Acadia Realty Trust (AKR) 10-K 22 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Feb. 12, 2021	Jun. 30, 2020
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, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		86,284,143
Entity Public Float			$ 2,362
Entity Shell Company	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
ICFR Auditor Attestation Flag	false
Entity Current Reporting Status	Yes
Entity File Number	001-12002
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 2021 Annual Meeting of Shareholders presently scheduled to be held May 6, 2021 to be filed pursuant to Regulation 14A.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Operating real estate, net	$ 3,260,139	$ 3,295,907
Real estate under development	247,349	253,402
Net investments in real estate	3,507,488	3,549,309
Notes receivable, net	101,450	114,943
Investments in and advances to unconsolidated affiliates	249,807	305,097
Other assets, net	173,809	190,658
Right-of-use assets - operating leases, net	76,268	60,006
Cash and cash equivalents	19,232	15,845
Restricted cash	14,692	14,165
Rents receivable	44,136	59,091
Total assets	4,186,882	4,309,114
LIABILITIES
Mortgage and other notes payable, net	1,125,356	1,170,076
Unsecured notes payable, net	500,083	477,320
Unsecured line of credit	138,400	60,800
Accounts payable and other liabilities	269,911	314,754
Lease liability - operating leases, net	88,816	56,762
Dividends and distributions payable	147	27,075
Distributions in excess of income from, and investments in, unconsolidated affiliates	15,616	15,362
Total liabilities	2,138,329	2,122,149
Commitments and contingencies
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,268,303 and 87,050,465 shares, respectively	86	87
Additional paid-in capital	1,683,165	1,706,357
Accumulated other comprehensive loss	(74,891)	(31,175)
Distributions in excess of accumulated earnings	(167,046)	(132,961)
Total Acadia shareholders’ equity	1,441,314	1,542,308
Noncontrolling interests	607,239	644,657
Total equity	2,048,553	2,186,965
Total liabilities and equity	$ 4,186,882	$ 4,309,114

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
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)	86,268,303	87,050,465
Common shares, outstanding (in shares)	86,268,303	87,050,465

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Rental income	$ 251,002	$ 291,190	$ 254,508
Revenues	255,484	295,327	259,681
Operating expenses
Depreciation and amortization	149,793	125,443	117,549
General and administrative	36,055	35,416	34,343
Real estate taxes	43,505	39,315	36,712
Property operating	56,595	51,153	43,536
Impairment charges	85,598	1,721
Total operating expenses	371,546	253,048	232,140
Gain on disposition of properties	683	30,324	5,140
Operating (loss) income	(115,379)	72,603	32,681
Equity in (losses) earnings of unconsolidated affiliates	(1,237)	8,922	9,302
Interest income	8,979	7,988	13,231
Realized and unrealized holding gains on investments and other	113,930	6,947
Interest expense	(72,060)	(73,788)	(69,978)
(Loss) income from continuing operations before income taxes	(65,767)	22,672	(14,764)
Income tax provision	(271)	(1,468)	(934)
Net (loss) income	(66,038)	21,204	(15,698)
Net loss attributable to noncontrolling interests	57,279	31,841	47,137
Net (loss) income attributable to Acadia	$ (8,759)	$ 53,045	$ 31,439
Basic and diluted (loss) earnings per share	$ (0.10)	$ 0.62	$ 0.38
Other
Revenues	$ 4,482	$ 4,137	$ 5,173

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (66,038)	$ 21,204	$ (15,698)
Other comprehensive loss:
Unrealized loss on valuation of swap agreements	(74,236)	(35,674)	(2,659)
Reclassification of realized interest on swap agreements	15,203	(872)	71
Other comprehensive loss	(59,033)	(36,546)	(2,588)
Comprehensive loss	(125,071)	(15,342)	(18,286)
Comprehensive loss attributable to noncontrolling interests	72,596	36,696	47,627
Comprehensive (loss) income attributable to Acadia	$ (52,475)	$ 21,354	$ 29,341

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect of Change in Accounting Principle	Common Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Distributions in Excess of Accumulated Earnings	Distributions in Excess of Accumulated EarningsCumulative Effect of Change in Accounting Principle	Total Common Shareholders? Equity	Total Common Shareholders? EquityCumulative Effect of Change in Accounting Principle	Noncontrolling Interests	Noncontrolling InterestsCumulative Effect of Change in Accounting Principle
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)			(2,294,000)
Dividends/distributions declared ($0.29, $1.13 and $1.09 per Common Share/OP Unit for Year Ended Dec 31, 2020, 2019 and 2018)	(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)
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			81,557,000
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 ($0.29, $1.13 and $1.09 per Common Share/OP Unit for Year Ended Dec 31, 2020, 2019 and 2018)	(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)
Balance at Dec. 31, 2019	$ 2,186,965	$ (400)	$ 87	1,706,357	(31,175)	(132,961)	$ (389)	1,542,308	$ (389)	644,657	$ (11)
Balance (in Shares) at Dec. 31, 2019	87,050,465		87,050,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of noncontrolling interest	$ 588			(15,330)				(15,330)		15,918
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0			6,544				6,544		(6,544)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (in Shares)			408,000
Repurchase of Common Shares	(22,386)		$ (1)	(22,385)				(22,386)
Repurchase of Common Shares (in shares)			(1,219,000)
Dividends/distributions declared ($0.29, $1.13 and $1.09 per Common Share/OP Unit for Year Ended Dec 31, 2020, 2019 and 2018)	(27,155)					(24,937)		(24,937)		(2,218)
Employee and trustee stock compensation, net	10,912			782				782		10,130
Employee and trustee stock compensation, net (in Shares)			30,000
Noncontrolling interest distributions	(27,574)									(27,574)
Noncontrolling interest contributions	52,674									52,674
Comprehensive (loss) income	(125,071)				(43,716)	(8,759)		(52,475)		(72,596)
Reallocation of noncontrolling interests	0			7,197				7,197		(7,197)
Balance at Dec. 31, 2020	$ 2,048,553		$ 86	$ 1,683,165	$ (74,891)	$ (167,046)		$ 1,441,314		$ 607,239
Balance (in Shares) at Dec. 31, 2020	86,268,303		86,269,000

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Stockholders Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.29	$ 0.28	$ 0.29	$ 1.13	$ 1.09

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (66,038)	$ 21,204	$ (15,698)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	149,793	125,443	117,549
Straight-line rents	(5,096)	(5,198)	(8,616)
Noncash lease expense	3,392
Net unrealized holding gains on investments	(72,391)
Distributions of operating income from unconsolidated affiliates	3,286	11,273	15,556
Equity in earnings and gains of unconsolidated affiliates	1,237	(8,922)	(9,302)
Stock compensation expense	10,912	10,957	12,948
Amortization of financing costs	5,169	7,577	6,008
Impairment charges	85,598	1,721
Gain on disposition of properties	(683)	(30,324)	(5,140)
Gain on debt extinguishment	(18,339)
Allowance for credit loss	24,770	2,625	(87)
Adjustments to straight-line rent reserves	22,074	1,776	2,620
Deferred gain on tax credits		(5,034)
Other, net	(8,753)	(11,627)	(11,768)
Changes in assets and liabilities:
Other liabilities	(4,208)	(4,466)	6,161
Lease liability - operating leases	(1,579)
Prepaid expenses and other assets	32	8,198	(7,168)
Rents receivable, net	(29,810)	342	(3,961)
Accounts payable and accrued expenses	3,199	1,632	(3,026)
Net cash provided by operating activities	102,565	127,177	96,076
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate	(21,208)	(319,673)	(147,985)
Acquisition of leasehold interests		(39,031)
Development, construction and property improvement costs	(40,483)	(89,270)	(94,834)
Proceeds from the disposition of properties, net	20,930	88,738	63,866
Investments in and advances to unconsolidated affiliates and other	(4,291)	(151,281)	(3,161)
Return of capital from unconsolidated affiliates and other	14,686	105,999	26,338
Issuance of or advances on notes receivable	(59,000)	(3,608)	(3,002)
Proceeds from notes receivable		15,250	26,000
Return of deposits for properties under contract	187	2,870	1,692
Payment of deferred leasing costs	(7,979)	(7,051)	(6,106)
Change in control of previously unconsolidated affiliate	950		573
Net cash used in investing activities	(96,208)	(397,057)	(136,619)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes	(55,449)	(168,211)	(81,726)
Principal payments on unsecured debt	(136,490)	(521,600)	(632,300)
Proceeds received on mortgage and other notes	7,261	326,268	187,173
Proceeds from unsecured debt	236,804	526,400	648,800
Payments of finance lease obligations	(903)	(2,749)
(Repurchase) proceeds from the sale of Common Shares	(22,386)	145,498	(55,111)
Capital contributions from noncontrolling interests	52,674	161,628	47,560
Distributions to noncontrolling interests	(31,461)	(101,370)	(31,568)
Dividends paid to Common Shareholders	(50,182)	(93,902)	(88,887)
Deferred financing and other costs	(2,311)	(6,920)	(4,219)
Net cash (used in) provided by financing activities	(2,443)	265,042	(10,278)
Increase (decrease) in cash and restricted cash	3,914	(4,838)	(50,821)
Cash of $15,845, $21,268 and $74,823 and restricted cash of $14,165, $13,580 and $10,846, respectively, beginning of year	30,010	34,848	85,669
Cash of $19,232, $15,845 and $21,268 and restricted cash of $14,692, $14,165 and $13,580, respectively, end of year	33,924	30,010	34,848
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $7,110 and $12,586 and $5,625 respectively	72,392	53,586	61,832
Cash (received) paid for income taxes, net of refunds	(329)	730	1,227
Supplemental disclosure of non-cash investing and financing activities
Assumption of accounts payable and accrued expenses through acquisition of real estate	116	4,666	2,597
Notes receivable exchanged for real estate	72,430	13,530	22,201
Adjustment to equity as a result of the CECL implementation	400
Distribution declared and payable on January 15, 2020		26,914
Right-of-use assets, finance leases (modified) obtained in exchange for finance lease liabilities	(70,427)	16,349
Right-of-use assets, finance leases obtained in exchange for assets under capital lease		76,965
Right-of-use assets, operating leases obtained in exchange for operating lease liabilities	33,189	57,165
Capital lease obligation exchanged for finance lease liability		71,111
Other liabilities exchanged for operating lease liabilities		946
Assumption of debt through investments in unconsolidated affiliates		4,688
Debt exchanged for deferred gain on tax credits		(5,262)
Other assets exchanged for deferred gain on tax credits		228
Right of use assets, operating leases modified in exchange for finance lease liabilities	(1,432)
Change in control of previously unconsolidated (consolidated) investment
Increase in real estate	(135,190)	828	(31,836)
Decrease in investments in and advances to unconsolidated affiliates	96,816	(1,189)	35,881
Change in other assets and liabilities	1,238	12	(3,472)
Acquisition of noncontrolling interest asset	(588)
Decrease in notes receivable	38,674
Decrease in right-of-use assets, finance leases		11,051
Decrease in finance lease liability		$ (10,702)
Increase in cash and restricted cash upon change of control	$ 950		$ 573

