Other assets, net	190,658	206,408
Cash and cash equivalents	15,845	21,268
Restricted cash	14,165	13,580
Rents receivable	59,091	62,191
Total assets	4,309,114	3,958,780
LIABILITIES
Mortgage and other notes payable, net	1,170,076	1,017,288
Unsecured notes payable, net	477,320	533,257
Unsecured line of credit	60,800	0
Accounts payable and other liabilities	371,516	286,072
Dividends and distributions payable	27,075	24,593
Distributions in excess of income from, and investments in, unconsolidated affiliates	15,362	15,623
Total liabilities	2,122,149	1,876,833
Commitments and contingencies
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 87,050,465 and 81,557,472 shares, respectively	87	82
Additional paid-in capital	1,706,357	1,548,603
Accumulated other comprehensive (loss) income	(31,175)	516
Distributions in excess of accumulated earnings	(132,961)	(89,696)
Total Acadia shareholders’ equity	1,542,308	1,459,505
Noncontrolling interests	644,657	622,442
Total equity	2,186,965	2,081,947
Total liabilities and equity	$ 4,309,114	$ 3,958,780

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 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)	87,050,465	81,557,472
Common shares, outstanding (in shares)	87,050,465	81,557,472

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Rental income	$ 291,190	$ 254,508	$ 242,138
Revenues	295,327	259,681	248,552
Operating expenses
Depreciation and amortization	125,443	117,549	104,934
General and administrative	35,416	34,343	33,756
Real estate taxes	39,315	36,712	35,946
Property operating	51,153	42,679	39,958
Impairment charges	1,721		14,455
Other operating		857	2,184
Total operating expenses	253,048	232,140	231,233
Gain on disposition of properties	30,324	5,140	48,886
Operating income	72,603	32,681	66,205
Equity in earnings of unconsolidated affiliates inclusive of gain on disposition of properties of $0, $0 and $15,336, respectively	8,922	9,302	23,371
Interest income	7,988	13,231	29,143
Other income	6,947		5,571
Interest expense	(73,788)	(69,978)	(58,978)
Income (loss) from continuing operations before income taxes	22,672	(14,764)	65,312
Income tax provision	(1,468)	(934)	(1,004)
Net income (loss)	21,204	(15,698)	64,308
Net loss (income) attributable to noncontrolling interests	31,841	47,137	(2,838)
Net income attributable to Acadia	$ 53,045	$ 31,439	$ 61,470
Basic and diluted earnings per share (in dollars per share)	$ 0.62	$ 0.38	$ 0.73
Other
Revenues	$ 4,137	$ 5,173	$ 6,414

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Gains (losses) on disposition of properties	$ 0	$ 0	$ 15,336

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 21,204	$ (15,698)	$ 64,308
Other comprehensive (loss) income:
Unrealized (loss) income on valuation of swap agreements	(35,674)	(2,659)	634
Reclassification of realized interest on swap agreements	(872)	71	3,317
Other comprehensive (loss) income	(36,546)	(2,588)	3,951
Comprehensive (loss) income	(15,342)	(18,286)	68,259
Comprehensive loss (income) attributable to noncontrolling interests	36,696	47,627	(3,377)
Comprehensive income attributable to Acadia	$ 21,354	$ 29,341	$ 64,882

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, 2016	$ 2,178,125	$ 84	$ 1,594,926	$ (798)	$ (5,635)	$ 1,588,577	$ 589,548
Balance (in Shares) at Dec. 31, 2016		83,598,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0		1,541			1,541	(1,541)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)		87,000
Dividends/distributions declared ($1.13, $1.09 and 1.05 per Common Share/OP Unit for Year Ended Dec 31, 2019, 2018 and 2017)	(94,301)				(87,848)	(87,848)	(6,453)
Employee and trustee stock compensation, net	11,155		698			698	10,457
Employee and trustee stock compensation, net (in Shares)		23,000
Noncontrolling interest distributions	(32,805)						(32,805)
Noncontrolling interest contributions	85,206						85,206
Comprehensive (loss) income	68,259			3,412	61,470	64,882	3,377
Reallocation of noncontrolling interests	0		(651)			(651)	651
Ending 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		2,068			2,068	(2,068)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)		117,000
Repurchase of Common Shares	$ (55,111)	$ (2)	(55,109)			(55,111)
Repurchase of Common Shares (in shares)	(2,294,235)	(2,294,000)
Dividends/distributions declared ($1.13, $1.09 and 1.05 per Common Share/OP Unit for Year Ended Dec 31, 2019, 2018 and 2017)	$ (96,010)				(89,122)	(89,122)	(6,888)
Employee and trustee stock compensation, net	12,948		574			574	12,374
Employee and trustee stock compensation, net (in Shares)		26,000
Noncontrolling interest distributions	(24,793)						(24,793)
Noncontrolling interest contributions	47,560						47,560
Comprehensive (loss) income	(18,286)			(2,098)	31,439	29,341	(47,627)
Reallocation of noncontrolling interests	0		4,556			4,556	(4,556)
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		5,104			5,104	(5,104)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)		308,000
Repurchase of Common Shares (in shares)	0
Issuance of Common Shares	$ 145,498	$ 5	145,493			145,498
Issuance of Common Shares		5,164,000
Dividends/distributions declared ($1.13, $1.09 and 1.05 per Common Share/OP Unit for Year Ended Dec 31, 2019, 2018 and 2017)	(103,434)				(96,310)	(96,310)	(7,124)
Employee and trustee stock compensation, net	10,957		546			546	10,411
Employee and trustee stock compensation, net (in Shares)		21,000
Noncontrolling interest distributions	(94,289)						(94,289)
Noncontrolling interest contributions	161,628						161,628
Comprehensive (loss) income	(15,342)			(31,691)	53,045	21,354	(36,696)
Reallocation of noncontrolling interests	0		6,611			6,611	(6,611)
Ending Balance at Dec. 31, 2019	$ 2,186,965	$ 87	$ 1,706,357	$ (31,175)	$ (132,961)	$ 1,542,308	$ 644,657
Balance (in Shares) at Dec. 31, 2019	87,050,465	87,050,000

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Stockholders Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.29	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.27	$ 0.27	$ 0.27	$ 1.13	$ 1.09	$ 1.05

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 21,204	$ (15,698)	$ 64,308
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	125,443	117,549	104,934
Distributions of operating income from unconsolidated affiliates	11,273	15,556	15,556
Equity in earnings and gains of unconsolidated affiliates	(8,922)	(9,302)	(23,371)
Stock compensation expense	10,957	12,948	11,155
Amortization of financing costs	7,577	6,008	5,985
Impairment charge	1,721		14,455
Gain on disposition of properties	(30,324)	(5,140)	(48,886)
Gain on change in control			(5,571)
Deferred gain on tax credits	(5,034)
Other, net	(11,627)	(11,768)	(10,621)
Changes in assets and liabilities:
Other liabilities	(4,466)	6,161	(4,285)
Prepaid expenses and other assets	8,198	(7,168)	(6,498)
Rents receivable, net	(455)	(10,044)	(11,274)
Accounts payable and accrued expenses	1,632	(3,026)	8,768
Net cash provided by operating activities	127,177	96,076	114,655
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate	(319,673)	(147,985)	(200,429)
Acquisition of leasehold interests	(39,031)
Development, construction and property improvement costs	(89,270)	(94,834)	(108,142)
Issuance of or advances on notes receivable	(3,608)	(3,002)	(10,600)
Proceeds from the disposition of properties, net	88,738	63,866	260,711
Investments in and advances to unconsolidated affiliates and other	(151,281)	(3,161)	(6,535)
Return of capital from unconsolidated affiliates and other	105,999	26,338	43,684
Proceeds from notes receivable	15,250	26,000	32,000
Return of deposits for properties under contract	2,870	1,692	(2,000)
Payment of deferred leasing costs	(7,051)	(6,106)	(5,202)
Change in control of previously unconsolidated affiliate		573	576
Net cash (used in) provided by investing activities	(397,057)	(136,619)	4,063
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes	(168,211)	(81,726)	(306,119)
Principal payments on unsecured debt	(521,600)	(632,300)	(277,134)
Proceeds received on mortgage and other notes	326,268	187,173	156,344
Proceeds from unsecured debt	526,400	648,800	359,625
Payments of finance lease obligations	(2,749)
Repurchase of Common Shares		(55,111)
Proceeds from the sale of Common Shares, net	145,498
Capital contributions from noncontrolling interests	161,628	47,560	85,206
Distributions to noncontrolling interests	(101,370)	(31,568)	(39,942)
Dividends paid to Common Shareholders	(93,902)	(88,887)	(99,527)
Deferred financing and other costs	(6,920)	(4,219)	(6,211)
Net cash provided by (used in) financing activities	265,042	(10,278)	(127,758)
Decrease in cash and restricted cash	(4,838)	(50,821)	(9,040)
Cash of $21,268, $74,823 and $71,805 and restricted cash of $13,580, $10,846 and $22,904, respectively, beginning of year	34,848	85,669	94,709
Cash of $15,845, $21,268 and $74,823 and restricted cash of $14,165, $13,580 and $10,846, respectively, end of year	30,010	34,848	85,669
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $12,586 and $5,625 and $13,509 respectively	53,586	61,832	49,942
Cash paid for income taxes, net of refunds	730	1,227	875
Supplemental disclosure of non-cash investing activities
Assumption of accounts payable and accrued expenses through acquisition of real estate	4,666	2,597	2,173
Right-of-use assets, finance leases obtained in exchange for finance lease liabilities	16,349
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	57,165
Capital lease obligation exchanged for finance lease liability	71,111
Note receivable exchanged for sale of real estate	13,530
Other liabilities exchanged for operating lease liabilities	946
Assumption of debt through investments in unconsolidated affiliates	4,688
Acquisition of undivided interest in a property through conversion of notes receivable		22,201	60,695
Acquisition of real estate through conversion of note receivable			9,142
Change in control of previously unconsolidated (consolidated) investment
(Increase) decrease in real estate	828	(31,836)	(39,322)
Decrease (increase) in investments in and advances to unconsolidated affiliates	(1,189)	35,881	4,159
Change in other assets and liabilities	12	(3,472)	(1,842)
Decrease in right-of-use assets, finance leases	11,051
Decrease in finance lease liability	$ (10,702)
Decrease in notes receivable			32,010
Gain on change in control			5,571
Increase in cash and restricted cash upon change of control		$ 573	$ 576

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Cash Flows [Abstract]
Cash and cash equivalents, beginning balance	$ 21,268	$ 74,823	$ 71,805
Cash and cash equivalents, ending balance	15,845	21,268	74,823
Restricted cash, beginning balance	13,580	10,846	22,904
Restricted cash, ending balance	14,165	13,580	10,846
Cash paid for capitalized interest	$ 12,586	$ 5,625	$ 13,509

Organization, Basis of Presenta

Organization, Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization, Basis of Presentation and Summary of Significant Accounting Policies	1. Organization, Basis of Presentation and Summary of Significant Accounting Policies Organization Acadia Realty Trust (collectively with its subsidiaries, the “Company”) is a fully-integrated equity real estate investment trust (“REIT”) focused on the ownership, acquisition, development, and management of retail properties located primarily in high-barrier-to-entry, supply-constrained, densely-populated metropolitan areas in the United States. All of the Company’s assets are held by, and all of its operations are conducted through, Acadia Realty Limited Partnership (the “Operating Partnership”) and entities in which the Operating Partnership owns an interest. As of December 31, 2019 and 2018, the Company controlled approximately 95% and 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 December 31, 2019, the Company has ownership interests in 129 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 57 properties within its opportunity funds, Acadia Strategic Opportunity Fund II, LLC (“Fund II”), Acadia Strategic Opportunity Fund III LLC (“Fund III”), Acadia Strategic Opportunity Fund IV LLC (“Fund IV”), and Acadia Strategic Opportunity Fund V LLC (“Fund V” and collectively with Fund II, Fund III, and Fund IV, the “Funds”). The 186 Core Portfolio and Fund properties primarily consist of street and urban retail, and suburban shopping centers. In addition, the Company, together with the investors in the Funds, invested in operating companies through Acadia Mervyn Investors I, LLC (“Mervyns I,” which was liquidated in 2018) and Acadia Mervyn Investors II, LLC (“Mervyns II”), all on a non-recourse basis. The Company consolidates the Funds as it has (i) the power to direct the activities that most significantly impact the Funds’ economic performance, (ii) is obligated to absorb the Funds’ losses and (iii) has the right to receive benefits from the Funds that could potentially be significant. The Operating Partnership is the sole general partner or managing member of the Funds and Mervyns II and earns fees or priority distributions for asset management, property management, construction, development, leasing, and legal services. Cash flows from the Funds and Mervyns II are distributed pro-rata to their respective partners and members (including the Operating Partnership) until each receives a certain cumulative return (“Preferred Return”) and the return of all capital contributions. Thereafter, remaining cash flow is distributed 20% to the Operating Partnership (“Promote”) and 80% to the partners or members (including the Operating Partnership). All transactions between the Funds and the Operating Partnership have been eliminated in consolidation. The following table summarizes the general terms and Operating Partnership’s equity interests in the Funds and Mervyns II (dollars in millions): Entity Formation Date Operating Partnership Share of Capital Capital Called as of December 31, 2019 (b) Unfunded Commitment (b) Equity Interest Held By Operating Partnership (a) Preferred Return Total Distributions as of December 31, 2019 (b) Fund II and Mervyns II (c) 6/2004 28.33 % $ 347.1 $ 15.0 28.33 % 8 % $ 146.6 Fund III 5/2007 24.54 % 436.4 13.6 24.54 % 6 % 568.8 Fund IV 5/2012 23.12 % 438.1 91.9 23.12 % 6 % 193.1 Fund V 8/2016 20.10 % 213.3 306.7 20.10 % 6 % 11.1 (a) Amount represents the current economic ownership at December 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 December 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-level basis and does not differentiate properties on a geographical basis for purposes of allocating resources or capital. Principles of Consolidation The consolidated financial statements include the consolidated accounts of the Company and its investments in partnerships and limited liability companies in which the Company has control in accordance with FASB Accounting Standards Codification Topic 810 “Consolidation.” The ownership interests of other investors in these entities are recorded as noncontrolling interests. All significant intercompany balances and transactions have been eliminated in consolidation. Investments in entities for which the Company has the ability to exercise significant influence over, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or losses) of these entities are included in consolidated net income. Use of Estimates GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, revenue recognition and the collectability of notes receivable and rents receivable. Application of these estimates and assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates. Reclassifications Certain prior year amounts with regard to gains on dispositions of properties and credit losses have been reclassified to conform to the current year presentation. These reclassifications had no effect on the reported results of operations. Summary of Significant Accounting Policies Real Estate Land, buildings, and personal property are carried at cost less accumulated depreciation. Improvements and significant renovations that extend the useful life of the properties are capitalized, while replacements, maintenance, and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Real estate under development includes costs for significant property expansion and development. Depreciation is computed on the straight-line basis over estimated useful lives of the assets as follows: Buildings and improvements Useful lives of Furniture and fixtures Useful lives, ranging from Tenant improvements Shorter of economic life or lease terms Purchase Accounting – Upon acquisitions of real estate, the Company assesses the fair value of acquired assets and assumed liabilities (including land, buildings and improvements, and identified intangibles such as above- and below-market leases and acquired in-place leases and customer relationships) and acquired liabilities in accordance with and “ and allocates the acquisition price based on these assessments. When acquisitions of properties do not meet the criteria for business combinations, no goodwill is recorded and acquisition costs are capitalized The Company assesses fair value of its tangible assets acquired and assumed liabilities based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information at the measurement period. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. In determining the value of above- and below-market leases, the Company estimates the present value difference between contractual rent obligations and estimated market rate of leases at the time of the transaction. To the extent there were fixed-rate options at below-market rental rates, the Company included these along with the current term below-market rent in arriving at the fair value of the acquired leases. The discounted difference between contract and market rents is being amortized to rental income over the remaining applicable lease term, inclusive of any option periods. In determining the value of acquired in-place leases and customer relationships, the Company considers market conditions at the time of the transaction and values the costs to execute similar leases during the expected lease-up period from vacancy to existing occupancy, including carrying costs. The value assigned to in-place leases and tenant relationships is amortized over the estimated remaining term of the leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs relating to that lease would be written off. The Company estimates the value of any assumption of mortgage debt based on market conditions at the time of acquisitions including prevailing interest rates, terms and ability to obtain financing for a similar asset. Mortgage debt discounts or premiums are amortized into interest expense over the remaining term of the related debt instrument. Real Estate Under Development – The Company capitalizes certain costs related to the development of real estate. Interest and real estate taxes incurred during the period of the construction, expansion or development of real estate are capitalized and depreciated over the estimated useful life of the building. The Company will cease the capitalization of these costs when construction activities are substantially completed and the property is available for occupancy by tenants, but no later than one year from the completion of major construction activity at which time the project is placed in service and depreciation commences. If the Company suspends substantially all activities related to development of a qualifying asset, the Company will cease capitalization of interest and taxes until activities are resumed. Real Estate Impairment – The Company reviews its real estate and real estate under development for impairment when there is an event or a change in circumstances that indicates that the carrying amount may not be recoverable. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value. The determination of anticipated undiscounted cash flows is inherently subjective, requiring significant estimates made by management, and considers the most likely expected course of action at the balance sheet date based on current plans, intended holding periods and available market information. If the Company is evaluating the potential sale of an asset, the undiscounted future cash flows analysis is probability-weighted based upon management’s best estimate of the likelihood of the alternative courses of action as of the balance sheet date. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. If an impairment is indicated, an impairment loss is recognized based on the excess of the carrying amount of the asset over its fair value. See Note 8 for information about impairment charges incurred during the periods presented. Dispositions of Real Estate – The Company recognizes property sales in accordance with “ Sales of real estate include the sale of land, operating properties and investments in real estate joint ventures. Beginning January 1, 2018, gains on sale of investment properties are recognized, and the related real estate derecognized, when the Company has satisfied its performance obligations by transferring control of the property. Typically, the timing of payment and satisfaction of performance obligations occur simultaneously on the disposition date upon transfer of the property’s ownership. Prior to January 1, 2018, gains from dispositions were recognized under the full accrual or partial sales method provided that various criteria relating to terms of sales and subsequent involvement by the Company with the asset sold are met. Real Estate Held for Sale – The Company generally considers assets to be held for sale when it has entered into a contract to sell the property, all material due diligence requirements have been satisfied, and management believes it is probable that the disposition will occur within one year. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost to sell. Notes Receivable Notes receivable include certain loans that are held for investment and are collateralized by real estate-related investments and may be subordinate to other senior loans. Notes receivable are recorded at stated principal amounts or at initial investment less accretive yield for loans purchased at a discount, which is accreted over the life of the note. The Company defers loan origination and commitment fees, net of origination costs, and amortizes them over the term of the related loan. The Company evaluates the collectability of both principal and interest based upon an assessment of the underlying collateral value to determine whether it is impaired. A reserve is recorded when, based upon current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. The amount of the reserve is calculated by comparing the recorded investment to the value of the underlying collateral. As the underlying collateral for a majority of the notes receivable is real estate-related investments, the same valuation techniques are used to value the collateral as those used to determine the fair value of real estate investments for impairment purposes. Given the small number of notes outstanding, the Company does not provide for an additional reserve based on the grouping of loans, as the Company believes the characteristics of its notes are not sufficiently similar to allow an evaluation of these notes as a group for a possible loan loss allowance. As such, all of the Company’s notes are evaluated individually for this purpose. Interest income on performing notes is accrued as earned. A note is placed on non-accrual status when, based upon current information and events, it is probable that the Company will not be able to collect all amounts due according to the existing contractual terms. Recognition of interest income on an accrual basis on non-performing notes is resumed when it is probable that the Company will be able to collect amounts due according to the contractual terms. Investments in and Advances to Unconsolidated Joint Ventures Some of the Company’s joint ventures obtain non-recourse third-party financing on their property investments, contractually limiting the Company’s exposure to losses. The Company recognizes income for distributions in excess of its investment where there is no recourse to the Company and no intention or obligation to contribute additional capital. For investments in which there is recourse to the Company or an obligation or intention to contribute additional capital exists, distributions in excess of the investment are recorded as a liability. When characterizing distributions from equity investees within the Company's consolidated statements of cash flows, all distributions received are first applied as returns on investment to the extent there are cumulative earnings related to the respective investment and are classified as cash inflows from operating activities. If cumulative distributions are in excess of cumulative earnings, distributions are considered return of investment. In such cases, the distribution is classified as cash inflows from investing activities. To the extent that the Company’s carrying basis in an unconsolidated affiliate is different from the basis reflected at the joint venture level, the basis difference is amortized over the life of the related assets and included in the Company’s share of equity in net income (loss) of investments in unconsolidated affiliates the joint venture. The Company periodically reviews its investments in unconsolidated joint ventures for other-than-temporary losses in investment value. Any decline that is not expected to be recovered based on the underlying assets of the investment, is considered other than temporary and an impairment charge is recorded as a reduction in the carrying value of the investment. During the periods presented there were no impairment charges related to the Company’s investments in unconsolidated joint ventures. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the limits insured by the Federal Deposit Insurance Corporation. Restricted Cash Restricted cash consists principally of cash held for real estate taxes, construction costs, property maintenance, insurance, minimum occupancy and property operating income requirements at specific properties as required by certain loan agreements. Deferred Costs External fees and costs paid in the successful negotiation of leases are deferred and amortized on a straight-line basis over the terms of the respective leases. External fees and costs incurred in connection with obtaining financing are deferred and amortized as a component of interest expense over the term of the related debt obligation on a straight-line basis, which approximates the effective interest method. Effective January 1, 2019, internal leasing costs are no longer being capitalized as discussed further below under ASU 2016-02. Derivative Instruments and Hedging Activities The Company measures derivative instruments at fair value and records them as assets or liabilities, depending on its rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Other comprehensive (loss) income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. Although the Company's derivative contracts are subject to master netting arrangements, which serve as credit mitigants to both the Company and its counterparties under certain situations, the Company does not net its derivative fair values or any existing rights or obligations to cash collateral on the consolidated balance sheets. The Company does not use derivatives for trading or speculative purposes. For the periods presented, all of the Company's derivatives qualified and were designated as cash flow hedges, and none of its derivatives were deemed ineffective. Noncontrolling Interests Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates. The Company identifies its noncontrolling interests separately within the equity section on the Company’s consolidated balance sheets. The amounts of consolidated net earnings attributable to the Company and to the noncontrolling interests are presented separately on the Company’s consolidated statements of income. Noncontrolling interests also include amounts related to common and preferred OP Units issued to unrelated third parties in connection with certain property acquisitions. In addition, the Company periodically issues common OP Units and LTIPs to certain employees of the Company under its share-based incentive program. Unit holders generally have the right to redeem their units for Common Shares subject to blackout and other limitations. Common and restricted OP Units are included in the caption Noncontrolling interest within the equity section on the Company’s consolidated balance sheets. Revenue Recognition and Accounts Receivable Effective January 1, 2019, and as further described below, the Company accounts for its leases under ASC 842. Pursuant to ASC 842, the Company has made an accounting policy election to not separate the non-lease components from its leases, such as common area maintenance, and has accounted for each of its leases as a single lease component. In addition, the Company has elected to account only for those taxes that it pays on behalf of the tenant as reimbursable costs and will not account for those taxes paid directly by the tenant. Minimum rents from tenants are recognized using the straight-line method over the non-cancelable lease term of the respective leases. Lease termination fees are recognized upon the effective termination of a tenant’s lease when the Company has no further obligations under the lease. As of December 31, 2019 and 2018, unbilled rents receivable relating to the straight-lining of rents of $48.4 million and $47.2 million, respectively, are included in Rents Receivable, net on the accompanying consolidated balance sheets. Certain of these leases also provide for percentage rents based upon the level of sales achieved by the tenant. Percentage rent is recognized in the period when the tenants’ sales breakpoint is met. In addition, leases typically provide for the reimbursement to the Company of real estate taxes, insurance and other property operating expenses. These reimbursements are recognized as revenue in the period the related expenses are incurred. The Company assesses the collectability of its accounts receivable related to tenant revenues. With the adoption of ASC Topic 842, the Company will first apply the guidance under ASC 842 in assessing its rents receivable: if collection of rents under specific operating leases is not probable, then the Company recognizes the lesser of that lease’s rental income on a straight-line basis or cash received, plus variable rents as earned. Once this initial assessment is completed, the Company applies a general reserve, as provided under ASC 450-20, if applicable. Rents receivable at December 31, 2019 and 2018 are shown net of an allowance for doubtful accounts of $11.4 million and $7.9 million, respectively. Stock-Based Compensation Stock-based compensation expense for all equity-classified stock-based compensation awards is based on the grant date fair value estimated in accordance with current accounting guidance for share-based payments. The Company recognizes these compensation costs for only those shares or units expected to vest on a straight-line or graded-vesting basis, as appropriate, over the requisite service period of the award. The Company includes stock-based compensation within general and administrative expense on the consolidated statements of income. Income Taxes The Company has made an election to be taxed, and believes it qualifies, as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”). To maintain REIT status for Federal income tax purposes, the Company is generally required to distribute at least 90% of its REIT taxable income to its shareholders as well as comply with certain other income, asset and organizational requirements as defined in the Code. Accordingly, the Company is generally not subject to Federal corporate income tax to the extent that it distributes 100% of its REIT taxable income each year. In connection with the REIT Modernization Act, the Company is permitted to participate in certain activities and still maintain its qualification as a REIT, so long as these activities are conducted in entities that elect to be treated as taxable subsidiaries under the Code. As such, the Company is subject to Federal and state income taxes on the income from these activities. The Act was enacted in December 2017 and is generally effective for tax years beginning in 2018. This new legislation did not have a material adverse effect on the Company’s business and allows non-corporate shareholders to deduct a portion of the Company’s dividends. Although it may qualify for REIT status for f ederal income tax purposes, the Company is subject to state or local income or franchise taxes in certain jurisdictions in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s TRS is fully subject to f ederal, state and local income taxes. The Company accounts for TRS income taxes under the liability method as required by ASC Topic 740, “Income Taxes.” Under the liability method, deferred income taxes are recognized for the temporary differences between the GAAP basis and tax basis of the TRS income, assets and liabilities. The Company records net deferred tax assets to the extent it believes it is more likely than not that these assets will be realized. In 2019, the Company recorded valuation allowances to reduce deferred tax assets when it determined that an uncertainty existed regarding their realization, which increased the provision for income taxes. In making such determination, the Company considered all available positive and negative evidence, including forecasts of future taxable income, the reversal of other existing temporary differences, available net operating loss carry-forwards, tax planning strategies and recent results of operations. Several of these considerations require assumptions and significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates that the Company is utilizing to manage its business. To the extent facts and circumstances change in the future, further adjustments to the valuation allowances may be required. Recently Adopted Accounting Pronouncements Lease Accounting In February 2016, the FASB issued ASU No. 2016-02 , Leases (Topic 842). Revenue from Contracts with Customers (Topic 606). To ease the transition, the new lease accounting guidance permits companies to utilize certain practical expedients in their implementation of the new standard: • 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 added a transition practical expedient to not reassess existing or expired land easement agreements not previously accounted for as leases; • ASU 2018-10, Codification Improvements to Topic 842, Leases . These amendments provide minor clarifications and corrections to ASU 2016-02 • 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 . This ASU modifies ASU No. 2016-02 to permit lessors, as an accounting policy election, not to evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, those lessors will account for those costs as if they are lessee costs. Consequently, a lessor making this election will exclude from the consideration in the contract and from variable payments not included in the consideration in the contract all collections from lessees of taxes within the scope of the election and will provide certain disclosures (includes sales, use, value added, and some excise taxes and excludes real estate taxes). ASU 2019-01, Leases (Topic 842), Codification Improvements . There are three codification updates to Topic 842 covered by this ASU: Issue 1 provides guidance on how to compute fair value of leased items for lessors who are non-dealers or manufacturers; Issue 2 relates to cash flow presentation for lessors of sales-type and direct financing leases; and Issue 3 clarifies that certain transition disclosures will only be required in annual disclosures. • 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 unless the entity elects the lessor practical expedient to not separate the non-lease components from the associated lease component as described above. The new guidance also includes a definition of initial direct costs that is narrower than the prior definition in former GAAP (Topic 840, Leases). Topic 842 was effective for the Company beginning January 1, 2019. 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 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 effective January 1, 2019: • 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

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2019
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Real Estate	2. Real Estate The Company’s consolidated real estate is comprised of the following for the periods presented (in thousands): December 31, 2019 December 31, 2018 Land $ 756,297 $ 710,469 Buildings and improvements 2,740,479 2,594,828 Tenant improvements 173,686 151,154 Construction in progress 13,617 44,092 Properties under capital lease ( Note 11 ) — 76,965 Right-of-use assets - finance leases ( Note 11 ) 102,055 — Right-of-use assets - operating leases ( Note 11 ), net 60,006 — Total 3,846,140 3,577,508 Less: Accumulated depreciation and amortization (490,227 ) (416,657 ) Operating real estate, net 3,355,913 3,160,851 Real estate under development, at cost 253,402 120,297 Net investments in real estate $ 3,609,315 $ 3,281,148 Acquisitions and Conversions During the years ended December 31, 2019 and 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 Acquisitions - 41, 45, 47, 51 and 53 Greene Street - New York, NY (a) 100% Mar 15, 2019 Mar 27, 2019 May 29, 2019 Jul 30, 2019 Nov 8, 2019 $ 87,006 849, 907 and 912 W. Armitage - Chicago, IL 100% Sep 11, 2019 Dec 11, 2019 10,738 8436-8452 Melrose Place - Los Angeles, CA 100% Oct 25, 2019 48,691 Subtotal Core 146,435 Fund V Palm Coast Landing - Palm Coast, FL 100% May 6, 2019 36,644 Lincoln Commons - Lincoln, RI 100% Jun 21, 2019 54,299 Landstown Commons - Virginia Beach, VA 100% Aug 2, 2019 86,961 Subtotal Fund V 177,904 Total 2019 Acquisitions $ 324,339 2018 Acquisitions and Conversions Core Bedford Green Land Parcel - Bedford Hills, NY 100% Mar 23, 2018 $ 1,337 Subtotal Core 1,337 Fund IV Broughton Street Partners I - Savannah, GA (Conversion) ( Note 4 ) 100% Oct 11, 2018 36,104 Subtotal Fund IV 36,104 Fund V Trussville Promenade - Trussville, AL 100% Feb 21, 2018 45,259 Elk Grove Commons - Elk Grove, CA 100% Jul 18, 2018 59,320 Hiram Pavilion - Hiram, GA 100% Oct 23, 2018 44,443 Subtotal Fund V 149,022 Total 2018 Acquisitions and Conversions $ 186,463 (a) The Soho Acquisitions are a collection of seven properties located in New York, NY with an aggregate purchase price of approximately $122.0 million under two separate contracts. One of the remaining properties was acquired in January 2020 ( Note 17 ). The acquisition of the remaining property is expected to be finalized during 2020. The 2019 Acquisitions and 2018 Acquisitions and Conversions were considered asset acquisitions based on accounting guidance effective as of January 1, 2018. For the years ended December 31, 2019 and 2018, the Company capitalized $2.6 million and $0.3 million of acquisition costs, respectively, of which $2.2 million related to the Core Portfolio and $0.4 million related to the Funds in 2019 and $0.3 million related to the Funds in 2018. No debt was assumed in any of the 2019 Acquisitions or 2018 Acquisitions or Conversions. Purchase Price Allocations The purchase prices for the 2019 Acquisitions and the 2018 Acquisitions and Conversions were allocated to the acquired assets and assumed liabilities based on their estimated fair values at the dates of acquisition. The following table summarizes the allocation of the purchase price of properties acquired during the years ended December 31, 2019 and 2018 (in thousands): Year Ended December 31, 2019 Year Ended December 31, 2018 Net Assets Acquired Land $ 78,263 $ 38,086 Buildings and improvements 221,185 129,586 Acquisition-related intangible assets ( Note 6 ) 34,972 26,693 Acquisition-related intangible liabilities ( Note 6 ) (10,081 ) (7,902 ) Net assets acquired $ 324,339 $ 186,463 Consideration Cash $ 319,673 $ 147,985 Liabilities assumed 4,666 2,597 Existing interest in previously unconsolidated investment — 35,881 Total consideration $ 324,339 $ 186,463 Dispositions During the years ended December 31, 2019 and 2018, the Company disposed of the following consolidated properties (in thousands): Property and Location Owner Date Sold Sale Price Gain (Loss) on Sale 2019 Dispositions 3104 M Street - Washington, DC ( Note 4 ) Fund III Jan 24, 2019 $ 10,500 $ 2,014 210 Bowery - 3 Residential Condos - New York, NY Fund IV May 17, 2019 Sep 23, 2019 Nov 7, 2019 8,826 (242 ) JFK Plaza - Waterville, ME Fund IV Jul 24, 2019 7,800 2,075 3780-3858 Nostrand Avenue - New York, NY Fund III Aug 22, 2019 27,650 2,562 938 W North Avenue - Chicago, IL Fund IV Sep 27, 2019 32,000 7,144 Pacesetter Park - Pomona, NY Core Oct 28, 2019 22,550 16,771 Total 2019 Dispositions $ 109,326 $ 30,324 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 The aggregate rental revenue, expenses and pre-tax income reported within continuing operations for the aforementioned consolidated properties that were sold during the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands): Year Ended December 31, 2019 2018 2017 Revenues $ 7,295 $ 11,633 $ 23,617 Expenses (6,403 ) (10,084 ) (31,651 ) Gain on disposition of properties 30,324 5,140 48,886 Net income attributable to noncontrolling interests (10,515 ) (4,742 ) (29,233 ) Net income attributable to Acadia $ 20,701 $ 1,947 $ 11,619 Real Estate Under Development and Construction in Progress Real estate under development represents the Company’s consolidated properties that have not yet been placed into service while undergoing substantial development or construction. Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands): December 31, 2018 Year Ended December 31, 2019 December 31, 2019 Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core 1 $ 7,759 $ 57,342 $ 5,581 $ 9,819 — $ 60,863 Fund II — 7,462 — 3,241 — — 10,703 Fund III 1 21,242 12,313 2,685 — 1 36,240 Fund IV 1 83,834 47,689 14,073 — 2 145,596 Total 3 $ 120,297 $ 117,344 $ 25,580 $ 9,819 3 $ 253,402 The number of properties in the table above refers to projects comprising the entire property; however, certain projects represent a portion of a property. During the year ended December 31, 2019, the Company placed the following projects into development: • a portion of City Center (Core) • a portion of Cortlandt Crossing (Fund III) • a portion of 110 University Place (Fund IV, Note 11 ) • its 146 Geary Street property (Fund IV) During the year ended December 31, 2019, the Company placed one Core development project, 56 E. Walton, into service. Fund II amounts relate to the City Point Phase III project. December 31, 2017 Year Ended 2018 December 31, 2018 Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core 2 $ 21,897 $ — $ 6,320 $ 20,458 1 $ 7,759 Fund II — 4,908 — 2,554 — — 7,462 Fund III 2 63,939 — 36,117 78,814 1 21,242 Fund IV 1 82,958 — 876 — 1 83,834 Total 5 $ 173,702 $ — $ 45,867 $ 99,272 3 $ 120,297 During the year ended December 31, 2018, the Company placed one Core development project into service and one Fund III 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 that are in service and continue to operate during the construction period.

Notes Receivable, Net

Notes Receivable, Net	12 Months Ended
	Dec. 31, 2019
Accounts And Notes Receivable Net [Abstract]
Notes Receivable, Net	3. 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): December 31, December 31, December 31, 2019 Description 2019 2018 Number Maturity Date Interest Rate Core Portfolio (a) $ 76,467 $ 58,637 5 Apr 2020 - Apr 2026 4.7% - 8.1% Fund II 33,170 32,582 1 Dec 2020 1.75% Fund III 5,306 5,306 1 Jul 2020 18.0% Fund IV — 15,250 — Feb 2021 15.3% $ 114,943 $ 111,775 7 (a) Includes two notes receivable from OP Unit holders, which are collateralized by their OP Units, with balances totaling $6.5 million at December 31, 2019 and $4.8 million at December 31, 2018. During the year ended December 31, 2019, the Company: • redeemed its $15.3 million Fund IV investment plus accrued interest of $10.0 million; • provided seller financing to the buyer in the amount of $13.5 million with an effective interest rate of 5.1%, collateralized by Pacesetter Park, in connection with the sale of the property ( Note 2 ); • funded an additional $4.3 million on a Core note receivable from an OP Unit holder; • increased the balance of a Fund II note receivable by the interest accrued of $0.4 million; • stopped accruing interest on one Fund III loan, due to the estimated market value of the collateral. The note had $4.7 million of accrued interest at each of December 31, 2018 and December 31, 2019 and was guaranteed by a third party; • extended the maturity for a Core note receivable to June 2, 2020; and • modified one Core loan to defer $0.4 million of interest until maturity. Subsequent to modification, the first mortgage, which aggregated $20.8 million including accrued interest, was in default as of December 31, 2019. The Company believes that the collateral is sufficient to cover the outstanding principal and interest. 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 ). See Note 17 for information about investments subsequent to December 31, 2019.