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Cash Flows [Abstract]
Cash and cash equivalents	$ 19,232	$ 15,845	$ 21,268
Restricted cash	14,692	14,165	13,580
Cash paid for capitalized interest	$ 7,110	$ 12,586	$ 5,625

Organization, Basis of Presenta

Organization, Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization, Basis of Presentation and Summary of Significant Accounting Policies	1. Organization, Basis of Presentation and Summary of Significant Accounting Policies Organization Acadia Realty Trust, a Maryland real estate investment trust (collectively with its subsidiaries, the “Company”) is a fully-integrated equity real estate investment trust (“REIT”) focused on the ownership, acquisition, development, and management of retail properties located primarily in high-barrier-to-entry, supply-constrained, densely-populated metropolitan areas in the United States. All of the Company’s assets are held by, and all of its operations are conducted through, Acadia Realty Limited Partnership (the “Operating Partnership”) and entities in which the Operating Partnership owns an interest. As of December 31, 2020 and 2019, 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, par value $0.001 per share of the Company (“Common Shares”). This structure is referred to as an umbrella partnership REIT or “UPREIT.” As of December 31, 2020, the Company has ownership interests in 131 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 56 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 187 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, 2020 (b) Unfunded Commitment (b, c) Equity Interest Held By Operating Partnership (a) Preferred Return Total Distributions as of December 31, 2020 (b, c) Fund II and Mervyns II (c) 6/2004 28.33 % $ 369.6 $ 15.7 28.33 % 8 % $ 169.8 Fund III 5/2007 24.54 % 448.1 1.9 24.54 % 6 % 568.8 Fund IV 5/2012 23.12 % 469.5 60.5 23.12 % 6 % 193.1 Fund V 8/2016 20.10 % 217.1 302.9 20.10 % 6 % 24.6 (a) Amount represents the current economic ownership at December 31, 2020, 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 , which amount was re-contribut ed to Fund II in April 202 0 . During June 2020, a distribution was made by Mervyn’s II to its investors which was re-contributed to Fund II in the amount of $ 7.5 million. During August 2020, a recallable distribution of $ 15.7 million was made by Mervyn’s II to its investors, of which $ 4.5 million was the Company’s share . COVID-19 Pandemic Impacts Beginning in March 2020, the COVID-19 Pandemic has adversely affected economic activity and significantly decreased consumer activity, both on a global and domestic level. The COVID-19 Pandemic and government responses created disruption in global supply chains and adversely impacting many industries, including the domestic retail sectors in which the Company’s tenants operate. The COVID-19 Pandemic could continue to have a material adverse impact on economic and market conditions and trigger a period of global economic slowdown. Under governmental restrictions and guidance, certain retailers were considered “essential businesses” and were permitted to remain fully operating during the COVID-19 Pandemic, while other “non-essential businesses” were ordered to decrease or close operations for an indeterminate period of time to protect their employees and customers from the spread of the virus. These disruptions, which continue to a lesser extent as of the date of this Report, have impacted the collectability of rent from the Company’s affected tenants. The Company cannot estimate with reasonable certainty which currently operating tenants will remain open or if and when non-operating retailers will re-open for business as the COVID-19 Pandemic progresses. While the Company considers disruptions related to the COVID-19 Pandemic to be temporary, if the disruptions are protracted or escalate, they may have a material, adverse effect on the Company’s revenues, results of operations, financial condition, and liquidity in future periods. Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated annualized base rents (“ABR”) derived from stores which were open or partially open for business as of the dates indicated: Percentage of Tenants Open for Business as of June 30, 2020 September 30, 2020 December 31 , 2020 Core 74 % 86 % 88 % Fund 74 % 88 % 82 % Rent Collections – The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown: Collections as of: September 30, 2020 for December 31, 2020 for Second Quarter 2020 Third Quarter 2020 Second Quarter 2020 Third Quarter 2020 Fourth Quarter 2020 Core 74 % 85 % 76 % 87 % 91 % Fund 65 % 77 % 67 % 79 % 82 % Earnings Impact – During the year ended December 31, 2020 , the Company assessed its reserves for collection losses with respect to its billed receivables and straight-line rents receivable which were negatively impacted by the COVID-19 Pandemic. The Company also entered into agreements with selected tenants for rent forgiveness related to the COVID-19 Pandemic which were recorded in the period the rent was forgiven. In addition, the Company determined that several properties were impaired at December 31, 2020 and March 31, 2020 ( Note 8 ). These collection losses, and rent abatements were recorded as a reduction of rental income in the consolidated statements of operations. The rental income reductions and impairment charges impacted net earnings and segment performance as follows: Year Ended December 31, 2020 Consolidated Non-Controlling Interests Unconsolidated Attributable to Acadia Credit Loss - Billed Rents Core $ 12,870 $ (37 ) $ 1,564 $ 14,397 Funds 11,901 (9,969 ) 1,017 2,949 Total 24,771 (10,006 ) 2,581 17,346 Straight - Line Rent Reserves Core 8,413 (86 ) 509 8,836 Funds 13,660 (11,184 ) 1,263 3,739 Total 22,073 (11,270 ) 1,772 12,575 Rent Abatements Core 1,616 — 868 2,484 Funds 419 (381 ) 56 94 Total 2,035 (381 ) 924 2,578 Impairment charges Core 419 — — 419 Funds 85,179 (65,004 ) — 20,175 Total 85,598 (65,004 ) — 20,594 COVID Earnings Impact Core 23,318 (123 ) 2,941 26,136 Funds 111,159 (86,538 ) 2,336 26,957 Total $ 134,477 $ (86,661 ) $ 5,277 $ 53,093 Other Impacts • Rent Concession Agreements – During the year ended December 31, 2020, the Company executed 288 rent concession arrangements with tenants including 226 agreements for rent deferral, 60 agreements for rent abatements and two modification. Of these deferral agreements, 217 were accounted for as if no changes to the contract were made and therefore there were no changes to the current or future recognition of revenue and $10.7 million of deferred receivables, excluding allowance for doubtful accounts of $2.4 million, are included in Rents receivable in the consolidated balance sheet at December 31, 2020. The impact of the rent abatements is depicted in the table above. • Occupancy (Unaudited) – At December 31, 2020, the Company’s pro rata Core and Fund leased occupancy rates were 90.9% and 88.3%, respectively, compared to 91.1% and 89.8%, respectively, at September 30, 2020 reflecting primarily non-renewals and terminations due to the COVID-19 Pandemic. • Bankruptcy Risk – Through December 31, 2020 there have been numerous bankruptcies of national retailers, some of which are tenants of the Company. Of these bankruptcies, the Core Portfolio has four operating stores, with ABR attributable to Acadia totaling $1.2 million, or 0.9% of Core ABR, and the Fund Portfolio has six operating stores, with ABR attributable to Acadia totaling $0.1 million, or 0.7% of Fund ABR, for which it is possible that these leases may be rejected in the future. During the fourth quarter of 2020, five Core Portfolio and 11 Fund tenants emerged from bankruptcy and resumed their leases with Acadia. • On March 27, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security (CARES) Act.” The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. It also appropriated funds for the SBA Paycheck Protection Program loans that are forgivable in certain situations to promote continued employment, as well as Economic Injury Disaster Loans to provide liquidity to small businesses harmed by the COVID-19 Pandemic. The Company did not borrow any funds under the SBA Paycheck Protection Program and CARES Act did not have a material effect on the Company, its financial condition, results of operations, or liquidity for 2020. See Note 16 for updates to some of these results through January 31, 2021. Basis of Presentation Segments At December 31, 2020, 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 (loss) 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 right-of-use assets – operating leases, lease liabilities – operating leases 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 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, 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, real estate under development and right-of-use assets for impairment when there is an event or a change in circumstances that indicates that the carrying amount may not be recoverable. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value. The determination of anticipated undiscounted cash flows is inherently subjective, requiring significant estimates made by management, and considers the most likely expected course of action at the balance sheet date based on current plans, intended holding periods and available market information. If the Company is evaluating the potential sale of an asset, the undiscounted future cash flows analysis is probability-weighted based upon management’s best estimate of the likelihood of the alternative courses of action as of the balance sheet date. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. If an impairment is indicated, an impairment loss is recognized based on the excess of the carrying amount of the asset over its estimated fair value. See Note 8 for information about impairment charges recorded 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. Real Estate Held for Sale – The Company generally considers assets to be held for sale when it has entered into a contract to sell the property, all material due diligence requirements have been satisfied, and management believes it is probable that the disposition will occur within one year. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost to sell. Notes Receivable Notes receivable include certain loans that are held for investment and are collateralized by real estate-related investments and may be subordinate to other senior loans. Notes receivable are reported net of allowance for credit loss and are recorded at stated principal amounts or at initial investment less accretive yield for loans purchased at a discount, which is accreted over the life of the note. The Company defers loan origination and commitment fees, net of origination costs, and amortizes them over the term of the related loan. The Company evaluates the collectability of both principal and interest based upon an assessment of the underlying collateral value to determine whether it is impaired. Allowance for credit loss represents management’s estimate of future losses based on national historical economic loss rates for similar obligations, management’s estimate of future economic impacts and factors specific to the borrower. Certain of the Company’s loans are considered “collateral dependent” in that settlement of the amount is likely to be achieved by obtaining access to the collateral (e.g. notes in default). The same valuation techniques are used to value the collateral for such collateral dependent instruments as those used to determine the fair value of real estate investments for impairment purposes. Given the small number of notes outstanding, the Company believes the characteristics of its notes are not sufficiently similar to allow an evaluation as a group for credit loss allowance. As such, all of the Company’s notes are evaluated individually for this purpose. Interest income on performing notes is accrued as earned. A note is placed on non-accrual status when, based upon current information and events, it is probable that the Company will not be able to collect all amounts due according to the existing contractual terms. Income accrual is generally suspended for loans when recovery of income and principal becomes doubtful. Interest received is then recorded as a reduction in the outstanding principal balance until the accrual is resumed when it is probable that the Company will be able to collect amounts due according to the contractual terms of the notes. Investments in and Advances to Unconsolidated Joint Ventures Some of the Company’s joint ventures obtain non-recourse third-party financing on their property investments, contractually limiting the Company’s exposure to losses. The Company recognizes income for distributions in excess of its investment where there is no recourse to the Company and no intention or obligation to contribute additional capital. For investments in which there is recourse to the Company or an obligation or intention to contribute additional capital exists, distributions in excess of the investment are recorded as a liability. When characterizing distributions from equity investees within the Company's consolidated statements of cash flows, all distributions received are first applied as returns on investment to the extent there are cumulative earnings related to the respective investment and are classified as cash inflows from operating activities. If cumulative distributions are in excess of cumulative earnings, distributions are considered return of investment. In such cases, the distribution is classified as cash inflows from investing activities. To the extent that the Company’s carrying basis in an unconsolidated affiliate is different from the basis reflected at the joint venture level, the basis difference is amortized over the life of the related assets and included in the Company’s share of equity in (loss) earnings of unconsolidated affiliates the joint venture. The Company periodically reviews its investments in unconsolidated joint ventures for other-than-temporary losses in investment value. Any decline that is not expected to be recovered based on the underlying assets of the investment, is considered other than temporary and an impairment charge is recorded as a reduction in the carrying value of the investment. During the periods presented there were no impairment charges related to the Company’s investments in unconsolidated joint ventures. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the limits insured by the Federal Deposit Insurance Corporation. Restricted Cash Restricted cash consists principally of cash held for real estate taxes, construction costs, property maintenance, insurance, minimum occupancy and property operating income requirements at specific properties as required by certain loan agreements. Deferred Costs External fees and costs paid in the successful negotiation of leases are deferred and amortized on a straight-line basis over the terms of the respective leases. External fees and costs incurred in connection with obtaining financing are deferred and amortized as a component of interest expense over the term of the related debt obligation on a straight-line basis, which approximates the effective interest method. 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 operations . Noncontrolling interests also include amounts related to common and preferred OP Units issued to unrelated third parties in connection with certain property acquisitions. In addition, the Company periodically issues common OP Units and LTIPs to certain employees of the Company under its share-based incentive program. Unit holders generally have the right to redeem their units for Common Shares subject to blackout and other limitations. Common and restricted OP Units are included in the caption Noncontrolling interest within the equity section on the Company’s consolidated balance sheets. Revenue Recognition and Accounts Receivable 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, 2020 and 2019, unbilled rents receivable relating to the straight-lining of rents of $41.4 million and $48.4 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. The Company applies 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, 2020 and 2019 are shown net of an allowance for doubtful accounts of $45.4 million and $11.4 million, respectively. Rental income for the years ended and 2018 are reported net of adjustments of $46.8 million, $4.4 million and $2.5 million respectively, to allowance for doubtful accounts reflecting additional reserves, net of write-offs and recoveries, during 2020 due to the impact of the COVID-19 Pandemic ( Note 1 ). Stock-Based Compensation Stock-based compensation expense for all equity-classified stock-based compensation awards is based on the grant date fair value estimated in accordance with current accounting guidance for share-based payments. The Company recognizes these compensation costs for only those shares or units expected to vest on a straight-line or graded-vesting basis, as appropriate, over the requisite service period of the award. The Company includes stock-based compensation within general and administrative expense on the consolidated statements of operations. Income Taxes The Company has made an election to be taxed, and believes it qualifies, as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”). To maintain REIT status for Federal income tax purposes, the Company is generally required to distribute at least 90% of its REIT taxable income to its shareholders as well as comply with certain other income, asset and organizational requirements as defined in the Code. Accordingly, the Company is generally not subject to Federal corporate income tax to the extent that it distributes 100% of its REIT taxable income each year. 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 Tax Cut and Jobs 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 federal income tax purposes, the Company is subject to state or local income or franchise taxes in certain jurisdictions in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s Taxable REIT Sub