Investments in and Advances to

Investments in and Advances to Unconsolidated Affiliates	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Investments in and Advances to Unconsolidated Affiliates	4. Investments in and Advances to Unconsolidated Affiliates The Company accounts for its investments in and advances to unconsolidated affiliates primarily under the equity method of accounting as it has the ability to exercise significant influence, but does not have financial or operating control over the investment, which is maintained by each of the unaffiliated partners who co-invest with the Company. The Company’s investments in and advances to unconsolidated affiliates consist of the following (dollars in thousands): Ownership Interest December 31, December 31, Portfolio Property December 31, 2019 2019 2018 Core: 840 N. Michigan (a) 88.43% $ 61,260 $ 65,013 Renaissance Portfolio 20% 31,815 32,458 Gotham Plaza 49% 29,466 29,550 Town Center (a, b) 75.22% 97,674 99,758 Georgetown Portfolio 50% 4,498 4,653 1238 Wisconsin Avenue 80% 1,194 — 225,907 231,432 Mervyns I & II: KLA/Mervyn's, LLC (c) 10.5% — — Fund III: Fund III Other Portfolio 94.23% 17 21 Self Storage Management (d) 95% 207 206 224 227 Fund IV: Broughton Street Portfolio (e) 50% 12,702 3,236 Fund IV Other Portfolio 98.57% 14,733 14,540 650 Bald Hill Road 90% 12,450 12,880 39,885 30,656 Fund V: Family Center at Riverdale (a) 89.42% 13,329 — Tri-City Plaza 90% 10,250 — Frederick County Acquisitions 90% 15,070 — 38,649 — Various: Due to Related Parties (1,902 ) (461 ) Other (f) 2,334 556 Investments in and advances to unconsolidated affiliates $ 305,097 $ 262,410 Core: Crossroads (g) 49% $ 15,362 $ 15,623 Distributions in excess of income from, and investments in, unconsolidated affiliates $ 15,362 $ 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) Also referred to as “BSP II” as discussed further below. The Company is entitled to a 15% return on its cumulative capital contribution which was $5.9 million and $3.0 million at December 31, 2019 and 2018, respectively. In addition, the Company is entitled to a 9% preferred return on a portion of its equity, which was $9.4 million and $2.8 million at December 31, 2019 and 2018, respectively. (f) Includes cost-method investments in Albertson’s ( Note 8 ), Storage Post, Fifth Wall (discussed below) and other investments. ( g ) 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 2019 Acquisitions of Unconsolidated Investments 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 ) less the assumption of the outstanding mortgage of $4.7 million. On August 8, 2019, the Company invested $1.8 million in Fifth Wall Ventures Retail Fund, L.P. (“Fifth Wall”). During the fourth quarter 2019, the Company invested $0.1 million in Fifth Wall. Additionally, in November 2019, Fifth Wall distributed $0.2 million. The Company’s total commitment is $5.0 million. The Company accounts for its interest at cost less impairment given its ownership is less than five percent, the investment has no readily determinable fair value, and the Company has virtually no influence over the partnership’s operating and financial policies. At December 31, 2019, the Company’s investment was $1.7 million. On May 2, 2019, the Company acquired a ground lease interest at 1238 Wisconsin Avenue in Washington, D.C. (“1238 Wisconsin”). Prior to the fourth quarter of 2019, the Company had a controlling interest, and therefore consolidated the property within the Company’s financial statements. During December 2019, the Company entered into an operating agreement in order to admit a co-investor and property manager, who was also appointed the development manager under a separate agreement. As a result of these transactions and the significant participation rights of the co-investor, the Company de-consolidated 1238 Wisconsin and accounted for its interest under the equity method of accounting effective October 1, 2019 as it does not control but exercises significant influence over the investment. No gain or loss was recognized as the Company’s investment approximated fair value at the time of de-consolidation. Brandywine Portfolio, Market Square and Town Center The Company owns an interest in an approximately one 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 ) plus accrued interest of $0.3 million for one of the partner’s 38.89% tenancy-in-common interests in Market Square. The Company already had a 22.22% interest in Market Square and continued to apply the equity method of accounting for its aggregate 61.11% noncontrolling interest in Market Square and its 22.22% interest in Town Center through November 16, 2017. The incremental investment in Market Square was recorded at $16.3 million and the excess of this amount over the venture’s book value associated with this interest, or $9.8 million, was being amortized over the remaining depreciable lives of the venture’s assets through November 16, 2017. On November 16, 2017, the Company exchanged an additional $16.0 million of Brandywine Notes Receivable plus accrued interest of $0.6 million for the remaining 38.89% interest in Market Square, thereby obtaining a 100% controlling interest in the property. The exchange was deemed to be a business combination and as a result, the property was consolidated and a gain on change of control of $5.6 million was recorded. 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 December 31, 2019, $38.7 million of the Brandywine Note Receivable remains outstanding ( Note 3 ), which is collateralized by the remaining 24.78% undivided interest in Town Center. Fund Investments 2019 Acquisitions of Unconsolidated Investments On March 19, 2019, Fund V obtained a 99.35% interest in a joint venture which in turn obtained a 90% undivided interest in the property and invested in a 428,000 square-foot property located in Riverdale, Utah referred to as “Family Center at Riverdale” for $48.5 million. The property is held by the venture as a tenancy in common. 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. On April 30, 2019, Fund V acquired a 90% interest in a venture which invested in a 300,000 square-foot property located in Vernon, Connecticut referred to as “Tri-City Plaza” for $36.7 million. The Company accounts for its interest in Tri-City Plaza under the equity method of accounting as it does not control but exercises significant influence over the investment. On August 21, 2019, Fund V acquired a 90% interest in a venture which invested in a 225,000 square foot property and a 300,000 square foot property, both located in Frederick County, Maryland collectively referred to as the “Frederick County Acquisitions” for $21.8 million and $33.1 million, respectively. The Company accounts for its interest in the Frederick County Acquisitions under the equity method of accounting as it does not control but exercises significant influence over the investment. Storage Post On June 29, 2019, Fund III’s Storage Post venture, which is a cost-method investment with no carrying value, distributed $1.6 million of which the Operating Partnership’s share was $0.4 million. On May 15, 2018, Fund III’s Storage Post venture, distributed $3.2 million of which the Operating Partnership’s share was $0.8 million. 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, which held 11 consolidated properties ( Note 2 ), resulting in Fund IV becoming the 100% owner of the BSP I venture. 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 Fees from Unconsolidated Affiliates The Company earned property management, construction, development, legal and leasing fees from its investments in unconsolidated partnerships totaling $0.3 million and $0.5 million and $0.7 million for the years ended December 31, 2019, 2018 and 2017, 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, $1.3 million and $1.6 million and $1.9 million for the years ended December 31, 2019, 2018 and 2017, 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): December 31, 2019 December 31, 2018 Combined and Condensed Balance Sheets Assets: Rental property, net $ 656,265 $ 487,846 Real estate under development 1,341 — Other assets 85,540 89,890 Total assets $ 743,146 $ 577,736 Liabilities and partners’ equity: Mortgage notes payable $ 502,036 $ 408,967 Other liabilities 77,785 54,585 Partners’ equity 163,325 114,184 Total liabilities and partners’ equity $ 743,146 $ 577,736 Company's share of accumulated equity $ 186,864 $ 139,028 Basis differential 100,962 103,812 Deferred fees, net of portion related to the Company's interest 1,270 3,646 Amounts payable by the Company (1,902 ) (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 287,194 246,025 Cost method investments 2,541 762 Company's share of distributions in excess of income from and investments in unconsolidated affiliates 15,362 15,623 Investments in and advances to unconsolidated affiliates $ 305,097 $ 262,410 Year Ended December 31, 2019 2018 2017 Combined and Condensed Statements of Income Total revenues $ 88,585 $ 80,184 $ 83,222 Operating and other expenses (24,624 ) (23,586 ) (24,711 ) Interest expense (21,874 ) (19,954 ) (18,733 ) Depreciation and amortization (25,358 ) (22,228 ) (24,192 ) Loss on debt extinguishment — — (154 ) (Loss) gain on disposition of properties — (1,673 ) 18,957 Net income attributable to unconsolidated affiliates $ 16,729 $ 12,743 $ 34,389 Company’s share of equity in net income of unconsolidated affiliates $ 11,772 $ 12,345 $ 26,039 Basis differential amortization (2,850 ) (3,043 ) (2,668 ) Company’s equity in earnings of unconsolidated affiliates $ 8,922 $ 9,302 $ 23,371

Other Assets, Net and Accounts

Other Assets, Net and Accounts Payable and Other Liabilities	12 Months Ended
	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets, Net and Accounts Payable and Other Liabilities	5. 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) December 31, 2019 December 31, 2018 Other Assets, Net: Lease intangibles, net ( Note 6 ) $ 116,820 $ 115,939 Deferred charges, net (a) 28,746 28,619 Prepaid expenses 18,873 18,422 Other receivables 3,996 2,896 Accrued interest receivable 9,872 17,046 Due from seller 3,682 4,000 Deposits 1,853 4,611 Corporate assets, net 1,565 1,953 Income taxes receivable 1,755 2,070 Derivative financial instruments ( Note 8 ) 2,583 7,018 Deferred tax assets 913 2,032 Due from related parties — 1,802 $ 190,658 $ 206,408 (a) Deferred Charges, Net: Deferred leasing and other costs $ 49,081 $ 45,011 Deferred financing costs related to line of credit 10,051 8,960 59,132 53,971 Accumulated amortization (30,386 ) (25,352 ) Deferred charges, net $ 28,746 $ 28,619 Accounts Payable and Other Liabilities: Lease intangibles, net ( Note 6 ) $ 82,926 $ 95,045 Lease liability - finance leases, net ( Note 11 ) 77,657 — Accounts payable and accrued expenses 68,838 65,215 Lease liability - operating leases, net ( Note 11 ) 56,762 — Derivative financial instruments ( Note 8 ) 39,061 7,304 Deferred income 33,682 34,052 Tenant security deposits, escrow and other 12,590 10,588 Capital lease obligations ( Note 11 ) — 71,111 Other — 2,757 $ 371,516 $ 286,072

Lease Intangibles

Lease Intangibles	12 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Lease Intangibles	6. 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 ) on the consolidated balance sheet and summarized as follows (in thousands): December 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 $ 249,961 $ (137,108 ) $ 112,853 $ 216,021 $ (105,972 ) $ 110,049 Above-market rent 17,227 (13,260 ) 3,967 18,169 (12,279 ) 5,890 $ 267,188 $ (150,368 ) $ 116,820 $ 234,190 $ (118,251 ) $ 115,939 Amortizable Intangible Liabilities Below-market rent $ (160,721 ) $ 78,315 $ (82,406 ) $ (152,188 ) $ 57,721 $ (94,467 ) Above-market ground lease (671 ) 151 (520 ) (671 ) 93 (578 ) $ (161,392 ) $ 78,466 $ (82,926 ) $ (152,859 ) $ 57,814 $ (95,045 ) During the year ended December 31, 2019, the Company acquired in-place lease intangible assets of $36.1 million, above-market rents of $0.6 million, and below-market rents of $10.4 million with weighted-average useful lives of 7.9, 6.7, and 21.7 years, respectively. 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 December 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 2020 $ 7,177 $ (27,827 ) $ 58 $ (20,592 ) 2021 6,717 (21,053 ) 58 (14,278 ) 2022 6,196 (15,160 ) 58 (8,906 ) 2023 6,149 (11,578 ) 58 (5,371 ) 2024 5,706 (8,931 ) 58 (3,167 ) Thereafter 46,494 (28,304 ) 230 18,420 Total $ 78,439 $ (112,853 ) $ 520 $ (33,894 )

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	7. Debt A summary of the Company’s consolidated indebtedness is as follows (dollars in thousands): Interest Rate at Carrying Value at December 31, December 31, Maturity Date at December 31, December 31, 2019 2018 December 31, 2019 2019 2018 Mortgages Payable Core Fixed Rate 3.88%-6.00% 3.88%-6.00% Feb 2024 - Apr 2035 $ 176,176 $ 178,271 Core Variable Rate - Swapped (a) 3.41%-4.54% 3.41%-5.67% Jan 2023 - Nov 2028 81,559 82,583 Total Core Mortgages Payable 257,735 260,854 Fund II Fixed Rate 4.75% 1.00%-4.75% May 2020 200,000 205,262 Fund II Variable Rate LIBOR+3.00% — March 2022 24,225 — Fund II Variable Rate - Swapped (a) 2.88% 4.27% Nov 2021 19,073 19,325 Total Fund II Mortgages Payable 243,298 224,587 Fund III Variable Rate LIBOR+2.75%-LIBOR+3.10% Prime+0.50%-LIBOR+4.65% Jun 2020 - Jan 2021 74,554 90,096 Fund IV Fixed Rate 3.40%-4.50% 3.40%-4.50% Oct 2025 - Jun 2026 8,189 8,189 Fund IV Variable Rate LIBOR+1.60%-LIBOR+3.40% LIBOR+1.60%-LIBOR+3.95% Feb 2020 - Aug 2021 157,015 233,065 Fund IV Variable Rate - Swapped (a) 3.48%-4.61% 3.67%-4.23% Mar 2020 - Dec 2022 102,699 71,841 Total Fund IV Mortgages Payable 267,903 313,095 Fund V Variable Rate LIBOR+1.50%-LIBOR+2.20% LIBOR+2.25% Feb 2021 - Dec 2024 1,387 51,506 Fund V Variable Rate - Swapped (a) 2.95%-4.78% 4.61%-4.78% Feb 2021 - Dec 2024 334,626 86,570 Total Fund V Mortgage Payable 336,013 138,076 Net unamortized debt issuance costs (10,078 ) (10,173 ) Unamortized premium 651 753 Total Mortgages Payable $ 1,170,076 $ 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%-5.02% 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+2.00% LIBOR+1.65%-LIBOR+2.75% Dec 2020 - June 2021 87,625 40,825 Fund V Subscription Facility — LIBOR+1.60% May 2020 — 102,800 Net unamortized debt issuance costs (305 ) (368 ) Total Unsecured Notes Payable $ 477,320 $ 533,257 Unsecured Line of Credit Core Unsecured Line of Credit -Swapped (a) 2.49%-5.02% — Mar 2022 $ 60,800 $ — Total Debt - Fixed Rate (b)(c) $ 1,403,324 $ 1,001,658 Total Debt - Variable Rate (d) 314,604 558,675 Total Debt 1,717,928 1,560,333 Net unamortized debt issuance costs (10,383 ) (10,541 ) Unamortized premium 651 753 Total Indebtedness $ 1,708,196 $ 1,550,545 (a) At December 31, 2019, the stated rates ranged from LIBOR + 1.50% to LIBOR +1.90% LIBOR + 1.39% LIBOR + 2.75% to LIBOR + 3.10% LIBOR + 1.75% to LIBOR +2.25% LIBOR + 1.50% to LIBOR + 2.20% LIBOR + 1.25% (b) Includes $948.8 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 December 31, 2019 includes $70.2 million of Core swaps that may be used to hedge debt instruments of the Funds. (d) Includes $143.3 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% (inclusive of a 20 basis-point facility fee), and a $350.0 million senior unsecured term loan (the “Term Loan”) which bears interest at LIBOR + 1.25%. On October 8, 2019, the Company modified the Credit Facility, which provided for a $100.0 million increase in the Revolver. This amendment resulted in borrowing capacity of up to $600.0 million in principal amount, which includes a $250.0 million revolving credit facility maturing on March 31, 2022, subject to an extension option, and a $350.0 million Term Loan expiring on March 31, 2023. In addition, the amendment provides for revisions to the accordion feature, which allows for one or more increases in the revolving credit facility or term loan facility, for a maximum aggregate principal amount not to exceed $750.0 million. Mortgages Payable During the year ended December 31, 2019, the Company: • obtained one new Fund II construction loan, three new Fund IV mortgages and five new Fund V mortgages totaling $258.9 million with a weighted-average interest rate of LIBOR + 1.70% collateralized by nine properties and maturing in 2022 through 2024; • refinanced three mortgages with existing balances totaling $69.0 million at a weighted-average rate of LIBOR + 2.08% and maturities ranging from May 2019 to January 2021 with new mortgages totaling $71.8 million with a weighted-average rate of LIBOR + 1.86% and maturities ranging from April 2022 through December 2024 • transferred a Fund III mortgage with a balance of $4.7 million and an interest rate of Prime + 0.5% and assumed by the purchasing venture in a property sale ( Note 2 ). The Company repaid one Fund III loan in the amount of $9.8 million and two Fund IV loans in the aggregate amount of $18.4 million in connection with the sale of the properties. The Company also repaid a Fund IV loan in full, which had a balance of $38.2 million and an interest rate of LIBOR + 2.35%. The Company also made scheduled principal payments of $5.9 million; • modified three loans with prior borrowing capacity totaling $135.9 million at a weighted-average rate of LIBOR + 3.65% and maturities ranging from November 2019 through January 2020 by obtaining new commitments totaling $125.3 million with a weighted-average rate of LIBOR + 2.96% and maturities ranging from December 2020 through May 2021; and • Entered into interest rate swap contracts to effectively fix the variable portion of the interest rates of all nine new obligations and two of the refinanced obligations with a notional value of $283.6 million at a weighted-average interest rate of 1.78%. During the year ended December 31, 2018, the Company obtained four new Fund V mortgages totaling $109.5 million with a weighted-average interest rate of LIBOR + 1.99% collateralized by four properties and maturing in 2021. In addition, the Company obtained a $73.5 million Core mortgage with an interest rate of LIBOR + 1.50% collateralized by one property and maturing in 2028. As of December 31, 2018, the Company had drawn $50.0 million on this loan. The Company entered into interest rate swap contracts to effectively fix the variable portion of the interest rates of four of these obligations with a notional value of $136.6 million at an interest rate of 2.86%. In addition, the Company drew down $24.6 million on a Fund III construction loan. Also during 2018, the Company repaid one Core mortgage in full, which had a balance of $40.4 million and an interest rate of LIBOR + 1.65%, and three Fund IV mortgages in full, totaling $27.2 million with a weighted-average interest rate of LIBOR + 2.81%. The Company also made scheduled principal payments of $6.7 million during the year. At December 31, 2019 and 2018, the Company’s mortgages were collateralized by 44 and 43 properties, respectively, and the related tenant leases. Certain loans are cross-collateralized and contain cross-default provisions. The loan agreements contain customary representations, covenants and events of default. Certain loan agreements require the Company to comply with affirmative and negative covenants, including the maintenance of debt service coverage and leverage ratios. A portion of the Company’s variable-rate mortgage debt has been effectively fixed through certain cash flow hedge transactions ( Note 8 ). The mortgage loan collateralized by the property held by Brandywine Holdings in the Core Portfolio, was in default and subject to litigation at December 31, 2019 and 2018. This loan was originated in June 2006 and had an original principal amount of $26.3 million and a scheduled maturity of July 1, 2016. The loan bears interest at a stated rate of approximately 6.00% and is subject to additional default interest of 5%. In April 2017, the successor to the original lender, Wilmington – 5190 Brandywine Parkway, LLC (the “Successor Lender”), initiated lawsuits against Brandywine Holdings in Delaware Superior Court and Delaware Chancery Court for, among other things, judgment on the note (the “Note Complaint”) and foreclosure on the property. In a contemporaneously filed action in Delaware Superior Court (the “Guaranty Complaint”), the Successor Lender initiated a lawsuit against the Operating Partnership as guarantor of certain guaranteed obligations of Brandywine Holdings set forth in a non-recourse carve-out guaranty executed by the Operating Partnership. The Guaranty Complaint alleges that the Operating Partnership is liable for the full balance of the principal, accrued interest, default interest, as well as fees and costs, under the Brandywine Loan, which the Successor Lender alleges totaled approximately $ 33.0 million as of November 9, 2017 (exclusive of accru ing interest, default interest, and fees and costs). In August 2019, the Delaware Superior Court heard arguments on the parties’ cross-motions for summary judgement regarding both the Guaranty Complaint and the Note Complaint. On February 7, 2020, the Delaware Superior Court granted in part the Successor Lender’s motion, and denied Brandywine Holdings’ and the Operating Partnership’s cross-motion, for summary judgment, finding that each of Brandywine Holdings and the Operating Partnership have recourse liability for the outstanding balance of the Brandywine Loan. The Delaware Superior Court’s decision will be appealable when a judgement is formally entered. Brandywine Holdings and the Operating Partnership intend to appeal the ruling as soon as it becomes appealable and to vigorously contest it . During the third quarter of 2019, the company recognized income of $5.0 million related to Fund II’s New Market Tax Credit transaction (“NMTC”) involving its City Point project. NMTCs were created to encourage economic development in low income communities and provided for a 39% tax credit on certain qualifying invested equity/loans. In 2012, the NMTCs were transferred to a group of investors (“Investors”) in exchange for $5.2 million. The NMTCs were subject to recapture under various circumstances, including redemption of the loan/investment prior to a requisite seven-year hold period, and recognition of income was deferred. Upon the expiration of the seven-year Unsecured Notes Payable Unsecured notes payable for which total availability was $152.5 million and $54.8 million at December 31, 2019 and 2018, respectively, are comprised of the following: • The outstanding balance of the Core term loan was $350.0 • Fund II has a $40.0 million term loan secured by the real estate assets of City Point Phase II and guaranteed by the Company and the Operating Partnership. The outstanding balance of the Fund II term loan was $40.0 million at each of December 31, 2019 and 2018. Total availability was $0.0 at each of December 31, 2019 and 2018. • At Fund IV there are a $79.2 million bridge facility and a $15.0 million subscription line which were modified from their previous limits of $40.8 million and $27.0 million, respectively, during 2019. The outstanding balance of the Fund IV bridge facility was $79.2 million and $40.8 million at December 31, 2019 and 2018, respectively. Total availability was $0.0 • Fund V has a $150.0 million subscription line collateralized by Fund V’s unfunded capital commitments and guaranteed in part by the Operating Partnership. The outstanding balance and total available credit of the Fund V subscription line was $0.0 million and $150.0 million, respectively at December 31, 2019. The outstanding balance and total available credit of the Fund V subscription line was $102.8 million and $47.2 million, respectively at December 31, 2018. Unsecured Revolving Line of Credit The Company had a total of $173.6 million and $137.7 million, respectively, available under its $250.0 million Core Revolver, which was formerly a $150.0 million Revolver as previously discussed, reflecting borrowings of $60.8 and $0.0 million and letters of credit of $15.6 million and $12.3 million at December 31, 2019 and 2018. At each of December 31, 2019 and 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 December 31, 2019 are as follows (in thousands): Year Ending December 31, 2020 $ 437,329 2021 287,723 2022 167,514 2023 415,476 2024 211,991 Thereafter 197,895 1,717,928 Unamortized premium 651 Net unamortized debt issuance costs (10,383 ) Total indebtedness $ 1,708,196 See Note 4 for information about liabilities of the Company’s unconsolidated affiliates.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	8. 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, 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, and comprised of interest rate swaps and caps. The derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. See “Derivative Financial Instruments,” below. Derivative Liabilities — The Company has derivative liabilities, which are included in Accounts payable and other liabilities in the consolidated financial statements and 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 year ended December 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): December 31, 2019 December 31, 2018 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money market funds $ — $ — $ — $ 4,504 $ — $ — Derivative financial instruments — 2,583 — — 7,018 — Liabilities Derivative financial instruments — 39,061 — — 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) During 2018, the Company began selling the residential units of its 210 Bowery property in Fund IV. As the projected aggregate selling prices net of selling costs were in line with the carrying amount of the property through the first quarter 2019, no gain or loss had been recognized on the units sold through that date and no impairment was previously deemed necessary. During the second quarter 2019, the Company revised its estimate of the expected selling price of the remaining three units. Accordingly, the Company recognized a $1.4 million impairment charge, inclusive of an amount attributable to a noncontrolling interest of $1.1 million, to adjust the carrying value to the estimated selling price less estimated costs to sell. During the third quarter 2019, upon execution of a contract for sale ( Note 2 ) the Company recognized an additional $0.3 million impairment charge for the remaining condominium unit, inclusive of an amount attributable to a noncontrolling interest of $0.2 million, to adjust the carrying value to the estimated selling price less estimated costs to sell. The Company did not record any impairment charges during the year ended December 31, 2018. During the year ended December 31, 2017, the Company recognized an impairment charge of $3.8 million, inclusive of an amount attributable to a noncontrolling interest of $2.7 million, on a property classified as held for sale at September 30, 2017, in order to reduce the carrying value of the property to its estimated fair value. In addition, the Company recognized an impairment charge of $10.6 million, inclusive of an amount attributable to a noncontrolling interest of $7.6 million, on a property classified as held for sale at December 31, 2017 in order to reduce the carrying value of the property to its estimated fair value. This property was sold in April 2018. These fair value measurements approximated the estimated selling prices less estimated costs to sell. Derivative Financial Instruments The Company had the following interest rate swaps and caps for the periods presented (dollars in thousands): Strike Rate Fair Value Derivative Instrument Aggregate Notional Amount Effective Date Maturity Date Low High Balance Sheet Location December 31, 2019 December 31, 2018 Core Interest Rate Swaps $ 423,442 Dec 2012-July 2020 Mar 2022-July 2030 1.71 % — 3.77 % Other Liabilities (a) $ (33,750 ) $ (6,332 ) Interest Rate Swaps 139,118 Nov 2015 - July 2016 July 2020-June 2021 1.24 % — 1.31 % Other Assets 456 6,022 $ 562,560 $ (33,294 ) $ (310 ) Fund II Interest Rate Swap $ 19,073 Oct 2014 Nov 2021 2.88 % — 2.88 % Other Liabilities $ (139 ) $ — Interest Rate Swap — — — — — — Other Assets — 108 Interest Rate Cap 23,300 Mar 2019 Mar 2022 3.50 % — 3.50 % Other Assets 1 — $ 42,373 $ (138 ) $ 108 Fund III Interest Rate Cap $ 58,000 Dec 2016 Jan 2020 3.00 % — 3.00 % Other Assets $ — $ 8 Fund IV Interest Rate Swaps $ 14,395 Dec 2019 Apr 2022 - Dec 2022 1.48 % — 1.52 % Other Assets $ 22 $ 851 Interest Rate Swaps 88,304 Mar 2017 - May 2019 Mar 2020 - Dec 2022 1.82 % — 4.00 % Other Liabilities (812 ) — Interest Rate Caps 90,600 July 2019 - Dec 2019 Dec 2020 - July 2021 3.00 % — 3.50 % Other Assets — 8 $ 193,299 $ (790 ) $ 859 Fund V Interest Rate Swaps $ 177,726 Oct 2019 - Nov 2019 Oct 2022 - Oct 2024 1.25 % — 1.47 % Other Assets $ 2,104 $ 21 Interest Rate Swaps 156,900 Jan 2018-Mar 2019 Feb 2021-Mar 2024 2.27 % — 2.88 % Other Liabilities (4,360 ) (972 ) $ 334,626 $ (2,256 ) $ (951 ) Total asset derivatives $ 2,583 $ 7,018 Total liability derivatives $ (39,061 ) $ (7,304 ) (a) Includes two swaps with a total fair value of ($11.8) million and ($2.9) million at December 31, 2019 and 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 ). It is estimated that approximately $5.2 million included in accumulated other comprehensive (loss) income related to derivatives will be reclassified to interest expense within the next twelve months. As of December 31, 2019 and 2018, no derivatives were designated as fair value hedges or hedges of net investments in foreign operations. Additionally, the Company does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated hedges. 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. Credit Risk-Related Contingent Features The Company has agreements with each of its swap counterparties that contain a provision whereby if the Company defaults on certain of its unsecured indebtedness, the Company could also be declared in default on its swaps, resulting in an acceleration of payment under the swaps. Other Financial Instruments The Company’s other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands, inclusive of amounts attributable to noncontrolling interests where applicable): December 31, 2019 December 31, 2018 Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Notes Receivable (a) 3 $ 114,943 $ 113,422 $ 111,775 $ 109,532 Mortgage and Other Notes Payable (a) 3 1,179,503 1,191,281 1,026,708 1,021,075 Investment in non-traded equity securities (b) 3 1,778 57,964 — 56,337 Unsecured notes payable and Unsecured line of credit (c) 2 538,425 539,362 533,625 533,954 (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 Albertsons’ supermarkets and the Operating Partnership’s cost-method investment in Fifth Wall ( 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 December 31, 2019 and 2018 due to their short maturity profiles.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies The Company is involved in various matters of litigation arising out of, or incident to, its business, including the litigation described in Note 7 . While the Company is unable to predict with certainty the outcome of any particular matter, management does not expect, when such litigation is resolved, that the Company’s resulting exposure to loss contingencies, if any, will have a material adverse effect on its consolidated financial position. 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 $41.1 million and $55.5 million as of December 31, 2019 and 2018, respectively. At December 31, 2019 and 2018, the Company had letters of credit outstanding of $19.8 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	12 Months Ended
	Dec. 31, 2019
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income	10. Shareholders’ Equity, Noncontrolling Interests and Other Comprehensive Income Common Shares and Units In addition to the ATM Program activity discussed below, the Company completed the following transactions in its Common Shares during the year ended December 31, 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-based compensation totaling $8.8 million in connection with Restricted Shares and Units ( Note 13 ). In addition to the share repurchase activity discussed below, 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 equity issuance program (“ATM Program”) which provides the Company an efficient and low-cost vehicle for raising public equity to fund its capital needs. The Company entered into its current $250.0 million ATM Program (which replaced its prior program) in the second quarter of 2019 and also added an optional “forward purchase” component. The Company has not issued any shares on a forward basis during the year ended December 31, 2019. During the year ended December 31, 2019, the Company sold 5,164,055 Common Shares under its ATM Program for gross proceeds of $147.7 million, or $145.5 million net of issuance costs, at a weighted-average gross price per share of $28.61. 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 Common Shares for $55.1 million, inclusive of $0.1 million of fees, during the year ended December 31, 2018. During the year ended December 31, 2019 the Company made no repurchases under the share repurchase program, under which $145.0 million currently remains available. Dividends and Distributions The following table sets forth the dividends declared and/or paid during the years ended December 31, 2019 and 2018: Date Declared Amount Per Share Record Date Payment Date November 8, 2017 $ 0.27 December 29, 2017 January 13, 2018 February 27, 2018 $ 0.27 March 30, 2018 April 13, 2018 May 11, 2018 $ 0.27 June 29, 2018 July 13, 2018 August 7, 2018 $ 0.27 September 28, 2018 October 15, 2018 November 13, 2018 $ 0.28 December 31, 2018 January 15, 2019 February 28, 2019 $ 0.28 March 29, 2019 April 15, 2019 May 9, 2019 $ 0.28 June 28, 2019 July 15, 2019 August 13, 2019 $ 0.28 September 30, 2019 October 15, 2019 November 5, 2019 $ 0.29 December 31, 2019 January 15, 2020 Accumulated Other Comprehensive Income The following tables set forth the activity in accumulated other comprehensive income for the years ended December 31, 2019, 2018 and 2017 (in thousands): Gains or Losses on Derivative Instruments Balance at January 1, 2019 $ 516 Other comprehensive loss before reclassifications (35,674 ) Reclassification of realized interest on swap agreements (872 ) Net current period other comprehensive loss (36,546 ) Net current period other comprehensive loss attributable to noncontrolling interests 4,855 Balance at December 31, 2019 $ (31,175 ) Balance at January 1, 2018 $ 2,614 Other comprehensive loss before reclassifications (2,659 ) Reclassification of realized interest on swap agreements 71 Net current period other comprehensive loss (2,588 ) Net current period other comprehensive loss attributable to noncontrolling interests 490 Balance at December 31, 2018 $ 516 Balance at January 1, 2017 $ (798 ) Other comprehensive income before reclassifications 634 Reclassification of realized interest on swap agreements 3,317 Net current period other comprehensive income 3,951 Net current period other comprehensive income attributable to noncontrolling interests (539 ) Balance at December 31, 2017 $ 2,614 Noncontrolling Interests The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2019, 2018 and 2017 (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 $1.13 per Common OP Unit (7,124 ) — (7,124 ) Net income (loss) for the year ended December 31, 2019 3,836 (35,677 ) (31,841 ) Conversion of 307,663 Common OP Units to Common Shares by limited partners of the Operating Partnership (5,104 ) — (5,104 ) Other comprehensive loss - unrealized loss on valuation of swap agreements (1,899 ) (3,036 ) (4,935 ) Reclassification of realized interest expense on swap agreements (62 ) 142 80 Noncontrolling interest contributions — 161,628 161,628 Noncontrolling interest distributions — (94,289 ) (94,289 ) Employee Long-term Incentive Plan Unit Awards 10,411 — 10,411 Reallocation of noncontrolling interests (c) (6,611 ) — (6,611 ) Balance at December 31, 2019 $ 97,670 $ 546,987 $ 644,657 Balance at January 1, 2018 $ 102,921 $ 545,519 $ 648,440 Distributions declared of $1.09 per Common OP Unit (6,888 ) — (6,888 ) Net income (loss) for the year ended December 31, 2018 2,572 (49,709 ) (47,137 ) Conversion of 117,978 Common OP Units to Common Shares by limited partners of the Operating Partnership (2,068 ) — (2,068 ) Other comprehensive income - unrealized gain on valuation of swap agreements (129 ) (681 ) (810 ) Reclassification of realized interest expense on swap agreements (3 ) 323 320 Noncontrolling interest contributions — 47,560 47,560 Noncontrolling interest distributions — (24,793 ) (24,793 ) Employee Long-term Incentive Plan Unit Awards 12,374 — 12,374 Reallocation of noncontrolling interests (c) (4,556 ) — (4,556 ) Balance at December 31, 2018 $ 104,223 $ 518,219 $ 622,442 Balance at January 1, 2017 $ 95,422 $ 494,126 $ 589,548 Distributions declared of $1.05 per Common OP Unit (6,453 ) — (6,453 ) Net income (loss) for the year ended December 31, 2017 4,159 (1,321 ) 2,838 Conversion of 81,453 Common OP Units to Common Shares by limited partners of the Operating Partnership (1,541 ) — (1,541 ) Other comprehensive loss - unrealized loss on valuation of swap agreements 85 (232 ) (147 ) Reclassification of realized interest expense on swap agreements 141 545 686 Noncontrolling interest contributions — 85,206 85,206 Noncontrolling interest distributions — (32,805 ) (32,805 ) Employee Long-term Incentive Plan Unit Awards 10,457 — 10,457 Rebalancing adjustment (c) 651 — 651 Balance at December 31, 2017 $ 102,921 $ 545,519 $ 648,440 (a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,250,603, 3,329,640 and 3,328,873 Common OP Units at December 31, 2019, 2018 and 2017, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2019, 2018 and 2017; (iii) 136,593 Series C Preferred OP Units at December 31, 2019, 2018 and 2017; and (iv) 2,673,484, 2,569,044 and 2,274,147 LTIP units at December 31, 2019, 2018 and 2017, respectively, as discussed in Share Incentive Plan ( Note 13 (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. Preferred OP Units There were no issuances of Preferred OP Units during the year ended December 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 December 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 ). The Series C Preferred OP Units have a value of $100.00 per unit and are entitled to a preferred quarterly distribution of $0.9375 per unit and are convertible into Common OP Units at a rate based on the share price at the time of conversion. If the share price is below $28.80 on the conversion date, each Series C Preferred OP Unit will be convertible into 3.4722 Common OP Units. If the share price is between $28.80 and $35.20 on the conversion date, each Series C Preferred OP Unit will be convertible into a number of Common OP Units equal to $100.00 divided by the closing share price. If the share price is above $35.20 on the conversion date, each Series C Preferred OP Unit will be convertible into 2.8409 Common OP Units. The Series C Preferred OP Units have a mandatory conversion date of December 31, 2025, at which time all units that have not been converted will automatically be converted into Common OP Units based on the same calculations. Through December 31, 2019, 5,000 Series C Preferred OP Units were converted into 17,165 Common OP Units and then into Common Shares.