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 Land $ 776,275 $ 756,297 Buildings and improvements 2,848,781 2,740,479 Tenant improvements 191,046 173,686 Construction in progress 5,751 13,617 Right-of-use assets - finance leases (Note 11) 25,086 102,055 Total 3,846,939 3,786,134 Less: Accumulated depreciation and amortization (586,800 ) (490,227 ) Operating real estate, net 3,260,139 3,295,907 Real estate under development 247,349 253,402 Net investments in real estate $ 3,507,488 $ 3,549,309 Acquisitions and Conversions During the years ended December 31, 2020 and 2019, the Company acquired the following consolidated retail properties and other real estate investments (dollars in thousands): Property and Location Percent Acquired Date of Acquisition Purchase Price 2020 Acquisitions and Conversions Core Soho Acquisitions - 37 Greene Street - New York, NY 100% Jan 9, 2020 $ 15,689 917 W. Armitage - Chicago, IL 100% Feb 13, 2020 3,515 Town Center - Wilmington, DE (Conversion) (Note 4) 100% Apr 1, 2020 138,939 Subtotal Core 158,143 Fund IV 230-240 W. Broughton Street - Savannah, GA 100% May 26, 2020 13,219 102 E. Broughton Street - Savannah, GA 100% May 26, 2020 790 Subtotal Fund IV 14,009 Total 2020 Acquisitions and Conversions $ 172,152 2019 Acquisitions Core Soho Acquisitions - 41, 45, 47, 51 and 53 Greene Street - New York, NY 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 For the years ended December 31, 2020 and 2019, the Company capitalized acquisition costs of $1.3 million and $2.6 million, respectively. No debt was assumed in any of the 2020 Acquisitions and Conversions or 2019 Acquisitions. Conversions represent notes receivable that were converted to an interest in the underlying collateral in a non-cash transaction. Purchase Price Allocations The purchase prices for the 2020 Acquisitions and Conversions and 2019 Acquisitions 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, 2020 and 2019 (in thousands): Year Ended December 31, 2020 Year Ended December 31, 2019 Net Assets Acquired Land $ 25,440 $ 78,263 Buildings and improvements 123,459 221,185 Accounts receivable, prepaids and other assets 5,770 — Acquisition-related intangible assets ( Note 6 ) 23,061 34,972 Right-of-use asset - Operating lease (Note 11) 234 — Acquisition-related intangible liabilities ( Note 6 ) (4,569 ) (10,081 ) Lease liability - Operating lease (Note 11) (234 ) — Accounts payable and other liabilities (1,009 ) — Net assets acquired $ 172,152 $ 324,339 Consideration Cash $ 21,208 $ 319,673 Conversion of note receivable 38,674 — Conversion of accrued interest 1,995 — Liabilities assumed 116 4,666 Existing interest in previously unconsolidated investment 109,571 — Acquisition of noncontrolling interests 588 — Total consideration $ 172,152 $ 324,339 Dispositions During the years ended December 31, 2020 and 2019, the Company disposed of the following consolidated properties and other real estate investments (in thousands): Property and Location Owner Date Sold Sale Price Gain (Loss) on Sale 2020 Dispositions 163 Highland Ave. (Easement) - Needham, MA Core Mar 19, 2020 $ 238 $ 88 Colonie Plaza - Albany, NY Fund IV Apr 13, 2020 15,250 485 Airport Mall (Parcel) - Bangor, ME Fund IV Sep 10, 2020 400 24 Cortlandt Crossing (Sewer Project and Retention Pond) - Cortlandt, NY Fund III Nov 30, 2020 6,325 — Union Township (Parcel) - New Castle, PA Core Dec 11, 2020 200 86 Total 2020 Dispositions $ 22,413 $ 683 2019 Dispositions 3104 M Street - Washington, DC (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 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, 2020, 2019 and 2018 were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Revenues $ 724 $ 9,786 $ 14,010 Expenses (1,018 ) (8,561 ) (11,946 ) Gain on disposition of properties 683 30,324 5,140 Net income attributable to noncontrolling interests (127 ) (10,770 ) (5,131 ) Net income attributable to Acadia $ 262 $ 20,779 $ 2,073 Real Estate Under Development and Construction in Progress Real estate under development represents the Company’s consolidated properties that have not yet been placed into service while undergoing substantial development or construction. Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands): January 1, 2020 Year Ended December 31, 2020 December 31, 2020 Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core — $ 60,863 $ — $ 3,012 $ — — $ 63,875 Fund II (a) — 10,703 66,812 3,612 6,470 — 74,657 Fund III 1 36,240 — 70 13,171 1 23,139 Fund IV (b) 2 145,596 — 1,368 61,286 2 85,678 Total 3 $ 253,402 $ 66,812 $ 8,062 $ 80,927 3 $ 247,349 (a) Transfers in include $33.8 million of non-cash Fund II additions obtained through the conversion of a note receivable ( Note 3 ). (b) Transfers out include impairment charges totaling $16.5 million on two Fund IV development properties ( Note 8 ). January 1, 2019 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 tables above refers to projects comprising the entire property under development; however, certain projects represent a portion of a property. Fund II amounts relate to the City Point Phase III project and a portion of Phase II. During the year ended December 31, 2020, the Company: • placed a portion of one Fund III property, Cortlandt Crossing, into service • converted, in a non-cash transaction, a note receivable in exchange for construction improvements in the amount of $33.8 million ( Note 3 ) • recognized impairment charges totaling $16.5 million on two Fund IV properties ( Note 8 ) including 717 N. Michigan Avenue and 110 University Place • placed a portion of one Fund IV property, 146 Geary Street, into service, which was subsequently impaired ( Note 8 ) • placed a portion of Fund II’s City Point Phase II into development • suspended certain development projects due to aforementioned disruptions related to the COVID-19 Pandemic. Substantially all remaining development and redevelopment costs are discretionary and dependent upon the resumption of tenant interest. During the year ended December 31, 2019, the Company placed 1238 Wisconsin, an unconsolidated Core Portfolio property ( Note 4 ) and • a portion of City Center (Core) • a portion of Cortlandt Crossing (Fund III) • a portion of 110 University Place (Fund IV, Note 11 ); and • its 146 Geary Street property (Fund IV) During the year ended December 31, 2019, the Company placed one Core Portfolio development project, 56 E. Walton, into service. 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, 2020
Accounts And Notes Receivable Net [Abstract]
Notes Receivable, Net	3. Notes Receivable, Net The Company’s notes receivable, net are generally collateralized either by the underlying properties or the borrowers’ ownership interests in the entities that own the properties, and were as follows (dollars in thousands): December 31, December 31, December 31, 2020 Description 2020 2019 Number Maturity Date Interest Rate Core Portfolio (a) $ 96,794 $ 76,467 6 Apr 2020 - Dec 2027 2.81% - 9.00% Fund II — 33,170 — Dec 2020 1.75% Fund III 5,306 5,306 1 Jul 2020 18.00% Total notes receivable 102,100 114,943 Allowance for credit loss (650 ) — Notes receivable, net $ 101,450 $ 114,943 7 (a) Includes two notes receivable from OP Unit holders, with balances totaling $6.5 million at December 31, 2020 and 2019. During the year ended December 31, 2020, the Company: • exchanged its Brandywine Note Receivable of $38.7 million plus accrued interest of $2.0 million for the remaining 24.78% undivided interest in Town Center on April 1, 2020 ( Note 4 ); • recorded credit loss reserves of $0.4 million upon the adoption of ASC 326 ( Note 1 ); • converted $33.8 million balance of a Fund II note receivable for interest in real estate on November 2, 2020 ( Note 2 ). Prior to the exchange, the note had been increased by the interest accrued during 2020 of $0.6 million; • made a Core loan for $54.0 million with an interest rate of 9% structured as a redeemable preferred equity investment in a property at 850 Third Avenue in Brooklyn, New York on January 14, 2020; • issued a new Core Portfolio note for $5.0 million with an interest rate of 8% collateralized by our partner’s 50% share of the LUF Portfolio ( Note 4 ) in Washington, D.C. effective February 1, 2020; and • recorded additional credit loss reserves of $0.3 million related to new transactions and recent market volatility. One Core Portfolio note aggregating $21.6 million including accrued interest (exclusive of default interest and other amounts due on the loan that have not been recognized) was in default at December 31, 2020 . 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 Portfolio 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; 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 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 16 for information about investments subsequent to December 31, 2020. The Company’s estimated reserve for credit losses related to its Structured Financing segment has been computed for its amortized cost basis in the portfolio, including accrued interest ( Note 5 ,

Investments in and Advances to

Investments in and Advances to Unconsolidated Affiliates	12 Months Ended
	Dec. 31, 2020
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, 2020 2020 2019 Core: 840 N. Michigan (a) 88.43% $ 55,863 $ 61,260 Renaissance Portfolio 20% 29,270 31,815 Gotham Plaza 49% 28,683 29,466 Town Center (a, b) 100% — 97,674 Georgetown Portfolio 50% 4,624 4,498 1238 Wisconsin Avenue 80% 2,571 1,194 121,011 225,907 Mervyns I & II: KLA/ABS (c) 36.7% 72,391 402 Fund III: Fund III Other Portfolio 94.23% — 17 Self Storage Management (d) 95% 207 207 207 224 Fund IV: Broughton Street Portfolio (e) 100% — 12,702 Fund IV Other Portfolio 98.57% 11,719 14,733 650 Bald Hill Road 90% 12,550 12,450 24,269 39,885 Fund V: Family Center at Riverdale (a) 89.42% 11,824 13,329 Tri-City Plaza (h) 90% 7,024 10,250 Frederick County Acquisitions 90% 10,837 15,070 29,685 38,649 Various: Due from (to) Related Parties 363 (1,902 ) Other (f) 1,881 1,932 Investments in and advances to unconsolidated affiliates $ 249,807 $ 305,097 Core: Crossroads (g) 49% $ 15,616 $ 15,362 Distributions in excess of income from, and investments in, unconsolidated affiliates $ 15,616 $ 15,362 (a) Represents a tenancy-in-common interest. (b) During November 2017, March 2018 and April 2020, as discussed below, the Company gradually increased its ownership to 100% and consolidated Town Center. (c) Includes an interest in Albertsons (at fair value at December 31, 2020 and at cost at December 31, 2019, as described below ( Note 8 (d) Represents a variable interest entity for which the Company was determined not to be the primary beneficiary. (e) During May 2020, as discussed below, the Company increased its ownership in Broughton Street Portfolio to 100% and consolidated the underlying properties. (f) Includes cost-method investments in, Storage Post, Fifth Wall 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 Acquisition 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 another $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, and the Company has virtually no influence over the partnership’s operating and financial policies. During the fourth quarter of 2020, the Company impaired $0.4 million for this investment ( Note 8 ) reflecting management’s estimate of fair value at that date. At December 31, 2020, 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 Note 7 ) and which is consolidated by the Company. Additionally, in April 2016, the Company repaid the outstanding balance of $140.0 million of non-recourse debt collateralized by the Brandywine Portfolio and provided a note receivable collateralized by the partners’ tenancy-in-common interest in the Brandywine Portfolio for their proportionate share of the repayment. On May 1, 2017, the Company exchanged $16.0 million of the $153.4 million notes receivable (the “Brandywine Notes Receivable”) ( Note 3 ) 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. 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 continued to apply the equity method of accounting for its aggregate 75.22% noncontrolling interest in Town Center after the March 2018 transaction. On April 1, 2020, the Company exchanged the remaining $38.7 million of Brandywine Notes Receivable ( Note 3 ), plus accrued interest of $2.0 million for the remaining 24.78% interest in Town Center, thereby obtaining a 100% controlling interest in the property. The property was then consolidated ( Note 2 ) and the Company recorded the remaining interest in the property investment at the carrying value of the notes. Fund Investments Acquisitions of Unconsolidated Investments On March 19, 2019, Fund V obtained an 99.35% interest in a joint venture which in turn obtained a 90% undivided interest 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. Broughton Street Portfolio During 2014, Fund IV acquired 50% interests in two joint ventures referred to as “BSP I” and “BSP II” with the same venture partner to acquire and operate a total of 23 properties in Savannah, Georgia referred to as the “Broughton Street Portfolio.” Since that time, as described below, the ventures have sold eight of the properties and terminated the master leases on two of the properties. In October 2018, the venture partner relinquished its interest in BSP I, resulting in Fund IV becoming the 100% owner of the BSP I venture, which holds 11 consolidated properties ( Note 2 ) On May 26, 2020, pursuant to the buy-sell provisions of the operating agreement of the Broughton Street Portfolio, Fund IV acquired all of the third-party equity of BSP II, which underlies two properties within Broughton Street Portfolio, for $1.3 million in a non-monetary exchange. These two BSP II properties were consolidated during the second quarter of 2020. Storage Post On June 29, 2019, Fund III’s Storage Post venture, which is a cost method investment with no carrying value distributed $1.6 million, of which the Operating Partnership’s share was $0.4 million. Albertsons During 2006, as part of a series of investments with a consortium of other investors known as the “RCP Venture”, Mervyns II acquired an indirect interest in Albertsons Companies, Inc., a private chain of grocery stores (“Albertsons”) through two 36.67% owned entities (KLA A Investments, LLC and ABS Opportunities, LLC, “KLA/ABS”). Its investment (the “Investment in Albertsons”) has been accounted for under the cost method as Mervyns II has no influence over operating and financial policies of KLA/ABS. Subsequent to the initial investment in 2006, Mervyns II received distributions from its Investment in Albertsons in excess of its initial contribution, which has been recognized in earnings. During the second and fourth quarters of 2020, Mervyns II realized gains of approximately $22.8 million and $0.4 million, respectively, from its Investment in Albertsons. The realized gains during the second quarter of 2020 resulted from the issuance and distribution of proceeds from a preferred equity investment and a sale of a portion of its investment in an initial public offering of Albertsons, both of which occurred in June 2020. Following these transactions, Mervyns II has retained an effective indirect ownership of approximately 4.1 million shares (approximately 1% interest) through its Investment in Albertsons, which it has accounted for at fair value following the initial public offering given the readily determinable fair value, resulting in an unrealized gain of approximately $64.9 million. During the year ended December 31, 2020, the Company recorded an additional net unrealized holding gain of $7.5 million reflecting the change in fair value of its Investment in Albertsons. The Company has reflected both the realized and net unrealized gain or loss as Realized and unrealized holding gains on investments and other within its consolidated statements of operations for the year ended December 31, 2020. The Company has an effective ownership interest of 28.33% in Mervyns II. Fees from Unconsolidated Affiliates The Company earned property management, construction, development, legal and leasing fees from its investments in unconsolidated partnerships totaling $0.4 million, $0.3 million and $0.5 million for the years ended December 31, 2020, 2019 and 2018, respectively, which is included in other revenues in the consolidated statements of operations. In addition, the Company paid to certain unaffiliated partners of its joint ventures, $2.1 million and $1.3 million and $1.7 million for the years ended December 31, 2020, 2019 and 2018, respectively, for leasing commissions, development, management, construction and overhead fees. Summarized Financial Information of Unconsolidated Affiliates The following combined and condensed Balance Sheets and Statements of Operations, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates (in thousands): December 31, 2020 December 31, 2019 Combined and Condensed Balance Sheets Assets: Rental property, net $ 563,997 $ 656,265 Real estate under development 14,517 1,341 Other assets 61,969 85,540 Total assets $ 640,483 $ 743,146 Liabilities and partners’ equity: Mortgage notes payable $ 512,490 $ 502,036 Other liabilities 74,872 77,785 Partners’ equity 53,121 163,325 Total liabilities and partners’ equity $ 640,483 $ 743,146 Company's share of accumulated equity $ 100,767 $ 186,864 Basis differential 55,017 100,962 Deferred fees, net of portion related to the Company's interest 3,565 1,270 Amounts receivable/payable by the Company 363 (1,902 ) Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates 159,712 287,194 Cost method investments 74,479 2,541 Company's share of distributions in excess of income from and investments in unconsolidated affiliates 15,616 15,362 Investments in and advances to unconsolidated affiliates $ 249,807 $ 305,097 Year Ended December 31, 2020 2019 2018 Combined and Condensed Statements of Operations Total revenues $ 73,478 $ 88,893 $ 79,555 Operating and other expenses (26,389 ) (24,932 ) (22,957 ) Interest expense (20,172 ) (21,874 ) (19,954 ) Depreciation and amortization (28,102 ) (25,358 ) (22,228 ) Loss on disposition of properties — — (1,673 ) Net (loss) income attributable to unconsolidated affiliates $ (1,185 ) $ 16,729 $ 12,743 Company’s share of equity in net (loss) income of unconsolidated affiliates $ 965 $ 11,772 $ 12,345 Basis differential amortization (2,202 ) (2,850 ) (3,043 ) Company’s equity in (losses) earnings of unconsolidated affiliates $ (1,237 ) $ 8,922 $ 9,302