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	11. Leases Operating Leases As Lessor The Company implemented ASC Topic 842, Leases Note 1 ). As lessor, there were no accounting adjustments required, however, the presentation of the Company’s lease revenues in 2019 includes amounts previously reported as reimbursed expenses. There was no cumulative effect adjustment to retained earnings required upon adoption of the new standard. In addition, the Company began expensing internal leasing costs, which have historically been capitalized. 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 year ended December 31, 2019, the Company earned $56.4 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 During the year ended December 31, 2019, the Company: • recorded right-of-use assets and corresponding lease liabilities as lessee 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, upon implementation of ASC Topic 842; • recorded three new finance leases effective January 1, 2019 upon the implementation of ASC 842. An assessment of triggering events whereby the Company’s cumulative leasehold investment made it reasonably certain that the Company would exercise its purchase options; • entered into a prepaid master lease on December 9, 2019 comprised of an operating lease component related to the land and a finance lease component related to the building. The property is referred to as “565 Broadway” within the Core Portfolio. The Company recorded a Right-of-use-asset-operating-lease of $4.9 million and a Right-of-use-asset-finance lease of $19.4 million; and • entered into a ground lease on May 1, 2019 which is an operating lease. The property is referred to as “110 University Place” and is within the Fund IV portfolio. The Company recorded a Right of use asset–operating lease of $45.3 million and a corresponding Lease liability–operating-lease of $45.3 million. The Company recorded the following assets and liabilities in connection with acquisitions of leasehold interests: Year Ended December 31, 2019 Year Ended December 31, 2018 Amounts recorded upon acquisition of leasehold interests: (Not applicable) Right of use asset - operating lease $ 50,147 Right of use asset - finance lease 19,422 Leasehold improvements 13,354 Lease intangibles ( Note 6 ) 1,760 Lease liability - operating lease (45,293 ) Acquisition-related intangible liabilities ( Note 6 ) (359 ) Cash paid upon acquisition of leasehold interests $ 39,031 Additional disclosures regarding the Company’s leases as lessee are as follows: Year Ended December 31, 2019 2018 2017 Lease Cost (Not applicable) (Not applicable) Finance lease cost: Amortization of right-of-use assets $ 2,168 Interest on lease liabilities 3,737 Subtotal 5,905 Operating lease cost 4,430 Variable lease cost 164 Total lease cost $ 10,499 Other Information Weighted-average remaining lease term - finance leases (years) 42.5 Weighted-average remaining lease term - operating leases (years) 34.1 Weighted-average discount rate - finance leases 4.5 % Weighted-average discount rate - operating leases 5.8 % Right-of-use assets are included in Operating real estate ( Note 2 ) in the consolidated balance sheet. Lease liabilities are included in Accounts payable and other liabilities in the consolidated balance sheet ( Note 5 ). Operating lease cost comprises amortization of right-of-use assets for operating properties (related to ground rents) or amortization of right-of-use assets for office and corporate assets and is included in Property operating expense or General and administrative expense, respectively, in the consolidated statements of income. Finance lease cost comprises amortization of right-of-use assets for certain ground leases, which is included in Property operating expense, as well as interest on lease liabilities, which is included in Interest expense in the consolidated statements of income. 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 provided the Company with renewal options. Ground rent expense was $1.7 million and $1.4 million (including capitalized ground rent at a property under development of $0 and $0.1 million) for the years ended December 31, 2018 and 2017, respectively. 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 these leases was $1.0 million for each of the years ended December 31, 2018 and 2017, respectively. During 2016, the Company entered into a 49-year master lease, which was accounted for as a capital lease through December 31, 2018. During the years ended December 31, 2018 and 2017, payments for this lease totaled $2.5 million. 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 December 31, 2019, are summarized as follows (in thousands): Year Ending December 31, Minimum Rental Revenues Minimum Rental Payments (a) 2020 $ 212,871 $ 7,040 2021 203,077 6,823 2022 181,731 6,832 2023 160,237 6,825 2024 137,451 7,008 Thereafter 563,124 312,421 Total $ 1,458,491 $ 346,949 (a) Minimum rental payments include $219.0 million of interest related to leases. During the years ended December 31, 2019, 2018 and 2017, no single tenant or property collectively comprised more than 10% of the Company’s consolidated total revenues.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Reporting	12. 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 ). Fees earned by the Company as the general partner or managing member of the Funds are eliminated in the Company’s consolidated financial statements and are not presented in the Company’s segments. The following tables set forth certain segment information for the Company (in thousands): As of or for the Year Ended December 31, 2019 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 173,177 $ 122,150 $ — $ — $ 295,327 Depreciation and amortization (61,819 ) (63,624 ) — — (125,443 ) Property operating expenses, other operating and real estate taxes (47,032 ) (43,436 ) — — (90,468 ) General and administrative expenses — — — (35,416 ) (35,416 ) Impairment charge — (1,721 ) — — (1,721 ) Gain on disposition of properties 16,771 13,553 — — 30,324 Operating income 81,097 26,922 — (35,416 ) 72,603 Interest income — — 7,988 — 7,988 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 9,020 (98 ) — — 8,922 Interest expense (28,304 ) (45,484 ) — — (73,788 ) Other income 327 6,620 — — 6,947 Income tax provision — — — (1,468 ) (1,468 ) Net income (loss) 62,140 (12,040 ) 7,988 (36,884 ) 21,204 Net loss attributable to noncontrolling interests 337 31,504 — — 31,841 Net income attributable to Acadia (a) $ 62,477 $ 19,464 $ 7,988 $ (36,884 ) $ 53,045 Real estate at cost (b) $ 2,264,010 $ 1,835,532 $ — $ — $ 4,099,542 Total Assets (b) $ 2,350,833 $ 1,843,338 $ 114,943 $ — $ 4,309,114 Cash paid for acquisition of real estate and leasehold interest $ 173,892 $ 184,812 $ — $ — $ 358,704 Cash paid for development and property improvement costs $ 22,724 $ 66,546 $ — $ — $ 89,270 As of or for the Year Ended December 31, 2018 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 166,816 $ 92,865 $ — $ — $ 259,681 Depreciation and amortization (60,903 ) (56,646 ) — — (117,549 ) Property operating expenses, other operating and real estate taxes (44,060 ) (36,188 ) — — (80,248 ) General and administrative expenses — — — (34,343 ) (34,343 ) Gain on disposition of properties — 5,140 — — 5,140 Operating income 61,853 5,171 - (34,343 ) 32,681 Interest income — — 13,231 — 13,231 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 7,415 1,887 — — 9,302 Interest expense (27,575 ) (42,403 ) — — (69,978 ) Income tax provision — — — (934 ) (934 ) Net income (loss) 41,693 (35,345 ) 13,231 (35,277 ) (15,698 ) Net income attributable to noncontrolling interests 752 46,385 — — 47,137 Net income attributable to Acadia (a) $ 42,445 $ 11,040 $ 13,231 $ (35,277 ) $ 31,439 Real estate at cost (b) $ 2,069,439 $ 1,628,366 $ — $ — $ 3,697,805 Total Assets (b) $ 2,232,695 $ 1,616,472 $ 109,613 $ — $ 3,958,780 Cash paid for acquisition of real estate $ 1,343 $ 146,642 $ — $ — $ 147,985 Cash paid for development and property improvement costs $ 32,662 $ 62,172 $ — $ — $ 94,834 As of or for the Year Ended December 31, 2017 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 168,795 $ 79,757 $ — $ — $ 248,552 Depreciation and amortization (61,705 ) (43,229 ) — — (104,934 ) Property operating expenses, other operating and real estate taxes (44,169 ) (33,919 ) — — (78,088 ) General and administrative expenses — — — (33,756 ) (33,756 ) Impairment charge — (14,455 ) — — (14,455 ) Gain on disposition of properties — 48,886 — — 48,886 Operating income 62,921 37,040 — (33,756 ) 66,205 Interest income — — 29,143 — 29,143 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 3,735 19,636 — — 23,371 Interest expense (28,618 ) (30,360 ) — — (58,978 ) Other income 5,571 — — — 5,571 Income tax provision — — — (1,004 ) (1,004 ) Net income 43,609 26,316 29,143 (34,760 ) 64,308 Net income attributable to noncontrolling interests (1,107 ) (1,731 ) — — (2,838 ) Net income attributable to Acadia (a) $ 42,502 $ 24,585 $ 29,143 $ (34,760 ) $ 61,470 Cash paid for acquisition of real estate $ — $ 200,429 $ — $ — $ 200,429 Cash paid for development and property improvement costs $ 42,026 $ 66,116 $ — $ — $ 108,142 (a) Net income attributable to Acadia for the Core segment includes $4.7 million, $4.1 million and $0.9 million associated with one property, Town Center, for the years ended December 31, 2019, 2018 and 2017, respectively. These amounts include the results of three entities, including the unconsolidated Town Center venture and the consolidated Brandywine Holdings ( Note 4 ) and Brandywine Maintenance Corp., which on a combined basis constitute the operating results of the shopping center. (b) Real estate at cost and total assets for the Funds segment include $603.3 million and $576.1 million, or $174.7 million and $167.2 million net of non-controlling interests, related to Fund II’s City Point property for the years ended December 31, 2019 and 2018, respectively.

Share Incentive and Other Compe

Share Incentive and Other Compensation	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share Incentive and Other Compensation	13. 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 December 31, 2019 a total of 708,632 shares remained available to be issued under the Share Incentive Plan. Restricted Shares and LTIP Units During the year ended December 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. Certain of these equity awards were granted in performance-based Restricted Share Units or LTIP Units with market conditions as described below (“2019 Performance Shares”). These awards were measured at their fair value on the grant date, incorporating the following factors: • A portion of these annual equity awards is granted in performance-based Restricted Share Units or LTIP Units that may be earned based on the Company’s attainment of specified relative total shareholder returns (“Relative TSR”) hurdles. • In the event the Relative TSR percentile falls between the 25th percentile and the 50th percentile, the Relative TSR vesting percentage is determined using a straight-line linear interpolation between 50% and 100% and in the event that the Relative TSR percentile falls between the 50th percentile and 75th percentile, the Relative TSR vesting percentage is determined using a straight-line linear interpolation between 100% and 200%. • Two-thirds ( 2/3 three -year 1/3 three-year • If the Company’s performance fails to achieve the aforementioned hurdles at the culmination of the three-year 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 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 $8.8 million the year ended December 31, 2019 and $8.4 million for each of the years ended December 31, 2018, and 2017 and is recorded in General and Administrative in the Consolidated Statements of Income. During the quarter ended December 31, 2018, in connection with the retirement of an executive, an additional 26,632 LTIP Units were issued. The value of these LTIP Units was $0.6 million and was recognized as compensation expense in 2018. Also, in connection with this retirement, the Company recognized $1.7 million as compensation expense relating to the acceleration of previously granted LTIP Units. In addition, members of the Board of Trustees have been issued shares and units under the Share Incentive Plan. During 2019, the Company issued 18,009 LTIP Units and 17,318 Restricted Shares to Trustees of the Company in connection with Trustee fees. Vesting with respect to 6,463 of the LTIP Units and 3,996 of the Restricted Shares will be on the first anniversary of the date of issuance and 11,546 of the LTIP Units and 13,322 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 $1.4 million and $1.3 million for the years ended December 31, 2019 and 2018, respectively. In 2009, the Company adopted the Long-Term Investment Alignment Program (the “Program”) pursuant to which the Company may grant awards to employees, entitling them to receive up to 25% of any potential future payments of Promote to the Operating Partnership from Funds III, IV and V. The Company has granted such awards to employees representing 25% of the potential Promote payments from Fund III to the Operating Partnership and 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. C ompensation expense of $0, $0 and $0.6 million was recognized for the years ended December 31, 2019, 2018, and 2017, related to the Program in connection with Funds III, IV and 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, 2017 46,499 $ 27.58 856,877 $ 26.99 Granted 19,442 29.85 310,551 31.80 Vested (23,430 ) 30.47 (257,124 ) 28.27 Forfeited (1,184 ) 32.65 (205 ) 32.49 Unvested at December 31, 2017 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 25,359 28.56 348,726 32.78 Vested (21,424 ) 27.12 (290,753 ) 29.30 Forfeited — — (15,679 ) 31.49 Unvested at December 31, 2019 42,390 $ 23.73 934,180 $ 28.24 The weighted-average grant date fair value for Restricted Shares and LTIP Units granted for the years ended December 31, 2019 and 2018 were $32.50 and $26.64, respectively. As of December 31, 2019, there was $14.6 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Share Incentive Plan. That cost is expected to be recognized over a weighted-average period of 1.5 years. The total fair value of Restricted Shares that vested for the years ended December 31, 2019 and 2018, was $0.6 million and $0.8 million, respectively. The total fair value of LTIP Units that vested (LTIP units vest primarily in the first quarter) during the years ended December 31, 2019 and 2018, was $8.5 million and $12.8 million, respectively. Other Plans On a combined basis, the Company incurred a total of $0.3 million, $0.3 million and $0.2 million related to the following employee benefit plans for each of the years ended December 31, 2019, 2018 and 2017, respectively: Employee Share Purchase Plan The Acadia Realty Trust Employee Share Purchase Plan (the “Purchase Plan”), allows eligible employees of the Company to purchase Common Shares through payroll deductions. The Purchase Plan provides for employees to purchase Common Shares on a quarterly basis at a 15% discount to the closing price of the Company’s Common Shares on either the first day or the last day of the quarter, whichever is lower. A participant may not purchase more 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 2,320 and 3,495 Common Shares were purchased by employees under the Purchase Plan for the year ended December 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 ended December 31, 2019.

Federal Income Taxes

Federal Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal Income Taxes	14. Federal Income Taxes The Company has elected to qualify as a REIT in accordance with Sections 856 through 860 of the Code, and intends at all times to qualify as a REIT under the Code. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute at least 90% of its annual REIT taxable income to its shareholders. As a REIT, the Company generally will not be subject to corporate Federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under the Code. As the Company distributed sufficient taxable income for the years ended December 31, 2019, 2018 and 2017, no U.S. Federal income or excise taxes were incurred. If the Company fails to qualify as a REIT in any taxable year, it will be subject to Federal income taxes at the regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for the four subsequent taxable years. Even though the Company qualifies for taxation as a REIT, the Company is subject to certain state and local taxes on its income and property and Federal income and excise taxes on any undistributed taxable income. In addition, taxable income from non-REIT activities managed through the Company’s TRS’s is subject to Federal, state and local income taxes. No more than 20% of the value of our total assets may consist of the securities of one or more TRS. In the normal course of business, the Company or one or more of its subsidiaries is subject to examination by Federal, state and local jurisdictions, in which it operates, where applicable. The Company expects to recognize interest and penalties related to uncertain tax positions, if any, as income tax expense. For the three years ended December 31, 2019, the Company recognized no material adjustments regarding its tax accounting treatment for uncertain tax provisions. As of December 31, 2019, the tax years that remain subject to examination by the major tax jurisdictions under applicable statutes of limitations are generally the year 2016 and forward. Reconciliation of Net Income to Taxable Income Reconciliation of GAAP net income attributable to Acadia to taxable income is as follows: Year Ended December 31, (in thousands) 2019 2018 2017 Net income attributable to Acadia $ 53,045 $ 31,439 $ 61,470 Deferred cancellation of indebtedness income — 2,050 2,050 Deferred rental and other income (a) 1,203 1,222 (934 ) Book/tax difference - depreciation and amortization (a) 21,688 23,166 21,334 Straight-line rent and above- and below-market rent adjustments (a) (10,949 ) (12,129 ) (10,559 ) Book/tax differences - equity-based compensation 7,177 6,042 5,325 Joint venture equity in earnings, net (a) 15,571 13,905 9,114 Acquisition costs (a) 63 326 1,135 Gain (loss) on disposition of properties 2,375 — (5,181 ) Book/tax differences - miscellaneous (1,473 ) (2,821 ) 930 Taxable income $ 88,700 $ 63,200 $ 84,684 Distributions declared $ 96,310 $ 89,122 $ 87,848 (a) Adjustments from certain subsidiaries and affiliates, which are consolidated for financial reporting but not for tax reporting, are included in the reconciliation item “Joint venture equity in earnings, net.” Characterization of Distributions The Company has determined that the cash distributed to the shareholders for the periods presented is characterized as follows for Federal income tax purposes: Year Ended December 31, 2019 2018 2017 Per Share % Per Share % Per Share % Ordinary income - Non-Section 199A $ — — % — — % $ 0.820 78 % Ordinary income - Section 199A 0.820 77 % 0.870 100 % — — % Qualified dividend — — % — — % — — % Capital gain 0.240 23 % — — % 0.230 22 % Total (b) $ 1.060 100 % 0.870 100 % $ 1.050 100 % (b) The fourth quarter 2019 regular dividend was $0.29 per common share, all of which is allocable to 2020. The fourth quarter 2018 regular dividend was $0.28 per common share of which approximately $0.06 was allocable to 2018 and approximately $0.22 is allocable to 2019. Taxable REIT Subsidiaries Income taxes have been provided for using the liability method as required by ASC Topic 740, “Income Taxes.” The Company’s TRS income and provision for income taxes associated with the TRS for the periods presented are summarized as follows (in thousands): Year Ended December 31, 2019 2018 2017 TRS loss before income taxes $ (3,117 ) $ (2,609 ) $ (3,604 ) (Provision) benefit for income taxes: Federal 754 (377 ) (982 ) State and local 317 26 423 TRS net loss before noncontrolling interests (2,046 ) (2,960 ) (4,163 ) Noncontrolling interests (369 ) 4 8 TRS net loss $ (2,415 ) $ (2,956 ) $ (4,155 ) The income tax provision for the Company differs from the amount computed by applying the statutory Federal income tax rate to income before income taxes as follows. Amounts are not adjusted for temporary book/tax differences (in thousands): Year Ended December 31, 2019 2018 2017 Federal tax benefit at statutory tax rate $ (655 ) $ (548 ) $ (1,225 ) TRS state and local taxes, net of Federal benefit (197 ) (165 ) (190 ) Tax effect of: Permanent differences, net 239 951 1,131 Prior year over-accrual, net — — (1,541 ) Effect of Tax Cuts and Jobs Act — — 1,982 Adjustment to deferred tax reserve 1,748 (1,530 ) — Other (112 ) 1,702 404 REIT state and local income and franchise taxes 445 524 443 Total provision (benefit) for income taxes $ 1,468 $ 934 $ 1,004 As of December 31, 2019, and 2018, the Company’s deferred tax assets were $0.9 million and $2.0 million net of applicable reserves of $1.7 million and $0, respectively and were comprised of capital loss carryovers of $0.1 and $0.1 million and net operating loss carryovers of $2.5 million and $1.9 million, respectively. Under GAAP a reduction of the carrying amounts of deferred tax assets by a valuation allowance is required, if, based on the evidence available, it is more likely than not (a likelihood of more than 50 percent) that some portion or all of the deferred tax assets will not be realized. The valuation allowance should be sufficient to reduce the deferred tax asset to the amount that is more likely than not to be realized. During 2019, the Company determined that the realization of its deferred tax assets was not likely and as such, the Company recorded a valuation allowance against its deferred tax assets.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	15 . Earnings P er 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 ). During the periods presented, the Company had unvested LTIP Units which provide for non-forfeitable rights to dividend equivalent payments. Accordingly, these unvested LTIP Units are considered participating securities and are included in the computation of basic earnings per Common Share pursuant to the two-class method. Diluted earnings per Common Share reflects the potential dilution of the conversion of obligations and the assumed exercises of securities including the effects of restricted share units (“Restricted Share Units”) issued under the Company’s Share Incentive Plans ( Note 13 ). The effect of such shares is excluded from the calculation of earnings per share when anti-dilutive as indicated in the table below. The effect of the conversion of Common OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Common Shares on a one-for-one basis. The income allocable to such units is allocated on this same basis and reflected as noncontrolling interests in the accompanying consolidated financial statements. As such, the assumed conversion of these units would have no net impact on the determination of diluted earnings per share. Year Ended December 31, (dollars in thousands) 2019 2018 2017 Numerator: Net income attributable to Acadia $ 53,045 $ 31,439 $ 61,470 Less: net income attributable to participating securities (413 ) (267 ) (642 ) Income from continuing operations net of income attributable to participating securities $ 52,632 $ 31,172 $ 60,828 Denominator: Weighted average shares for basic earnings per share 84,435,826 82,080,159 83,682,789 Effect of dilutive securities: Employee unvested restricted shares — — 2,682 Denominator for diluted earnings per share 84,435,826 82,080,159 83,685,471 Basic and diluted earnings per Common Share from continuing operations attributable to Acadia $ 0.62 $ 0.38 $ 0.73 Anti-Dilutive Shares Excluded from Denominator: Series A Preferred OP Units 188 188 188 Series A Preferred OP Units - Common share equivalent 25,067 25,067 25,067 Series C Preferred OP Units 136,593 136,593 136,593 Series C Preferred OP Units - Common share equivalent 474,278 474,278 479,978 Restricted shares 40,821 36,879 41,299

Summary of Quarterly Financial

Summary of Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Information (Unaudited)	16. Summary of Quarterly Financial Information (Unaudited) The quarterly results of operations of the Company for the years ended December 31, 2019 and 2018 are as follows (in thousands, except per share amounts): Three Months Ended (a, b, c, d, e) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Revenues $ 73,985 $ 70,229 $ 73,327 $ 77,786 Net income (loss) 2,936 (5,237 ) 8,840 14,665 Net loss attributable to noncontrolling interests 9,261 14,317 1,618 6,645 Net income attributable to Acadia 12,197 9,080 10,458 21,310 Earnings per share attributable to Acadia: Basic $ 0.15 $ 0.11 $ 0.12 $ 0.24 Diluted 0.15 0.11 0.12 0.24 Weighted average number of shares: Basic 82,037 83,704 84,888 87,058 Diluted 82,037 83,704 84,888 87,058 Cash dividends declared per Common Share $ 0.28 $ 0.28 $ 0.28 $ 0.29 (a) The quarter ended June 30, 2019 includes an impairment charge of $1.4 million and the quarter ended September 30, 2019 includes an impairment charge of $0.3 million, of which the Company’s aggregate share was $0.4 million ( Note 8 (b) The quarter ended September 30, 2019 includes an aggregate gain on disposition of two consolidated properties and one condominium unit at Fund IV and one consolidated property at Fund III of $12.1 million, of which the Company’s share was $2.8 million ( Note 2 ). (c) The quarter ended December 31, 2019 includes a net gain on disposition of a consolidated Core property of $16.3 million, of which the Company’s share was $16.7 million ( Note 2 ). (d) The quarter ended September 30, 2019 includes a deferred gain on tax credits at Fund II of which the Company’s share was $1.4 million ( Note 7 (e) Revenues for the quarters ended March 31, 2019 and June 30, 2019 have each been revised to reflect the reclassifications of credit losses of $0.8 million ( Note 1 Three Months Ended (a, b) March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Revenues $ 62,226 $ 62,201 $ 65,527 $ 69,727 Net income (4,160 ) (2,270 ) (2,597 ) (6,671 ) Net (income) loss attributable to noncontrolling interests 11,579 9,935 11,822 13,801 Net income attributable to Acadia 7,419 7,665 9,225 7,130 Earnings per share attributable to Acadia: Basic Diluted $ 0.09 $ 0.09 $ 0.11 $ 0.09 0.09 0.09 0.11 0.09 Weighted average number of shares: Basic 83,434 81,756 81,566 81,591 Diluted 83,438 81,756 81,566 81,591 Cash dividends declared per Common Share $ 0.27 $ 0.27 $ 0.27 $ 0.28 (a) Credit losses aggregating $2.5 million have been reclassified from property operating expense to revenues in each of the quarters in the year ended December 31, 2018 to conform to the current period presentation ( Note 1 ). (b) The three months ended September 30, 2018 includes an aggregate $5.1 million gain on the sales of two consolidated Fund IV properties ( Note 2 ), of which $3.9 million was attributable to noncontrolling interests

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events Acquisitions In January 2020, the Company acquired two properties in its Core Portfolio as follows: • 37 Greene Street – On January 9, the Company acquired a retail condominium in the Soho section of New York City for approximately $15.4 million. • 917 West Armitage Avenue – On February 13, the Company acquired a mixed-use property in Chicago Illinois for approximately $3.5 million. It is not practicable to disclose the preliminary purchase price allocations for these transactions given the short period of time between the acquisition date and the filing of this Report. Structured Financing Transactions On January 17, 2020 the Company made a preferred equity investment in the amount of $54.0 million collateralized by the interests in a property in Sunset Park, Brooklyn, NY. On February 7, 2020 the Company made a mezzanine loan in the amount of $5.0 million to a joint venture partner collateralized by the venture partner’s interest in the Georgetown Portfolio ( Note 4 ) venture

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2019
Valuation And Qualifying Accounts [Abstract]
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS	Balance at Beginning of Year Charged to Expenses Adjustments to Valuation Accounts Deductions Balance at End of Year Year Ended December 31, 2019: Allowance for deferred tax asset $ — $ — $ 1,748 $ — $ 1,748 Allowance for uncollectible accounts 7,921 4,402 (915 ) — 11,408 Allowance for notes receivable — — — — — Year Ended December 31, 2018: Allowance for deferred tax asset $ 1,530 $ — $ (1,530 ) — $ — Allowance for uncollectible accounts 5,920 2,532 (531 ) — 7,921 Allowance for notes receivable — — — — — Year Ended December 31, 2017: Allowance for deferred tax asset $ 859 $ — $ 671 $ — $ 1,530 Allowance for uncollectible accounts 5,720 200 — — 5,920 Allowance for notes receivable — — — — —

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2019
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	ACADIA REALTY TRUST SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2019 Initial Cost to Company Amount at Which Carried at December 31, 2019 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Income is Compared Core Portfolio: Crescent Plaza Brockton, MA — 1,147 7,425 3,301 1,147 10,726 11,873 8,455 1993 (a) 40 years New Loudon Center Latham, NY — 505 4,161 14,119 505 18,280 18,785 15,352 1993 (a) 40 years Mark Plaza Edwardsville, PA — — 3,396 — — 3,396 3,396 3,028 1993 (c) 40 years Plaza 422 Lebanon, PA — 190 3,004 2,809 190 5,813 6,003 5,262 1993 (c) 40 years Route 6 Mall Honesdale, PA — 1,664 — 12,490 1,664 12,490 14,154 10,235 1994 (c) 40 years Abington Towne Center Abington, PA — 799 3,197 3,872 799 7,069 7,868 4,222 1998 (a) 40 years Bloomfield Town Square Bloomfield Hills, MI — 3,207 13,774 25,803 3,207 39,577 42,784 24,739 1998 (a) 40 years Elmwood Park Shopping Center Elmwood Park, NJ — 3,248 12,992 16,314 3,798 28,756 32,554 20,402 1998 (a) 40 years Merrillville Plaza Hobart, IN — 4,288 17,152 6,058 4,288 23,210 27,498 13,910 1998 (a) 40 years Marketplace of Absecon Absecon, NJ — 2,573 10,294 5,072 2,577 15,362 17,939 9,096 1998 (a) 40 years 239 Greenwich Avenue Greenwich, CT 26,572 1,817 15,846 1,086 1,817 16,932 18,749 8,738 1998 (a) 40 years Hobson West Plaza Naperville, IL — 1,793 7,172 4,604 1,793 11,776 13,569 5,871 1998 (a) 40 years Village Commons Shopping Center Smithtown, NY — 3,229 12,917 5,228 3,229 18,145 21,374 10,479 1998 (a) 40 years Town Line Plaza Rocky Hill, CT — 878 3,510 7,736 907 11,217 12,124 9,348 1998 (a) 40 years Branch Shopping Center Smithtown, NY — 3,156 12,545 16,414 3,401 28,714 32,115 14,322 1998 (a) 40 years Methuen Shopping Center Methuen, MA — 956 3,826 1,695 961 5,516 6,477 2,866 1998 (a) 40 years The Gateway Shopping Center South Burlington, VT — 1,273 5,091 12,471 1,273 17,562 18,835 10,712 1999 (a) 40 years Mad River Station Dayton, OH — 2,350 9,404 2,251 2,350 11,655 14,005 6,310 1999 (a) 40 years Brandywine Holdings Wilmington, DE 26,250 5,063 15,252 2,495 5,201 17,609 22,810 7,601 2003 (a) 40 years Bartow Avenue Bronx, NY — 1,691 5,803 1,196 1,691 6,999 8,690 3,458 2005 (c) 40 years Amboy Road Staten Island, NY — — 11,909 3,175 — 15,084 15,084 8,094 2005 (a) 40 years Chestnut Hill Philadelphia, PA — 8,289 5,691 4,509 8,289 10,200 18,489 4,910 2006 (a) 40 years 2914 Third Avenue Bronx, NY — 11,108 8,038 5,175 11,855 12,466 24,321 3,420 2006 (a) 40 years West Shore Expressway Staten Island, NY — 3,380 13,499 28 3,380 13,527 16,907 4,878 2007 (a) 40 years West 54th Street Manhattan, NY — 16,699 18,704 1,264 16,699 19,968 36,667 6,730 2007 (a) 40 years 5-7 East 17th Street Manhattan, NY — 3,048 7,281 6,133 3,048 13,414 16,462 3,386 2008 (a) 40 years 651-671 W Diversey Chicago, IL — 8,576 17,256 8 8,576 17,264 25,840 3,704 2011 (a) 40 years 15 Mercer Street Manhattan, NY — 1,887 2,483 1 1,887 2,484 4,371 528 2011 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2019 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Income is Compared 4401 White Plains Bronx, NY — 1,581 5,054 — 1,581 5,054 6,635 1,053 2011 (a) 40 years 56 E. Walton Chicago, IL — 994 6,126 2,558 994 8,684 9,678 177 2011 (a) 40 years 841 W. Armitage Chicago, IL — 728 1,989 422 728 2,411 3,139 517 2011 (a) 40 years 2731 N. Clark Chicago, IL — 557 1,839 32 557 1,871 2,428 402 2011 (a) 40 years 2140 N. Clybourn Chicago, IL — 306 788 — 306 788 1,094 168 2011 (a) 40 years 853 W. Armitage Chicago, IL — 557 1,946 439 557 2,385 2,942 557 2011 (a) 40 years 2299 N. Clybourn Avenue Chicago, IL — 177 484 — 177 484 661 102 2011 (a) 40 years 843-45 W. Armitage Chicago, IL — 731 2,730 228 731 2,958 3,689 590 2012 (a) 40 years 1525 W. Belmont Avenue Chicago, IL — 1,480 3,338 710 1,480 4,048 5,528 735 2012 (a) 40 years 2206-08 N. Halsted Chicago, IL — 1,183 3,540 351 1,183 3,891 5,074 961 2012 (a) 40 years 2633 N. Halsted Chicago, IL — 960 4,096 359 998 4,417 5,415 837 2012 (a) 40 years 50-54 E. Walton Chicago, IL — 2,848 12,694 570 2,848 13,264 16,112 2,613 2012 (a) 40 years 662 W. Diversey Chicago, IL — 1,713 1,603 10 1,713 1,613 3,326 284 2012 (a) 40 years 837 W. Armitage Chicago, IL — 780 1,758 237 780 1,995 2,775 393 2012 (a) 40 years 823 W. Armitage Chicago, IL — 717 1,149 95 717 1,244 1,961 223 2012 (a) 40 years 851 W. Armitage Chicago, IL — 545 209 139 545 348 893 107 2012 (a) 40 years 1240 W. Belmont Avenue Chicago, IL — 2,137 1,589 583 2,137 2,172 4,309 456 2012 (a) 40 years 21 E. Chestnut Chicago, IL — 1,318 8,468 34 1,318 8,502 9,820 1,503 2012 (a) 40 years 819 W. Armitage Chicago, IL — 790 1,266 140 790 1,406 2,196 336 2012 (a) 40 years 1520 Milwaukee Avenue Chicago, IL — 2,110 1,306 290 2,110 1,596 3,706 304 2012 (a) 40 years 330-340 River St Cambridge, MA 11,140 8,404 14,235 — 8,404 14,235 22,639 2,914 2012 (a) 40 years Rhode Island Place Shopping Center Washington, D.C. — 7,458 15,968 1,902 7,458 17,870 25,328 3,995 2012 (a) 40 years 930 Rush Street Chicago, IL — 4,933 14,587 — 4,933 14,587 19,520 2,826 2012 (a) 40 years 28 Jericho Turnpike Westbury, NY 13,416 6,220 24,416 12 6,220 24,428 30,648 4,856 2012 (a) 40 years 181 Main Street Westport, CT — 1,908 12,158 409 1,908 12,567 14,475 2,279 2012 (a) 40 years 83 Spring Street Manhattan, NY — 1,754 9,200 — 1,754 9,200 10,954 1,725 2012 (a) 40 years 60 Orange Street Bloomfield, NJ 7,001 3,609 10,790 — 3,609 10,790 14,399 2,157 2012 (a) 40 years 179-53 & 1801-03 Connecticut Avenue Washington, D.C. — 11,690 10,135 1,088 11,690 11,223 22,913 2,205 2012 (a) 40 years 639 West Diversey Chicago, IL — 4,429 6,102 1,034 4,429 7,136 11,565 1,503 2012 (a) 40 years 664 North Michigan Chicago, IL — 15,240 65,331 — 15,240 65,331 80,571 11,229 2013 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2019 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Income is Compared 8-12 E. Walton Chicago, IL — 5,398 15,601 978 5,398 16,579 21,977 2,910 2013 (a) 40 years 3200-3204 M Street Washington, DC — 6,899 4,249 168 6,899 4,417 11,316 839 2013 (a) 40 years 868 Broadway Manhattan, NY — 3,519 9,247 5 3,519 9,252 12,771 1,405 2013 (a) 40 years 313-315 Bowery Manhattan, NY — — 5,516 — — 5,516 5,516 1,339 2013 (a) 40 years 120 West Broadway Manhattan, NY — — 32,819 1,124 — 33,943 33,943 3,403 2013 (a) 40 years 11 E. Walton Chicago, IL — 16,744 28,346 195 16,744 28,541 45,285 4,373 2014 (a) 40 years 61 Main Street Westport, CT — 4,578 2,645 789 4,578 3,434 8,012 436 2014 (a) 40 years 865 W. North Avenue Chicago, IL — 1,893 11,594 41 1,893 11,635 13,528 1,688 2014 (a) 40 years 152-154 Spring St. Manhattan, NY — 8,544 27,001 180 8,544 27,181 35,725 3,878 2014 (a) 40 years 2520 Flatbush Ave Brooklyn, NY — 6,613 10,419 303 6,613 10,722 17,335 1,575 2014 (a) 40 years 252-256 Greenwich Avenue Greenwich, CT — 10,175 12,641 544 10,175 13,185 23,360 2,008 2014 (a) 40 years Bedford Green Bedford Hills, NY — 12,425 32,730 4,370 13,763 35,762 49,525 5,263 2014 (a) 40 years 131-135 Prince Street Manhattan, NY — — 57,536 625 — 58,161 58,161 14,554 2014 (a) 40 years Shops at Grand Ave Queens, NY — 20,264 33,131 1,715 20,264 34,846 55,110 4,615 2014 (a) 40 years 201 Needham Street Newton, MA — 4,550 4,459 105 4,550 4,564 9,114 652 2014 (a) 40 years City Center San Francisco, CA — 36,063 109,098 (24,600 ) 26,386 94,175 120,561 13,356 2015 (a) 40 years 163 Highland Avenue Needham, MA 8,582 12,679 11,213 43 12,679 11,256 23,935 1,486 2015 (a) 40 years Roosevelt Galleria Chicago, IL — 4,838 14,574 61 4,838 14,635 19,473 1,590 2015 (a) 40 years Route 202 Shopping Center Wilmington, DE — — 6,346 501 — 6,847 6,847 1,297 2015 (a) 40 years 991 Madison Avenue Manhattan, NY — — 76,965 1,691 — 78,656 78,656 6,160 2016 (a) 40 years 165 Newbury Street Boston, MA — 1,918 3,980 — 1,918 3,980 5,898 365 2016 (a) 40 years Concord & Milwaukee Chicago, IL 2,650 2,739 2,746 246 2,739 2,992 5,731 278 2016 (a) 40 years State & Washington Chicago, IL 23,881 3,907 70,943 5,436 3,907 76,379 80,286 6,205 2016 (a) 40 years 151 N. State Street Chicago, IL 13,574 1,941 25,529 — 1,941 25,529 27,470 2,181 2016 (a) 40 years North & Kingsbury Chicago, IL 12,164 18,731 16,292 192 18,731 16,484 35,215 1,420 2016 (a) 40 years Sullivan Center Chicago, IL 50,000 13,443 137,327 536 13,443 137,863 151,306 11,837 2016 (a) 40 years California & Armitage Chicago, IL 2,506 6,770 2,292 2 6,770 2,294 9,064 211 2016 (a) 40 years 555 9th Street San Francisco, CA 60,000 75,591 73,268 82 75,591 73,350 148,941 5,848 2016 (a) 40 years Market Square Wilmington, DE — 8,100 31,221 313 8,100 31,534 39,634 1,807 2017 (a) 40 years 613-623 W. Diversey Chicago, IL — 10,061 2,773 11,101 10,061 13,874 23,935 3,408 2018 (c) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2019 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Income is Compared 51 Greene Street Manhattan, NY — 4,488 8,992 — 4,488 8,992 13,480 187 2019 (a) 40 years 53 Greene Street Manhattan, NY — 3,605 12,177 — 3,605 12,177 15,782 228 2019 (a) 40 years 41 Greene Street Manhattan, NY — 6,276 9,582 — 6,276 9,582 15,858 140 2019 (a) 40 years 47 Greene Street Manhattan, NY — 6,265 16,758 — 6,265 16,758 23,023 175 2019 (a) 40 years 849 W Armitage Chicago, IL — 837 2,731 — 837 2,731 3,568 24 2019 (a) 40 years 912 W Armitage Chicago, IL — 982 2,868 — 982 2,868 3,850 25 2019 (a) 40 years Melrose Place Collection Los Angeles, CA — 20,490 26,788 — 20,490 26,788 47,278 112 2019 (a) 40 years 45 Greene Street Manhattan, NY — 2,903 8,487 — 2,903 8,487 11,390 39 2019 (a) 40 years 565 Broadway Manhattan, NY — — 22,491 — — 22,491 22,491 — 2019 (a) 40 years 907 W Armitage Chicago, IL — 700 2,081 — 700 2,081 2,781 5 2019 (a) 40 years Undeveloped Land — 100 — — 100 — 100 — Fund II: City Point Brooklyn, NY 243,298 — 100,316 491,335 — 591,651 591,651 48,096 2007 (c) 40 years Fund III: 654 Broadway Manhattan, NY — 9,040 3,654 4,177 9,040 7,831 16,871 1,549 2011 (a) 40 years 640 Broadway Manhattan, NY 39,470 12,503 19,960 15,225 12,503 35,185 47,688 6,970 2012 (a) 40 years Cortlandt Crossing Mohegan Lake, NY 28,818 11,000 — 59,277 10,473 59,804 70,277 2,005 2012 (c) 40 years Fund IV: 210 Bowery Manhattan, NY — 1,875 5,625 (3,950 ) 1,875 1,675 3,550 57 2012 (c) 40 years Paramus Plaza Paramus, NJ 18,900 11,052 7,037 12,901 11,052 19,938 30,990 4,304 2013 (a) 40 years 27 E. 61st Street Manhattan, NY — 4,813 14,438 7,241 4,813 21,679 26,492 1,311 2014 (c) 40 years 17 E. 71st Street Manhattan, NY 18,833 7,391 20,176 306 7,391 20,482 27,873 2,987 2014 (a) 40 years 1035 Third Avenue Manhattan, NY — 12,759 37,431 5,541 14,099 41,632 55,731 6,070 2015 (a) 40 years 801 Madison Avenue Manhattan, NY — 4,178 28,470 5,844 4,178 34,314 38,492 2,085 2015 (c) 40 years 2208-2216 Fillmore Street San Francisco, CA 5,606 3,027 6,376 57 3,027 6,433 9,460 734 2015 (a) 40 years 2207 Fillmore Street San Francisco, CA 1,120 1,498 1,735 118 1,498 1,853 3,351 213 2015 (a) 40 years 1964 Union Street San Francisco, CA 1,463 563 1,688 1,867 563 3,555 4,118 230 2016 (c) 40 years Restaurants at Fort Point Boston, MA 6,070 1,041 10,905 182 1,041 11,087 12,128 1,200 2016 (a) 40 years Wakeforest Crossing Wake Forest, NC 23,337 7,570 24,829 472 7,570 25,301 32,871 2,846 2016 (a) 40 years Airport Mall Bangor, ME 5,334 2,294 7,067 1,882 2,294 8,949 11,243 868 2016 (a) 40 years Colonie Plaza Albany, NY 11,713 2,852 9,619 273 2,852 9,892 12,744 1,021 2016 (a) 40 years Dauphin Plaza Harrisburg, PA 12,718 5,290 9,464 3,056 5,290 12,520 17,810 1,557 2016 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2019 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Income is Compared Mayfair Shopping Center Philadelphia, PA 11,895 6,178 9,266 1,132 6,178 10,398 16,576 1,061 2016 (a) 40 years Shaw's Plaza Waterville, ME 7,636 828 11,814 272 828 12,086 12,914 1,162 2016 (a) 40 years Wells Plaza Wells, ME 5,700 1,892 2,585 505 1,892 3,090 4,982 424 2016 (a) 40 years 717 N. Michigan Chicago, IL 16,148 20,674 10,093 — 20,674 10,093 30,767 843 2016 (c) 40 years Shaw's Plaza North Windham, ME 5,702 1,876 6,696 1 1,876 6,697 8,573 509 2017 (a) 40 years Lincoln Place Fairview Heights, IL 23,100 7,149 22,201 2,035 7,149 24,236 31,385 2,215 2017 (a) 40 years 18 E. Broughton St. Savannah, GA 2,032 609 1,513 — 609 1,513 2,122 51 2018 (a) 40 years 20 E. Broughton St. Savannah, GA 1,258 588 937 — 588 937 1,525 32 2018 (a) 40 years 25 E. Broughton St. Savannah, GA 3,302 1,324 2,459 319 1,324 2,778 4,102 109 2018 (a) 40 years 109 W. Broughton St. Savannah, GA 8,809 2,343 6,560 — 2,343 6,560 8,903 223 2018 (a) 40 years 204-206 W. Broughton St. Savannah, GA 590 547 439 45 547 484 1,031 15 2018 (a) 40 years 216-218 W. Broughton St. Savannah, GA 3,674 1,160 2,736 17 1,160 2,753 3,913 94 2018 (a) 40 years 220 W. Broughton St. Savannah, GA 2,416 619 1,799 — 619 1,799 2,418 61 2018 (a) 40 years 223 W. Broughton St. Savannah, GA 924 465 688 — 465 688 1,153 24 2018 (a) 40 years 226-228 W. Broughton St. Savannah, GA 2,551 660 1,900 — 660 1,900 2,560 64 2018 (a) 40 years 309/311 W. Broughton St. Savannah, GA 3,619 1,160 2,695 — 1,160 2,695 3,855 91 2018 (a) 40 years 110 University Manhattan, NY — — 1,370 — — 1,370 1,370 25 2019 (a) 40 years Fund V: Plaza Santa Fe Santa Fe, NM 22,893 — 28,214 360 — 28,574 28,574 2,047 2017 (a) 40 years Hickory Ridge Hickory, NC 30,000 7,852 29,998 1,350 7,852 31,348 39,200 2,120 2017 (a) 40 years New Towne Plaza Canton, MI 16,900 5,040 17,391 59 5,040 17,450 22,490 1,210 2017 (a) 40 years Fairlane Green Allen Park, MI 40,300 18,121 37,143 256 18,121 37,399 55,520 2,059 2017 (a) 40 years Trussville Promenade Birmingham, AL 29,370 7,587 34,285 36 7,587 34,321 41,908 1,713 2018 (a) 40 years Elk Grove Commons Elk Grove, CA 41,500 6,204 48,008 70 6,204 48,078 54,282 1,786 2018 (a) 40 years Hiram Pavilion Hiram, GA 28,830 13,029 25,446 56 13,029 25,502 38,531 964 2018 (a) 40 years Palm Coast Landing Palm Coast, FL 26,500 7,066 27,299 — 7,066 27,299 34,365 554 2019 (a) 40 years Lincoln Commons Lincoln, RI 38,820 14,429 34,417 170 14,429 34,587 49,016 517 2019 (a) 40 years Landstown Commons Virginia Beach, VA 60,900 10,221 69,005 166 10,221 69,171 79,392 766 2019 (a) 40 years Real Estate Under Development 69,718 82,969 53,847 116,586 94,923 158,479 253,402 — Right-of-use assets - operating lease — 56,961 5,058 (2,013 ) 55,764 4,242 60,006 — Initial Cost to Company Amount at Which Carried at December 31, 2019 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Income is Compared Unamortized Loan Costs (10,078 ) — — — — — — — Unamortized Premium 651 — — — — — — — Total $ 1,170,076 $ 901,997 $ 2,286,624 $ 910,921 $ 906,984 $ 3,192,558 $ 4,099,542 $ 490,227 Notes: 1. Depreciation on buildings and improvements reflected in the consolidated statements of income is calculated over the estimated useful life of the assets as follows: Buildings at 40 years and improvements at the shorter of lease term or useful life. 2. The aggregate gross cost of property included above for Federal income tax purposes was approximately $4.0 billion as of December 31, 2019. The following table reconciles the activity for real estate properties from January 1, 2017 to December 31, 2019 (in thousands): Year Ended December 31, 2019 2018 2017 Balance at beginning of year $ 3,697,805 $ 3,466,482 $ 3,382,000 Improvements and other 97,000 99,594 55,763 Property acquisitions 303,884 134,559 179,292 Property dispositions or held for sale assets (84,243 ) (34,666 ) (189,895 ) Right-of-use assets - operating leases obtained 62,020 — — Right-of-use assets - finance leases obtained and reclassified 102,055 — — Capital lease reclassified as Right-of-use assets - finance lease (76,965 ) — — Right-of-use assets - operating lease amortization (2,014 ) — — Consolidation of previously unconsolidated investments — 31,836 39,322 Balance at end of year $ 4,099,542 $ 3,697,805 $ 3,466,482 The following table reconciles accumulated depreciation from January 1, 2017 to December 31, 2019 (in thousands): Year Ended December 31, 2019 2018 2017 Balance at beginning of year $ 416,657 $ 339,862 $ 287,066 Depreciation related to real estate 85,317 78,453 73,268 Property dispositions (11,747 ) (1,658 ) (20,472 ) Balance at end of year $ 490,227 $ 416,657 $ 339,862