Other Assets, Net and Accounts

Other Assets, Net and Accounts Payable and Other Liabilities	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 Other Assets, Net: Lease intangibles, net ( Note 6 ) $ 100,732 $ 116,820 Deferred charges, net (a) 30,488 28,746 Prepaid expenses 17,468 18,873 Accrued interest receivable 13,917 9,872 Due from seller 3,682 3,682 Income taxes receivable 2,433 1,755 Other receivables 2,058 3,996 Deposits 1,728 1,853 Corporate assets, net 1,302 1,565 Derivative financial instruments ( Note 8 ) 1 2,583 Deferred tax assets — 913 $ 173,809 $ 190,658 (a) Deferred Charges, Net: Deferred leasing and other costs $ 57,533 $ 49,081 Deferred financing costs related to line of credit 11,341 10,051 68,874 59,132 Accumulated amortization (38,386 ) (30,386 ) Deferred charges, net $ 30,488 $ 28,746 Accounts Payable and Other Liabilities: Derivative financial instruments ( Note 8 ) $ 90,139 $ 39,061 Lease intangibles, net ( Note 6 ) 76,434 82,926 Accounts payable and accrued expenses 53,031 68,838 Deferred income 31,842 33,682 Tenant security deposits, escrow and other 12,178 12,590 Lease liability - finance leases, net ( Note 11 6,287 77,657 $ 269,911 $ 314,754

Lease Intangibles

Lease Intangibles	12 Months Ended
	Dec. 31, 2020
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 Accounts payable and other liabilities ( Note 5 ) on the consolidated balance sheet and summarized as follows (in thousands): December 31, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease intangible assets $ 268,335 $ (171,856 ) $ 96,479 $ 249,961 $ (137,108 ) $ 112,853 Above-market rent 19,188 (14,935 ) 4,253 17,227 (13,260 ) 3,967 $ 287,523 $ (186,791 ) $ 100,732 $ 267,188 $ (150,368 ) $ 116,820 Amortizable Intangible Liabilities Below-market rent $ (164,923 ) $ 88,951 $ (75,972 ) $ (160,721 ) $ 78,315 $ (82,406 ) Above-market ground lease (671 ) 209 (462 ) (671 ) 151 (520 ) $ (165,594 ) $ 89,160 $ (76,434 ) $ (161,392 ) $ 78,466 $ (82,926 ) During the year ended December 31, 2020, the Company acquired in-place lease intangible assets of $21.0 million, above-market rents of $2.0 million, and below-market rents of $4.6 million with weighted-average useful lives of 4.9, 5.8, and 20.2 years, respectively. 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. Amortization of in-place lease intangible assets is recorded in depreciation and amortization expense and amortization of above-market rent and below-market rent is recorded as a reduction to and increase to rental income, respectively, in the consolidated statements of operations. Amortization of above-market ground leases are recorded as a reduction to rent expense in the consolidated statements of operations. The scheduled amortization of acquired lease intangible assets and assumed liabilities as of December 31, 2020 is as follows (in thousands): Years Ending December 31, Net Increase in Lease Revenues Increase to Amortization Reduction of Rent Expense Net (Expense) Income 2021 $ 6,920 $ (24,599 ) $ 58 $ (17,621 ) 2022 6,251 (18,089 ) 58 (11,780 ) 2023 5,784 (13,428 ) 58 (7,586 ) 2024 5,433 (9,486 ) 58 (3,995 ) 2025 4,767 (8,376 ) 58 (3,551 ) Thereafter 42,564 (22,501 ) 172 20,235 Total $ 71,719 $ (96,479 ) $ 462 $ (24,298 )