SCHEDULE IV - MORTGAGE LOANS ON

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	12 Months Ended
	Dec. 31, 2019
Mortgage Loans On Real Estate [Abstract]
SCHEDULE IV-MORTGAGE LOANS ON REAL ESTATE	Description Effective Interest Rate Final Maturity Date Face Amount of Notes Receivable Net Carrying Amount of Notes Receivable as of December 31, 2019 First Mortgage Loan 6.0% 4/30/2020 $ 17,810 $ 17,802 First Mortgage Loan 8.1% 6/20/2020 153,400 38,673 Zero Coupon Loan 2.5% 5/31/2020 29,793 33,170 Mezzanine Loan 18.0% 7/1/2020 5,306 5,306 First Mortgage Loan 5.1% 10/28/2021 13,530 13,530 Other 4.65% 4/12/2026 6,000 6,000 Other 4.82% 4/10/2021 462 462 Total $ 226,301 $ 114,943 The Company monitors the credit quality of its notes receivable on an ongoing basis and considers indicators of credit quality such as loan payment activity, the estimated fair value of the underlying collateral, the seniority of the Company's loan in relation to other debt secured by the collateral, the personal guarantees of the borrower and the prospects of the borrower. The following table reconciles the activity for loans on real estate from January 1, 2017 to December 31, 2019 (in thousands): Reconciliation of Loans on Real Estate Year Ended December 31, 2019 2018 2017 Balance at beginning of year $ 111,775 $ 160,991 $ 283,125 Additions 18,418 3,805 11,571 Repayments (15,250 ) (31,000 ) (32,000 ) Conversion to real estate through receipt of deed — (22,021 ) (101,705 ) Balance at end of year $ 114,943 $ 111,775 $ 160,991

Organization, Basis of Presen_2

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Segments	Segments At December 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-level basis and does not differentiate properties on a geographical basis for purposes of allocating resources or capital.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the consolidated accounts of the Company and its investments in partnerships and limited liability companies in which the Company has control in accordance with FASB Accounting Standards Codification Topic 810 “Consolidation.” The ownership interests of other investors in these entities are recorded as noncontrolling interests. All significant intercompany balances and transactions have been eliminated in consolidation. Investments in entities for which the Company has the ability to exercise significant influence over, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or losses) of these entities are included in consolidated net income.
Use of Estimates	Use of Estimates GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, revenue recognition and the collectability of notes receivable and rents receivable. Application of these estimates and assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.
Reclassifications	Reclassifications Certain prior year amounts with regard to gains on dispositions of properties and credit losses have been reclassified to conform to the current year presentation. These reclassifications had no effect on the reported results of operations.
Real Estate	Real Estate Land, buildings, and personal property are carried at cost less accumulated depreciation. Improvements and significant renovations that extend the useful life of the properties are capitalized, while replacements, maintenance, and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Real estate under development includes costs for significant property expansion and development. Depreciation is computed on the straight-line basis over estimated useful lives of the assets as follows: Buildings and improvements Useful lives of Furniture and fixtures Useful lives, ranging from Tenant improvements Shorter of economic life or lease terms Purchase Accounting – Upon acquisitions of real estate, the Company assesses the fair value of acquired assets and assumed liabilities (including land, buildings and improvements, and identified intangibles such as above- and below-market leases and acquired in-place leases and customer relationships) and acquired liabilities in accordance with and “ and allocates the acquisition price based on these assessments. When acquisitions of properties do not meet the criteria for business combinations, no goodwill is recorded and acquisition costs are capitalized The Company assesses fair value of its tangible assets acquired and assumed liabilities based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information at the measurement period. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. In determining the value of above- and below-market leases, the Company estimates the present value difference between contractual rent obligations and estimated market rate of leases at the time of the transaction. To the extent there were fixed-rate options at below-market rental rates, the Company included these along with the current term below-market rent in arriving at the fair value of the acquired leases. The discounted difference between contract and market rents is being amortized to rental income over the remaining applicable lease term, inclusive of any option periods. In determining the value of acquired in-place leases and customer relationships, the Company considers market conditions at the time of the transaction and values the costs to execute similar leases during the expected lease-up period from vacancy to existing occupancy, including carrying costs. The value assigned to in-place leases and tenant relationships is amortized over the estimated remaining term of the leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs relating to that lease would be written off. The Company estimates the value of any assumption of mortgage debt based on market conditions at the time of acquisitions including prevailing interest rates, terms and ability to obtain financing for a similar asset. Mortgage debt discounts or premiums are amortized into interest expense over the remaining term of the related debt instrument. Real Estate Under Development – The Company capitalizes certain costs related to the development of real estate. Interest and real estate taxes incurred during the period of the construction, expansion or development of real estate are capitalized and depreciated over the estimated useful life of the building. The Company will cease the capitalization of these costs when construction activities are substantially completed and the property is available for occupancy by tenants, but no later than one year from the completion of major construction activity at which time the project is placed in service and depreciation commences. If the Company suspends substantially all activities related to development of a qualifying asset, the Company will cease capitalization of interest and taxes until activities are resumed. Real Estate Impairment – The Company reviews its real estate and real estate under development for impairment when there is an event or a change in circumstances that indicates that the carrying amount may not be recoverable. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value. The determination of anticipated undiscounted cash flows is inherently subjective, requiring significant estimates made by management, and considers the most likely expected course of action at the balance sheet date based on current plans, intended holding periods and available market information. If the Company is evaluating the potential sale of an asset, the undiscounted future cash flows analysis is probability-weighted based upon management’s best estimate of the likelihood of the alternative courses of action as of the balance sheet date. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. If an impairment is indicated, an impairment loss is recognized based on the excess of the carrying amount of the asset over its fair value. See Note 8 for information about impairment charges incurred during the periods presented.
Dispositions of Real Estate	Dispositions of Real Estate – The Company recognizes property sales in accordance with “ Sales of real estate include the sale of land, operating properties and investments in real estate joint ventures. Beginning January 1, 2018, gains on sale of investment properties are recognized, and the related real estate derecognized, when the Company has satisfied its performance obligations by transferring control of the property. Typically, the timing of payment and satisfaction of performance obligations occur simultaneously on the disposition date upon transfer of the property’s ownership. Prior to January 1, 2018, gains from dispositions were recognized under the full accrual or partial sales method provided that various criteria relating to terms of sales and subsequent involvement by the Company with the asset sold are met.
Real Estate Held for Sale	Real Estate Held for Sale – The Company generally considers assets to be held for sale when it has entered into a contract to sell the property, all material due diligence requirements have been satisfied, and management believes it is probable that the disposition will occur within one year. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost to sell.
Notes Receivable	Notes Receivable Notes receivable include certain loans that are held for investment and are collateralized by real estate-related investments and may be subordinate to other senior loans. Notes receivable are recorded at stated principal amounts or at initial investment less accretive yield for loans purchased at a discount, which is accreted over the life of the note. The Company defers loan origination and commitment fees, net of origination costs, and amortizes them over the term of the related loan. The Company evaluates the collectability of both principal and interest based upon an assessment of the underlying collateral value to determine whether it is impaired. A reserve is recorded when, based upon current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. The amount of the reserve is calculated by comparing the recorded investment to the value of the underlying collateral. As the underlying collateral for a majority of the notes receivable is real estate-related investments, the same valuation techniques are used to value the collateral as those used to determine the fair value of real estate investments for impairment purposes. Given the small number of notes outstanding, the Company does not provide for an additional reserve based on the grouping of loans, as the Company believes the characteristics of its notes are not sufficiently similar to allow an evaluation of these notes as a group for a possible loan loss allowance. As such, all of the Company’s notes are evaluated individually for this purpose. Interest income on performing notes is accrued as earned. A note is placed on non-accrual status when, based upon current information and events, it is probable that the Company will not be able to collect all amounts due according to the existing contractual terms. Recognition of interest income on an accrual basis on non-performing notes is resumed when it is probable that the Company will be able to collect amounts due according to the contractual terms.
Investments in and Advances to Unconsolidated Joint Ventures	Investments in and Advances to Unconsolidated Joint Ventures Some of the Company’s joint ventures obtain non-recourse third-party financing on their property investments, contractually limiting the Company’s exposure to losses. The Company recognizes income for distributions in excess of its investment where there is no recourse to the Company and no intention or obligation to contribute additional capital. For investments in which there is recourse to the Company or an obligation or intention to contribute additional capital exists, distributions in excess of the investment are recorded as a liability. When characterizing distributions from equity investees within the Company's consolidated statements of cash flows, all distributions received are first applied as returns on investment to the extent there are cumulative earnings related to the respective investment and are classified as cash inflows from operating activities. If cumulative distributions are in excess of cumulative earnings, distributions are considered return of investment. In such cases, the distribution is classified as cash inflows from investing activities. To the extent that the Company’s carrying basis in an unconsolidated affiliate is different from the basis reflected at the joint venture level, the basis difference is amortized over the life of the related assets and included in the Company’s share of equity in net income (loss) of investments in unconsolidated affiliates the joint venture. The Company periodically reviews its investments in unconsolidated joint ventures for other-than-temporary losses in investment value. Any decline that is not expected to be recovered based on the underlying assets of the investment, is considered other than temporary and an impairment charge is recorded as a reduction in the carrying value of the investment. During the periods presented there were no impairment charges related to the Company’s investments in unconsolidated joint ventures.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the limits insured by the Federal Deposit Insurance Corporation.
Restricted Cash	Restricted Cash Restricted cash consists principally of cash held for real estate taxes, construction costs, property maintenance, insurance, minimum occupancy and property operating income requirements at specific properties as required by certain loan agreements.
Deferred Costs	Deferred Costs External fees and costs paid in the successful negotiation of leases are deferred and amortized on a straight-line basis over the terms of the respective leases. External fees and costs incurred in connection with obtaining financing are deferred and amortized as a component of interest expense over the term of the related debt obligation on a straight-line basis, which approximates the effective interest method. Effective January 1, 2019, internal leasing costs are no longer being capitalized as discussed further below under ASU 2016-02.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company measures derivative instruments at fair value and records them as assets or liabilities, depending on its rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Other comprehensive (loss) income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. Although the Company's derivative contracts are subject to master netting arrangements, which serve as credit mitigants to both the Company and its counterparties under certain situations, the Company does not net its derivative fair values or any existing rights or obligations to cash collateral on the consolidated balance sheets. The Company does not use derivatives for trading or speculative purposes. For the periods presented, all of the Company's derivatives qualified and were designated as cash flow hedges, and none of its derivatives were deemed ineffective.
NonControlling Interests	Noncontrolling Interests Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates. The Company identifies its noncontrolling interests separately within the equity section on the Company’s consolidated balance sheets. The amounts of consolidated net earnings attributable to the Company and to the noncontrolling interests are presented separately on the Company’s consolidated statements of income. Noncontrolling interests also include amounts related to common and preferred OP Units issued to unrelated third parties in connection with certain property acquisitions. In addition, the Company periodically issues common OP Units and LTIPs to certain employees of the Company under its share-based incentive program. Unit holders generally have the right to redeem their units for Common Shares subject to blackout and other limitations. Common and restricted OP Units are included in the caption Noncontrolling interest within the equity section on the Company’s consolidated balance sheets.
Revenue Recognition and Accounts Receivable	Revenue Recognition and Accounts Receivable Effective January 1, 2019, and as further described below, the Company accounts for its leases under ASC 842. Pursuant to ASC 842, the Company has made an accounting policy election to not separate the non-lease components from its leases, such as common area maintenance, and has accounted for each of its leases as a single lease component. In addition, the Company has elected to account only for those taxes that it pays on behalf of the tenant as reimbursable costs and will not account for those taxes paid directly by the tenant. Minimum rents from tenants are recognized using the straight-line method over the non-cancelable lease term of the respective leases. Lease termination fees are recognized upon the effective termination of a tenant’s lease when the Company has no further obligations under the lease. As of December 31, 2019 and 2018, unbilled rents receivable relating to the straight-lining of rents of $48.4 million and $47.2 million, respectively, are included in Rents Receivable, net on the accompanying consolidated balance sheets. Certain of these leases also provide for percentage rents based upon the level of sales achieved by the tenant. Percentage rent is recognized in the period when the tenants’ sales breakpoint is met. In addition, leases typically provide for the reimbursement to the Company of real estate taxes, insurance and other property operating expenses. These reimbursements are recognized as revenue in the period the related expenses are incurred. The Company assesses the collectability of its accounts receivable related to tenant revenues. With the adoption of ASC Topic 842, the Company will first apply the guidance under ASC 842 in assessing its rents receivable: if collection of rents under specific operating leases is not probable, then the Company recognizes the lesser of that lease’s rental income on a straight-line basis or cash received, plus variable rents as earned. Once this initial assessment is completed, the Company applies a general reserve, as provided under ASC 450-20, if applicable. Rents receivable at December 31, 2019 and 2018 are shown net of an allowance for doubtful accounts of $11.4 million and $7.9 million, respectively.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense for all equity-classified stock-based compensation awards is based on the grant date fair value estimated in accordance with current accounting guidance for share-based payments. The Company recognizes these compensation costs for only those shares or units expected to vest on a straight-line or graded-vesting basis, as appropriate, over the requisite service period of the award. The Company includes stock-based compensation within general and administrative expense on the consolidated statements of income.
Income Taxes	Income Taxes The Company has made an election to be taxed, and believes it qualifies, as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”). To maintain REIT status for Federal income tax purposes, the Company is generally required to distribute at least 90% of its REIT taxable income to its shareholders as well as comply with certain other income, asset and organizational requirements as defined in the Code. Accordingly, the Company is generally not subject to Federal corporate income tax to the extent that it distributes 100% of its REIT taxable income each year. In connection with the REIT Modernization Act, the Company is permitted to participate in certain activities and still maintain its qualification as a REIT, so long as these activities are conducted in entities that elect to be treated as taxable subsidiaries under the Code. As such, the Company is subject to Federal and state income taxes on the income from these activities. The Act was enacted in December 2017 and is generally effective for tax years beginning in 2018. This new legislation did not have a material adverse effect on the Company’s business and allows non-corporate shareholders to deduct a portion of the Company’s dividends. Although it may qualify for REIT status for f ederal income tax purposes, the Company is subject to state or local income or franchise taxes in certain jurisdictions in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s TRS is fully subject to f ederal, state and local income taxes. The Company accounts for TRS income taxes under the liability method as required by ASC Topic 740, “Income Taxes.” Under the liability method, deferred income taxes are recognized for the temporary differences between the GAAP basis and tax basis of the TRS income, assets and liabilities. The Company records net deferred tax assets to the extent it believes it is more likely than not that these assets will be realized. In 2019, the Company recorded valuation allowances to reduce deferred tax assets when it determined that an uncertainty existed regarding their realization, which increased the provision for income taxes. In making such determination, the Company considered all available positive and negative evidence, including forecasts of future taxable income, the reversal of other existing temporary differences, available net operating loss carry-forwards, tax planning strategies and recent results of operations. Several of these considerations require assumptions and significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates that the Company is utilizing to manage its business. To the extent facts and circumstances change in the future, further adjustments to the valuation allowances may be required.
Recently 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 (Topic 606). To ease the transition, the new lease accounting guidance permits companies to utilize certain practical expedients in their implementation of the new standard: • 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 added a transition practical expedient to not reassess existing or expired land easement agreements not previously accounted for as leases; • ASU 2018-10, Codification Improvements to Topic 842, Leases . These amendments provide minor clarifications and corrections to ASU 2016-02 • 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 . This ASU modifies ASU No. 2016-02 to permit lessors, as an accounting policy election, not to evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, those lessors will account for those costs as if they are lessee costs. Consequently, a lessor making this election will exclude from the consideration in the contract and from variable payments not included in the consideration in the contract all collections from lessees of taxes within the scope of the election and will provide certain disclosures (includes sales, use, value added, and some excise taxes and excludes real estate taxes). ASU 2019-01, Leases (Topic 842), Codification Improvements . There are three codification updates to Topic 842 covered by this ASU: Issue 1 provides guidance on how to compute fair value of leased items for lessors who are non-dealers or manufacturers; Issue 2 relates to cash flow presentation for lessors of sales-type and direct financing leases; and Issue 3 clarifies that certain transition disclosures will only be required in annual disclosures. • 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 unless the entity elects the lessor practical expedient to not separate the non-lease components from the associated lease component as described above. The new guidance also includes a definition of initial direct costs that is narrower than the prior definition in former GAAP (Topic 840, Leases). Topic 842 was effective for the Company beginning January 1, 2019. 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 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 effective January 1, 2019: • 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, have been 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 have been reclassified to conform to the current period presentation. • Due to its election of available practical expedients, the Company notes that post-adoption substantially all existing leases, and new leases compared to similar existing leases, had no change in the timing of revenue recognition. • The Company’s internal leasing costs have been 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 no longer capitalizes internal leasing costs that were previously capitalized (the Company capitalized $1.7 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’s 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 has made 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 was party to 13 ground, office and equipment leases with future payment obligations aggregating approximately $203.1 million at December 31, 2018. The impact of adoption of ASU 2016-02 for the Company as lessee was as 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 first apply the guidance under ASC 842 in assessing its rents receivable: if collection of rents under specific operating leases is not probable, then the Company recognizes the lesser of that lease’s rental income on a straight-line basis or cash received, plus variable rents as earned. Once this initial assessment is completed, the Company may apply a general reserve, as provided under ASC 450-20, if applicable. 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 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 July 2018, the FASB issued ASU No. 2018-09, Codification Improvements Recently Issued Accounting Pronouncements In April 2019, the FASB issued ASU No. 2019-04 Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities; Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, In May 2019, the FASB issued ASU No. 2019-05 Financial Instruments — Credit Losses (Topic 326) which provides relief to certain entities adopting ASU 2016-13 (discussed below). The amendments accomplish those objectives by providing entities with an option to irrevocably elect th e fair value option in Subtopic 825-10, applied on an instrument-by-instrument basis for eligible instruments, that are within the scope of Subtopic 326-20, upon adoption of Topic 326. The fair value option election does not apply to held-to-maturity debt securities. ASU 2019-05 has the same transition as ASU 2016-13 and is effective for periods beginning after December 15, 2019, with adoption permitted after this update . The Company currently does not expect to utilize this election upon adoption of ASU 2016-13 (discussed below) because it does not currently have any significant held-to-maturity debt securities. 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 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
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.
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, 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, and comprised of interest rate swaps and caps. The derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. See “Derivative Financial Instruments,” below. Derivative Liabilities — The Company has derivative liabilities, which are included in Accounts payable and other liabilities in the consolidated financial statements and 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.
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 ). During the periods presented, the Company had unvested LTIP Units which provide for non-forfeitable rights to dividend equivalent payments. Accordingly, these unvested LTIP Units are considered participating securities and are included in the computation of basic earnings per Common Share pursuant to the two-class method. Diluted earnings per Common Share reflects the potential dilution of the conversion of obligations and the assumed exercises of securities including the effects of restricted share units (“Restricted Share Units”) issued under the Company’s Share Incentive Plans ( Note 13 ). The effect of such shares is excluded from the calculation of earnings per share when anti-dilutive as indicated in the table below. The effect of the conversion of Common OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Common Shares on a one-for-one basis. The income allocable to such units is allocated on this same basis and reflected as noncontrolling interests in the accompanying consolidated financial statements. As such, the assumed conversion of these units would have no net impact on the determination of diluted earnings per share.

Organization, Basis of Presen_3

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 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 December 31, 2019 (b) Unfunded Commitment (b) Equity Interest Held By Operating Partnership (a) Preferred Return Total Distributions as of December 31, 2019 (b) Fund II and Mervyns II (c) 6/2004 28.33 % $ 347.1 $ 15.0 28.33 % 8 % $ 146.6 Fund III 5/2007 24.54 % 436.4 13.6 24.54 % 6 % 568.8 Fund IV 5/2012 23.12 % 438.1 91.9 23.12 % 6 % 193.1 Fund V 8/2016 20.10 % 213.3 306.7 20.10 % 6 % 11.1 (a) Amount represents the current economic ownership at December 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)	12 Months Ended
	Dec. 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 for the periods presented (in thousands): December 31, 2019 December 31, 2018 Land $ 756,297 $ 710,469 Buildings and improvements 2,740,479 2,594,828 Tenant improvements 173,686 151,154 Construction in progress 13,617 44,092 Properties under capital lease ( Note 11 ) — 76,965 Right-of-use assets - finance leases ( Note 11 ) 102,055 — Right-of-use assets - operating leases ( Note 11 ), net 60,006 — Total 3,846,140 3,577,508 Less: Accumulated depreciation and amortization (490,227 ) (416,657 ) Operating real estate, net 3,355,913 3,160,851 Real estate under development, at cost 253,402 120,297 Net investments in real estate $ 3,609,315 $ 3,281,148
Schedule of Business Acquisitions, by Acquisition	During the years ended December 31, 2019 and 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 Acquisitions - 41, 45, 47, 51 and 53 Greene Street - New York, NY (a) 100% Mar 15, 2019 Mar 27, 2019 May 29, 2019 Jul 30, 2019 Nov 8, 2019 $ 87,006 849, 907 and 912 W. Armitage - Chicago, IL 100% Sep 11, 2019 Dec 11, 2019 10,738 8436-8452 Melrose Place - Los Angeles, CA 100% Oct 25, 2019 48,691 Subtotal Core 146,435 Fund V Palm Coast Landing - Palm Coast, FL 100% May 6, 2019 36,644 Lincoln Commons - Lincoln, RI 100% Jun 21, 2019 54,299 Landstown Commons - Virginia Beach, VA 100% Aug 2, 2019 86,961 Subtotal Fund V 177,904 Total 2019 Acquisitions $ 324,339 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 years ended December 31, 2019 and 2018 (in thousands): Year Ended December 31, 2019 Year Ended December 31, 2018 Net Assets Acquired Land $ 78,263 $ 38,086 Buildings and improvements 221,185 129,586 Acquisition-related intangible assets ( Note 6 ) 34,972 26,693 Acquisition-related intangible liabilities ( Note 6 ) (10,081 ) (7,902 ) Net assets acquired $ 324,339 $ 186,463 Consideration Cash $ 319,673 $ 147,985 Liabilities assumed 4,666 2,597 Existing interest in previously unconsolidated investment — 35,881 Total consideration $ 324,339 $ 186,463
Schedule of Property Dispositions	During the years ended December 31, 2019 and 2018, the Company disposed of the following consolidated properties (in thousands): Property and Location Owner Date Sold Sale Price Gain (Loss) on Sale 2019 Dispositions 3104 M Street - Washington, DC ( Note 4 ) Fund III Jan 24, 2019 $ 10,500 $ 2,014 210 Bowery - 3 Residential Condos - New York, NY Fund IV May 17, 2019 Sep 23, 2019 Nov 7, 2019 8,826 (242 ) JFK Plaza - Waterville, ME Fund IV Jul 24, 2019 7,800 2,075 3780-3858 Nostrand Avenue - New York, NY Fund III Aug 22, 2019 27,650 2,562 938 W North Avenue - Chicago, IL Fund IV Sep 27, 2019 32,000 7,144 Pacesetter Park - Pomona, NY Core Oct 28, 2019 22,550 16,771 Total 2019 Dispositions $ 109,326 $ 30,324 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 years ended December 31, 2019, 2018 and 2017 were as follows (in thousands): Year Ended December 31, 2019 2018 2017 Revenues $ 7,295 $ 11,633 $ 23,617 Expenses (6,403 ) (10,084 ) (31,651 ) Gain on disposition of properties 30,324 5,140 48,886 Net income attributable to noncontrolling interests (10,515 ) (4,742 ) (29,233 ) Net income attributable to Acadia $ 20,701 $ 1,947 $ 11,619
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 Year Ended December 31, 2019 December 31, 2019 Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core 1 $ 7,759 $ 57,342 $ 5,581 $ 9,819 — $ 60,863 Fund II — 7,462 — 3,241 — — 10,703 Fund III 1 21,242 12,313 2,685 — 1 36,240 Fund IV 1 83,834 47,689 14,073 — 2 145,596 Total 3 $ 120,297 $ 117,344 $ 25,580 $ 9,819 3 $ 253,402 December 31, 2017 Year Ended 2018 December 31, 2018 Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core 2 $ 21,897 $ — $ 6,320 $ 20,458 1 $ 7,759 Fund II — 4,908 — 2,554 — — 7,462 Fund III 2 63,939 — 36,117 78,814 1 21,242 Fund IV 1 82,958 — 876 — 1 83,834 Total 5 $ 173,702 $ — $ 45,867 $ 99,272 3 $ 120,297

Notes Receivable, Net (Tables)

Notes Receivable, Net (Tables)	12 Months Ended
	Dec. 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): December 31, December 31, December 31, 2019 Description 2019 2018 Number Maturity Date Interest Rate Core Portfolio (a) $ 76,467 $ 58,637 5 Apr 2020 - Apr 2026 4.7% - 8.1% Fund II 33,170 32,582 1 Dec 2020 1.75% Fund III 5,306 5,306 1 Jul 2020 18.0% Fund IV — 15,250 — Feb 2021 15.3% $ 114,943 $ 111,775 7

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Affiliates (Tables)	12 Months Ended
	Dec. 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): Ownership Interest December 31, December 31, Portfolio Property December 31, 2019 2019 2018 Core: 840 N. Michigan (a) 88.43% $ 61,260 $ 65,013 Renaissance Portfolio 20% 31,815 32,458 Gotham Plaza 49% 29,466 29,550 Town Center (a, b) 75.22% 97,674 99,758 Georgetown Portfolio 50% 4,498 4,653 1238 Wisconsin Avenue 80% 1,194 — 225,907 231,432 Mervyns I & II: KLA/Mervyn's, LLC (c) 10.5% — — Fund III: Fund III Other Portfolio 94.23% 17 21 Self Storage Management (d) 95% 207 206 224 227 Fund IV: Broughton Street Portfolio (e) 50% 12,702 3,236 Fund IV Other Portfolio 98.57% 14,733 14,540 650 Bald Hill Road 90% 12,450 12,880 39,885 30,656 Fund V: Family Center at Riverdale (a) 89.42% 13,329 — Tri-City Plaza 90% 10,250 — Frederick County Acquisitions 90% 15,070 — 38,649 — Various: Due to Related Parties (1,902 ) (461 ) Other (f) 2,334 556 Investments in and advances to unconsolidated affiliates $ 305,097 $ 262,410 Core: Crossroads (g) 49% $ 15,362 $ 15,623 Distributions in excess of income from, and investments in, unconsolidated affiliates $ 15,362 $ 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) Also referred to as “BSP II” as discussed further below. The Company is entitled to a 15% return on its cumulative capital contribution which was $5.9 million and $3.0 million at December 31, 2019 and 2018, respectively. In addition, the Company is entitled to a 9% preferred return on a portion of its equity, which was $9.4 million and $2.8 million at December 31, 2019 and 2018, respectively. (f) Includes cost-method investments in Albertson’s ( Note 8 ), Storage Post, Fifth Wall (discussed below) and other investments. ( g ) 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): December 31, 2019 December 31, 2018 Combined and Condensed Balance Sheets Assets: Rental property, net $ 656,265 $ 487,846 Real estate under development 1,341 — Other assets 85,540 89,890 Total assets $ 743,146 $ 577,736 Liabilities and partners’ equity: Mortgage notes payable $ 502,036 $ 408,967 Other liabilities 77,785 54,585 Partners’ equity 163,325 114,184 Total liabilities and partners’ equity $ 743,146 $ 577,736 Company's share of accumulated equity $ 186,864 $ 139,028 Basis differential 100,962 103,812 Deferred fees, net of portion related to the Company's interest 1,270 3,646 Amounts payable by the Company (1,902 ) (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 287,194 246,025 Cost method investments 2,541 762 Company's share of distributions in excess of income from and investments in unconsolidated affiliates 15,362 15,623 Investments in and advances to unconsolidated affiliates $ 305,097 $ 262,410
Schedule of Condensed Income Statement	Year Ended December 31, 2019 2018 2017 Combined and Condensed Statements of Income Total revenues $ 88,585 $ 80,184 $ 83,222 Operating and other expenses (24,624 ) (23,586 ) (24,711 ) Interest expense (21,874 ) (19,954 ) (18,733 ) Depreciation and amortization (25,358 ) (22,228 ) (24,192 ) Loss on debt extinguishment — — (154 ) (Loss) gain on disposition of properties — (1,673 ) 18,957 Net income attributable to unconsolidated affiliates $ 16,729 $ 12,743 $ 34,389 Company’s share of equity in net income of unconsolidated affiliates $ 11,772 $ 12,345 $ 26,039 Basis differential amortization (2,850 ) (3,043 ) (2,668 ) Company’s equity in earnings of unconsolidated affiliates $ 8,922 $ 9,302 $ 23,371

Other Assets, Net and Account_2

Other Assets, Net and Accounts Payable and Other Liabilities (Tables)	12 Months Ended
	Dec. 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) December 31, 2019 December 31, 2018 Other Assets, Net: Lease intangibles, net ( Note 6 ) $ 116,820 $ 115,939 Deferred charges, net (a) 28,746 28,619 Prepaid expenses 18,873 18,422 Other receivables 3,996 2,896 Accrued interest receivable 9,872 17,046 Due from seller 3,682 4,000 Deposits 1,853 4,611 Corporate assets, net 1,565 1,953 Income taxes receivable 1,755 2,070 Derivative financial instruments ( Note 8 ) 2,583 7,018 Deferred tax assets 913 2,032 Due from related parties — 1,802 $ 190,658 $ 206,408 (a) Deferred Charges, Net: Deferred leasing and other costs $ 49,081 $ 45,011 Deferred financing costs related to line of credit 10,051 8,960 59,132 53,971 Accumulated amortization (30,386 ) (25,352 ) Deferred charges, net $ 28,746 $ 28,619 Accounts Payable and Other Liabilities: Lease intangibles, net ( Note 6 ) $ 82,926 $ 95,045 Lease liability - finance leases, net ( Note 11 ) 77,657 — Accounts payable and accrued expenses 68,838 65,215 Lease liability - operating leases, net ( Note 11 ) 56,762 — Derivative financial instruments ( Note 8 ) 39,061 7,304 Deferred income 33,682 34,052 Tenant security deposits, escrow and other 12,590 10,588 Capital lease obligations ( Note 11 ) — 71,111 Other — 2,757 $ 371,516 $ 286,072

Lease Intangibles (Tables)

Lease Intangibles (Tables)	12 Months Ended
	Dec. 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 ) on the consolidated balance sheet and summarized as follows (in thousands): December 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 $ 249,961 $ (137,108 ) $ 112,853 $ 216,021 $ (105,972 ) $ 110,049 Above-market rent 17,227 (13,260 ) 3,967 18,169 (12,279 ) 5,890 $ 267,188 $ (150,368 ) $ 116,820 $ 234,190 $ (118,251 ) $ 115,939 Amortizable Intangible Liabilities Below-market rent $ (160,721 ) $ 78,315 $ (82,406 ) $ (152,188 ) $ 57,721 $ (94,467 ) Above-market ground lease (671 ) 151 (520 ) (671 ) 93 (578 ) $ (161,392 ) $ 78,466 $ (82,926 ) $ (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 December 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 2020 $ 7,177 $ (27,827 ) $ 58 $ (20,592 ) 2021 6,717 (21,053 ) 58 (14,278 ) 2022 6,196 (15,160 ) 58 (8,906 ) 2023 6,149 (11,578 ) 58 (5,371 ) 2024 5,706 (8,931 ) 58 (3,167 ) Thereafter 46,494 (28,304 ) 230 18,420 Total $ 78,439 $ (112,853 ) $ 520 $ (33,894 )

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 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 December 31, December 31, Maturity Date at December 31, December 31, 2019 2018 December 31, 2019 2019 2018 Mortgages Payable Core Fixed Rate 3.88%-6.00% 3.88%-6.00% Feb 2024 - Apr 2035 $ 176,176 $ 178,271 Core Variable Rate - Swapped (a) 3.41%-4.54% 3.41%-5.67% Jan 2023 - Nov 2028 81,559 82,583 Total Core Mortgages Payable 257,735 260,854 Fund II Fixed Rate 4.75% 1.00%-4.75% May 2020 200,000 205,262 Fund II Variable Rate LIBOR+3.00% — March 2022 24,225 — Fund II Variable Rate - Swapped (a) 2.88% 4.27% Nov 2021 19,073 19,325 Total Fund II Mortgages Payable 243,298 224,587 Fund III Variable Rate LIBOR+2.75%-LIBOR+3.10% Prime+0.50%-LIBOR+4.65% Jun 2020 - Jan 2021 74,554 90,096 Fund IV Fixed Rate 3.40%-4.50% 3.40%-4.50% Oct 2025 - Jun 2026 8,189 8,189 Fund IV Variable Rate LIBOR+1.60%-LIBOR+3.40% LIBOR+1.60%-LIBOR+3.95% Feb 2020 - Aug 2021 157,015 233,065 Fund IV Variable Rate - Swapped (a) 3.48%-4.61% 3.67%-4.23% Mar 2020 - Dec 2022 102,699 71,841 Total Fund IV Mortgages Payable 267,903 313,095 Fund V Variable Rate LIBOR+1.50%-LIBOR+2.20% LIBOR+2.25% Feb 2021 - Dec 2024 1,387 51,506 Fund V Variable Rate - Swapped (a) 2.95%-4.78% 4.61%-4.78% Feb 2021 - Dec 2024 334,626 86,570 Total Fund V Mortgage Payable 336,013 138,076 Net unamortized debt issuance costs (10,078 ) (10,173 ) Unamortized premium 651 753 Total Mortgages Payable $ 1,170,076 $ 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%-5.02% 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+2.00% LIBOR+1.65%-LIBOR+2.75% Dec 2020 - June 2021 87,625 40,825 Fund V Subscription Facility — LIBOR+1.60% May 2020 — 102,800 Net unamortized debt issuance costs (305 ) (368 ) Total Unsecured Notes Payable $ 477,320 $ 533,257 Unsecured Line of Credit Core Unsecured Line of Credit -Swapped (a) 2.49%-5.02% — Mar 2022 $ 60,800 $ — Total Debt - Fixed Rate (b)(c) $ 1,403,324 $ 1,001,658 Total Debt - Variable Rate (d) 314,604 558,675 Total Debt 1,717,928 1,560,333 Net unamortized debt issuance costs (10,383 ) (10,541 ) Unamortized premium 651 753 Total Indebtedness $ 1,708,196 $ 1,550,545 (a) At December 31, 2019, the stated rates ranged from LIBOR + 1.50% to LIBOR +1.90% LIBOR + 1.39% LIBOR + 2.75% to LIBOR + 3.10% LIBOR + 1.75% to LIBOR +2.25% LIBOR + 1.50% to LIBOR + 2.20% LIBOR + 1.25% (b) Includes $948.8 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 December 31, 2019 includes $70.2 million of Core swaps that may be used to hedge debt instruments of the Funds. (d) Includes $143.3 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 December 31, 2019 are as follows (in thousands): Year Ending December 31, 2020 $ 437,329 2021 287,723 2022 167,514 2023 415,476 2024 211,991 Thereafter 197,895 1,717,928 Unamortized premium 651 Net unamortized debt issuance costs (10,383 ) Total indebtedness $ 1,708,196

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 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): December 31, 2019 December 31, 2018 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money market funds $ — $ — $ — $ 4,504 $ — $ — Derivative financial instruments — 2,583 — — 7,018 — Liabilities Derivative financial instruments — 39,061 — — 7,304 —
Schedule of Derivative Financial Instruments	The Company had the following interest rate swaps and caps for the periods presented (dollars in thousands): Strike Rate Fair Value Derivative Instrument Aggregate Notional Amount Effective Date Maturity Date Low High Balance Sheet Location December 31, 2019 December 31, 2018 Core Interest Rate Swaps $ 423,442 Dec 2012-July 2020 Mar 2022-July 2030 1.71 % — 3.77 % Other Liabilities (a) $ (33,750 ) $ (6,332 ) Interest Rate Swaps 139,118 Nov 2015 - July 2016 July 2020-June 2021 1.24 % — 1.31 % Other Assets 456 6,022 $ 562,560 $ (33,294 ) $ (310 ) Fund II Interest Rate Swap $ 19,073 Oct 2014 Nov 2021 2.88 % — 2.88 % Other Liabilities $ (139 ) $ — Interest Rate Swap — — — — — — Other Assets — 108 Interest Rate Cap 23,300 Mar 2019 Mar 2022 3.50 % — 3.50 % Other Assets 1 — $ 42,373 $ (138 ) $ 108 Fund III Interest Rate Cap $ 58,000 Dec 2016 Jan 2020 3.00 % — 3.00 % Other Assets $ — $ 8 Fund IV Interest Rate Swaps $ 14,395 Dec 2019 Apr 2022 - Dec 2022 1.48 % — 1.52 % Other Assets $ 22 $ 851 Interest Rate Swaps 88,304 Mar 2017 - May 2019 Mar 2020 - Dec 2022 1.82 % — 4.00 % Other Liabilities (812 ) — Interest Rate Caps 90,600 July 2019 - Dec 2019 Dec 2020 - July 2021 3.00 % — 3.50 % Other Assets — 8 $ 193,299 $ (790 ) $ 859 Fund V Interest Rate Swaps $ 177,726 Oct 2019 - Nov 2019 Oct 2022 - Oct 2024 1.25 % — 1.47 % Other Assets $ 2,104 $ 21 Interest Rate Swaps 156,900 Jan 2018-Mar 2019 Feb 2021-Mar 2024 2.27 % — 2.88 % Other Liabilities (4,360 ) (972 ) $ 334,626 $ (2,256 ) $ (951 ) Total asset derivatives $ 2,583 $ 7,018 Total liability derivatives $ (39,061 ) $ (7,304 ) (a) Includes two swaps with a total fair value of ($11.8) million and ($2.9) million at December 31, 2019 and 2018, respectively, which were acquired during July 2018 and are not effective until July 2020.
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): December 31, 2019 December 31, 2018 Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Notes Receivable (a) 3 $ 114,943 $ 113,422 $ 111,775 $ 109,532 Mortgage and Other Notes Payable (a) 3 1,179,503 1,191,281 1,026,708 1,021,075 Investment in non-traded equity securities (b) 3 1,778 57,964 — 56,337 Unsecured notes payable and Unsecured line of credit (c) 2 538,425 539,362 533,625 533,954 (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 Albertsons’ supermarkets and the Operating Partnership’s cost-method investment in Fifth Wall ( 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)	12 Months Ended
	Dec. 31, 2019
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Schedule of Dividends Declared and Paid	The following table sets forth the dividends declared and/or paid during the years ended December 31, 2019 and 2018: Date Declared Amount Per Share Record Date Payment Date November 8, 2017 $ 0.27 December 29, 2017 January 13, 2018 February 27, 2018 $ 0.27 March 30, 2018 April 13, 2018 May 11, 2018 $ 0.27 June 29, 2018 July 13, 2018 August 7, 2018 $ 0.27 September 28, 2018 October 15, 2018 November 13, 2018 $ 0.28 December 31, 2018 January 15, 2019 February 28, 2019 $ 0.28 March 29, 2019 April 15, 2019 May 9, 2019 $ 0.28 June 28, 2019 July 15, 2019 August 13, 2019 $ 0.28 September 30, 2019 October 15, 2019 November 5, 2019 $ 0.29 December 31, 2019 January 15, 2020
Summary of Activity in Accumulated Other Comprehensive Income	The following tables set forth the activity in accumulated other comprehensive income for the years ended December 31, 2019, 2018 and 2017 (in thousands): Gains or Losses on Derivative Instruments Balance at January 1, 2019 $ 516 Other comprehensive loss before reclassifications (35,674 ) Reclassification of realized interest on swap agreements (872 ) Net current period other comprehensive loss (36,546 ) Net current period other comprehensive loss attributable to noncontrolling interests 4,855 Balance at December 31, 2019 $ (31,175 ) Balance at January 1, 2018 $ 2,614 Other comprehensive loss before reclassifications (2,659 ) Reclassification of realized interest on swap agreements 71 Net current period other comprehensive loss (2,588 ) Net current period other comprehensive loss attributable to noncontrolling interests 490 Balance at December 31, 2018 $ 516 Balance at January 1, 2017 $ (798 ) Other comprehensive income before reclassifications 634 Reclassification of realized interest on swap agreements 3,317 Net current period other comprehensive income 3,951 Net current period other comprehensive income attributable to noncontrolling interests (539 ) Balance at December 31, 2017 $ 2,614
Summary of Change in Noncontrolling Interest	The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2019, 2018 and 2017 (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 $1.13 per Common OP Unit (7,124 ) — (7,124 ) Net income (loss) for the year ended December 31, 2019 3,836 (35,677 ) (31,841 ) Conversion of 307,663 Common OP Units to Common Shares by limited partners of the Operating Partnership (5,104 ) — (5,104 ) Other comprehensive loss - unrealized loss on valuation of swap agreements (1,899 ) (3,036 ) (4,935 ) Reclassification of realized interest expense on swap agreements (62 ) 142 80 Noncontrolling interest contributions — 161,628 161,628 Noncontrolling interest distributions — (94,289 ) (94,289 ) Employee Long-term Incentive Plan Unit Awards 10,411 — 10,411 Reallocation of noncontrolling interests (c) (6,611 ) — (6,611 ) Balance at December 31, 2019 $ 97,670 $ 546,987 $ 644,657 Balance at January 1, 2018 $ 102,921 $ 545,519 $ 648,440 Distributions declared of $1.09 per Common OP Unit (6,888 ) — (6,888 ) Net income (loss) for the year ended December 31, 2018 2,572 (49,709 ) (47,137 ) Conversion of 117,978 Common OP Units to Common Shares by limited partners of the Operating Partnership (2,068 ) — (2,068 ) Other comprehensive income - unrealized gain on valuation of swap agreements (129 ) (681 ) (810 ) Reclassification of realized interest expense on swap agreements (3 ) 323 320 Noncontrolling interest contributions — 47,560 47,560 Noncontrolling interest distributions — (24,793 ) (24,793 ) Employee Long-term Incentive Plan Unit Awards 12,374 — 12,374 Reallocation of noncontrolling interests (c) (4,556 ) — (4,556 ) Balance at December 31, 2018 $ 104,223 $ 518,219 $ 622,442 Balance at January 1, 2017 $ 95,422 $ 494,126 $ 589,548 Distributions declared of $1.05 per Common OP Unit (6,453 ) — (6,453 ) Net income (loss) for the year ended December 31, 2017 4,159 (1,321 ) 2,838 Conversion of 81,453 Common OP Units to Common Shares by limited partners of the Operating Partnership (1,541 ) — (1,541 ) Other comprehensive loss - unrealized loss on valuation of swap agreements 85 (232 ) (147 ) Reclassification of realized interest expense on swap agreements 141 545 686 Noncontrolling interest contributions — 85,206 85,206 Noncontrolling interest distributions — (32,805 ) (32,805 ) Employee Long-term Incentive Plan Unit Awards 10,457 — 10,457 Rebalancing adjustment (c) 651 — 651 Balance at December 31, 2017 $ 102,921 $ 545,519 $ 648,440 (a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,250,603, 3,329,640 and 3,328,873 Common OP Units at December 31, 2019, 2018 and 2017, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2019, 2018 and 2017; (iii) 136,593 Series C Preferred OP Units at December 31, 2019, 2018 and 2017; and (iv) 2,673,484, 2,569,044 and 2,274,147 LTIP units at December 31, 2019, 2018 and 2017, respectively, as discussed in Share Incentive Plan ( Note 13 (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.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Assets and Liabilities in Connection With Acquisitions of Leasehold Interests	The Company recorded the following assets and liabilities in connection with acquisitions of leasehold interests: Year Ended December 31, 2019 Year Ended December 31, 2018 Amounts recorded upon acquisition of leasehold interests: (Not applicable) Right of use asset - operating lease $ 50,147 Right of use asset - finance lease 19,422 Leasehold improvements 13,354 Lease intangibles ( Note 6 ) 1,760 Lease liability - operating lease (45,293 ) Acquisition-related intangible liabilities ( Note 6 ) (359 ) Cash paid upon acquisition of leasehold interests $ 39,031
Schedule of Lease Cost	Year Ended December 31, 2019 2018 2017 Lease Cost (Not applicable) (Not applicable) Finance lease cost: Amortization of right-of-use assets $ 2,168 Interest on lease liabilities 3,737 Subtotal 5,905 Operating lease cost 4,430 Variable lease cost 164 Total lease cost $ 10,499 Other Information Weighted-average remaining lease term - finance leases (years) 42.5 Weighted-average remaining lease term - operating leases (years) 34.1 Weighted-average discount rate - finance leases 4.5 % Weighted-average discount rate - operating leases 5.8 %
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 December 31, 2019, are summarized as follows (in thousands): Year Ending December 31, Minimum Rental Revenues Minimum Rental Payments (a) 2020 $ 212,871 $ 7,040 2021 203,077 6,823 2022 181,731 6,832 2023 160,237 6,825 2024 137,451 7,008 Thereafter 563,124 312,421 Total $ 1,458,491 $ 346,949

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 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 Year Ended December 31, 2019 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 173,177 $ 122,150 $ — $ — $ 295,327 Depreciation and amortization (61,819 ) (63,624 ) — — (125,443 ) Property operating expenses, other operating and real estate taxes (47,032 ) (43,436 ) — — (90,468 ) General and administrative expenses — — — (35,416 ) (35,416 ) Impairment charge — (1,721 ) — — (1,721 ) Gain on disposition of properties 16,771 13,553 — — 30,324 Operating income 81,097 26,922 — (35,416 ) 72,603 Interest income — — 7,988 — 7,988 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 9,020 (98 ) — — 8,922 Interest expense (28,304 ) (45,484 ) — — (73,788 ) Other income 327 6,620 — — 6,947 Income tax provision — — — (1,468 ) (1,468 ) Net income (loss) 62,140 (12,040 ) 7,988 (36,884 ) 21,204 Net loss attributable to noncontrolling interests 337 31,504 — — 31,841 Net income attributable to Acadia (a) $ 62,477 $ 19,464 $ 7,988 $ (36,884 ) $ 53,045 Real estate at cost (b) $ 2,264,010 $ 1,835,532 $ — $ — $ 4,099,542 Total Assets (b) $ 2,350,833 $ 1,843,338 $ 114,943 $ — $ 4,309,114 Cash paid for acquisition of real estate and leasehold interest $ 173,892 $ 184,812 $ — $ — $ 358,704 Cash paid for development and property improvement costs $ 22,724 $ 66,546 $ — $ — $ 89,270 As of or for the Year Ended December 31, 2018 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 166,816 $ 92,865 $ — $ — $ 259,681 Depreciation and amortization (60,903 ) (56,646 ) — — (117,549 ) Property operating expenses, other operating and real estate taxes (44,060 ) (36,188 ) — — (80,248 ) General and administrative expenses — — — (34,343 ) (34,343 ) Gain on disposition of properties — 5,140 — — 5,140 Operating income 61,853 5,171 - (34,343 ) 32,681 Interest income — — 13,231 — 13,231 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 7,415 1,887 — — 9,302 Interest expense (27,575 ) (42,403 ) — — (69,978 ) Income tax provision — — — (934 ) (934 ) Net income (loss) 41,693 (35,345 ) 13,231 (35,277 ) (15,698 ) Net income attributable to noncontrolling interests 752 46,385 — — 47,137 Net income attributable to Acadia (a) $ 42,445 $ 11,040 $ 13,231 $ (35,277 ) $ 31,439 Real estate at cost (b) $ 2,069,439 $ 1,628,366 $ — $ — $ 3,697,805 Total Assets (b) $ 2,232,695 $ 1,616,472 $ 109,613 $ — $ 3,958,780 Cash paid for acquisition of real estate $ 1,343 $ 146,642 $ — $ — $ 147,985 Cash paid for development and property improvement costs $ 32,662 $ 62,172 $ — $ — $ 94,834 As of or for the Year Ended December 31, 2017 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 168,795 $ 79,757 $ — $ — $ 248,552 Depreciation and amortization (61,705 ) (43,229 ) — — (104,934 ) Property operating expenses, other operating and real estate taxes (44,169 ) (33,919 ) — — (78,088 ) General and administrative expenses — — — (33,756 ) (33,756 ) Impairment charge — (14,455 ) — — (14,455 ) Gain on disposition of properties — 48,886 — — 48,886 Operating income 62,921 37,040 — (33,756 ) 66,205 Interest income — — 29,143 — 29,143 Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties 3,735 19,636 — — 23,371 Interest expense (28,618 ) (30,360 ) — — (58,978 ) Other income 5,571 — — — 5,571 Income tax provision — — — (1,004 ) (1,004 ) Net income 43,609 26,316 29,143 (34,760 ) 64,308 Net income attributable to noncontrolling interests (1,107 ) (1,731 ) — — (2,838 ) Net income attributable to Acadia (a) $ 42,502 $ 24,585 $ 29,143 $ (34,760 ) $ 61,470 Cash paid for acquisition of real estate $ — $ 200,429 $ — $ — $ 200,429 Cash paid for development and property improvement costs $ 42,026 $ 66,116 $ — $ — $ 108,142 (a) Net income attributable to Acadia for the Core segment includes $4.7 million, $4.1 million and $0.9 million associated with one property, Town Center, for the years ended December 31, 2019, 2018 and 2017, respectively. These amounts include the results of three entities, including the unconsolidated Town Center venture and the consolidated Brandywine Holdings ( Note 4 ) and Brandywine Maintenance Corp., which on a combined basis constitute the operating results of the shopping center. (b) Real estate at cost and total assets for the Funds segment include $603.3 million and $576.1 million, or $174.7 million and $167.2 million net of non-controlling interests, related to Fund II’s City Point property for the years ended December 31, 2019 and 2018, respectively.

Share Incentive and Other Com_2

Share Incentive and Other Compensation (Tables)	12 Months Ended
	Dec. 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, 2017 46,499 $ 27.58 856,877 $ 26.99 Granted 19,442 29.85 310,551 31.80 Vested (23,430 ) 30.47 (257,124 ) 28.27 Forfeited (1,184 ) 32.65 (205 ) 32.49 Unvested at December 31, 2017 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 25,359 28.56 348,726 32.78 Vested (21,424 ) 27.12 (290,753 ) 29.30 Forfeited — — (15,679 ) 31.49 Unvested at December 31, 2019 42,390 $ 23.73 934,180 $ 28.24

Federal Income Taxes (Tables)

Federal Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of Net Income to Taxable Income	Reconciliation of GAAP net income attributable to Acadia to taxable income is as follows: Year Ended December 31, (in thousands) 2019 2018 2017 Net income attributable to Acadia $ 53,045 $ 31,439 $ 61,470 Deferred cancellation of indebtedness income — 2,050 2,050 Deferred rental and other income (a) 1,203 1,222 (934 ) Book/tax difference - depreciation and amortization (a) 21,688 23,166 21,334 Straight-line rent and above- and below-market rent adjustments (a) (10,949 ) (12,129 ) (10,559 ) Book/tax differences - equity-based compensation 7,177 6,042 5,325 Joint venture equity in earnings, net (a) 15,571 13,905 9,114 Acquisition costs (a) 63 326 1,135 Gain (loss) on disposition of properties 2,375 — (5,181 ) Book/tax differences - miscellaneous (1,473 ) (2,821 ) 930 Taxable income $ 88,700 $ 63,200 $ 84,684 Distributions declared $ 96,310 $ 89,122 $ 87,848 (a) Adjustments from certain subsidiaries and affiliates, which are consolidated for financial reporting but not for tax reporting, are included in the reconciliation item “Joint venture equity in earnings, net.”
Schedule of Tax Status of Dividends	The Company has determined that the cash distributed to the shareholders for the periods presented is characterized as follows for Federal income tax purposes: Year Ended December 31, 2019 2018 2017 Per Share % Per Share % Per Share % Ordinary income - Non-Section 199A $ — — % — — % $ 0.820 78 % Ordinary income - Section 199A 0.820 77 % 0.870 100 % — — % Qualified dividend — — % — — % — — % Capital gain 0.240 23 % — — % 0.230 22 % Total (b) $ 1.060 100 % 0.870 100 % $ 1.050 100 % (b) The fourth quarter 2019 regular dividend was $0.29 per common share, all of which is allocable to 2020. The fourth quarter 2018 regular dividend was $0.28 per common share of which approximately $0.06 was allocable to 2018 and approximately $0.22 is allocable to 2019.
Schedule of TRS Income and Provision for Income Taxes	Income taxes have been provided for using the liability method as required by ASC Topic 740, “Income Taxes.” The Company’s TRS income and provision for income taxes associated with the TRS for the periods presented are summarized as follows (in thousands): Year Ended December 31, 2019 2018 2017 TRS loss before income taxes $ (3,117 ) $ (2,609 ) $ (3,604 ) (Provision) benefit for income taxes: Federal 754 (377 ) (982 ) State and local 317 26 423 TRS net loss before noncontrolling interests (2,046 ) (2,960 ) (4,163 ) Noncontrolling interests (369 ) 4 8 TRS net loss $ (2,415 ) $ (2,956 ) $ (4,155 )
Schedule of Effective Income Tax Rate Reconciliation	The income tax provision for the Company differs from the amount computed by applying the statutory Federal income tax rate to income before income taxes as follows. Amounts are not adjusted for temporary book/tax differences (in thousands): Year Ended December 31, 2019 2018 2017 Federal tax benefit at statutory tax rate $ (655 ) $ (548 ) $ (1,225 ) TRS state and local taxes, net of Federal benefit (197 ) (165 ) (190 ) Tax effect of: Permanent differences, net 239 951 1,131 Prior year over-accrual, net — — (1,541 ) Effect of Tax Cuts and Jobs Act — — 1,982 Adjustment to deferred tax reserve 1,748 (1,530 ) — Other (112 ) 1,702 404 REIT state and local income and franchise taxes 445 524 443 Total provision (benefit) for income taxes $ 1,468 $ 934 $ 1,004

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Year Ended December 31, (dollars in thousands) 2019 2018 2017 Numerator: Net income attributable to Acadia $ 53,045 $ 31,439 $ 61,470 Less: net income attributable to participating securities (413 ) (267 ) (642 ) Income from continuing operations net of income attributable to participating securities $ 52,632 $ 31,172 $ 60,828 Denominator: Weighted average shares for basic earnings per share 84,435,826 82,080,159 83,682,789 Effect of dilutive securities: Employee unvested restricted shares — — 2,682 Denominator for diluted earnings per share 84,435,826 82,080,159 83,685,471 Basic and diluted earnings per Common Share from continuing operations attributable to Acadia $ 0.62 $ 0.38 $ 0.73 Anti-Dilutive Shares Excluded from Denominator: Series A Preferred OP Units 188 188 188 Series A Preferred OP Units - Common share equivalent 25,067 25,067 25,067 Series C Preferred OP Units 136,593 136,593 136,593 Series C Preferred OP Units - Common share equivalent 474,278 474,278 479,978 Restricted shares 40,821 36,879 41,299

Summary of Quarterly Financia_2

Summary of Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The quarterly results of operations of the Company for the years ended December 31, 2019 and 2018 are as follows (in thousands, except per share amounts): Three Months Ended (a, b, c, d, e) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Revenues $ 73,985 $ 70,229 $ 73,327 $ 77,786 Net income (loss) 2,936 (5,237 ) 8,840 14,665 Net loss attributable to noncontrolling interests 9,261 14,317 1,618 6,645 Net income attributable to Acadia 12,197 9,080 10,458 21,310 Earnings per share attributable to Acadia: Basic $ 0.15 $ 0.11 $ 0.12 $ 0.24 Diluted 0.15 0.11 0.12 0.24 Weighted average number of shares: Basic 82,037 83,704 84,888 87,058 Diluted 82,037 83,704 84,888 87,058 Cash dividends declared per Common Share $ 0.28 $ 0.28 $ 0.28 $ 0.29 (a) The quarter ended June 30, 2019 includes an impairment charge of $1.4 million and the quarter ended September 30, 2019 includes an impairment charge of $0.3 million, of which the Company’s aggregate share was $0.4 million ( Note 8 (b) The quarter ended September 30, 2019 includes an aggregate gain on disposition of two consolidated properties and one condominium unit at Fund IV and one consolidated property at Fund III of $12.1 million, of which the Company’s share was $2.8 million ( Note 2 ). (c) The quarter ended December 31, 2019 includes a net gain on disposition of a consolidated Core property of $16.3 million, of which the Company’s share was $16.7 million ( Note 2 ). (d) The quarter ended September 30, 2019 includes a deferred gain on tax credits at Fund II of which the Company’s share was $1.4 million ( Note 7 (e) Revenues for the quarters ended March 31, 2019 and June 30, 2019 have each been revised to reflect the reclassifications of credit losses of $0.8 million ( Note 1 Three Months Ended (a, b) March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Revenues $ 62,226 $ 62,201 $ 65,527 $ 69,727 Net income (4,160 ) (2,270 ) (2,597 ) (6,671 ) Net (income) loss attributable to noncontrolling interests 11,579 9,935 11,822 13,801 Net income attributable to Acadia 7,419 7,665 9,225 7,130 Earnings per share attributable to Acadia: Basic Diluted $ 0.09 $ 0.09 $ 0.11 $ 0.09 0.09 0.09 0.11 0.09 Weighted average number of shares: Basic 83,434 81,756 81,566 81,591 Diluted 83,438 81,756 81,566 81,591 Cash dividends declared per Common Share $ 0.27 $ 0.27 $ 0.27 $ 0.28 (a) Credit losses aggregating $2.5 million have been reclassified from property operating expense to revenues in each of the quarters in the year ended December 31, 2018 to conform to the current period presentation ( Note 1 ). (b) The three months ended September 30, 2018 includes an aggregate $5.1 million gain on the sales of two consolidated Fund IV properties ( Note 2 ), of which $3.9 million was attributable to noncontrolling interests

Organization, Basis of Presen_4

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	Jan. 01, 2019USD ($)	Dec. 31, 2019USD ($)propertysegmentSoftwareApplication	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		186
Number of reportable segments | segment		3
Amount of goodwill recorded and acquisition costs capitalized		$ 0
Deferred Rent Receivables, Net		48,400,000	$ 47,200,000
Allowance for doubtful accounts receivable		11,400,000	7,900,000
Capitalized internal leasing costs			1,700,000
Operating lease, right-of-use asset		60,006,000
Operating lease, liability		12,800,000
Finance lease, right-of-use asset		102,055,000
Finance lease, liability		77,657,000
Capitalized and deferred software cost		$ 200,000
Number of software applications | SoftwareApplication		2
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
REIT
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of distribute taxable income		90.00%
Percentage of taxable income.		100.00%
Buildings
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life		40 years
Building Improvements
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life		15 years
Furniture and fixtures | Minimum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life		5 years
Furniture and fixtures | Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life		20 years
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		129
Properties owned percentage		100.00%
Opportunity Funds
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of retail properties | property		57
Operating Partnership, as General Partner or Managing Member
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining funds rate of distribution to operating partnership (in percent)		20.00%
Operating Partnership, as General Partner or Managing Member | Acadia's OP Ownership
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held by Operating Partnership		95.00%	94.00%
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	12 Months Ended
	Apr. 30, 2018	Dec. 31, 2019
Operating Partnership, as General Partner or Managing Member
Variable Interest Entity [Line Items]
Total Distributions	$ 4.3
Fund II and Mervyns II
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital		28.33%
Capital Called		$ 347.1
Unfunded Commitment		$ 15
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		$ 436.4
Unfunded Commitment		$ 13.6
Equity interest held by Operating Partnership		24.54%
Preferred Return		6.00%
Total Distributions		$ 568.8
Fund IV
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital		23.12%
Capital Called		$ 438.1
Unfunded Commitment		$ 91.9
Equity interest held by Operating Partnership		23.12%
Preferred Return		6.00%
Total Distributions		$ 193.1
Fund V
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital		20.10%
Capital Called		$ 213.3
Unfunded Commitment		$ 306.7
Equity interest held by Operating Partnership		20.10%
Preferred Return		6.00%
Total Distributions		$ 11.1
Fund II
Variable Interest Entity [Line Items]
Total Distributions	$ 15

Real Estate - Schedule of Real

Real Estate - Schedule of Real Estate (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Land	$ 756,297	$ 710,469
Buildings and improvements	2,740,479	2,594,828
Tenant improvements	173,686	151,154
Construction in progress	13,617	44,092
Properties under capital lease		76,965
Finance lease, right-of-use asset	102,055
Operating lease, right-of-use asset	60,006
Total	3,846,140	3,577,508
Less: Accumulated depreciation and amortization	(490,227)	(416,657)
Operating real estate, net	3,355,913	3,160,851
Real estate under development, at cost	253,402	120,297	$ 173,702
Net investments in real estate	$ 3,609,315	$ 3,281,148

Real Estate - Schedule of Acqui

Real Estate - Schedule of Acquisitions and Conversions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Purchase Price	$ 324,339	$ 186,463
Core Portfolio
Business Acquisition [Line Items]
Purchase Price	$ 146,435	$ 1,337
Core Portfolio | 849, 907 and 912 W. Armitage - Chicago, IL
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 10,738
Core Portfolio | 8436-8452 Melrose Place - Los Angeles, CA
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 48,691
Core Portfolio | Soho Acquisitions | 41,45, 47, 51 and 53 Greene Street - New York, NY
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 87,006
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	$ 177,904	$ 149,022
Fund V | Palm Coast Landing | Palm Coast, FL
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 36,644
Fund V | Lincoln Commons | Lincoln, RI
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 54,299
Fund V | Landstown Commons | Virginia Beach, VA
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 86,961
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 - Schedule of Acq_2

Real Estate - Schedule of Acquisitions and Conversions (Parenthetical) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Aggregate purchase price	$ 324,339	$ 186,463
Soho Acquisitions | New York, NY
Business Acquisition [Line Items]
Number of real estate properties held by Acquiree | property	7
Aggregate purchase price	$ 122,000

Real Estate - Acquisitions and

Real Estate - Acquisitions and Conversions - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Capitalized acquisition costs	$ 2,600,000	$ 300,000
Debt assumed	0	0
Core Portfolio
Business Acquisition [Line Items]
Capitalized acquisition costs	2,200,000
Fund Portfolio
Business Acquisition [Line Items]
Capitalized acquisition costs	$ 400,000	$ 300,000

Real Estate - Schedule of Purch

Real Estate - Schedule of Purchase Price Allocations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Purchase Price Allocation
Land	$ 78,263	$ 38,086
Buildings and improvements	221,185	129,586
Acquisition-related intangible assets (Note 6)	34,972	26,693
Acquisition-related intangible liabilities (Note 6)	(10,081)	(7,902)
Net assets acquired	324,339	186,463
Consideration
Cash	319,673	147,985
Liabilities assumed	4,666	2,597
Existing interest in previously unconsolidated investment	0	35,881
Total consideration	$ 324,339	$ 186,463

Real Estate - Schedule of Prope

Real Estate - Schedule of Property Dispositions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Sale	$ 30,324	$ 5,140	$ 48,886
Disposal Group, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price	109,326	66,500
Gain (Loss) on Sale	$ 30,324	$ 5,140	$ 48,886
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 (Loss) on Sale	$ 2,014
Fund III | Disposal Group, Not Discontinued Operations | 3780-3858 Nostrand Avenue - New York, NY
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Aug. 22, 2019
Sale Price	$ 27,650
Gain (Loss) on Sale	$ 2,562
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 (Loss) on Sale		$ 33
Fund IV | Disposal Group, Not Discontinued Operations | 210 Bowery - 3 Residential Condos - New York, NY | Scenario One
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	May 17, 2019
Sale Price	$ 8,826
Gain (Loss) on Sale	$ (242)
Fund IV | Disposal Group, Not Discontinued Operations | 210 Bowery - 3 Residential Condos - New York, NY | Scenario Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Sep. 23, 2019
Fund IV | Disposal Group, Not Discontinued Operations | 210 Bowery - 3 Residential Condos - New York, NY | Scenario Three
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Nov. 7, 2019
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 (Loss) on Sale		$ 2,923
Fund IV | Disposal Group, Not Discontinued Operations | JFK Plaza - Waterville, ME
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Jul. 24, 2019
Sale Price	$ 7,800
Gain (Loss) on Sale	$ 2,075
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 (Loss) on Sale		$ 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
Fund IV | Disposal Group, Not Discontinued Operations | 938 W North Avenue - Chicago, IL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Sep. 27, 2019
Sale Price	$ 32,000
Gain (Loss) on Sale	$ 7,144
Core Portfolio | Disposal Group, Not Discontinued Operations | Pacesetter Park - Pomona, NY
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Oct. 28, 2019
Sale Price	$ 22,550
Gain (Loss) on Sale	$ 16,771

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	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
STATEMENTS OF INCOME
Gain on disposition of properties	$ 30,324	$ 5,140	$ 48,886
Disposal Group, Not Discontinued Operations
STATEMENTS OF INCOME
Revenues	7,295	11,633	23,617
Expenses	(6,403)	(10,084)	(31,651)
Gain on disposition of properties	30,324	5,140	48,886
Net income attributable to noncontrolling interests	(10,515)	(4,742)	(29,233)
Net income attributable to Acadia	$ 20,701	$ 1,947	$ 11,619

Real Estate - Schedule of Devel

Real Estate - Schedule of Development in Process Activities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property
Property, Plant and Equipment [Line Items]
Number of properties under development | property	3	3	5
Real estate under development, beginning balance	$ 253,402	$ 120,297	$ 173,702
Transfers In	117,344	0
Capitalized Costs	25,580	45,867
Transfers Out	$ 9,819	$ 99,272
Core Portfolio
Property, Plant and Equipment [Line Items]
Number of properties under development | property	0	1	2
Real estate under development, beginning balance	$ 60,863	$ 7,759	$ 21,897
Transfers In	57,342	0
Capitalized Costs	5,581	6,320
Transfers Out	$ 9,819	$ 20,458
Fund Portfolio | Fund II
Property, Plant and Equipment [Line Items]
Number of properties under development | property	0	0	0
Real estate under development, beginning balance	$ 10,703	$ 7,462	$ 4,908
Transfers In	0	0
Capitalized Costs	3,241	2,554
Transfers Out	$ 0	$ 0
Fund Portfolio | Fund III
Property, Plant and Equipment [Line Items]
Number of properties under development | property	1	1	2
Real estate under development, beginning balance	$ 36,240	$ 21,242	$ 63,939
Transfers In	12,313	0
Capitalized Costs	2,685	36,117
Transfers Out	$ 0	$ 78,814
Fund Portfolio | Fund IV
Property, Plant and Equipment [Line Items]
Number of properties under development | property	2	1	1
Real estate under development, beginning balance	$ 145,596	$ 83,834	$ 82,958
Transfers In	47,689	0
Capitalized Costs	14,073	876
Transfers Out	$ 0	$ 0

Real Estate - Real Estate Under

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

Notes Receivable, Net - Schedul

Notes Receivable, Net - Schedule of Notes Receivable (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)debtinstrument	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net carrying amount of notes receivable	$ 114,943	$ 111,775	$ 160,991	$ 283,125
Number of instruments held | debtinstrument	7
Core Portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net carrying amount of notes receivable	$ 76,467	58,637
Number of instruments held | debtinstrument	5
Core Portfolio | Minimum
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Maturity Date	2020-04
Effective interest rate	4.70%
Core Portfolio | Maximum
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Maturity Date	2026-04
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	$ 33,170	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
Maturity Date	2021-02
Effective interest rate	15.30%

Notes Receivable, Net - Sched_2

Notes Receivable, Net - Schedule of Notes Receivable (Parenthetical) (Details) $ in Thousands	Dec. 31, 2019USD ($)NotesReceivable	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Notes receivable, net	$ 114,943	$ 111,775	$ 160,991	$ 283,125
OP Unit Holders
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of notes receivable | NotesReceivable	2
Notes receivable, net	$ 6,500	$ 4,800

Notes Receivable, Net - Additio

Notes Receivable, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Proceeds from notes receivable	$ 15,250	$ 26,000	$ 32,000
Note receivable exchanged for sale of real estate	13,530
Additional advance	326,268	187,173	$ 156,344
Core Portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Proceeds from notes receivable		26,000
Note receivable accrued interest		200
Additional advance	4,300
Mortgage loans on real estate interest until maturity	400
Note receivable including accrued interest	20,800
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
Core Portfolio | Town Center
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
Pacesetter Park
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Note receivable exchanged for sale of real estate	$ 13,500
Effective interest rate	5.10%
Fund IV
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Proceeds from notes receivable	$ 15,300
Note receivable accrued interest	10,000
Fund II
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Note receivable accrued interest	400	800
Fund III
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Note receivable accrued interest	$ 4,700	4,700
Additional advance		$ 200

Investments in and Advances t_3

Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Mar. 28, 2018	Nov. 16, 2017
Schedule of Equity Method Investments [Line Items]
Due to related parties	$ (1,902)	$ (461)
Other	2,334	556
Investments in and advances to unconsolidated affiliates	305,097	262,410
Distributions in excess of income from, and investments in, unconsolidated affiliates	$ 15,362	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	94.23%
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	$ 207	206
Fund III
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 224	227
Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments	$ 12,702	3,236
Fund IV Other Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	98.57%
Equity method investments	$ 14,733	14,540
650 Bald Hill Road
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 12,450	12,880
Fund IV
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 39,885	$ 30,656
Fund V Family Center at Riverdale
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	89.42%
Equity method investments	$ 13,329
Tri City Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 10,250
Frederick County Acquisitions
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 15,070
Fund V
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 38,649
Core Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	75.22%	61.11%		22.22%
Equity method investments	$ 225,907	$ 231,432	$ 22,300	$ 61,600
Other	$ 1,700
Core Portfolio | 840 N. Michigan
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	88.43%
Equity method investments	$ 61,260	65,013
Core Portfolio | Renaissance Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20.00%
Equity method investments	$ 31,815	32,458
Core Portfolio | Gotham Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Equity method investments	$ 29,466	29,550
Core Portfolio | Town Center
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	75.22%
Equity method investments	$ 97,674	99,758
Core Portfolio | Georgetown Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments	$ 4,498	4,653
Core Portfolio | 1238 Wisconsin Avenue
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	80.00%
Equity method investments	$ 1,194
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	$ 15,362	$ 15,623

Investments in and Advances t_4

Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 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	$ 12,702	3,236
Cumulative capital contribution, percentage	15.00%
Cumulative capital contribution	$ 5,900	3,000
Preferred return percentage	9.00%
Preferred return	$ 9,400	$ 2,800

Investments in and Advances t_5

Investments in and Advances to Unconsolidated Affiliates - Core Portfolio - Additional Information (Details)	Aug. 08, 2019USD ($)	Jan. 24, 2019USD ($)ft²	Mar. 28, 2018USD ($)	Nov. 16, 2017USD ($)	May 01, 2017USD ($)	Nov. 30, 2019USD ($)	Apr. 29, 2016USD ($)	Dec. 31, 2019USD ($)ft²	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Schedule of Equity Method Investments [Line Items]
Purchase Price								$ 324,339,000	$ 186,463,000
Cost method investments								2,334,000	556,000
Notes receivable, net								$ 114,943,000	111,775,000	$ 160,991,000	$ 283,125,000
Acadia Brandywine Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage								22.22%
Brandywine Portfolio
Schedule of Equity Method Investments [Line Items]
Preferred return								$ 5,600,000
Core Portfolio
Schedule of Equity Method Investments [Line Items]
Purchase Price								146,435,000	1,337,000
Cost method investments								1,700,000
Gain (loss) on investment								0
Notes receivable, net								$ 76,467,000	58,637,000
Note receivable accrued interest									$ 200,000
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			$ 22,300,000	$ 61,600,000				$ 225,907,000	$ 231,432,000
Gain on equity method investment			12,700,000	34,500,000
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								$ 31,815,000	$ 32,458,000
Core Portfolio | Fifth Wall Ventures Retail Fund, L.P.
Schedule of Equity Method Investments [Line Items]
Cost method investments	$ 1,800,000							$ 100,000
Distribution from cost method investment						$ 200,000
Maximum amount commitment to invest	$ 5,000,000
Cost method investment ownership percentage	5.00%
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							$ 140,000,000
Note receivable exchanged			22,000,000		$ 16,000,000
Notes receivable, net					153,400,000			$ 38,700,000
Note receivable accrued interest			$ 300,000		$ 300,000
Core Portfolio | Brandywine Portfolio | Exchange Transaction One
Schedule of Equity Method Investments [Line Items]
Note receivable exchanged				16,000,000
Note receivable accrued interest				600,000
Core Portfolio | Brandywine Portfolio | Exchange Transaction Two
Schedule of Equity Method Investments [Line Items]
Note receivable exchanged				60,700,000
Note receivable accrued interest				$ 900,000
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					$ 16,300,000
Gain on equity method investment					$ 9,800,000
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		$ 10,700,000
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. 21, 2019USD ($)ft²