Debt

Debt	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 December 31, 2020 2020 2019 Mortgages Payable Core Fixed Rate 3.88%-5.89% 3.88%-6.00% Feb 2024 - Apr 2035 $ 147,810 $ 176,176 Core Variable Rate - Swapped (a) 3.41%-4.54% 3.41%-4.54% Jan 2023 - Nov 2028 80,500 81,559 Total Core Mortgages Payable 228,310 257,735 Fund II Fixed Rate — 4.75% — 200,000 Fund II Variable Rate LIBOR+3.00% - PRIME+2.00% LIBOR+3.00% Mar 2022 - May 2022 228,282 24,225 Fund II Variable Rate - Swapped (a) 2.88% 2.88% Nov 2021 18,803 19,073 Total Fund II Mortgages Payable 247,085 243,298 Fund III Variable Rate LIBOR+2.75%-LIBOR+3.10% LIBOR+2.75%-LIBOR+3.10% Jun 2021 - Jul 2022 71,918 74,554 Fund IV Fixed Rate 3.40%-4.50% 3.40%-4.50% Oct 2025 - Jun 2026 6,726 8,189 Fund IV Variable Rate LIBOR+1.60%-LIBOR+3.40% LIBOR+1.60%-LIBOR+3.40% Feb 2021 - Oct 2025 175,009 157,015 Fund IV Variable Rate - Swapped (a) 3.48%-4.61% 3.48%-4.61% Apr 2022 - Dec 2022 66,590 102,699 Total Fund IV Mortgages Payable 248,325 267,903 Fund V Variable Rate LIBOR+1.50%-LIBOR+2.20% LIBOR+1.50%-LIBOR+2.20% Feb 2021 - Dec 2024 1,354 1,387 Fund V Variable Rate - Swapped (a) 2.95%-4.78% 2.95%-4.78% Feb 2021 - Dec 2024 334,323 334,626 Total Fund V Mortgage Payable 335,677 336,013 Net unamortized debt issuance costs (6,507 ) (10,078 ) Unamortized premium 548 651 Total Mortgages Payable $ 1,125,356 $ 1,170,076 Unsecured Notes Payable Core Variable Rate Unsecured Term Loans LIBOR+2.55% — Jun 2021 $ 30,000 $ — Core Variable Rate Unsecured Term Loans - Swapped (a) 2.49%-5.02% 2.49%-5.02% Mar 2023 350,000 350,000 Total Core Unsecured Notes Payable 380,000 350,000 Fund II Unsecured Notes Payable LIBOR+1.65% LIBOR+1.65% Sep 2021 40,000 40,000 Fund IV Term Loan/Subscription Facility LIBOR+1.90%-LIBOR+2.00% LIBOR+1.65%-LIBOR+2.00% Jun 2021 - Dec 2021 80,089 87,625 Fund V Subscription Facility LIBOR+1.60% — May 2021 250 — Net unamortized debt issuance costs (256 ) (305 ) Total Unsecured Notes Payable $ 500,083 $ 477,320 Unsecured Line of Credit Core Unsecured Line of Credit -Swapped (a) 2.49%-5.02% 2.49%-5.02% Mar 2022 $ 138,400 $ 60,800 Total Debt - Fixed Rate (b, c ) $ 1,143,152 $ 1,403,324 Total Debt - Variable Rate (d) 626,902 314,604 Total Debt 1,770,054 1,717,928 Net unamortized debt issuance costs (6,763 ) (10,383 ) Unamortized premium 548 651 Total Indebtedness $ 1,763,839 $ 1,708,196 (a) At December 31, 2020, 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 $988.6 million and $948.8 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, 2020 and 2019 includes $3.2 million and $70.2 million, respectively of Core swaps that may be used to hedge debt instruments of the Funds. (d) Includes $139.2 million and $143.3 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 + 1.40% and a $350.0 million senior unsecured term loan (the “Term Loan”) which bears interest at LIBOR + 1.30%. 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. On December 17, 2020, the Company modified certain of its financial covenants on its Credit Facility, along with its $30.0 million Core Term Loan, which had no impact on its borrowing capacity. Mortgages Payable During the year ended December 31, 2020, the Company: • extended the maturity date of a $200.0 million Fund II loan from May 2020 to May 2022. In addition, the Company extended seven Fund mortgages, two of which were extended for one year during the first quarter with aggregate outstanding balances of $46.0 million at December 31, 2020, two of which was extended for one year during the second quarter with an aggregate outstanding balance of $51.3 million at December 31, 2020, one of which were extended for one year during the third quarter with aggregate outstanding balances of $40.0 million at December 31, 2020, and two of which were extended for a minimum of one year during the fourth quarter with aggregate outstanding balances of $88.0 million at December 31, 2020; • modified the terms of one Fund IV $23.8 million mortgage, which had $18.9 million outstanding, in June 2020 to adjust the allowable timing of draws. At closing, an additional $1.0 million was drawn and in July 2020 an additional $0.9 million was drawn. The Company also modified one Fund III and two Fund IV loans aggregating $103.4 million requiring the repayment of $11.5 million; • entered into two swap agreements in February 2020 each with notional values of $50.0 million, which are not effective until April 2022 and April 2023. In July 2020, two previously-executed forward swap agreements took effect with current notional values as of December 31, 2020 of $30.4 million each ( Note 8 ); • repaid one Core mortgage of $26.3 million in connection with the litigation settlement discussed below and one Fund IV mortgage of $11.6 million in connection with the sale of Colonie Plaza in April 2020 ( Note 2 ); and • made scheduled principal payments of $6.1 million. 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% which was 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%. At December 31, 2020 a Fund mortgage and a Fund IV term loan aggregating $115.2 million, or $27.1 million at the Company’s share, had not met their liquidity requirements. In addition, at that same date, three Fund mortgages aggregating $124.1 million, or $25.6 million at the Company’s share, had not met their debt yield and/or debt service coverage ratio requirements. Some of these lenders may require cash sweeps of property rents until these conditions are remedied. At December 31, 2020 and 2019, the Company’s mortgages were collateralized by 42 and 44 properties, respectively, and the related tenant leases. Certain loans are cross-collateralized and contain cross-default provisions. The loan agreements contain customary representations, covenants and events of default. Certain loan agreements require the Company to comply with affirmative and negative covenants, including the maintenance of debt service coverage and leverage ratios. The Company is not in default on any of its loan agreements, except as noted below. A portion of the Company’s variable-rate mortgage debt has been effectively fixed through certain cash flow hedge transactions ( Note 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. The loan was originated in June 2006 and had an original principal amount of $26.3 million and a scheduled maturity of July 1, 2016. By maturity, the loan was in default. The loan bore interest at a stated rate of approximately 6.00% and was subject to additional default interest of 5.00%. 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 Court of Chancery 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 also 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 alleged that the Operating Partnership was liable for the original principal, accrued interest, default interest, late charges as well as fees, costs and protective advances, under the Brandywine Loan, which the Successor Lender alleged totaled approximately $33.0 million as of November 9, 2017 (exclusive of accruing interest, default interest, late charges, and fees and costs). In August 2019, the Delaware Superior Court heard arguments on the parties’ cross-motions for summary judgment 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 had recourse liability under the Brandywine Loan and requesting the parties to contact the Court regarding a hearing of any additional outstanding issues. On June 24, 2020, the Successor Lender filed a motion to (i) amend the Note Complaint and Guaranty Complaint in order to increase the alleged balance under the Brandywine Loan to $46.8 million as of March 31, 2020, plus default interest of $0.3 million and additional attorneys’ fees of $0.2 million from April 1, 2020 to April 23, 2020, minus suspense funds of $1.5 million, and (ii) for entry of judgment in the foregoing amounts. Brandywine Holdings and the Operating Partnership opposed the motion. By Final Order and Judgment, entered July 27, 2020, the Delaware Superior Court denied the Successor Lender’s motion, and entered judgment against Brandywine Holdings and the Operating Partnership, jointly and severally, in the amount of $33.2 million, plus accruing interest and default interest in the total amount of $8,017 per diem from and after November 10, 2017 through the date of entry of judgment, less $1.3 million in “suspense funds” (consisting of unapplied property collections minus unapplied fees (including attorneys’ fees), costs, and protective advances made on Successor Lender’s behalf), together with post judgment interest, accruing after the entry of judgment, at the contract rate of interest agreed to by the parties. In connection with the Final Order and Judgment, during the three months ended June 30, 2020, the Company recorded an additional $6.8 million related primarily to legal and other costs of which the Company’s proportionate share was $1.5 million. Brandywine Holdings and the Operating Partnership filed a notice of appeal of the ruling by the Delaware Superior Court and the lender filed a notice of cross-appeal. On October 2, 2020, on request of all parties to the litigation, the appeal and cross-appeal were stayed by the Supreme Court of Delaware for a period of 90 days so that the parties could pursue settlement of the litigation. On October 30, 2020, the Company settled the litigation for approximately $30.0 million resulting in a gain on debt extinguishment of $18.3 million reflected in Realized and unrealized holding gains on investments and other in the consolidated statement of operations, of which the Company’s proportionate share was $4.1 million. Upon settlement of this litigation, the Company obtained its partner’s 78.22% noncontrolling interest for nominal consideration, resulting in a negative adjustment of $15.9 million to equity ( Note 10 ). 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 $128.7 million and $152.5 million at December 31, 2020 and 2019, respectively, are comprised of the following: • The outstanding balance of the Core term loan was $350.0 • On July 1, 2020, the Company obtained an additional $30.0 million Core term loan, with an accordion option to increase up to $90.0 million. This term loan matures on June 30, 2021 and bears interest at LIBOR plus 2.55% with a LIBOR floor of 0.75%. The outstanding balance and total availability at December 31, 2020 was $30.0 million and $0, respectively. • Fund II has a $40.0 million term loan secured by the real estate assets of City Point Phase II and guaranteed by the Company and the Operating Partnership. The outstanding balance of the Fund II term loan was $40.0 million at each of December 31, 2020 and 2019. Total availability was $0.0 at each of December 31, 2020 and 2019. • Fund IV has a $79.2 million bridge facility and a $5.0 million subscription line which was modified from the previous limit of $15.0 million during the fourth quarter of 2020. The bridge facility is guaranteed by the Operating partnership up to $50.8 million. The outstanding balance and total available credit of the Fund IV bridge facility was $79.2 million and $0 • Fund V has a $150.0 million subscription line collateralized by Fund V’s unfunded capital commitments and to the extent of Acadia’s capital commitments, is guaranteed by the Operating Partnership. During the year ended December 31, 2020, the Company modified the $150.0 million Fund V Subscription line and extended the due date from May 2020 to May 2021. The outstanding balance and total available credit of the Fund V subscription line was $0.3 million and $128.2 million, respectively at December 31, 2020 reflecting letters of credit of $21.5 million. The outstanding balance and total available credit of the Fund V subscription line was $0 and $150.0 million, respectively at December 31, 2019. Unsecured Revolving Line of Credit The Company had a total of $101.1 million and $173.6 million, respectively, available under its $250.0 million Core Revolver, reflecting borrowings of $138.4 and $60.8 million and letters of credit of $10.5 million and $15.6 million at December 31, 2020 and 2019, respectively. At each of December 31, 2020 and 2019, all of the Core unsecured revolving line of credit was swapped to a fixed rate. Scheduled Debt Principal Payments The scheduled principal repayments, without regard to available extension options (described further below), of the Company’s consolidated indebtedness, as of December 31, 2020 are as follows (in thousands): Year Ending December 31, 2021 $ 416,614 2022 528,008 2023 415,506 2024 212,020 2025 65,325 Thereafter 132,581 1,770,054 Unamortized premium 548 Net unamortized debt issuance costs (6,763 ) Total indebtedness $ 1,763,839 The table above does not reflect available extension options (subject to customary conditions) on consolidated debt of $231.3 million contractually due in 2021, $266.3 million contractually due in 2022, and $41.5 million contractually due in 2023; all for which the Company has available options to extend by up to 12 months and for some an additional 12 months thereafter. However, there can be no assurance that the Company will be able to successfully execute any or all of its available extension options. See Note 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, 2020
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 at times have zero balances and are included in Cash and cash equivalents in the consolidated financial statements, and are comprised of government securities and/or U.S. Treasury bills. These funds were classified as Level 1 as we used quoted prices from active markets to determine their fair values. Equity Investments –Albertsons became publicly traded during 2020 ( Note 4 ). Upon Albertsons’ IPO, the Company’s Investment in Albertsons has a readily determinable market value (traded on an exchange) and is being accounted for as a Level 1 investment. Derivative Assets — The Company has derivative assets, which are included in Other assets, net on the consolidated balance sheets, and comprised of interest rate swaps and caps. The derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. See “Derivative Financial Instruments,” below. Derivative Liabilities — The Company has derivative liabilities, which are included in Accounts payable and other liabilities on the consolidated balance sheets and are comprised of interest rate swaps. These derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 because they are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. See “Derivative Financial Instruments,” below. Other than the Investment in Albertsons described above, the Company did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during the year ended December 31, 2020 or 2019. 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, 2020 December 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money market funds $ — $ — $ — $ — $ — $ — Derivative financial instruments — 1 — — 2,583 — Investment in Albertsons (Note 4) 72,391 — — — — — Liabilities Derivative financial instruments — 90,139 — — 39,061 — In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Items Measured at Fair Value on a Nonrecurring Basis (Including Impairment Charges) During 2020, the Company was impacted by the COVID-19 Pandemic ( Note 1 ), which caused the Company to reduce its holding periods and forecasted operating income at certain properties. As a result, several impairments were recorded. Impairment charges for the periods presented are as follows (in thousands): Property and Location Owner Triggering Event Level 3 Inputs Effective Date Total Acadia's Share 2020 Impairment Charges Cortlandt Crossing, Mohegan Lake, NY Fund III Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 $ 27,402 $ 6,726 654 Broadway, New York, NY Fund III Reduced holding period Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 6,398 1,570 146 Geary Street, San Francisco, CA Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 6,718 1,553 801 Madison Avenue, New York, NY Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 11,031 2,551 717 N. Michigan Avenue, Chicago, IL Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Dec 31, 2020 17,392 4,021 110 University, New York, NY Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Dec 31, 2020 16,238 3,754 Fifth Wall Investment Core Decline in fair value Projections of: reported fair value of net assets Dec 31, 2020 419 419 Total 2020 Impairment Charges $ 85,598 $ 20,594 2019 Impairment Charges 210 Bowery residential units Fund IV Reduced selling price Contract sales price Sep 30, 2019 $ 321 $ 74 210 Bowery residential units Fund IV Reduced selling price Offering price Jun 30, 2019 1,400 321 Total 2019 Impairment Charges $ 1,721 $ 395 Derivative Financial Instruments The Company had the following interest rate swaps and caps for the periods presented (dollars in thousands): Strike Rate Fair Value Derivative Instrument Aggregate Notional Amount Effective Date Maturity Date Low High Balance Sheet Location December 31, 2020 December 31, 2019 Core Interest Rate Swaps $ 532,796 Dec 2012-Apr 2023 Jun 2021-Apr 2033 1.24 % — 3.77 % Other Liabilities (a) $ (74,990 ) $ (33,750 ) Interest Rate Swap 39,352 Nov 2015 Jan 2021 1.31 % — 1.31 % Other Assets — 456 $ 572,148 $ (74,990 ) $ (33,294 ) Fund II Interest Rate Swap $ 18,803 Oct 2014 Nov 2021 2.88 % — 2.88 % Other Liabilities $ (219 ) $ (139 ) Interest Rate Cap 45,000 Mar 2019 Mar 2022 3.50 % — 3.50 % Other Assets — 1 $ 63,803 $ (219 ) $ (138 ) Fund III Interest Rate Caps $ 39,470 Jan 2020 -Jan 2021 Jan 2021-Jul 2022 3.00 % — 3.00 % Other Assets (b) $ — $ — Fund IV Interest Rate Swaps $ — — — — — — Other Assets $ — $ 22 Interest Rate Swaps 66,590 Mar 2017 - Dec 2019 Apr 2022 - Dec 2022 1.48 % — 4.00 % Other Liabilities (1,713 ) (812 ) Interest Rate Caps 77,400 July 2019 - Dec 2020 Jul 2021 - Dec 2022 3.00 % — 3.50 % Other Assets 1 — $ 143,990 $ (1,712 ) $ (790 ) Fund V Interest Rate Swaps $ — — — — — — Other Assets $ — $ 2,104 Interest Rate Swaps 334,323 Jan 2018-Nov 2019 Feb 2021-Oct 2024 1.25 % — 2.88 % Other Liabilities (13,217 ) (4,360 ) $ 334,323 $ (13,217 ) $ (2,256 ) Total asset derivatives $ 1 $ 2,583 Total liability derivatives $ (90,139 ) $ (39,061 ) (a) Includes one swap with an aggregate value of ($1.8) million (b) Includes one cap with an aggregate fair value of zero at December 31, 2020, which was acquired during November 2020 with a notional value of zero and is not effective until January 2021. 