Jun. 29, 2019USD ($)

Apr. 30, 2019USD ($)ft²

Mar. 19, 2019USD ($)ft²

Aug. 29, 2018USD ($)property

Jun. 29, 2018USD ($)property

May 15, 2018USD ($)

Jan. 18, 2018USD ($)property

Dec. 31, 2019USD ($)property

Sep. 30, 2019USD ($)property

Sep. 30, 2018USD ($)

Dec. 31, 2019USD ($)property

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2014propertyJointVenture

Oct. 31, 2018segment

Schedule of Equity Method Investments [Line Items]

Purchase Price

$ 324,339,000

$ 186,463,000

Number of retail properties | property

186

186

Proceeds from the disposition of properties, net

$ 88,738,000

$ 63,866,000

$ 260,711,000

Disposed of by sale

Schedule of Equity Method Investments [Line Items]

Number of retail properties | property

2

Gain (loss) on disposal

$ 16,300,000

$ 12,100,000

$ 5,100,000

Fund V Family Center at Riverdale

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership percentage

89.42%

89.42%

Tri City Plaza

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership percentage

90.00%

90.00%

Fund III's Storage Post venture

Schedule of Equity Method Investments [Line Items]

Distribution from cost method investment

$ 1,600,000

$ 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

$ 400,000

$ 800,000

BSP I and BSP II

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership percentage

50.00%

Number of Joint Ventures | JointVenture

2

Broughton St. Portfolio Savannah, GA

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership percentage

50.00%

50.00%

Number of businesses acquired | property

23

Number of retail properties | property

13

13

Fund I Vs Broughton Street Portfolio Venture

Schedule of Equity Method Investments [Line Items]

Number of retail properties | property

2

8

Losses on cost method investments

$ 1,000,000

Fund I Vs Broughton Street Portfolio Venture | Partnership Interest | Maximum

Schedule of Equity Method Investments [Line Items]

Losses on cost method investments

$ 100,000

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

2

Proceeds from the disposition of properties, net

$ 2,000,000

$ 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)

BSP I

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership percentage

100.00%

BSP I | Consolidated Entity

Schedule of Equity Method Investments [Line Items]

Number of retail properties | segment

11

BSP II | Unconsolidated Affiliates

Schedule of Equity Method Investments [Line Items]

Number of retail properties | property

2

2

Riverdale, Utah | Fund V Family Center at Riverdale

Schedule of Equity Method Investments [Line Items]

Joint venture interest percentage

99.35%

Undivided interest in property percentage

90.00%

Square footage of real estate property (in square feet) | ft²

428,000

Purchase Price

$ 48,500,000

Vernon, Connecticut | Tri City Plaza

Schedule of Equity Method Investments [Line Items]

Joint venture interest percentage

90.00%

Square footage of real estate property (in square feet) | ft²

300,000

Purchase Price

$ 36,700,000

Frederick County, Maryland | 225,000 Square Foot Property

Schedule of Equity Method Investments [Line Items]

Joint venture interest percentage

90.00%

Square footage of real estate property (in square feet) | ft²

225,000

Purchase Price

$ 21,800,000

Frederick County, Maryland | 300,00 Square Foot Property

Schedule of Equity Method Investments [Line Items]

Joint venture interest percentage

90.00%

Square footage of real estate property (in square feet) | ft²

300,000

Purchase Price

$ 33,100,000

Investments in and Advances t_7

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Additional Information (Details) - Equity Method Investee - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Related party revenue	$ 0.3	$ 0.5	$ 0.7
Expenses, related party	$ 1.3	$ 1.6	$ 1.9

Investments in and Advances t_8

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Combined and Condensed Balance Sheets
Real estate under development	$ 253,402	$ 120,297
Other assets	190,658	206,408
Total assets	4,309,114	3,958,780
Total liabilities and equity	4,309,114	3,958,780
Cost method investments	2,334	556
Company's share of distributions in excess of income from and investments in unconsolidated affiliates	15,362	15,623
Investments in and advances to unconsolidated affiliates	305,097	262,410
Unconsolidated Affiliates
Combined and Condensed Balance Sheets
Rental property, net	656,265	487,846
Real estate under development	1,341
Other assets	85,540	89,890
Total assets	743,146	577,736
Mortgage notes payable	502,036	408,967
Other liabilities	77,785	54,585
Partners’ equity	163,325	114,184
Total liabilities and equity	743,146	577,736
Company's share of accumulated equity	186,864	139,028
Basis differential	100,962	103,812
Deferred fees, net of portion related to the Company's interest	1,270	3,646
Amounts payable by the Company	(1,902)	(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	287,194	246,025
Cost method investments	2,541	762
Company's share of distributions in excess of income from and investments in unconsolidated affiliates	15,362	15,623
Investments in and advances to unconsolidated affiliates	$ 305,097	$ 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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Combined and Condensed Statements of Income
Revenues	$ 77,786	$ 73,327	$ 70,229	$ 73,985	$ 69,727	$ 65,527	$ 62,201	$ 62,226	$ 295,327	$ 259,681	$ 248,552
Operating and other expenses									(253,048)	(232,140)	(231,233)
Depreciation and amortization									(125,443)	(117,549)	(104,934)
Company’s share of equity in net income of unconsolidated affiliates									11,772	12,345	26,039
Company’s equity in earnings of unconsolidated affiliates									8,922	9,302	23,371
Unconsolidated Affiliates
Combined and Condensed Statements of Income
Revenues									88,585	80,184	83,222
Operating and other expenses									(24,624)	(23,586)	(24,711)
Interest expense									(21,874)	(19,954)	(18,733)
Depreciation and amortization									(25,358)	(22,228)	(24,192)
Loss on debt extinguishment											(154)
(Loss) gain on disposition of properties										(1,673)	18,957
Net income attributable to unconsolidated affiliates									16,729	12,743	34,389
Operating Partnership, as General Partner or Managing Member
Combined and Condensed Statements of Income
Basis differential amortization									$ (2,850)	$ (3,043)	$ (2,668)

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	Dec. 31, 2019	Dec. 31, 2018
Other Assets, Net:
Lease intangibles, net (Note 6)	$ 116,820	$ 115,939
Deferred charges, net	28,746	28,619
Prepaid expenses	18,873	18,422
Other receivables	3,996	2,896
Accrued interest receivable	9,872	17,046
Due from seller	3,682	4,000
Deposits	1,853	4,611
Corporate assets, net	1,565	1,953
Income taxes receivable	1,755	2,070
Derivative financial instruments (Note 8)	2,583	7,018
Deferred tax assets	913	2,032
Due from related parties		1,802
Other assets, net	190,658	206,408
Deferred Charges, Net:
Deferred leasing and other costs	49,081	45,011
Deferred financing costs related to line of credit	10,051	8,960
Deferred costs, gross	59,132	53,971
Accumulated amortization	(30,386)	(25,352)
Deferred charges, net	28,746	28,619
Accounts Payable and Other Liabilities:
Lease intangibles, net (Note 6)	82,926	95,045
Finance lease, liability	77,657
Accounts payable and accrued expenses	68,838	65,215
Lease liability - operating leases, net (Note 11)	56,762
Derivative financial instruments (Note 8)	39,061	7,304
Deferred income	33,682	34,052
Tenant security deposits, escrow and other	12,590	10,588
Capital lease obligations (Note 11)		71,111
Other		2,757
Accounts payable and other liabilities	$ 371,516	$ 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	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	$ 267,188	$ 234,190
Amortizable Intangible Assets, Accumulated Amortization	(150,368)	(118,251)
Amortizable Intangible Assets, Net Carrying Amount	116,820	115,939
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Gross Carrying Amount	(160,721)	(152,188)
Amortizable Intangible Liabilities, Accumulated Amortization	78,315	57,721
Amortizable Intangible Liabilities, Net Carrying Amount	(82,406)	(94,467)
Above-market Ground Lease, Gross	(671)	(671)
Above-market Ground Lease, Accumulated Amortization	151	93
Above-market Ground Lease, Net	(520)	(578)
Finite-Lived Intangible Liabilities, Gross	(161,392)	(152,859)
Finite-Lived Intangible Liabilities, Accumulated Amortization	78,466	57,814
Finite-Lived Intangible Liabilities, Net	(82,926)	(95,045)
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	249,961	216,021
Amortizable Intangible Assets, Accumulated Amortization	(137,108)	(105,972)
Amortizable Intangible Assets, Net Carrying Amount	112,853	110,049
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Net Carrying Amount	(78,439)
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	17,227	18,169
Amortizable Intangible Assets, Accumulated Amortization	(13,260)	(12,279)
Amortizable Intangible Assets, Net Carrying Amount	$ 3,967	$ 5,890

Lease Intangibles - Additional

Lease Intangibles - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Below market rents, acquired	$ 10.4	$ 7.9
Below market rents acquired, weighted average useful life	21 years 8 months 12 days	20 years 6 months
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 36.1	$ 24.2
Acquired intangible assets, weighted average useful life	7 years 10 months 24 days	5 years 2 months 12 days
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 0.6	$ 2.5
Acquired intangible assets, weighted average useful life	6 years 8 months 12 days	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	Dec. 31, 2019	Dec. 31, 2018
Acquired Lease Intangibles [Abstract]
Net Increase In Lease Revenues, Total	$ 82,406	$ 94,467
Amortizable Intangible Assets, Net Carrying Amount	(116,820)	(115,939)
In-place lease intangible assets
Acquired Lease Intangibles [Abstract]
2020, Net Increase In Lease Revenues	7,177
2021, Net Increase In Lease Revenues	6,717
2022, Net Increase In Lease Revenues	6,196
2023, Net Increase In Lease Revenues	6,149
2024, Net Increase In Lease Revenues	5,706
Thereafter, Net Increase In Lease Revenues	46,494
Net Increase In Lease Revenues, Total	78,439
2020, Increase to Amortization	(27,827)
2021, Increase to Amortization	(21,053)
2022, Increase to Amortization	(15,160)
2023, Increase to Amortization	(11,578)
2024, Increase to Amortization	(8,931)
Thereafter, Increase to Amortization	(28,304)
Amortizable Intangible Assets, Net Carrying Amount	(112,853)	$ (110,049)
2020, Reduction of Rent Expense	58
2021, Reduction of Rent Expense	58
2022, Reduction of Rent Expense	58
2023, Reduction of Rent Expense	58
2024, Reduction of Rent Expense	58
Thereafter, Reduction of Rent Expense	230
Reduction of Rent Expense, Total	520
2020 Net (Expense) Income	(20,592)
2021 Net (Expense) Income	(14,278)
2022 Net (Expense) Income	(8,906)
2023 Net (Expense) Income	(5,371)
2024 Net (Expense) Income	(3,167)
Thereafter, Net (Expense) Income	18,420
Total, Net (Expense) Income	$ (33,894)

Debt - Summary of Consolidated

Debt - Summary of Consolidated Indebtedness (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,717,928	$ 1,560,333
Net unamortized debt issuance costs	(10,383)	(10,541)
Unamortized fair market value of assumed debt	651	753
Mortgage and other notes payable, net	1,170,076	1,017,288
Unsecured notes payable, net	477,320	533,257
Total Indebtedness	1,708,196	1,550,545
Mortgages
Debt Instrument [Line Items]
Net unamortized debt issuance costs	(10,078)	(10,173)
Unamortized fair market value of assumed debt	651	753
Mortgage and other notes payable, net	$ 1,170,076	1,017,288
Mortgages | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.70%
Unsecured Debt
Debt Instrument [Line Items]
Net unamortized debt issuance costs	$ (305)	(368)
Unsecured notes payable, net	$ 477,320	533,257
Core Portfolio | Minimum
Debt Instrument [Line Items]
Maturity Date	2020-04
Core Portfolio | Maximum
Debt Instrument [Line Items]
Maturity Date	2026-04
Core Portfolio | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Core Portfolio | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
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	$ 257,735	$ 260,854
Core Portfolio | Mortgages | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.65%
Core Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 176,176	$ 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	$ 81,559	$ 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	4.54%	5.67%
Maturity Date	2028-11
Core Portfolio | Unsecured Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 350,000	$ 350,000
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans - Swapped
Debt Instrument [Line Items]
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	5.02%	3.59%
Core Portfolio | Unsecured Debt | Term Loans
Debt Instrument [Line Items]
Long-term debt, gross		$ 383
Core Portfolio | Unsecured Debt | Term Loans | LIBOR
Debt Instrument [Line Items]
Interest rate, stated percentage		1.25%
Maturity Date	2023-03
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped
Debt Instrument [Line Items]
Maturity Date	2022-03
Long-term debt, gross	$ 60,800
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	2.49%
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.02%
Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,403,324	$ 1,001,658
Variable Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 314,604	558,675
Fund II | Fund Portfolio
Debt Instrument [Line Items]
Maturity Date	2020-12
Long-term debt, gross	$ 24,225
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	$ 243,298	224,587
Fund II | Fund Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Interest rate, stated percentage	4.75%
Maturity Date	2020-05
Long-term debt, gross	$ 200,000	$ 205,262
Fund II | Fund Portfolio | Mortgages | Fixed Rate | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage		1.00%
Fund II | Fund Portfolio | Mortgages | Fixed Rate | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage		4.75%
Fund II | Fund Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Interest rate, stated percentage	2.88%	4.27%
Maturity Date	2021-11
Long-term debt, gross	$ 19,073	$ 19,325
Fund II | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR
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	2.75%
Fund III | Fund Portfolio | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.10%
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 74,554	$ 90,096
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Maturity Date	2020-06
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.10%	4.65%
Maturity Date	2021-01
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	1.75%
Fund IV | Fund Portfolio | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Fund IV | Fund Portfolio | Mortgages
Debt Instrument [Line Items]
Long-term debt, gross	$ 267,903	$ 313,095
Fund IV | Fund Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 8,189	$ 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	$ 102,699	$ 71,841
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | Minimum
Debt Instrument [Line Items]
Maturity Date	2020-03
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	3.48%	3.67%
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.61%	4.23%
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 157,015	$ 233,065
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%	1.60%
Maturity Date	2020-02
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.40%	3.95%
Maturity Date	2021-08
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 87,625	$ 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	2020-12
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%	2.75%
Maturity Date	2021-06
Fund V | Fund Portfolio | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Fund V | Fund Portfolio | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.20%
Fund V | Fund Portfolio | Mortgages
Debt Instrument [Line Items]
Long-term debt, gross	$ 336,013	$ 138,076
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Long-term debt, gross	$ 334,626	$ 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	2024-12
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.95%	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	$ 1,387	$ 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	1.50%
Maturity Date	2021-02
Fund V | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.20%
Maturity Date	2024-12
Fund V | Fund Portfolio | Unsecured Debt | Subscription Line
Debt Instrument [Line Items]
Long-term debt, gross		$ 102,800
Fund V | Fund Portfolio | Unsecured Debt | Subscription Line | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.60%
Maturity Date	2020-05

Debt - Summary of Consolidate_2

Debt - Summary of Consolidated Indebtedness (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,717,928	$ 1,560,333
Variable-rate debt that subject to interest cap agreements
Debt Instrument [Line Items]
Long-term debt, gross	143,300	143,800
Total Debt - Variable Rate Debt Fixed with Interest Rate Swap Agreements
Debt Instrument [Line Items]
Long-term debt, gross	948,800	$ 609,900
Core Portfolio | Interest Rate Swaps
Debt Instrument [Line Items]
Long-term debt, gross	$ 70,200
Minimum | Core Portfolio | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Minimum | Core Portfolio | Unsecured Notes Payable | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Minimum | Core Portfolio | Unsecured Line of Credit [Member] | 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	$ 24,225
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	2.75%
Fund III | Maximum | Fund Portfolio | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.10%
Fund IV | Minimum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Fund IV | Maximum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Fund V | Minimum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Fund V | Maximum | Fund Portfolio | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.20%

Debt - Credit Facility - Additi

Debt - Credit Facility - Additional Information (Details) - USD ($)	Oct. 08, 2019	Feb. 20, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 750,000
Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000
Maturity date	Mar. 31, 2023
Unsecured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000	$ 150,000,000
Basis spread on variable rate		1.35%
Debt instrument facility fee		0.20%
Maturity date	Mar. 31, 2022
Unsecured Debt | Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000	$ 500,000,000
Unsecured Debt | $300 Million Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000	$ 350,000,000
Basis spread on variable rate		1.25%

Debt - Mortgage Payable - Addit

Debt - Mortgage Payable - Additional Information (Details)	Nov. 09, 2017USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)propertyloan	Dec. 31, 2018USD ($)propertyloanderivative	Dec. 31, 2012USD ($)
Debt Instrument [Line Items]
Amount drawn on loan			$ 1,170,076,000	$ 1,017,288,000
Loan amount drew down			60,800,000	0
Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, notional amount			156,000,000
Mortgages
Debt Instrument [Line Items]
Borrowings, amount			258,900,000
Scheduled principal payment			5,900,000
Amount drawn on loan			$ 1,170,076,000	$ 1,017,288,000
Number of properties collateralized | property			44	43
Mortgages | Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, notional amount				$ 136,600,000
Number of interest rate derivatives held | derivative				4
Derivative fixed interest rate				2.86%
Mortgages | Maturing from May 2019 to January 2021
Debt Instrument [Line Items]
Number of mortgage loans | loan			3
Borrowings, amount			$ 69,000,000
Mortgages | Maturing from April 2022 though December 2024.
Debt Instrument [Line Items]
Borrowings, amount			$ 71,800,000
Mortgages | Maturities Ranging from November 2019 through January 2020
Debt Instrument [Line Items]
Number of mortgage loans | loan			3
Borrowings, amount			$ 135,900,000
Mortgages | Maturing Ranging from December 2020 though May 2021
Debt Instrument [Line Items]
Borrowings, amount			125,300,000
Mortgages | Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, notional amount			$ 283,600,000
Derivative weighted average interest rate			1.78%
Fund II | New Market Tax Credit
Debt Instrument [Line Items]
Income recognized from tax credit transactions		$ 5,000,000
Percentage of tax credits on qualifying invested equity loans		39.00%
Transfer of tax credit transactions to investors exchange amount					$ 5,200,000
Redemption of loan expiration period			7 years
Fund II | New Market Tax Credit | Other Income
Debt Instrument [Line Items]
Income recognized from tax credit transactions			$ 1,400,000
Fund II | City Point Project | New Market Tax Credit
Debt Instrument [Line Items]
Income recognized from tax credit transactions		$ 5,000,000
Fund II | Mortgages
Debt Instrument [Line Items]
Number of mortgage loans | loan			1
Fund V | Mortgages
Debt Instrument [Line Items]
Number of mortgage loans | loan			5	4
Borrowings, amount				$ 109,500,000
Fund IV | Mortgages
Debt Instrument [Line Items]
Number of mortgage loans | loan			3
Repayments of debt			$ 38,200,000
Number of notes repaid | loan				3
Fund IV | Mortgages One
Debt Instrument [Line Items]
Repayments of debt				$ 27,200,000
Fund IV | Mortgages Two
Debt Instrument [Line Items]
Repayments of debt			18,400,000
Fund III | Mortgages
Debt Instrument [Line Items]
Repayments of debt			4,700,000
Fund III | Mortgages One
Debt Instrument [Line Items]
Repayments of debt			9,800,000
Fund III | Construction Loans
Debt Instrument [Line Items]
Loan amount drew down				24,600,000
Core Portfolio
Debt Instrument [Line Items]
Derivative, notional amount			562,560,000
Core Portfolio | Maturing In 2028
Debt Instrument [Line Items]
Amount drawn on loan				50,000,000
Core Portfolio | Mortgages
Debt Instrument [Line Items]
Repayments of debt				40,400,000
Scheduled principal payment				$ 6,700,000
Number of notes repaid | loan				1
Core Portfolio | Mortgages | Brandywine Portfolio
Debt Instrument [Line Items]
Debt default, amount			$ 26,300,000	$ 26,300,000
Debt instrument, maturity date			Jul. 1, 2016
Interest rate, stated percentage			6.00%
Debt default interest			5.00%
Claim amount exclusive of accruing interest, default interest, fees and costs	$ 33,000,000
Core Portfolio | Mortgages | Maturing In 2028
Debt Instrument [Line Items]
Borrowings, amount				$ 73,500,000
LIBOR | Interest Rate Swaps
Debt Instrument [Line Items]
Derivative weighted average interest rate			2.43%
LIBOR | Mortgages
Debt Instrument [Line Items]
Basis spread on variable rate			1.70%
LIBOR | Mortgages | Maturing from May 2019 to January 2021
Debt Instrument [Line Items]
Basis spread on variable rate			2.08%
LIBOR | Mortgages | Maturing from April 2022 though December 2024.
Debt Instrument [Line Items]
Basis spread on variable rate			1.86%
LIBOR | Mortgages | Maturities Ranging from November 2019 through January 2020
Debt Instrument [Line Items]
Basis spread on variable rate			3.65%
LIBOR | Mortgages | Maturing Ranging from December 2020 though May 2021
Debt Instrument [Line Items]
Basis spread on variable rate			2.96%
LIBOR | Fund V | Mortgages
Debt Instrument [Line Items]
Basis spread on variable rate				1.99%
LIBOR | Fund IV | Mortgages
Debt Instrument [Line Items]
Basis spread on variable rate			2.35%
LIBOR | Fund IV | Mortgages One
Debt Instrument [Line Items]
Basis spread on variable rate				2.81%
LIBOR | Fund III | Mortgages
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
LIBOR | Core Portfolio | Mortgages
Debt Instrument [Line Items]
Basis spread on variable rate				1.65%
LIBOR | Core Portfolio | Mortgages | Maturing In 2028
Debt Instrument [Line Items]
Basis spread on variable rate				1.50%

Debt - Unsecured Notes Payable

Debt - Unsecured Notes Payable - Additional Information (Details) - USD ($)	Dec. 31, 2019	Oct. 08, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt outstanding	$ 1,717,928,000		$ 1,560,333,000
Maximum borrowing capacity		$ 750,000
Letters of credit, outstanding amount	19,800,000		19,700,000
Core Portfolio
Debt Instrument [Line Items]
Derivative, notional amount	562,560,000
Fund Portfolio | Fund II
Debt Instrument [Line Items]
Long-term debt outstanding	24,225,000
Derivative, notional amount	42,373,000
Fund Portfolio | Fund IV
Debt Instrument [Line Items]
Derivative, notional amount	193,299,000
Fund Portfolio | Fund V
Debt Instrument [Line Items]
Derivative, notional amount	334,626,000
Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, notional amount	$ 156,000,000
Interest Rate Swaps | LIBOR
Debt Instrument [Line Items]
Derivative weighted average interest rate	2.43%
Interest Rate Swaps | Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding	$ 70,200,000
Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 600,000,000
Unsecured Debt | Fund IV | Letter of Credit
Debt Instrument [Line Items]
Letters of credit, outstanding amount	4,100,000		7,400,000
Unsecured Debt | Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding	350,000,000		350,000,000
Unsecured Notes Payable | Unsecured Debt
Debt Instrument [Line Items]
Debt available balance	152,500,000		54,800,000
Unsecured Notes Payable | Unsecured Debt | Fund Portfolio | Fund II
Debt Instrument [Line Items]
Long-term debt outstanding	40,000,000		40,000,000
Three Hundred And Fifty Millions Term Loan | Unsecured Debt | Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding	350,000,000		350,000,000
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	79,200,000		40,800,000
Long-term line of credit, noncurrent	79,200,000		40,800,000
Remaining borrowing capacity	0		0
Subscription Line | Unsecured Debt | Fund IV
Debt Instrument [Line Items]
Maximum borrowing capacity	15,000,000		27,000,000
Long-term line of credit, noncurrent	8,400,000		0
Remaining borrowing capacity	2,500,000		7,600,000
Subscription Line | Unsecured Debt | Fund V
Debt Instrument [Line Items]
Maximum borrowing capacity	150,000,000
Long-term line of credit, noncurrent	0
Remaining borrowing capacity	$ 150,000,000
Subscription Line | Unsecured Debt | Fund Portfolio | Fund V
Debt Instrument [Line Items]
Long-term debt outstanding			102,800,000
Remaining borrowing capacity			$ 47,200,000

Debt - Unsecured Revolving Line

Debt - Unsecured Revolving Lines of Credit - Additional Information (Details) - USD ($)	Dec. 31, 2019	Oct. 08, 2019	Dec. 31, 2018	Feb. 20, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 750,000
Letters of credit, outstanding amount	$ 19,800,000		$ 19,700,000
Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		600,000,000
Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 250,000,000		$ 150,000,000
Core Portfolio | Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Debt available balance	173,600,000		137,700,000
Maximum borrowing capacity	250,000,000		150,000,000
Credit facility amount outstanding	60,800,000		0
Letters of credit, outstanding amount	$ 15,600,000		$ 12,300,000

Debt - Scheduled Principal Repa

Debt - Scheduled Principal Repayments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 437,329
2021	287,723
2022	167,514
2023	415,476
2024	211,991
Thereafter	197,895
Long-term debt and convertible notes payable	1,717,928	$ 1,560,333
Unamortized premium	651	753
Net unamortized debt issuance costs	(10,383)	(10,541)
Total Indebtedness	$ 1,708,196	$ 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	Dec. 31, 2019	Dec. 31, 2018
Assets
Derivative financial instruments	$ 2,583	$ 7,018
Liabilities
Derivative financial instruments	39,061	7,304
Recurring | Level 1
Assets
Money market funds	0	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	2,583	7,018
Liabilities
Derivative financial instruments	39,061	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		12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Gain on disposition of properties			$ 30,324,000	$ 5,140,000	$ 48,886,000
Impairment charge	$ 300,000	$ 1,400,000	1,721,000		14,455,000
Reclassification adjustment related to derivatives from AOCI to interest expense			5,200,000
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 charge				0
Nonrecurring | Disposal group, held-for-sale | Fund IV | 210 Bowery property
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Gain on disposition of properties				0
Impairment charge	300,000	1,400,000		$ 0
Nonrecurring | Disposal group, held-for-sale | Property Classified As Held For Sale At September 30, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge					3,800,000
Nonrecurring | Disposal group, held-for-sale | Property Classified As Held For Sale At December 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge					10,600,000
Nonrecurring | Disposal group, held-for-sale | Noncontrolling Interests | Fund IV | 210 Bowery property
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge	$ 200,000	$ 1,100,000
Nonrecurring | Disposal group, held-for-sale | Noncontrolling Interests | Property Classified As Held For Sale At September 30, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge					2,700,000
Nonrecurring | Disposal group, held-for-sale | Noncontrolling Interests | Property Classified As Held For Sale At December 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge					$ 7,600,000

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Schedule of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (39,061)	$ (7,304)
Fair value, asset derivatives	2,583	7,018
Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	156,000
Core Portfolio
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	562,560
Fair value, derivatives, net	$ (33,294)	(310)
Core Portfolio | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2020-07
Fair value, liability derivatives	$ (11,800)	(2,900)
Core Portfolio | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	423,442
Fair value, liability derivatives	(33,750)	(6,332)
Core Portfolio | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	139,118
Fair value, asset derivatives	$ 456	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	1.71%
Core Portfolio | Interest Rate Swaps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2015-11
Derivative Maturity Date	2020-07
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	2016-07
Derivative Maturity Date	2021-06
Strike Rate	1.31%
Fund Portfolio | Fund II
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 42,373
Fair value, derivatives, net	(138)	108
Fund Portfolio | Fund II | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 19,073
Derivative Effective Date	2014-10
Derivative Maturity Date	2021-11
Fair value, liability derivatives	$ (139)	0
Fund Portfolio | Fund II | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Fair value, asset derivatives	$ 0	108
Fund Portfolio | Fund II | Interest Rate Swaps | Minimum | Other Liabilities
Derivatives, Fair Value [Line Items]
Strike Rate	2.88%
Fund Portfolio | Fund II | Interest Rate Swaps | Maximum | Other Liabilities
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	$ 1	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 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
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 IV
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 193,299
Fair value, derivatives, net	(790)	859
Fund Portfolio | Fund IV | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	88,304
Fair value, liability derivatives	(812)	0
Fund Portfolio | Fund IV | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 14,395
Derivative Effective Date	2019-12
Fair value, asset derivatives	$ 22	851
Fund Portfolio | Fund IV | Interest Rate Swaps | Minimum | Other Liabilities
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 | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Maturity Date	2022-04
Strike Rate	1.48%
Fund Portfolio | Fund IV | Interest Rate Swaps | Maximum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-05
Derivative Maturity Date	2022-12
Strike Rate	4.00%
Fund Portfolio | Fund IV | Interest Rate Swaps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Maturity Date	2022-12
Strike Rate	1.52%
Fund Portfolio | Fund IV | Interest Rate Cap | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 90,600
Fair value, asset derivatives	$ 0	8
Fund Portfolio | Fund IV | Interest Rate Cap | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-07
Derivative Maturity Date	2020-12
Strike Rate	3.00%
Fund Portfolio | Fund IV | Interest Rate Cap | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-12
Derivative Maturity Date	2021-07
Strike Rate	3.50%
Fund Portfolio | Fund V
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 334,626
Fair value, derivatives, net	(2,256)	(951)
Fund Portfolio | Fund V | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	156,900
Fair value, liability derivatives	(4,360)	(972)
Fund Portfolio | Fund V | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	177,726
Fair value, asset derivatives	$ 2,104	$ 21
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 | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-10
Derivative Maturity Date	2022-10
Strike Rate	1.25%
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%
Fund Portfolio | Fund V | Interest Rate Swaps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-11
Derivative Maturity Date	2024-10
Strike Rate	1.47%

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Schedule of Derivative Financial Instruments (Parenthetical) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)derivative	Dec. 31, 2018USD ($)
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (39,061)	$ (7,304)
Interest Rate Swaps | Core Portfolio
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | derivative	2
Fair value, liability derivatives	$ (11,800)	$ (2,900)
Derivative Effective Date	2020-07

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Schedule of Other Financial Instruments Carrying Values and Fair values (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	$ 114,943	$ 111,775	$ 160,991	$ 283,125
Mortgage and Other Notes Payable	1,708,196	1,550,545
Unsecured notes payable and Unsecured line of credit	477,320	533,257
Level 3 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	114,943	111,775
Mortgage and Other Notes Payable	1,179,503	1,026,708
Investment in non-traded equity securities	1,778	0
Level 3 | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	113,422	109,532
Mortgage and Other Notes Payable	1,191,281	1,021,075
Investment in non-traded equity securities	57,964	56,337
Level 2 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes payable and Unsecured line of credit	538,425	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	$ 539,362	$ 533,954

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Contractual obligation	$ 41.1	$ 55.5
Letters of credit, outstanding amount	$ 19.8	$ 19.7

Shareholders' Equity, Noncont_3

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Common Shares and Units - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	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	$ 8.8	$ 8.4

Shareholders' Equity, Noncont_4

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - ATM Program - Additional Information (Details) - ATM Program - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2019
Class Of Stock [Line Items]
Issuance of ordinary shares (in shares)		5,164,055
Gross proceeds		$ 147.7
Weighted Average Share Price		$ 28.61
Proceeds from stock plans net of issuance costs		$ 145.5
Purchase new program included an optional forward purchase component	$ 250

Shareholders' Equity, Noncont_5

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Share Repurchases - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	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		$ 55,111,000
Stock repurchase fees		$ 100,000
Remaining authorized repurchase amount	$ 145,000,000

Shareholders' Equity, Noncont_6

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Schedule of Dividends Declared and paid (Details) - $ / shares

Nov. 05, 2019

Aug. 13, 2019

May 09, 2019

Feb. 28, 2019

Nov. 13, 2018

Aug. 07, 2018

May 11, 2018

Feb. 27, 2018

Nov. 08, 2017

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Class Of Stock [Line Items]

Cash dividends declared per common share (in dollars per share)

$ 0.29

$ 0.28

$ 0.28

$ 0.28

$ 0.28

$ 0.27

$ 0.27

$ 0.27

$ 1.13

$ 1.09

$ 1.05

Fourth Quarter Two Thousand Seventeen

Class Of Stock [Line Items]

Cash dividends, declared date

Nov. 8, 2017

Cash dividends declared per common share (in dollars per share)

$ 0.27

Cash dividends, record date

Dec. 29, 2017

Cash dividends, paid date

Jan. 13, 2018

First Quarter Two Thousand Eighteen

Class Of Stock [Line Items]

Cash dividends, declared date

Feb. 27, 2018

Cash dividends declared per common share (in dollars per share)

$ 0.27

Cash dividends, record date

Mar. 30, 2018

Cash dividends, paid date

Apr. 13, 2018

Second Quarter Two Thousand Eighteen

Class Of Stock [Line Items]

Cash dividends, declared date

May 11, 2018

Cash dividends declared per common share (in dollars per share)

$ 0.27

Cash dividends, record date

Jun. 29, 2018

Cash dividends, paid date

Jul. 13, 2018

Third Quarter Two Thousand Eighteen

Class Of Stock [Line Items]

Cash dividends, declared date

Aug. 7, 2018

Cash dividends declared per common share (in dollars per share)

$ 0.27

Cash dividends, record date

Sep. 28, 2018

Cash dividends, paid date

Oct. 15, 2018

Fourth Quarter Two Thousand Eighteen

Class Of Stock [Line Items]

Cash dividends, declared date

Nov. 13, 2018

Cash dividends declared per common share (in dollars per share)

$ 0.28

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 declared per common share (in dollars per share)

$ 0.28

Cash dividends, record date

Mar. 29, 2019

Cash dividends, paid date

Apr. 15, 2019

Second Quarter Two Thousand Nineteen

Class Of Stock [Line Items]

Cash dividends, declared date

May 9, 2019

Cash dividends declared per common share (in dollars per share)

$ 0.28

Cash dividends, record date

Jun. 28, 2019

Cash dividends, paid date

Jul. 15, 2019

Third Quarter Two Thousand Nineteen

Class Of Stock [Line Items]

Cash dividends, declared date

Aug. 13, 2019

Cash dividends declared per common share (in dollars per share)

$ 0.28

Cash dividends, record date

Sep. 30, 2019

Cash dividends, paid date

Oct. 15, 2019

Fourth Quarter Two Thousand Nineteen

Class Of Stock [Line Items]

Cash dividends, declared date

Nov. 5, 2019

Cash dividends declared per common share (in dollars per share)

$ 0.29

Cash dividends, record date

Dec. 31, 2019

Cash dividends, paid date

Jan. 15, 2020

Shareholders' Equity, Noncont_7

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Summary of Activity in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 2,081,947	$ 2,215,639	$ 2,178,125
Other comprehensive (loss) income before reclassifications	(35,674)	(2,659)	634
Reclassification of realized interest on swap agreements	(872)	71	3,317
Net current period other comprehensive (loss) income	(36,546)	(2,588)	3,951
Ending Balance	2,186,965	2,081,947	2,215,639
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	516	2,614	(798)
Ending Balance	(31,175)	516	2,614
AOCI Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net current period other comprehensive (loss) income	$ 4,855	$ 490	$ (539)

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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance				$ 622,442					$ 622,442
Net income (loss)	$ 14,665	$ 8,840	$ (5,237)	2,936	$ (6,671)	$ (2,597)	$ (2,270)	$ (4,160)	21,204	$ (15,698)	$ 64,308
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership									0	0	0
Other comprehensive loss - unrealized loss on valuation of swap agreements									(35,674)	(2,659)	634
Reclassification of realized interest on swap agreements									(872)	71	3,317
Noncontrolling interest contributions									161,628	47,560	85,206
Noncontrolling interest distributions									(94,289)	(24,793)	(32,805)
Employee Long-term Incentive Plan Unit Awards									10,957	12,948	11,155
Reallocation of noncontrolling interests									0	0	0
Ending Balance	644,657				622,442				644,657	622,442
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance				622,442				648,440	622,442	648,440	589,548
Distributions declared of $1.13,1.09 and $1.05 per Common OP Unit for year ended 2019,2018 and 2017, respectively									(7,124)	(6,888)	(6,453)
Net income (loss)									(31,841)	(47,137)	2,838
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership									(5,104)	(2,068)	(1,541)
Other comprehensive loss - unrealized loss on valuation of swap agreements									(4,935)	(810)	(147)
Reclassification of realized interest on swap agreements									80	320	686
Noncontrolling interest contributions									161,628	47,560	85,206
Noncontrolling interest distributions									(94,289)	(24,793)	(32,805)
Employee Long-term Incentive Plan Unit Awards									10,411	12,374	10,457
Reallocation of noncontrolling interests									(6,611)	(4,556)	651
Ending Balance	644,657				622,442				644,657	622,442	648,440
Noncontrolling Interests | Restatement Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance	(6,611)								(6,611)
Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance				518,219				545,519	518,219	545,519	494,126
Distributions declared of $1.13,1.09 and $1.05 per Common OP Unit for year ended 2019,2018 and 2017, respectively									0	0	0
Net income (loss)									(35,677)	(49,709)	(1,321)
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									(3,036)	(681)	(232)
Reclassification of realized interest on swap agreements									142	323	545
Noncontrolling interest contributions									161,628	47,560	85,206
Noncontrolling interest distributions									(94,289)	(24,793)	(32,805)
Employee Long-term Incentive Plan Unit Awards									0	0	0
Reallocation of noncontrolling interests									0	0	0
Ending Balance	546,987				518,219				546,987	518,219	545,519
Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates | Restatement Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance	0								0
Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance				$ 104,223				$ 102,921	104,223	102,921	95,422
Distributions declared of $1.13,1.09 and $1.05 per Common OP Unit for year ended 2019,2018 and 2017, respectively									(7,124)	(6,888)	(6,453)
Net income (loss)									3,836	2,572	4,159
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership									(5,104)	(2,068)	(1,541)
Other comprehensive loss - unrealized loss on valuation of swap agreements									(1,899)	(129)	85
Reclassification of realized interest on swap agreements									(62)	(3)	141
Noncontrolling interest contributions									0	0	0
Noncontrolling interest distributions									0	0	0
Employee Long-term Incentive Plan Unit Awards									10,411	12,374	10,457
Reallocation of noncontrolling interests									(6,611)	(4,556)	651
Ending Balance	97,670				$ 104,223				97,670	$ 104,223	$ 102,921
Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member | Restatement Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance	$ (6,611)								$ (6,611)