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 $20.2 million included in Accumulated other comprehensive (loss) related to derivatives will be reclassified to interest expense within the next twelve months. As of December 31, 2020 and 2019, 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-performanc e by the counterparties to the s waps if the derivative position has a positive balance. The Company believes it mitigates it s credit risk by entering into s waps 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, 2020 December 31, 2019 Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Notes Receivable (a) 3 $ 101,450 $ 102,135 $ 114,943 $ 113,422 Mortgage and Other Notes Payable (a) 3 1,131,315 1,111,354 1,179,503 1,191,281 Investment in non-traded equity securities (b) 3 1,726 1,456 1,778 57,964 Unsecured notes payable and Unsecured line of credit (c) 2 638,739 623,392 538,425 539,362 (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 the Operating Partnership’s cost-method investment in Fifth Wall ( Note 4 ). Fair value as of December 31, 2019 also represents Mervyns II’s cost-method Investment in Albertsons, which is carried at fair value at December 31, 2020 and, therefore, is no longer reflected in the table above. (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, rents 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, 2020 and 2019 due to their short maturity profiles.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
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 $32.7 million and $41.1 million as of December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, the Company had letters of credit outstanding of $35.6 million and $19.8 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 Loss	12 Months Ended
	Dec. 31, 2020
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss	10. Shareholders’ Equity, Noncontrolling Interests and Other Comprehensive Loss Common Shares and Units In addition to the ATM Program activity discussed below, the Company completed the following transactions in its Common Shares during the year ended December 31, 2020: • The Company withheld 2,075 Restricted Shares to pay the employees’ statutory minimum income taxes due on the value of the portion of their Restricted Shares that vested. • The Company recognized Common Share and Common OP Unit-based compensation expense totaling $8.4 million in connection with Restricted Shares and Units ( Note 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, 2019: • The Company withheld 2,468 Restricted Shares to pay the employees’ statutory minimum income taxes due on the value of the portion of their Restricted Shares that vested. • The Company recognized Common Share and Common OP Unit-based compensation expense totaling $8.8 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, 2020. During the year ended December 31, 2019, the Company sold 5,164,055 Common Shares under its ATM Program for gross proceeds of $147.7 million, or $145.5 million net of issuance costs, at a weighted-average gross price per share of $28.61. During the year ended December 31, 2020, the Company did not sell any Common Shares under its ATM Program. Share Repurchase Program During 2018, the Company’s board of trustees (the “Board”) approved a new share repurchase program, which authorizes management, at its discretion, to repurchase up to $200.0 million of its outstanding Common Shares. The program does not obligate the Company to repurchase any specific number of Common Shares and may be discontinued or extended at any time. The Company did not repurchase any shares during the year ended December 31, 2019. During the first quarter of 2020, the Company repurchased 1,219,065 Common Shares for $22.4 million, inclusive of $0.1 million of fees, at a weighted average price per share of $18.29, under the share repurchase program, under which 122.6 million remains available at December 31, 2020. Dividends and Distributions The following table sets forth the distributions declared and/or paid during the periods presented: Date Declared Amount Per Share Record Date Payment Date November 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 February 26, 2020 $ 0.29 March 31, 2020 April 15, 2020 Beginning with the second quarter of 2020, the Board temporarily suspended distributions on its Common Shares and Common OP Units, which suspension the Board has determined to continue through the fourth quarter of 2020; however, distributions of $0.1 million were payable to preferred unit holders at each of June 30, 2020, September 30, 2020 and December 31, 2020. Assuming that current operating conditions continue to prevail, the Company currently expects to reinstate quarterly distributions in the first quarter of 2021, which would be subject to Board approval at that time. Accumulated Other Comprehensive Loss The following tables set forth the activity in accumulated other comprehensive loss for the years ended December 31, 2020, 2019 and 2018 (in thousands): Gains or Losses on Derivative Instruments Balance at January 1, 2020 $ (31,175 ) Other comprehensive loss before reclassifications - swap agreements (74,236 ) Reclassification of realized interest on swap agreements 15,203 Net current period other comprehensive loss (59,033 ) Net current period other comprehensive loss attributable to noncontrolling interests 15,317 Balance at December 31, 2020 $ (74,891 ) Balance at January 1, 2019 $ 516 Other comprehensive loss before reclassifications - swap agreements (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 income attributable to noncontrolling interests 490 Balance at December 31, 2018 $ 516 Noncontrolling Interests The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands): Noncontrolling Interests in Operating Partnership (a) Noncontrolling Interests in Partially-Owned Affiliates (b) Total Balance at January 1, 2020 $ 97,670 $ 546,987 $ 644,657 Distributions declared of $0.29 per Common OP Unit (2,218 ) — (2,218 ) Net income (loss) for the year ended December 31, 2020 125 (57,404 ) (57,279 ) Conversion of 407,594 Common OP Units to Common Shares by limited partners of the Operating Partnership (6,544 ) — (6,544 ) Other comprehensive loss - unrealized loss on valuation of swap agreements (2,709 ) (18,246 ) (20,955 ) Cumulative effect of change in accounting principle (Note 1) — (11 ) (11 ) Acquisition of noncontrolling interest (Note 7) — 15,918 15,918 Reclassification of realized interest expense on swap agreements 174 5,464 5,638 Noncontrolling interest contributions — 52,674 52,674 Noncontrolling interest distributions — (27,574 ) (27,574 ) Employee Long-term Incentive Plan Unit Awards 10,130 — 10,130 Reallocation of noncontrolling interests (c) (7,197 ) — (7,197 ) Balance at December 31, 2020 $ 89,431 $ 517,808 $ 607,239 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 income - 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 loss - unrealized loss 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 Rebalancing adjustment (c) (4,556 ) — (4,556 ) Balance at December 31, 2018 $ 104,223 $ 518,219 $ 622,442 (a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,101,958, 3,250,603 and 3,329,640 Common OP Units at December 31, 2020, 2019 and 2018, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2020, 2019 and 2018; (iii) 126,593 Series C Preferred OP Units at December 31, 2020, and 136,593 at December 31, 2019 and 2018; and (iv) 2,886,207, 2,673,484 and 2,569,044 LTIP units at December 31, 2020, 2019 and 2018, 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 five 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, 2020. In 1999 the Operating Partnership issued 1,580 Series A Preferred OP Units in connection with the acquisition of a property, which have a stated value of $1,000 per unit, and are entitled to a preferred quarterly distribution of the greater of (i) $22.50 (9.00% annually) per Series A Preferred OP Unit or (ii) the quarterly distribution attributable to a Series A Preferred OP Unit if such unit was converted into a Common OP Unit. Through December 31, 2020, 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, 2020, 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, 2020
Leases [Abstract]
Leases	11. Leases Operating Leases As Lessor The Company is engaged in the operation of shopping centers and other retail properties that are either owned or, with respect to certain shopping centers, operated under long-term ground leases (see below) that expire at various dates through June 20, 2066, with renewal options. Space in the shopping centers is leased to tenants pursuant to agreements that provide for terms ranging generally from one month to sixty years and generally provide for additional rents based on certain operating expenses as well as tenants’ sales volumes. During the year ended December 31, 2020, the Company earned $57.7 million in variable lease revenues, primarily for real estate taxes and common area maintenance charges, which are included in rental income in the consolidated statements of operations. As Lessee During the year ended December 31, 2020, the Company: • entered into one new office lease as lessee for which the lease commenced in the third quarter of 2020. The Company recorded a right-of-use asset and corresponding lease liability of $1.7 million • modified its 991 Madison master lease by converting the 49-year fixed term to a 15-year term. As a result of the modification, the lease was reclassified from a finance lease to an operating lease during the second quarter of 2020 • consolidated one property within the BSP II portfolio, 102 E. Broughton, ( Note 2 , Note 4 ), which was subject to a ground lease classified as an operating lease, during the second quarter of 2020 • recorded an impairment charge of $12.3 million on a right-of-use asset for a Fund IV property, 110 University Place ( Note 8 ) • renewed one ground lease for Branch Plaza, an operating lease, for 22 years; and • modified its 1238 Wisconsin lease agreement for a reduced purchase price from $14.5 million to $11.5 million. As a result, remeasured and reduced its right-of-use asset and lease liability by $1.9 million in the fourth quarter of 2020. 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, 2020 Year Ended December 31, 2019 Amounts recorded upon acquisition of leasehold interests: 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, 2020 2019 Lease Cost Finance lease cost: Amortization of right-of-use assets $ 1,595 $ 1,603 Interest on lease liabilities 1,635 2,755 Subtotal 3,230 4,358 Operating lease cost 7,661 3,037 Variable lease cost 143 119 Total lease cost $ 11,034 $ 7,514 Other Information Weighted-average remaining lease term - finance leases (years) 33.4 42.5 Weighted-average remaining lease term - operating leases (years) 26.4 34.1 Weighted-average discount rate - finance leases 6.2 % 4.5 % Weighted-average discount rate - operating leases 5.6 % 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, 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, 2020, are summarized as follows (in thousands): Minimum Rental Payments Year Ending December 31, Minimum Rental Revenues (a) Operating Leases (b) Finance Leases (b) 2021 $ 206,451 $ 8,531 $ 134 2022 196,633 7,779 95 2023 174,947 7,801 69 2024 149,532 7,983 47 2025 119,738 8,020 — Thereafter 525,288 150,435 12,289 Total $ 1,372,589 $ 190,549 $ 12,634 (a) Amount represents contractual lease maturities at December 31, 2020 including any extension options that management determined were reasonably certain of exercise. During the end of March 2020, numerous tenants were forced to suspend operations by government mandate as a result of the COVID-19 Pandemic. The Company has negotiated payment agreements with selected tenants which resulted in rent concessions or deferral of rents as discussed further in Note 1 . (b) Minimum rental payments include $101.8 million of interest related to operating leases and $6.4 million related to finance leases and exclude options or renewals not reasonably certain of exercise. During the years ended December 31, 2020, 2019 and 2018, 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, 2020
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, 2020 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 160,262 $ 95,222 $ — $ — $ 255,484 Depreciation and amortization (76,125 ) (73,668 ) — — (149,793 ) Property operating expenses, other operating and real estate taxes (57,246 ) (42,854 ) — — (100,100 ) General and administrative expenses — — — (36,055 ) (36,055 ) Impairment charges (419 ) (85,179 ) — — (85,598 ) Gain on disposition of properties 174 509 — — 683 Operating income (loss) 26,646 (105,970 ) — (36,055 ) (115,379 ) Interest income — — 8,979 — 8,979 Equity in losses of unconsolidated affiliates inclusive of gains on disposition of properties (874 ) (363 ) — — (1,237 ) Interest expense (33,185 ) (38,875 ) — — (72,060 ) Realized and unrealized holding gains on investments and other 18,564 95,366 — — 113,930 Income tax provision — — — (271 ) (271 ) Net income (loss) 11,151 (49,842 ) 8,979 (36,326 ) (66,038 ) Net (income) loss attributable to noncontrolling interests (5,837 ) 63,116 — — 57,279 Net income (loss) attributable to Acadia (a) $ 5,314 $ 13,274 $ 8,979 $ (36,326 ) $ (8,759 ) Real estate at cost (b) $ 2,330,116 $ 1,764,172 $ — $ — $ 4,094,288 Total Assets (b) $ 2,254,680 $ 1,830,752 $ 101,450 $ — $ 4,186,882 Cash paid for acquisition of real estate and leasehold interest $ 19,963 $ 1,245 $ — $ — $ 21,208 Cash paid for development and property improvement costs $ 11,170 $ 29,313 $ — $ — $ 40,483 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 charges — (1,721 ) — — (1,721 ) Gain on disposition of properties 16,771 13,553 — — 30,324 Operating income (loss) 81,097 26,922 — (35,416 ) 72,603 Interest income — — 7,988 — 7,988 Equity in earnings (loss) of unconsolidated affiliates inclusive of gains on disposition of properties 9,020 (98 ) — — 8,922 Interest expense (28,304 ) (45,484 ) — — (73,788 ) Realized and unrealized holding (losses) gains on investments and other 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) $ 2,252,230 $ 1,787,306 $ — $ — $ 4,039,536 Total Assets (b) $ 2,350,833 $ 1,843,338 $ 114,943 $ — $ 4,309,114 Cash paid for acquisition of real estate $ 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 (loss) 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 41,693 (35,345 ) 13,231 (35,277 ) (15,698 ) Net loss 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 $ 2,069,439 $ 1,628,366 $ — $ — $ 3,697,805 Total assets $ 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 (a) Net income attributable to Acadia for the Core segment includes $2.2 million, $4.7 million and $4.1 million associated with one property, Town Center, for the years ended December 31, 2020, 2019 and 2018, 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. In April 2020, the Town Center venture was consolidated ( Note 4 ). (b) Real estate at cost and total assets for the Funds segment include $641.7 million and $603.3 million, or $186.5 million and $174.7 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2020 and 2019, respectively.