Shareholders' Equity, Noncont_9

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Summary of Change in Noncontrolling Interest (Parenthetical) (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minority Interest [Line Items]
Distributions declared (in dollars per share)	$ 0.29	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.27	$ 0.27	$ 0.27	$ 1.13	$ 1.09	$ 1.05
Conversion of Common OP Units to Common Shares by limited partners of the Operating Partnership (in shares)									307,663	117,978	81,453
Operating Partnership, as General Partner or Managing Member
Minority Interest [Line Items]
Series A Preferred OP Units (in shares)	3,250,603				3,329,640				3,250,603	3,329,640	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				188	188	188
Operating Partnership, as General Partner or Managing Member | Series C Preferred Stock
Minority Interest [Line Items]
Series A Preferred OP Units (in shares)	136,593				136,593				136,593	136,593	136,593
LTIP Units
Minority Interest [Line Items]
LTIP units outstanding (in shares)	2,673,484				2,569,044				2,673,484	2,569,044	2,274,147

Shareholders' Equity, Noncon_10

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income - Preferred OP Units - Additional Information (Details) - $ / shares	12 Months Ended			48 Months Ended	252 Months Ended
	Dec. 31, 2019	Dec. 31, 2016	Dec. 31, 1999	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Denominator for Series A Preferred OP Unit conversion	$ 7.50			$ 7.50	$ 7.50
Common Shares
Class Of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)	5,164,000
Gotham Plaza | Common Shares
Class Of Stock [Line Items]
Issuance of common shares, net of issuance costs (in Shares)		442,478
Preferred quarterly distribution per share price		$ 0.9375
Number of convertible units if share price below $28.80 (in shares)		3.4722
Number of convertible units if share price above $35.20 (in shares)		2.8409
Operating Partnership, as General Partner or Managing Member
Class Of Stock [Line Items]
Series A Preferred OP Units (in shares)	3,250,603			3,250,603	3,250,603	3,329,640	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	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	136,593

Leases - Operating Leases - Add

Leases - Operating Leases - Additional Information (Details) $ in Thousands	Jan. 01, 2019item	Dec. 31, 2019USD ($)itemshopping_center	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Operating Leased Assets [Line Items]
Variable lease revenues		$ 56,400
Cumulative effect adjustment to retained earnings required upon adoption of the new standard		0
Operating lease, right-of-use asset		$ 60,006
Number of operating lease | item		9
Number of finance lease | item		4
Finance lease, right-of-use asset		$ 102,055
Number of shopping centers with land leases | shopping_center		6
Ground lease expense			$ 1,700	$ 1,400
Rent expense capitalized			0	100
Rent expense			1,000	1,000
Capital lease term		49 years
565 Broadway | Core Portfolio
Operating Leased Assets [Line Items]
Operating lease, right-of-use asset		$ 4,900
Finance lease, right-of-use asset		19,400
110 University Place
Operating Leased Assets [Line Items]
Operating lease, right-of-use asset		45,300
Operating lease liabilities		45,300
Capital Lease Liability
Operating Leased Assets [Line Items]
Finance lease liabilities		71,100
Repayments capital lease obligations			$ 2,500	$ 2,500
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
Number of finance lease | item	3
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 Assets and

Leases - Schedule of Assets and Liabilities in Connection With Acquisitions of Leasehold Interests (Details) $ in Thousands	Dec. 31, 2019USD ($)
Amounts recorded upon acquisition of leasehold interests:
Operating lease, right-of-use asset	$ 60,006
Finance lease, right-of-use asset	102,055
Lease liability - operating lease	(56,762)
Leasehold Interests Acquisition
Amounts recorded upon acquisition of leasehold interests:
Operating lease, right-of-use asset	50,147
Finance lease, right-of-use asset	19,422
Leasehold improvements	13,354
Lease intangibles (Note 6)	1,760
Lease liability - operating lease	(45,293)
Acquisition-related intangible liabilities (Note 6)	(359)
Cash paid upon acquisition of leasehold interests	$ 39,031

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Finance lease cost:
Amortization of right-of-use assets	$ 2,168
Interest on lease liabilities	3,737
Subtotal	5,905
Operating lease cost	4,430
Variable lease cost	164
Total lease cost	$ 10,499
Weighted-average remaining lease term - finance leases (years)	42 years 6 months
Weighted-average remaining lease term - operating leases (years)	34 years 1 month 6 days
Weighted-average discount rate - finance leases	4.50%
Weighted-average discount rate - operating leases	5.80%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases (Details) $ in Thousands	Dec. 31, 2019USD ($)
Minimum Rental Revenues
2020	$ 212,871
2021	203,077
2022	181,731
2023	160,237
2024	137,451
Thereafter	563,124
Total	1,458,491
Minimum Rental Payments
2020	7,040
2021	6,823
2022	6,832
2023	6,825
2024	7,008
Thereafter	312,421
Total	$ 346,949

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases (Parenthetical) (Details) $ in Millions	Dec. 31, 2019USD ($)
Leases [Abstract]
Minimum rental payments of interest related to finance lease	$ 219

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	12 Months Ended
	Dec. 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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 77,786	$ 73,327	$ 70,229	$ 73,985	$ 69,727	$ 65,527	$ 62,201	$ 62,226	$ 295,327	$ 259,681	$ 248,552
Depreciation and amortization									(125,443)	(117,549)	(104,934)
Property operating expenses, other operating and real estate taxes									(90,468)	(80,248)	(78,088)
General and administrative expenses									(35,416)	(34,343)	(33,756)
Impairment charge		(300)	(1,400)						(1,721)		(14,455)
Gain on disposition of properties									30,324	5,140	48,886
Operating income									72,603	32,681	66,205
Interest income									7,988	13,231	29,143
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties									8,922	9,302	23,371
Interest expense									(73,788)	(69,978)	(58,978)
Other income									6,947		5,571
Income tax provision									(1,468)	(934)	(1,004)
Net income (loss)	14,665	8,840	(5,237)	2,936	(6,671)	(2,597)	(2,270)	(4,160)	21,204	(15,698)	64,308
Net loss (income) attributable to noncontrolling interests	6,645	1,618	14,317	9,261	13,801	11,822	9,935	11,579	31,841	47,137	(2,838)
Net income attributable to Acadia	21,310	$ 10,458	$ 9,080	$ 12,197	7,130	$ 9,225	$ 7,665	$ 7,419	53,045	31,439	61,470
Real estate at cost	4,099,542				3,697,805				4,099,542	3,697,805
Total Assets	4,309,114				3,958,780				4,309,114	3,958,780
Cash paid for acquisition of real estate and leasehold interest									358,704
Cash paid for acquisition of real estate									319,673	147,985	200,429
Cash paid for development and property improvement costs									89,270	94,834	108,142
Operating Segments | Core Portfolio
Segment Reporting Information [Line Items]
Revenues									173,177	166,816	168,795
Depreciation and amortization									(61,819)	(60,903)	(61,705)
Property operating expenses, other operating and real estate taxes									(47,032)	(44,060)	(44,169)
General and administrative expenses									0	0	0
Impairment charge									0		0
Gain on disposition of properties									16,771	0	0
Operating income									81,097	61,853	62,921
Interest income									0	0	0
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties									9,020	7,415	3,735
Interest expense									(28,304)	(27,575)	(28,618)
Other income									327		5,571
Income tax provision									0	0	0
Net income (loss)									62,140	41,693	43,609
Net loss (income) attributable to noncontrolling interests									337	752	(1,107)
Net income attributable to Acadia									62,477	42,445	42,502
Real estate at cost	2,264,010				2,069,439				2,264,010	2,069,439
Total Assets	2,350,833				2,232,695				2,350,833	2,232,695
Cash paid for acquisition of real estate and leasehold interest									173,892
Cash paid for acquisition of real estate										1,343	0
Cash paid for development and property improvement costs									22,724	32,662	42,026
Operating Segments | Funds
Segment Reporting Information [Line Items]
Revenues									122,150	92,865	79,757
Depreciation and amortization									(63,624)	(56,646)	(43,229)
Property operating expenses, other operating and real estate taxes									(43,436)	(36,188)	(33,919)
General and administrative expenses									0	0	0
Impairment charge									(1,721)		(14,455)
Gain on disposition of properties									13,553	5,140	48,886
Operating income									26,922	5,171	37,040
Interest income									0	0	0
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties									(98)	1,887	19,636
Interest expense									(45,484)	(42,403)	(30,360)
Other income									6,620		0
Income tax provision									0	0	0
Net income (loss)									(12,040)	(35,345)	26,316
Net loss (income) attributable to noncontrolling interests									31,504	46,385	(1,731)
Net income attributable to Acadia									19,464	11,040	24,585
Real estate at cost	1,835,532				1,628,366				1,835,532	1,628,366
Total Assets	1,843,338				1,616,472				1,843,338	1,616,472
Cash paid for acquisition of real estate and leasehold interest									184,812
Cash paid for acquisition of real estate										146,642	200,429
Cash paid for development and property improvement costs									66,546	62,172	66,116
Operating Segments | Structured Financing
Segment Reporting Information [Line Items]
Revenues									0	0	0
Depreciation and amortization									0	0	0
Property operating expenses, other operating and real estate taxes									0	0	0
General and administrative expenses									0	0	0
Impairment charge									0		0
Gain on disposition of properties									0	0	0
Operating income									0	0	0
Interest income									7,988	13,231	29,143
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties									0	0	0
Interest expense									0	0	0
Other income									0		0
Income tax provision									0	0	0
Net income (loss)									7,988	13,231	29,143
Net loss (income) attributable to noncontrolling interests									0	0	0
Net income attributable to Acadia									7,988	13,231	29,143
Real estate at cost	0				0				0	0
Total Assets	114,943				109,613				114,943	109,613
Cash paid for acquisition of real estate and leasehold interest									0
Cash paid for acquisition of real estate										0	0
Cash paid for development and property improvement costs									0	0	0
Unallocated
Segment Reporting Information [Line Items]
Revenues									0	0	0
Depreciation and amortization									0	0	0
Property operating expenses, other operating and real estate taxes									0	0	0
General and administrative expenses									(35,416)	(34,343)	(33,756)
Impairment charge									0		0
Gain on disposition of properties									0	0	0
Operating income									(35,416)	(34,343)	(33,756)
Interest income									0	0	0
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties									0	0	0
Interest expense									0	0	0
Other income									0		0
Income tax provision									(1,468)	(934)	(1,004)
Net income (loss)									(36,884)	(35,277)	(34,760)
Net loss (income) attributable to noncontrolling interests									0	0	0
Net income attributable to Acadia									(36,884)	(35,277)	(34,760)
Real estate at cost	0				0				0	0
Total Assets	$ 0				$ 0				0	0
Cash paid for acquisition of real estate and leasehold interest									0
Cash paid for acquisition of real estate										0	0
Cash paid for development and property improvement costs									$ 0	$ 0	$ 0

Segment Reporting - Summary o_2

Segment Reporting - Summary of Segment Information (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net income attributable to Acadia	$ 21,310	$ 10,458	$ 9,080	$ 12,197	$ 7,130	$ 9,225	$ 7,665	$ 7,419	$ 53,045	$ 31,439	$ 61,470
Real estate at cost	4,099,542				3,697,805				4,099,542	3,697,805
Total Assets	4,309,114				3,958,780				4,309,114	3,958,780
Net (income) loss attributable to noncontrolling interests	(6,645)	$ (1,618)	$ (14,317)	$ (9,261)	(13,801)	$ (11,822)	$ (9,935)	$ (11,579)	(31,841)	(47,137)	2,838
Funds | Fund II's City Point Property
Segment Reporting Information [Line Items]
Real estate at cost	603,300								603,300
Total Assets	576,100								576,100
Net (income) loss attributable to noncontrolling interests									174,700	167,200
Operating Segments | Core Portfolio
Segment Reporting Information [Line Items]
Net income attributable to Acadia									62,477	42,445	42,502
Real estate at cost	2,264,010				2,069,439				2,264,010	2,069,439
Total Assets	2,350,833				2,232,695				2,350,833	2,232,695
Net (income) loss attributable to noncontrolling interests									(337)	(752)	1,107
Operating Segments | Core Portfolio | Town Center
Segment Reporting Information [Line Items]
Net income attributable to Acadia									4,700	4,100	900
Operating Segments | Funds
Segment Reporting Information [Line Items]
Net income attributable to Acadia									19,464	11,040	24,585
Real estate at cost	1,835,532				1,628,366				1,835,532	1,628,366
Total Assets	$ 1,843,338				$ 1,616,472				1,843,338	1,616,472
Net (income) loss attributable to noncontrolling interests									$ (31,504)	$ (46,385)	$ 1,731

Share Incentive and Other Com_3

Share Incentive and Other Compensation - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit based compensation		$ 10,957,000	$ 12,948,000	$ 11,155,000
Trustee fees		1,400,000	1,300,000
Total unrecognized compensation cost related to nonvested awards		$ 14,600,000
Weighted-average period over which cost is expected to be recognized		1 year 6 months
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]
Shares issued during period, share-based compensation, net of forfeitures	26,632
Compensation expense	$ 600,000
Compensation expense related to acceleration of previously granted	$ 1,700,000
Total fair value of shares that vested		$ 8,500,000	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		18,009
Shares granted to trustees for trustee fees vesting on one year anniversary of grant date		6,463
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		11,546
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares that vested		$ 600,000	$ 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		17,318
Shares granted to trustees for trustee fees vesting on one year anniversary of grant date		3,996
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		13,322
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)		$ 32.50	$ 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		$ 8,800,000	$ 8,400,000	8,400,000
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		$ 300,000	$ 300,000	200,000
Share Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized		708,632
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 2019
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]
Compensation expense		$ 0	$ 0	600,000
Percentage of promote awarded as share based compensation award					25.00%
Long Term Investment Alignment Program | Fund IV
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		0	0	600,000
Percentage of promote awarded as share based compensation award					22.80%
Awards in connection with fund to have intrinsic value		0
Long Term Investment Alignment Program | Fund V
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		0	$ 0	$ 600,000
Percentage of promote awarded as share based compensation award					2.20%
Awards in connection with fund to have intrinsic value		$ 0

Share Incentive and Other Com_4

Share Incentive and Other Compensation - Schedule of Unvested Shares and LTIP Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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	46,499
Shares granted (in shares)	25,359	22,817	19,442
Shares vested (in shares)	(21,424)	(25,261)	(23,430)
Shares forfeited (in shares)		(428)	(1,184)
Shares unvested, End of period (in shares)	42,390	38,455	41,327
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 22.44	$ 26.92	$ 27.58
Shares granted, Weighted average grant date fair value (in dollars per share)	28.56	23.65	29.85
Shares vested, Weighted average grant date fair value (in dollars per share)	27.12	30.79	30.47
Shares forfeited, Weighted average grant date fair value (in dollars per share)		27.25	32.65
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 23.73	$ 22.44	$ 26.92
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	856,877
Shares granted (in shares)	348,726	425,880	310,551
Shares vested (in shares)	(290,753)	(431,827)	(257,124)
Shares forfeited (in shares)	(15,679)	(12,266)	(205)
Shares unvested, End of period (in shares)	934,180	891,886	910,099
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 26.87	$ 28.28	$ 26.99
Shares granted, Weighted average grant date fair value (in dollars per share)	32.78	26.80	31.80
Shares vested, Weighted average grant date fair value (in dollars per share)	29.30	29.72	28.27
Shares forfeited, Weighted average grant date fair value (in dollars per share)	31.49	28.57	32.49
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 28.24	$ 26.87	$ 28.28

Share Incentive and Other Com_5

Share Incentive and Other Compensation - Employee Share Purchase Plan and Deferred Share Plan - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 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)	2,320	3,495

Share Incentive and Other Com_6

Share Incentive and Other Compensation - Employee 401 (k) Plan - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employer matching contribution	50.00%
Maximum annual contribution per employee	6.00%
Maximum employee annual salary contribution	15.00%
Maximum employee annual salary contribution amount	$ 19,000

Federal Income Taxes - Addition

Federal Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Minimum distribution percentage of annual taxable income to qualify as REIT	90.00%
Maximum percentage of total assets consisting of securities of TRS	20.00%
Deferred tax assets, net	$ 0.9	$ 2
Deferred tax assets, applicable reserves	1.7	0
Deferred tax assets, capital loss carryforwards	0.1	0.1
Deferred tax assets, operating loss carryforwards	$ 2.5	$ 1.9
Minimum percentage of unrealized deferred tax asset required for qualification of valuation allowance	50.00%

Federal Income Taxes - Reconcil

Federal Income Taxes - Reconciliation of Net Income to Taxable Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net income attributable to Acadia	$ 21,310	$ 10,458	$ 9,080	$ 12,197	$ 7,130	$ 9,225	$ 7,665	$ 7,419	$ 53,045	$ 31,439	$ 61,470
Deferred cancellation of indebtedness income									0	2,050	2,050
Deferred rental and other income									1,203	1,222	(934)
Book/tax difference - depreciation and amortization									21,688	23,166	21,334
Straight-line rent and above- and below-market rent adjustments									(10,949)	(12,129)	(10,559)
Book/tax differences - equity-based compensation									7,177	6,042	5,325
Joint venture equity in earnings, net									15,571	13,905	9,114
Acquisition costs									63	326	1,135
Gain (loss) on disposition of properties									2,375	0	(5,181)
Book/tax differences - miscellaneous									(1,473)	(2,821)	930
Taxable income									88,700	63,200	84,684
Distributions declared									$ 96,310	$ 89,122	$ 87,848

Federal Income Taxes - Tax Stat

Federal Income Taxes - Tax Status of Dividends (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
Total (in dollars per share)	$ 0.29	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.27	$ 0.27	$ 0.27	$ 1.13	$ 1.09	$ 1.05
Characterization Of Distributions For Federal Income Tax Purposes
Income Tax Contingency [Line Items]
Qualified dividend (in dollars per share)									0	0	0
Capital gain (in dollars per share)									0.240	0	0.230
Total (in dollars per share)									$ 1.060	$ 0.870	$ 1.050
Qualified dividend									0.00%	0.00%	0.00%
Capital gain									23.00%	0.00%	22.00%
Total									100.00%	100.00%	100.00%
Non-Section 199A | Characterization Of Distributions For Federal Income Tax Purposes
Income Tax Contingency [Line Items]
Ordinary income (in dollars per share)									$ 0	$ 0	$ 0.820
Ordinary income									0.00%	0.00%	78.00%
Section 199A | Characterization Of Distributions For Federal Income Tax Purposes
Income Tax Contingency [Line Items]
Ordinary income (in dollars per share)									$ 0.820	$ 0.870	$ 0
Ordinary income									77.00%	100.00%	0.00%

Federal Income Taxes - Tax St_2

Federal Income Taxes - Tax Status of Dividends (Parenthetical) (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Dividend per common share	$ 0.29	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.27	$ 0.27	$ 0.27	$ 1.13	$ 1.09	$ 1.05
Dividend per common share, 2018										0.06
Dividend per common share, 2019										$ 0.22

Federal Income Taxes - Income a

Federal Income Taxes - Income and Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
(Provision) benefit for income taxes:
Net income (loss)	$ 14,665	$ 8,840	$ (5,237)	$ 2,936	$ (6,671)	$ (2,597)	$ (2,270)	$ (4,160)	$ 21,204	$ (15,698)	$ 64,308
Net loss (income) attributable to noncontrolling interests	6,645	1,618	14,317	9,261	13,801	11,822	9,935	11,579	31,841	47,137	(2,838)
Net income attributable to Acadia	$ 21,310	$ 10,458	$ 9,080	$ 12,197	$ 7,130	$ 9,225	$ 7,665	$ 7,419	53,045	31,439	61,470
TRS [Member]
Income Tax Contingency [Line Items]
TRS loss before income taxes									(3,117)	(2,609)	(3,604)
(Provision) benefit for income taxes:
Federal									754	(377)	(982)
State and local									317	26	423
Net income (loss)									(2,046)	(2,960)	(4,163)
Net loss (income) attributable to noncontrolling interests									(369)	4	8
Net income attributable to Acadia									$ (2,415)	$ (2,956)	$ (4,155)

Federal Income Taxes - Tax Reco

Federal Income Taxes - Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal tax benefit at statutory tax rate	$ (655)	$ (548)	$ (1,225)
TRS state and local taxes, net of Federal benefit	(197)	(165)	(190)
Permanent differences, net	239	951	1,131
Prior year over-accrual, net	0	0	(1,541)
Effect of Tax Cuts and Jobs Act	0	0	1,982
Adjustment to deferred tax reserve	1,748	(1,530)	0
Other	(112)	1,702	404
REIT state and local income and franchise taxes	445	524	443
Total provision (benefit) for income taxes	$ 1,468	$ 934	$ 1,004

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Details)	12 Months Ended
	Dec. 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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income attributable to Acadia									$ 53,045	$ 31,439	$ 61,470
Less: net income attributable to participating securities									(413)	(267)	(642)
Income from continuing operations net of income attributable to participating securities									$ 52,632	$ 31,172	$ 60,828
Denominator:
Weighted average shares for basic earnings per share (in shares)									84,435,826	82,080,159	83,682,789
Effect of dilutive securities:
Employee unvested restricted shares (in shares)									0	0	2,682
Denominator for diluted earnings per share (in shares)	87,058,000	84,888,000	83,704,000	82,037,000	81,591,000	81,566,000	81,756,000	83,438,000	84,435,826	82,080,159	83,685,471
Basic and diluted earnings per share (in dollars per share)									$ 0.62	$ 0.38	$ 0.73
Series A Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)									188	188	188
Series A Preferred OP Units - Common Share Equivalent
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)									25,067	25,067	25,067
Series C Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)									136,593	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	479,978
Restricted shares
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)									40,821	36,879	41,299

Summary of Quarterly Financia_3

Summary of Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 77,786	$ 73,327	$ 70,229	$ 73,985	$ 69,727	$ 65,527	$ 62,201	$ 62,226	$ 295,327	$ 259,681	$ 248,552
Net income (loss)	14,665	8,840	(5,237)	2,936	(6,671)	(2,597)	(2,270)	(4,160)	21,204	(15,698)	64,308
Net loss (income) attributable to noncontrolling interests	6,645	1,618	14,317	9,261	13,801	11,822	9,935	11,579	31,841	47,137	(2,838)
Net income attributable to Acadia	$ 21,310	$ 10,458	$ 9,080	$ 12,197	$ 7,130	$ 9,225	$ 7,665	$ 7,419	$ 53,045	$ 31,439	$ 61,470
Earnings per share attributable to Acadia: Basic	$ 0.24	$ 0.12	$ 0.11	$ 0.15	$ 0.09	$ 0.11	$ 0.09	$ 0.09
Earnings per share attributable to Acadia: Diluted	$ 0.24	$ 0.12	$ 0.11	$ 0.15	$ 0.09	$ 0.11	$ 0.09	$ 0.09
Weighted average number of shares: Basic	87,058,000	84,888,000	83,704,000	82,037,000	81,591,000	81,566,000	81,756,000	83,434,000
Weighted average number of shares: Diluted	87,058,000	84,888,000	83,704,000	82,037,000	81,591,000	81,566,000	81,756,000	83,438,000	84,435,826	82,080,159	83,685,471
Distributions declared (in dollars per share)	$ 0.29	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.27	$ 0.27	$ 0.27	$ 1.13	$ 1.09	$ 1.05

Summary of Quarterly Financia_4

Summary of Quarterly Financial Information (Unaudited) (Parenthetical) (Details) $ in Thousands	3 Months Ended					12 Months Ended
	Dec. 31, 2019USD ($)property	Sep. 30, 2019USD ($)property	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Interim Period Costs Not Allocable [Line Items]
Impairment charges		$ 300	$ 1,400			$ 1,721		$ 14,455
Number of retail properties | property	186					186
Deferred gain on tax credits		1,400				$ 5,034
Revenues revised to reflect the reclassification of credit losses			$ 800	$ 800			$ 2,500
Disposed of by sale
Interim Period Costs Not Allocable [Line Items]
Gain on disposition	$ 16,300	$ 12,100			$ 5,100
Number of retail properties | property		2
Disposed of by sale | Fund IV
Interim Period Costs Not Allocable [Line Items]
Number of retail properties | property		1			2
Disposed of by sale | Fund III
Interim Period Costs Not Allocable [Line Items]
Number of retail properties | property		1
Disposed of by sale | Noncontrolling Interests
Interim Period Costs Not Allocable [Line Items]
Gain on disposition					$ 3,900
Operating Partnership, as General Partner or Managing Member
Interim Period Costs Not Allocable [Line Items]
Impairment charges						$ 400
Operating Partnership, as General Partner or Managing Member | Disposed of by sale
Interim Period Costs Not Allocable [Line Items]
Gain on disposition	$ 16,700	$ 2,800

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands	Feb. 13, 2020USD ($)	Jan. 09, 2020USD ($)	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Feb. 07, 2020USD ($)	Jan. 31, 2020property	Jan. 17, 2020USD ($)	Mar. 28, 2018USD ($)	Nov. 16, 2017USD ($)
Subsequent Event [Line Items]
Number of retail properties | property			186
Purchase Price			$ 324,339	$ 186,463
Mezzanine loan to joint venture partner			226,301
Soho Acquisitions | New York, NY
Subsequent Event [Line Items]
Purchase Price			$ 122,000
Subsequent Event | Venture Partner’s Interest | Georgetown Portfolio
Subsequent Event [Line Items]
Mezzanine loan to joint venture partner					$ 5,000
Subsequent Event | New York, NY
Subsequent Event [Line Items]
Equity method investments							$ 54,000
Core Portfolio
Subsequent Event [Line Items]
Number of retail properties | property			129
Purchase Price			$ 146,435	1,337
Equity method investments			225,907	231,432				$ 22,300	$ 61,600
Core Portfolio | Georgetown Portfolio
Subsequent Event [Line Items]
Equity method investments			$ 4,498	$ 4,653
Core Portfolio | Subsequent Event
Subsequent Event [Line Items]
Number of retail properties | property						2
Core Portfolio | Subsequent Event | Soho Acquisitions | 37, Green Street, New York
Subsequent Event [Line Items]
Purchase Price		$ 15,400
Core Portfolio | Subsequent Event | Chicago Illinois Acquisitions | 917 West Armitage Avenue
Subsequent Event [Line Items]
Purchase Price	$ 3,500

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for deferred tax asset
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 0	$ 1,530	$ 859
Charged to Expenses	0	0	0
Adjustments to Valuation Accounts	1,748	(1,530)	671
Deductions	0	0	0
Balance at End of Year	1,748	0	1,530
Allowance for uncollectible accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	7,921	5,920	5,720
Charged to Expenses	4,402	2,532	200
Adjustments to Valuation Accounts	(915)	(531)	0
Deductions	0	0	0
Balance at End of Year	11,408	7,921	5,920
Allowance for notes receivable
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	0	0	0
Charged to Expenses	0	0	0
Adjustments to Valuation Accounts	0	0	0
Deductions	0	0	0
Balance at End of Year	$ 0	$ 0	$ 0

SCHEDULE III - REAL ESTATE AN_2

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Schedule of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,170,076
Initial Cost to Company of Land	901,997
Initial Cost to Company of Buildings and Improvements	2,286,624
Increase (Decrease) in Net Investments	910,921
Carrying Amount of Land	906,984
Carrying Amount of Buildings and Improvements	3,192,558
Total Carrying Amount	4,099,542	$ 3,697,805	$ 3,466,482	$ 3,382,000
Accumulated Depreciation	490,227	416,657	$ 339,862	$ 287,066
Unamortized Loan Costs	(10,078)
Unamortized Premium	651	$ 753
Real estate, federal income tax basis	4,000,000
Operating lease right of use asset Initial Cost to Company of Land	56,961
Operating lease right of use asset Initial Cost to Company of Buildings and Improvements	5,058
Operating lease right of use asset Increase (Decrease) in Net Investments	(2,013)
Operating lease right of use asset Carrying Amount of Land	55,764
Operating lease right of use asset Carrying Amount of Buildings and Improvements	4,242
Operating lease, right-of-use asset	$ 60,006
Buildings
Real Estate And Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Real Estate Under Development
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 69,718
Initial Cost to Company of Land	82,969
Initial Cost to Company of Buildings and Improvements	53,847
Increase (Decrease) in Net Investments	116,586
Carrying Amount of Land	94,923
Carrying Amount of Buildings and Improvements	158,479
Total Carrying Amount	253,402
Core Portfolio | Crescent Plaza Brockton, MA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	1,147
Initial Cost to Company of Buildings and Improvements	7,425
Increase (Decrease) in Net Investments	3,301
Carrying Amount of Land	1,147
Carrying Amount of Buildings and Improvements	10,726
Total Carrying Amount	11,873
Accumulated Depreciation	$ 8,455
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | New Loudon Center Latham, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 505
Initial Cost to Company of Buildings and Improvements	4,161
Increase (Decrease) in Net Investments	14,119
Carrying Amount of Land	505
Carrying Amount of Buildings and Improvements	18,280
Total Carrying Amount	18,785
Accumulated Depreciation	$ 15,352
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Mark Plaza Edwardsville, PA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 3,396
Carrying Amount of Buildings and Improvements	3,396
Total Carrying Amount	3,396
Accumulated Depreciation	$ 3,028
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Plaza 422 Lebanon, PA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 190
Initial Cost to Company of Buildings and Improvements	3,004
Increase (Decrease) in Net Investments	2,809
Carrying Amount of Land	190
Carrying Amount of Buildings and Improvements	5,813
Total Carrying Amount	6,003
Accumulated Depreciation	$ 5,262
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Route 6 Mall Honesdale, PA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,664
Increase (Decrease) in Net Investments	12,490
Carrying Amount of Land	1,664
Carrying Amount of Buildings and Improvements	12,490
Total Carrying Amount	14,154
Accumulated Depreciation	$ 10,235
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Abington Towne Center Abington, PA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 799
Initial Cost to Company of Buildings and Improvements	3,197
Increase (Decrease) in Net Investments	3,872
Carrying Amount of Land	799
Carrying Amount of Buildings and Improvements	7,069
Total Carrying Amount	7,868
Accumulated Depreciation	$ 4,222
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Bloomfield Town Square Bloomfield Hills, MI
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,207
Initial Cost to Company of Buildings and Improvements	13,774
Increase (Decrease) in Net Investments	25,803
Carrying Amount of Land	3,207
Carrying Amount of Buildings and Improvements	39,577
Total Carrying Amount	42,784
Accumulated Depreciation	$ 24,739
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Elmwood Park Shopping Center Elmwood Park, NJ
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,248
Initial Cost to Company of Buildings and Improvements	12,992
Increase (Decrease) in Net Investments	16,314
Carrying Amount of Land	3,798
Carrying Amount of Buildings and Improvements	28,756
Total Carrying Amount	32,554
Accumulated Depreciation	$ 20,402
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Merrillville Plaza Hobart, IN
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,288
Initial Cost to Company of Buildings and Improvements	17,152
Increase (Decrease) in Net Investments	6,058
Carrying Amount of Land	4,288
Carrying Amount of Buildings and Improvements	23,210
Total Carrying Amount	27,498
Accumulated Depreciation	$ 13,910
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Marketplace of Absecon Absecon, NJ
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 2,573
Initial Cost to Company of Buildings and Improvements	10,294
Increase (Decrease) in Net Investments	5,072
Carrying Amount of Land	2,577
Carrying Amount of Buildings and Improvements	15,362
Total Carrying Amount	17,939
Accumulated Depreciation	$ 9,096
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 239 Greenwich Avenue Greenwich, CT
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 26,572
Initial Cost to Company of Land	1,817
Initial Cost to Company of Buildings and Improvements	15,846
Increase (Decrease) in Net Investments	1,086
Carrying Amount of Land	1,817
Carrying Amount of Buildings and Improvements	16,932
Total Carrying Amount	18,749
Accumulated Depreciation	$ 8,738
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Hobson West Plaza Naperville, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,793
Initial Cost to Company of Buildings and Improvements	7,172
Increase (Decrease) in Net Investments	4,604
Carrying Amount of Land	1,793
Carrying Amount of Buildings and Improvements	11,776
Total Carrying Amount	13,569
Accumulated Depreciation	$ 5,871
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Village Commons Shopping Center Smithtown, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,229
Initial Cost to Company of Buildings and Improvements	12,917
Increase (Decrease) in Net Investments	5,228
Carrying Amount of Land	3,229
Carrying Amount of Buildings and Improvements	18,145
Total Carrying Amount	21,374
Accumulated Depreciation	$ 10,479
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Town Line Plaza Rocky Hill, CT
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 878
Initial Cost to Company of Buildings and Improvements	3,510
Increase (Decrease) in Net Investments	7,736
Carrying Amount of Land	907
Carrying Amount of Buildings and Improvements	11,217
Total Carrying Amount	12,124
Accumulated Depreciation	$ 9,348
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Branch Shopping Center Smithtown, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,156
Initial Cost to Company of Buildings and Improvements	12,545
Increase (Decrease) in Net Investments	16,414
Carrying Amount of Land	3,401
Carrying Amount of Buildings and Improvements	28,714
Total Carrying Amount	32,115
Accumulated Depreciation	$ 14,322
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Methuen Shopping Center Methuen, MA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 956
Initial Cost to Company of Buildings and Improvements	3,826
Increase (Decrease) in Net Investments	1,695
Carrying Amount of Land	961
Carrying Amount of Buildings and Improvements	5,516
Total Carrying Amount	6,477
Accumulated Depreciation	$ 2,866
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | The Gateway Shopping Center South Burlington, VT
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,273
Initial Cost to Company of Buildings and Improvements	5,091
Increase (Decrease) in Net Investments	12,471
Carrying Amount of Land	1,273
Carrying Amount of Buildings and Improvements	17,562
Total Carrying Amount	18,835
Accumulated Depreciation	$ 10,712
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Mad River Station Dayton, OH
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 2,350
Initial Cost to Company of Buildings and Improvements	9,404
Increase (Decrease) in Net Investments	2,251
Carrying Amount of Land	2,350
Carrying Amount of Buildings and Improvements	11,655
Total Carrying Amount	14,005
Accumulated Depreciation	$ 6,310
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Brandywine Holdings Wilmington, DE
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 26,250
Initial Cost to Company of Land	5,063
Initial Cost to Company of Buildings and Improvements	15,252
Increase (Decrease) in Net Investments	2,495
Carrying Amount of Land	5,201
Carrying Amount of Buildings and Improvements	17,609
Total Carrying Amount	22,810
Accumulated Depreciation	$ 7,601
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Bartow Avenue Bronx, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,691
Initial Cost to Company of Buildings and Improvements	5,803
Increase (Decrease) in Net Investments	1,196
Carrying Amount of Land	1,691
Carrying Amount of Buildings and Improvements	6,999
Total Carrying Amount	8,690
Accumulated Depreciation	$ 3,458
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Amboy Road Staten Island, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 11,909
Increase (Decrease) in Net Investments	3,175
Carrying Amount of Buildings and Improvements	15,084
Total Carrying Amount	15,084
Accumulated Depreciation	$ 8,094
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Chestnut Hill Philadelphia, PA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 8,289
Initial Cost to Company of Buildings and Improvements	5,691
Increase (Decrease) in Net Investments	4,509
Carrying Amount of Land	8,289
Carrying Amount of Buildings and Improvements	10,200
Total Carrying Amount	18,489
Accumulated Depreciation	$ 4,910
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 2914 Third Avenue Bronx, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 11,108
Initial Cost to Company of Buildings and Improvements	8,038
Increase (Decrease) in Net Investments	5,175
Carrying Amount of Land	11,855
Carrying Amount of Buildings and Improvements	12,466
Total Carrying Amount	24,321
Accumulated Depreciation	$ 3,420
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | West Shore Expressway Staten Island, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,380
Initial Cost to Company of Buildings and Improvements	13,499
Increase (Decrease) in Net Investments	28
Carrying Amount of Land	3,380
Carrying Amount of Buildings and Improvements	13,527
Total Carrying Amount	16,907
Accumulated Depreciation	$ 4,878
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | West 54th Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 16,699
Initial Cost to Company of Buildings and Improvements	18,704
Increase (Decrease) in Net Investments	1,264
Carrying Amount of Land	16,699
Carrying Amount of Buildings and Improvements	19,968
Total Carrying Amount	36,667
Accumulated Depreciation	$ 6,730
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 5-7 East 17th Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,048
Initial Cost to Company of Buildings and Improvements	7,281
Increase (Decrease) in Net Investments	6,133
Carrying Amount of Land	3,048
Carrying Amount of Buildings and Improvements	13,414
Total Carrying Amount	16,462
Accumulated Depreciation	$ 3,386
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 651-671 W Diversey Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 8,576
Initial Cost to Company of Buildings and Improvements	17,256
Increase (Decrease) in Net Investments	8
Carrying Amount of Land	8,576
Carrying Amount of Buildings and Improvements	17,264
Total Carrying Amount	25,840
Accumulated Depreciation	$ 3,704
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 15 Mercer Street Manhattan NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,887
Initial Cost to Company of Buildings and Improvements	2,483
Increase (Decrease) in Net Investments	1
Carrying Amount of Land	1,887
Carrying Amount of Buildings and Improvements	2,484
Total Carrying Amount	4,371
Accumulated Depreciation	$ 528
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 4401 White Plains Bronx, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,581
Initial Cost to Company of Buildings and Improvements	5,054
Carrying Amount of Land	1,581
Carrying Amount of Buildings and Improvements	5,054
Total Carrying Amount	6,635
Accumulated Depreciation	$ 1,053
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 56E Walton Chicago IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 994
Initial Cost to Company of Buildings and Improvements	6,126
Increase (Decrease) in Net Investments	2,558
Carrying Amount of Land	994
Carrying Amount of Buildings and Improvements	8,684
Total Carrying Amount	9,678
Accumulated Depreciation	$ 177
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 841 W. Armitage Chicago IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 728
Initial Cost to Company of Buildings and Improvements	1,989
Increase (Decrease) in Net Investments	422
Carrying Amount of Land	728
Carrying Amount of Buildings and Improvements	2,411
Total Carrying Amount	3,139
Accumulated Depreciation	$ 517
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 2731 N Clark Chicago IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 557
Initial Cost to Company of Buildings and Improvements	1,839
Increase (Decrease) in Net Investments	32
Carrying Amount of Land	557
Carrying Amount of Buildings and Improvements	1,871
Total Carrying Amount	2,428
Accumulated Depreciation	$ 402
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 1520 Milwaukee Avenue Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 2,110
Initial Cost to Company of Buildings and Improvements	1,306
Increase (Decrease) in Net Investments	290
Carrying Amount of Land	2,110
Carrying Amount of Buildings and Improvements	1,596
Total Carrying Amount	3,706
Accumulated Depreciation	$ 304
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 2140 N Clyboum Chicago IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 306
Initial Cost to Company of Buildings and Improvements	788
Carrying Amount of Land	306
Carrying Amount of Buildings and Improvements	788
Total Carrying Amount	1,094
Accumulated Depreciation	$ 168
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 853 W. Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 557
Initial Cost to Company of Buildings and Improvements	1,946
Increase (Decrease) in Net Investments	439
Carrying Amount of Land	557
Carrying Amount of Buildings and Improvements	2,385
Total Carrying Amount	2,942
Accumulated Depreciation	$ 557
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Rhode Island Place Shopping Center Washington, D.C.
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 7,458
Initial Cost to Company of Buildings and Improvements	15,968
Increase (Decrease) in Net Investments	1,902
Carrying Amount of Land	7,458
Carrying Amount of Buildings and Improvements	17,870
Total Carrying Amount	25,328
Accumulated Depreciation	$ 3,995
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 2299 N. Clybourn Avenue Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 177
Initial Cost to Company of Buildings and Improvements	484
Carrying Amount of Land	177
Carrying Amount of Buildings and Improvements	484
Total Carrying Amount	661
Accumulated Depreciation	$ 102
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 930 Rush Street Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,933
Initial Cost to Company of Buildings and Improvements	14,587
Carrying Amount of Land	4,933
Carrying Amount of Buildings and Improvements	14,587
Total Carrying Amount	19,520
Accumulated Depreciation	$ 2,826
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 843-45 W. Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 731
Initial Cost to Company of Buildings and Improvements	2,730
Increase (Decrease) in Net Investments	228
Carrying Amount of Land	731
Carrying Amount of Buildings and Improvements	2,958
Total Carrying Amount	3,689
Accumulated Depreciation	$ 590
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 28 Jericho Turnpike Westbury, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 13,416
Initial Cost to Company of Land	6,220
Initial Cost to Company of Buildings and Improvements	24,416
Increase (Decrease) in Net Investments	12
Carrying Amount of Land	6,220
Carrying Amount of Buildings and Improvements	24,428
Total Carrying Amount	30,648
Accumulated Depreciation	$ 4,856
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 1525 W. Belmont Avenue Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,480
Initial Cost to Company of Buildings and Improvements	3,338
Increase (Decrease) in Net Investments	710
Carrying Amount of Land	1,480
Carrying Amount of Buildings and Improvements	4,048
Total Carrying Amount	5,528
Accumulated Depreciation	$ 735
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 181 Main Street Westport, CT
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,908
Initial Cost to Company of Buildings and Improvements	12,158
Increase (Decrease) in Net Investments	409
Carrying Amount of Land	1,908
Carrying Amount of Buildings and Improvements	12,567
Total Carrying Amount	14,475
Accumulated Depreciation	$ 2,279
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 2206-08 N. Halsted Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,183
Initial Cost to Company of Buildings and Improvements	3,540
Increase (Decrease) in Net Investments	351
Carrying Amount of Land	1,183
Carrying Amount of Buildings and Improvements	3,891
Total Carrying Amount	5,074
Accumulated Depreciation	$ 961
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 83 Spring Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,754
Initial Cost to Company of Buildings and Improvements	9,200
Carrying Amount of Land	1,754
Carrying Amount of Buildings and Improvements	9,200
Total Carrying Amount	10,954
Accumulated Depreciation	$ 1,725
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 2633 N. Halsted Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 960
Initial Cost to Company of Buildings and Improvements	4,096
Increase (Decrease) in Net Investments	359
Carrying Amount of Land	998
Carrying Amount of Buildings and Improvements	4,417
Total Carrying Amount	5,415
Accumulated Depreciation	$ 837
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 60 Orange Street Bloomfield, NJ
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 7,001
Initial Cost to Company of Land	3,609
Initial Cost to Company of Buildings and Improvements	10,790
Carrying Amount of Land	3,609
Carrying Amount of Buildings and Improvements	10,790
Total Carrying Amount	14,399
Accumulated Depreciation	$ 2,157
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 50-54 E. Walton Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 2,848
Initial Cost to Company of Buildings and Improvements	12,694
Increase (Decrease) in Net Investments	570
Carrying Amount of Land	2,848
Carrying Amount of Buildings and Improvements	13,264
Total Carrying Amount	16,112
Accumulated Depreciation	$ 2,613
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 179-53 & 1801-03 Connecticut Avenue Washington, D.C.
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 11,690
Initial Cost to Company of Buildings and Improvements	10,135
Increase (Decrease) in Net Investments	1,088
Carrying Amount of Land	11,690
Carrying Amount of Buildings and Improvements	11,223
Total Carrying Amount	22,913
Accumulated Depreciation	$ 2,205
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 662 W. Diversey Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,713
Initial Cost to Company of Buildings and Improvements	1,603
Increase (Decrease) in Net Investments	10
Carrying Amount of Land	1,713
Carrying Amount of Buildings and Improvements	1,613
Total Carrying Amount	3,326
Accumulated Depreciation	$ 284
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 639 West Diversey Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,429
Initial Cost to Company of Buildings and Improvements	6,102
Increase (Decrease) in Net Investments	1,034
Carrying Amount of Land	4,429
Carrying Amount of Buildings and Improvements	7,136
Total Carrying Amount	11,565
Accumulated Depreciation	$ 1,503
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 837 W. Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 780
Initial Cost to Company of Buildings and Improvements	1,758
Increase (Decrease) in Net Investments	237
Carrying Amount of Land	780
Carrying Amount of Buildings and Improvements	1,995
Total Carrying Amount	2,775
Accumulated Depreciation	$ 393
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 664 North Michigan Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 15,240
Initial Cost to Company of Buildings and Improvements	65,331
Carrying Amount of Land	15,240
Carrying Amount of Buildings and Improvements	65,331
Total Carrying Amount	80,571
Accumulated Depreciation	$ 11,229
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 823 W. Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 717
Initial Cost to Company of Buildings and Improvements	1,149
Increase (Decrease) in Net Investments	95
Carrying Amount of Land	717
Carrying Amount of Buildings and Improvements	1,244
Total Carrying Amount	1,961
Accumulated Depreciation	$ 223
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 8-12 E. Walton Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 5,398
Initial Cost to Company of Buildings and Improvements	15,601
Increase (Decrease) in Net Investments	978
Carrying Amount of Land	5,398
Carrying Amount of Buildings and Improvements	16,579
Total Carrying Amount	21,977
Accumulated Depreciation	$ 2,910
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 851 W. Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 545
Initial Cost to Company of Buildings and Improvements	209
Increase (Decrease) in Net Investments	139
Carrying Amount of Land	545
Carrying Amount of Buildings and Improvements	348
Total Carrying Amount	893
Accumulated Depreciation	$ 107
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 3200-3204 M Street Washington, DC
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 6,899
Initial Cost to Company of Buildings and Improvements	4,249
Increase (Decrease) in Net Investments	168
Carrying Amount of Land	6,899
Carrying Amount of Buildings and Improvements	4,417
Total Carrying Amount	11,316
Accumulated Depreciation	$ 839
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 1240 W. Belmont Avenue Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 2,137
Initial Cost to Company of Buildings and Improvements	1,589
Increase (Decrease) in Net Investments	583
Carrying Amount of Land	2,137
Carrying Amount of Buildings and Improvements	2,172
Total Carrying Amount	4,309
Accumulated Depreciation	$ 456
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 868 Broadway Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,519
Initial Cost to Company of Buildings and Improvements	9,247
Increase (Decrease) in Net Investments	5
Carrying Amount of Land	3,519
Carrying Amount of Buildings and Improvements	9,252
Total Carrying Amount	12,771
Accumulated Depreciation	$ 1,405
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 21 E. Chestnut Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,318
Initial Cost to Company of Buildings and Improvements	8,468
Increase (Decrease) in Net Investments	34
Carrying Amount of Land	1,318
Carrying Amount of Buildings and Improvements	8,502
Total Carrying Amount	9,820
Accumulated Depreciation	$ 1,503
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 313-315 Bowery Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 5,516
Carrying Amount of Buildings and Improvements	5,516
Total Carrying Amount	5,516
Accumulated Depreciation	$ 1,339
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 819 W. Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 790
Initial Cost to Company of Buildings and Improvements	1,266
Increase (Decrease) in Net Investments	140
Carrying Amount of Land	790
Carrying Amount of Buildings and Improvements	1,406
Total Carrying Amount	2,196
Accumulated Depreciation	$ 336
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 120 West Broadway Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 32,819
Increase (Decrease) in Net Investments	1,124
Carrying Amount of Buildings and Improvements	33,943
Total Carrying Amount	33,943
Accumulated Depreciation	$ 3,403
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 11 E. Walton Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 16,744
Initial Cost to Company of Buildings and Improvements	28,346
Increase (Decrease) in Net Investments	195
Carrying Amount of Land	16,744
Carrying Amount of Buildings and Improvements	28,541
Total Carrying Amount	45,285
Accumulated Depreciation	$ 4,373
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 330-340 River St Cambridge, MA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 11,140
Initial Cost to Company of Land	8,404
Initial Cost to Company of Buildings and Improvements	14,235
Carrying Amount of Land	8,404
Carrying Amount of Buildings and Improvements	14,235
Total Carrying Amount	22,639
Accumulated Depreciation	$ 2,914
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 61 Main St. Westport, CT
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,578
Initial Cost to Company of Buildings and Improvements	2,645
Increase (Decrease) in Net Investments	789
Carrying Amount of Land	4,578
Carrying Amount of Buildings and Improvements	3,434
Total Carrying Amount	8,012
Accumulated Depreciation	$ 436
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 865 W. North Avenue Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,893
Initial Cost to Company of Buildings and Improvements	11,594
Increase (Decrease) in Net Investments	41
Carrying Amount of Land	1,893
Carrying Amount of Buildings and Improvements	11,635
Total Carrying Amount	13,528
Accumulated Depreciation	$ 1,688
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 152-154 Spring St. Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 8,544
Initial Cost to Company of Buildings and Improvements	27,001
Increase (Decrease) in Net Investments	180
Carrying Amount of Land	8,544
Carrying Amount of Buildings and Improvements	27,181
Total Carrying Amount	35,725
Accumulated Depreciation	$ 3,878
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 2520 Flatbush Ave Brooklyn, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 6,613
Initial Cost to Company of Buildings and Improvements	10,419
Increase (Decrease) in Net Investments	303
Carrying Amount of Land	6,613
Carrying Amount of Buildings and Improvements	10,722
Total Carrying Amount	17,335
Accumulated Depreciation	$ 1,575
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 252-256 Greenwich Avenue Greenwich, CT
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 10,175
Initial Cost to Company of Buildings and Improvements	12,641
Increase (Decrease) in Net Investments	544
Carrying Amount of Land	10,175
Carrying Amount of Buildings and Improvements	13,185
Total Carrying Amount	23,360
Accumulated Depreciation	$ 2,008
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Bedford Green Bedford Hills, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 12,425
Initial Cost to Company of Buildings and Improvements	32,730
Increase (Decrease) in Net Investments	4,370
Carrying Amount of Land	13,763
Carrying Amount of Buildings and Improvements	35,762
Total Carrying Amount	49,525
Accumulated Depreciation	$ 5,263
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 131-135 Prince Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 57,536
Increase (Decrease) in Net Investments	625
Carrying Amount of Buildings and Improvements	58,161
Total Carrying Amount	58,161
Accumulated Depreciation	$ 14,554
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Shops at Grand Ave Queens, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 20,264
Initial Cost to Company of Buildings and Improvements	33,131
Increase (Decrease) in Net Investments	1,715
Carrying Amount of Land	20,264
Carrying Amount of Buildings and Improvements	34,846
Total Carrying Amount	55,110
Accumulated Depreciation	$ 4,615
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 201 Needham St. Newton, MA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,550
Initial Cost to Company of Buildings and Improvements	4,459
Increase (Decrease) in Net Investments	105
Carrying Amount of Land	4,550
Carrying Amount of Buildings and Improvements	4,564
Total Carrying Amount	9,114
Accumulated Depreciation	$ 652
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | City Center San Francisco, CA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 36,063
Initial Cost to Company of Buildings and Improvements	109,098
Increase (Decrease) in Net Investments	(24,600)
Carrying Amount of Land	26,386
Carrying Amount of Buildings and Improvements	94,175
Total Carrying Amount	120,561
Accumulated Depreciation	$ 13,356
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 163 Highland Avenue Needham, MA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 8,582
Initial Cost to Company of Land	12,679
Initial Cost to Company of Buildings and Improvements	11,213
Increase (Decrease) in Net Investments	43
Carrying Amount of Land	12,679
Carrying Amount of Buildings and Improvements	11,256
Total Carrying Amount	23,935
Accumulated Depreciation	$ 1,486
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Roosevelt Galleria Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,838
Initial Cost to Company of Buildings and Improvements	14,574
Increase (Decrease) in Net Investments	61
Carrying Amount of Land	4,838
Carrying Amount of Buildings and Improvements	14,635
Total Carrying Amount	19,473
Accumulated Depreciation	$ 1,590
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Route 202 Shopping Center Wilmington, DE
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 6,346
Increase (Decrease) in Net Investments	501
Carrying Amount of Buildings and Improvements	6,847
Total Carrying Amount	6,847
Accumulated Depreciation	$ 1,297
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 165 Newbury Street - Boston, MA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,918
Initial Cost to Company of Buildings and Improvements	3,980
Carrying Amount of Land	1,918
Carrying Amount of Buildings and Improvements	3,980
Total Carrying Amount	5,898
Accumulated Depreciation	$ 365
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Concord & Milwaukee - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,650
Initial Cost to Company of Land	2,739
Initial Cost to Company of Buildings and Improvements	2,746
Increase (Decrease) in Net Investments	246
Carrying Amount of Land	2,739
Carrying Amount of Buildings and Improvements	2,992
Total Carrying Amount	5,731
Accumulated Depreciation	$ 278
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | State & Washington - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 23,881
Initial Cost to Company of Land	3,907
Initial Cost to Company of Buildings and Improvements	70,943
Increase (Decrease) in Net Investments	5,436
Carrying Amount of Land	3,907
Carrying Amount of Buildings and Improvements	76,379
Total Carrying Amount	80,286
Accumulated Depreciation	$ 6,205
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 151 N. State Street Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 13,574
Initial Cost to Company of Land	1,941
Initial Cost to Company of Buildings and Improvements	25,529
Carrying Amount of Land	1,941
Carrying Amount of Buildings and Improvements	25,529
Total Carrying Amount	27,470
Accumulated Depreciation	$ 2,181
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | North & Kingsbury - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 12,164
Initial Cost to Company of Land	18,731
Initial Cost to Company of Buildings and Improvements	16,292
Increase (Decrease) in Net Investments	192
Carrying Amount of Land	18,731
Carrying Amount of Buildings and Improvements	16,484
Total Carrying Amount	35,215
Accumulated Depreciation	$ 1,420
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Sullivan Center - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 50,000
Initial Cost to Company of Land	13,443
Initial Cost to Company of Buildings and Improvements	137,327
Increase (Decrease) in Net Investments	536
Carrying Amount of Land	13,443
Carrying Amount of Buildings and Improvements	137,863
Total Carrying Amount	151,306
Accumulated Depreciation	$ 11,837
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | California & Armitage - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,506
Initial Cost to Company of Land	6,770
Initial Cost to Company of Buildings and Improvements	2,292
Increase (Decrease) in Net Investments	2
Carrying Amount of Land	6,770
Carrying Amount of Buildings and Improvements	2,294
Total Carrying Amount	9,064
Accumulated Depreciation	$ 211
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 555 9th Street - San Francisco, CA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 60,000
Initial Cost to Company of Land	75,591
Initial Cost to Company of Buildings and Improvements	73,268
Increase (Decrease) in Net Investments	82
Carrying Amount of Land	75,591
Carrying Amount of Buildings and Improvements	73,350
Total Carrying Amount	148,941
Accumulated Depreciation	$ 5,848
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Market Square Wilmington, DE
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 8,100
Initial Cost to Company of Buildings and Improvements	31,221
Increase (Decrease) in Net Investments	313
Carrying Amount of Land	8,100
Carrying Amount of Buildings and Improvements	31,534
Total Carrying Amount	39,634
Accumulated Depreciation	$ 1,807
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Undeveloped Land
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 100
Carrying Amount of Land	100
Total Carrying Amount	100
Core Portfolio | 991 Madison Avenue Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	76,965
Increase (Decrease) in Net Investments	1,691
Carrying Amount of Buildings and Improvements	78,656
Total Carrying Amount	78,656
Accumulated Depreciation	$ 6,160
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 613-623 W. Diversey Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 10,061
Initial Cost to Company of Buildings and Improvements	2,773
Increase (Decrease) in Net Investments	11,101
Carrying Amount of Land	10,061
Carrying Amount of Buildings and Improvements	13,874
Total Carrying Amount	23,935
Accumulated Depreciation	$ 3,408
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 51 Greene Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,488
Initial Cost to Company of Buildings and Improvements	8,992
Carrying Amount of Land	4,488
Carrying Amount of Buildings and Improvements	8,992
Total Carrying Amount	13,480
Accumulated Depreciation	$ 187
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 53 Greene Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 3,605
Initial Cost to Company of Buildings and Improvements	12,177
Carrying Amount of Land	3,605
Carrying Amount of Buildings and Improvements	12,177
Total Carrying Amount	15,782
Accumulated Depreciation	$ 228
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 41 Greene Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 6,276
Initial Cost to Company of Buildings and Improvements	9,582
Carrying Amount of Land	6,276
Carrying Amount of Buildings and Improvements	9,582
Total Carrying Amount	15,858
Accumulated Depreciation	$ 140
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 47 Greene Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 6,265
Initial Cost to Company of Buildings and Improvements	16,758
Carrying Amount of Land	6,265
Carrying Amount of Buildings and Improvements	16,758
Total Carrying Amount	23,023
Accumulated Depreciation	$ 175
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 849 W Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 837
Initial Cost to Company of Buildings and Improvements	2,731
Carrying Amount of Land	837
Carrying Amount of Buildings and Improvements	2,731
Total Carrying Amount	3,568
Accumulated Depreciation	$ 24
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 912 W Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 982
Initial Cost to Company of Buildings and Improvements	2,868
Carrying Amount of Land	982
Carrying Amount of Buildings and Improvements	2,868
Total Carrying Amount	3,850
Accumulated Depreciation	$ 25
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | Melrose Place Collection Los Angeles, CA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 20,490
Initial Cost to Company of Buildings and Improvements	26,788
Carrying Amount of Land	20,490
Carrying Amount of Buildings and Improvements	26,788
Total Carrying Amount	47,278
Accumulated Depreciation	$ 112
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 45 Greene Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 2,903
Initial Cost to Company of Buildings and Improvements	8,487
Carrying Amount of Land	2,903
Carrying Amount of Buildings and Improvements	8,487
Total Carrying Amount	11,390
Accumulated Depreciation	$ 39
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 565 Broadway Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 22,491
Carrying Amount of Buildings and Improvements	22,491
Total Carrying Amount	$ 22,491
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Core Portfolio | 907 W Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 700
Initial Cost to Company of Buildings and Improvements	2,081
Carrying Amount of Land	700
Carrying Amount of Buildings and Improvements	2,081
Total Carrying Amount	2,781
Accumulated Depreciation	$ 5
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund II | City Point Brooklyn, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 243,298
Initial Cost to Company of Buildings and Improvements	100,316
Increase (Decrease) in Net Investments	491,335
Carrying Amount of Buildings and Improvements	591,651
Total Carrying Amount	591,651
Accumulated Depreciation	$ 48,096
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund III | 654 Broadway Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 9,040
Initial Cost to Company of Buildings and Improvements	3,654
Increase (Decrease) in Net Investments	4,177
Carrying Amount of Land	9,040
Carrying Amount of Buildings and Improvements	7,831
Total Carrying Amount	16,871
Accumulated Depreciation	$ 1,549
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund III | 640 Broadway Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 39,470
Initial Cost to Company of Land	12,503
Initial Cost to Company of Buildings and Improvements	19,960
Increase (Decrease) in Net Investments	15,225
Carrying Amount of Land	12,503
Carrying Amount of Buildings and Improvements	35,185
Total Carrying Amount	47,688
Accumulated Depreciation	$ 6,970
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund III | Cortlandt Crossing Mohegan Lake, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 28,818
Initial Cost to Company of Land	11,000
Increase (Decrease) in Net Investments	59,277
Carrying Amount of Land	10,473
Carrying Amount of Buildings and Improvements	59,804
Total Carrying Amount	70,277
Accumulated Depreciation	$ 2,005
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 210 Bowery Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 1,875
Initial Cost to Company of Buildings and Improvements	5,625
Increase (Decrease) in Net Investments	(3,950)
Carrying Amount of Land	1,875
Carrying Amount of Buildings and Improvements	1,675
Total Carrying Amount	3,550
Accumulated Depreciation	$ 57
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Paramus Plaza Paramus, NJ
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 18,900
Initial Cost to Company of Land	11,052
Initial Cost to Company of Buildings and Improvements	7,037
Increase (Decrease) in Net Investments	12,901
Carrying Amount of Land	11,052
Carrying Amount of Buildings and Improvements	19,938
Total Carrying Amount	30,990
Accumulated Depreciation	$ 4,304
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 27 E. 61st Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,813
Initial Cost to Company of Buildings and Improvements	14,438
Increase (Decrease) in Net Investments	7,241
Carrying Amount of Land	4,813
Carrying Amount of Buildings and Improvements	21,679
Total Carrying Amount	26,492
Accumulated Depreciation	$ 1,311
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 17 E. 71st Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 18,833
Initial Cost to Company of Land	7,391
Initial Cost to Company of Buildings and Improvements	20,176
Increase (Decrease) in Net Investments	306
Carrying Amount of Land	7,391
Carrying Amount of Buildings and Improvements	20,482
Total Carrying Amount	27,873
Accumulated Depreciation	$ 2,987
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 1035 Third Ave Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 12,759
Initial Cost to Company of Buildings and Improvements	37,431
Increase (Decrease) in Net Investments	5,541
Carrying Amount of Land	14,099
Carrying Amount of Buildings and Improvements	41,632
Total Carrying Amount	55,731
Accumulated Depreciation	$ 6,070
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 801 Madison Avenue Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 4,178
Initial Cost to Company of Buildings and Improvements	28,470
Increase (Decrease) in Net Investments	5,844
Carrying Amount of Land	4,178
Carrying Amount of Buildings and Improvements	34,314
Total Carrying Amount	38,492
Accumulated Depreciation	$ 2,085
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 2208-2216 Fillmore Street San Francisco, CA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,606
Initial Cost to Company of Land	3,027
Initial Cost to Company of Buildings and Improvements	6,376
Increase (Decrease) in Net Investments	57
Carrying Amount of Land	3,027
Carrying Amount of Buildings and Improvements	6,433
Total Carrying Amount	9,460
Accumulated Depreciation	$ 734
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 2207 Fillmore Street San Francisco, CA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,120
Initial Cost to Company of Land	1,498
Initial Cost to Company of Buildings and Improvements	1,735
Increase (Decrease) in Net Investments	118
Carrying Amount of Land	1,498
Carrying Amount of Buildings and Improvements	1,853
Total Carrying Amount	3,351
Accumulated Depreciation	$ 213
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 1964 Union Street San Francisco, CA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,463
Initial Cost to Company of Land	563
Initial Cost to Company of Buildings and Improvements	1,688
Increase (Decrease) in Net Investments	1,867
Carrying Amount of Land	563
Carrying Amount of Buildings and Improvements	3,555
Total Carrying Amount	4,118
Accumulated Depreciation	$ 230
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Restaurants at Fort Point - Boston, MA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 6,070
Initial Cost to Company of Land	1,041
Initial Cost to Company of Buildings and Improvements	10,905
Increase (Decrease) in Net Investments	182
Carrying Amount of Land	1,041
Carrying Amount of Buildings and Improvements	11,087
Total Carrying Amount	12,128
Accumulated Depreciation	$ 1,200
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Wake Forest Crossing - Wake Forest, NC
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 23,337
Initial Cost to Company of Land	7,570
Initial Cost to Company of Buildings and Improvements	24,829
Increase (Decrease) in Net Investments	472
Carrying Amount of Land	7,570
Carrying Amount of Buildings and Improvements	25,301
Total Carrying Amount	32,871
Accumulated Depreciation	$ 2,846
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Airport Mall - Bangor, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,334
Initial Cost to Company of Land	2,294
Initial Cost to Company of Buildings and Improvements	7,067
Increase (Decrease) in Net Investments	1,882
Carrying Amount of Land	2,294
Carrying Amount of Buildings and Improvements	8,949
Total Carrying Amount	11,243
Accumulated Depreciation	$ 868
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Colonie Plaza - Albany, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 11,713
Initial Cost to Company of Land	2,852
Initial Cost to Company of Buildings and Improvements	9,619
Increase (Decrease) in Net Investments	273
Carrying Amount of Land	2,852
Carrying Amount of Buildings and Improvements	9,892
Total Carrying Amount	12,744
Accumulated Depreciation	$ 1,021
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Dauphin Plaza - Harrisburg, PA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 12,718
Initial Cost to Company of Land	5,290
Initial Cost to Company of Buildings and Improvements	9,464
Increase (Decrease) in Net Investments	3,056
Carrying Amount of Land	5,290
Carrying Amount of Buildings and Improvements	12,520
Total Carrying Amount	17,810
Accumulated Depreciation	$ 1,557
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Mayfair Shopping Center - Philadelphia, PA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 11,895
Initial Cost to Company of Land	6,178
Initial Cost to Company of Buildings and Improvements	9,266
Increase (Decrease) in Net Investments	1,132
Carrying Amount of Land	6,178
Carrying Amount of Buildings and Improvements	10,398
Total Carrying Amount	16,576
Accumulated Depreciation	$ 1,061
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Shaw's Plaza Waterville, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 7,636
Initial Cost to Company of Land	828
Initial Cost to Company of Buildings and Improvements	11,814
Increase (Decrease) in Net Investments	272
Carrying Amount of Land	828
Carrying Amount of Buildings and Improvements	12,086
Total Carrying Amount	12,914
Accumulated Depreciation	$ 1,162
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Wells Plaza - Wells, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,700
Initial Cost to Company of Land	1,892
Initial Cost to Company of Buildings and Improvements	2,585
Increase (Decrease) in Net Investments	505
Carrying Amount of Land	1,892
Carrying Amount of Buildings and Improvements	3,090
Total Carrying Amount	4,982
Accumulated Depreciation	$ 424
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 717 N Michigan - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 16,148
Initial Cost to Company of Land	20,674
Initial Cost to Company of Buildings and Improvements	10,093
Carrying Amount of Land	20,674
Carrying Amount of Buildings and Improvements	10,093
Total Carrying Amount	30,767
Accumulated Depreciation	$ 843
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Shaw's Plaza North Windham, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,702
Initial Cost to Company of Land	1,876
Initial Cost to Company of Buildings and Improvements	6,696
Increase (Decrease) in Net Investments	1
Carrying Amount of Land	1,876
Carrying Amount of Buildings and Improvements	6,697
Total Carrying Amount	8,573
Accumulated Depreciation	$ 509
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | Lincoln Place Fairview Heights, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 23,100
Initial Cost to Company of Land	7,149
Initial Cost to Company of Buildings and Improvements	22,201
Increase (Decrease) in Net Investments	2,035
Carrying Amount of Land	7,149
Carrying Amount of Buildings and Improvements	24,236
Total Carrying Amount	31,385
Accumulated Depreciation	$ 2,215
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 18 E. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,032
Initial Cost to Company of Land	609
Initial Cost to Company of Buildings and Improvements	1,513
Carrying Amount of Land	609
Carrying Amount of Buildings and Improvements	1,513
Total Carrying Amount	2,122
Accumulated Depreciation	$ 51
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 20 E. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,258
Initial Cost to Company of Land	588
Initial Cost to Company of Buildings and Improvements	937
Carrying Amount of Land	588
Carrying Amount of Buildings and Improvements	937
Total Carrying Amount	1,525
Accumulated Depreciation	$ 32
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 25 E. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 3,302
Initial Cost to Company of Land	1,324
Initial Cost to Company of Buildings and Improvements	2,459
Increase (Decrease) in Net Investments	319
Carrying Amount of Land	1,324
Carrying Amount of Buildings and Improvements	2,778
Total Carrying Amount	4,102
Accumulated Depreciation	$ 109
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 109 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 8,809
Initial Cost to Company of Land	2,343
Initial Cost to Company of Buildings and Improvements	6,560
Carrying Amount of Land	2,343
Carrying Amount of Buildings and Improvements	6,560
Total Carrying Amount	8,903
Accumulated Depreciation	$ 223
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 204-206 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 590
Initial Cost to Company of Land	547
Initial Cost to Company of Buildings and Improvements	439
Increase (Decrease) in Net Investments	45
Carrying Amount of Land	547
Carrying Amount of Buildings and Improvements	484
Total Carrying Amount	1,031
Accumulated Depreciation	$ 15
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 216-218 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 3,674
Initial Cost to Company of Land	1,160
Initial Cost to Company of Buildings and Improvements	2,736
Increase (Decrease) in Net Investments	17
Carrying Amount of Land	1,160
Carrying Amount of Buildings and Improvements	2,753
Total Carrying Amount	3,913
Accumulated Depreciation	$ 94
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 220 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,416
Initial Cost to Company of Land	619
Initial Cost to Company of Buildings and Improvements	1,799
Carrying Amount of Land	619
Carrying Amount of Buildings and Improvements	1,799
Total Carrying Amount	2,418
Accumulated Depreciation	$ 61
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 223 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 924
Initial Cost to Company of Land	465
Initial Cost to Company of Buildings and Improvements	688
Carrying Amount of Land	465
Carrying Amount of Buildings and Improvements	688
Total Carrying Amount	1,153
Accumulated Depreciation	$ 24
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 226-228 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,551
Initial Cost to Company of Land	660
Initial Cost to Company of Buildings and Improvements	1,900
Carrying Amount of Land	660
Carrying Amount of Buildings and Improvements	1,900
Total Carrying Amount	2,560
Accumulated Depreciation	$ 64
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 309/311 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 3,619
Initial Cost to Company of Land	1,160
Initial Cost to Company of Buildings and Improvements	2,695
Carrying Amount of Land	1,160
Carrying Amount of Buildings and Improvements	2,695
Total Carrying Amount	3,855
Accumulated Depreciation	$ 91
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund IV | 110 University Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 1,370
Carrying Amount of Buildings and Improvements	1,370
Total Carrying Amount	1,370
Accumulated Depreciation	$ 25
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Plaza Santa Fe Santa Fe, NM
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 22,893
Initial Cost to Company of Buildings and Improvements	28,214
Increase (Decrease) in Net Investments	360
Carrying Amount of Buildings and Improvements	28,574
Total Carrying Amount	28,574
Accumulated Depreciation	$ 2,047
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Hickory Ridge - Hickory, NC
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 30,000
Initial Cost to Company of Land	7,852
Initial Cost to Company of Buildings and Improvements	29,998
Increase (Decrease) in Net Investments	1,350
Carrying Amount of Land	7,852
Carrying Amount of Buildings and Improvements	31,348
Total Carrying Amount	39,200
Accumulated Depreciation	$ 2,120
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | New Towne Plaza - Canton, MI
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 16,900
Initial Cost to Company of Land	5,040
Initial Cost to Company of Buildings and Improvements	17,391
Increase (Decrease) in Net Investments	59
Carrying Amount of Land	5,040
Carrying Amount of Buildings and Improvements	17,450
Total Carrying Amount	22,490
Accumulated Depreciation	$ 1,210
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Fairlane Green Allen Park, MI
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 40,300
Initial Cost to Company of Land	18,121
Initial Cost to Company of Buildings and Improvements	37,143
Increase (Decrease) in Net Investments	256
Carrying Amount of Land	18,121
Carrying Amount of Buildings and Improvements	37,399
Total Carrying Amount	55,520
Accumulated Depreciation	$ 2,059
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Trussville Promenade Birmingham, AL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 29,370
Initial Cost to Company of Land	7,587
Initial Cost to Company of Buildings and Improvements	34,285
Increase (Decrease) in Net Investments	36
Carrying Amount of Land	7,587
Carrying Amount of Buildings and Improvements	34,321
Total Carrying Amount	41,908
Accumulated Depreciation	$ 1,713
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Elk Grove Commons Elk Grove, CA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 41,500
Initial Cost to Company of Land	6,204
Initial Cost to Company of Buildings and Improvements	48,008
Increase (Decrease) in Net Investments	70
Carrying Amount of Land	6,204
Carrying Amount of Buildings and Improvements	48,078
Total Carrying Amount	54,282
Accumulated Depreciation	$ 1,786
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Hiram Pavilion Hiram, GA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 28,830
Initial Cost to Company of Land	13,029
Initial Cost to Company of Buildings and Improvements	25,446
Increase (Decrease) in Net Investments	56
Carrying Amount of Land	13,029
Carrying Amount of Buildings and Improvements	25,502
Total Carrying Amount	38,531
Accumulated Depreciation	$ 964
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Palm Coast Landing Palm Coast, FL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 26,500
Initial Cost to Company of Land	7,066
Initial Cost to Company of Buildings and Improvements	27,299
Carrying Amount of Land	7,066
Carrying Amount of Buildings and Improvements	27,299
Total Carrying Amount	34,365
Accumulated Depreciation	$ 554
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Lincoln Commons Lincoln, RI
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 38,820
Initial Cost to Company of Land	14,429
Initial Cost to Company of Buildings and Improvements	34,417
Increase (Decrease) in Net Investments	170
Carrying Amount of Land	14,429
Carrying Amount of Buildings and Improvements	34,587
Total Carrying Amount	49,016
Accumulated Depreciation	$ 517
Life on which Depreciation in Latest Statement of Income is Compared	40 years
Opportunity Funds | Fund V | Landstown Commons Virginia Beach, VA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 60,900
Initial Cost to Company of Land	10,221
Initial Cost to Company of Buildings and Improvements	69,005
Increase (Decrease) in Net Investments	166
Carrying Amount of Land	10,221
Carrying Amount of Buildings and Improvements	69,171
Total Carrying Amount	79,392
Accumulated Depreciation	$ 766
Life on which Depreciation in Latest Statement of Income is Compared	40 years

SCHEDULE III - REAL ESTATE AN_3

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Reconciliation of Real Estate Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Balance at beginning of year	$ 3,697,805	$ 3,466,482	$ 3,382,000
Improvements and other	97,000	99,594	55,763
Property acquisitions	303,884	134,559	179,292
Property dispositions or held for sale assets	(84,243)	(34,666)	(189,895)
Right-of-use assets - operating leases obtained	62,020
Right-of-use assets - finance leases obtained and reclassified	102,055
Capital lease reclassified as Right-of-use assets - finance lease	(76,965)
Right-of-use assets - operating lease amortization	(2,014)
Consolidation of previously unconsolidated investments		31,836	39,322
Balance at end of year	$ 4,099,542	$ 3,697,805	$ 3,466,482

SCHEDULE III - REAL ESTATE AN_4

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Reconciliation of Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Balance at beginning of year	$ 416,657	$ 339,862	$ 287,066
Depreciation related to real estate	85,317	78,453	73,268
Property dispositions	(11,747)	(1,658)	(20,472)
Balance at end of year	$ 490,227	$ 416,657	$ 339,862

SCHEDULE IV - MORTGAGE LOANS _2

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - Loans On Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Mortgage Loans on Real Estate [Line Items]
Face Amount of Notes Receivable	$ 226,301
Net carrying amount of notes receivable	$ 114,943	$ 111,775	$ 160,991	$ 283,125
First Mortgage Loan, 6.0% Loan, Due 4/30/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	6.00%
Face Amount of Notes Receivable	$ 17,810
Net carrying amount of notes receivable	$ 17,802
First Mortgage Loan, 8.1% Loan, Due 6/20/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	8.10%
Face Amount of Notes Receivable	$ 153,400
Net carrying amount of notes receivable	$ 38,673
Zero Coupon Loan Due 5/31/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	2.50%
Face Amount of Notes Receivable	$ 29,793
Net carrying amount of notes receivable	$ 33,170
Mezzanine Loan 18.0% Loan Due 7/1/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	18.00%
Face Amount of Notes Receivable	$ 5,306
Net carrying amount of notes receivable	$ 5,306
First Mortgage Loan, 5.1% Loan, Due 10/28/2021
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	5.10%
Face Amount of Notes Receivable	$ 13,530
Net carrying amount of notes receivable	$ 13,530
Other, 4.65% Loan, Due 4/12/2026
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	4.65%
Face Amount of Notes Receivable	$ 6,000
Net carrying amount of notes receivable	$ 6,000
Other, 4.82% Loan, Due 4/10/2021
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	4.82%
Face Amount of Notes Receivable	$ 462
Net carrying amount of notes receivable	$ 462

SCHEDULE IV - MORTGAGE LOANS _3

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - Reconciliation of Loans on Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	$ 111,775	$ 160,991	$ 283,125
Additions	18,418	3,805	11,571
Repayments	(15,250)	(31,000)	(32,000)
Conversion to real estate through receipt of deed		(22,021)	(101,705)
Balance at end of year	$ 114,943	$ 111,775	$ 160,991