Share Incentive and Other Compe

Share Incentive and Other Compensation	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share Incentive and Other Compensation	13. Share Incentive and Other Compensation Share Incentive Plan On March 23, 2020, the Company’s Board approved the 2020 Share Incentive Plan (the “2020 Plan”), which increased the aggregate number of Common Shares authorized for issuance by 2,650,000 shares. The 2020 Plan authorizes the Company to issue options, Restricted Shares, LTIP Units and other securities (collectively “Awards”) to, among others, the Company’s officers, trustees and employees. At December 31, 2020 a total of 2,738,013 shares remained available to be issued under the Share Incentive Plan. Restricted Shares and LTIP Units During the year ended December 31, 2020, the Company issued 396,149 LTIP Units and 13,766 restricted share units (“Restricted Share Units”) to employees of the Company pursuant to the Share Incentive Plan. Certain of these equity awards were granted in performance-based Restricted Share Units or LTIP Units with market conditions as described below (“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 2020 and 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 $10.4 million. Total long-term incentive compensation expense, including the expense related to the Share Incentive Plan, was $8.4 million, In addition, members of the Board have been issued shares and units under the Share Incentive Plan. During 2020, the Company issued 42,680 LTIP Units and 53,058 Restricted Shares to Trustees of the Company in connection with Trustee fees. Vesting with respect to 17,492 of the LTIP Units and 19,474 of the Restricted Shares will be on the first anniversary of the date of issuance and 25,188 of the LTIP Units and 33,584 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 for each of the years ended December 31, 2020 and 2019, respectively. In 2009, the Company adopted the Long-Term Investment Alignment Program (the “Program”) pursuant to which the Company may grant awards to employees, entitling them to receive up to 25% of any potential future payments of Promote to the Operating Partnership from Funds III , IV and V . As of December 31, 2020 , t he 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 % of the potential Promote payments from Fund V to the Operating Partnership . Payments to senior executives under the Program require further Board approval at the time any potential payments are due pursuant to these grants. Compensation relating to these awards will be recognized in each reporting period in which Board approval is granted. As payments to other employees are not subject to further Board approval, compensation relating to these awards will be recorded based on the estimated fair value at each reporting period in accordance with ASC Topic 718, Compensation– Stock Compensation. The Company did not recognize any compensation expense for the years ended December 31, 2020, 2019, and 2018, related to the Program in connection with Fund III, Fund IV or Fund V. A summary of the status of the Company’s unvested Restricted Shares and LTIP Units is presented below: Unvested Restricted Shares and LTIP Units Common Restricted Shares Weighted Grant-Date Fair Value LTIP Units Weighted Grant-Date Fair Value Unvested at January 1, 2018 41,327 $ 26.92 910,099 $ 28.28 Granted 22,817 23.65 425,880 26.80 Vested (25,261 ) 30.79 (431,827 ) 29.72 Forfeited (428 ) 27.25 (12,266 ) 28.57 Unvested at December 31, 2018 38,455 $ 22.44 891,886 $ 26.87 Granted 25,359 28.56 350,726 32.75 Vested (21,424 ) 27.12 (290,753 ) 29.30 Forfeited — — (15,679 ) 31.49 Unvested at December 31, 2019 42,390 23.73 936,180 28.24 Granted 66,824 13.70 440,829 19.64 Vested (19,264 ) 27.72 (250,241 ) 30.44 Forfeited (39 ) 24.77 (3,879 ) 24.67 Unvested at December 31, 2020 89,911 $ 15.42 1,122,889 $ 24.38 The weighted-average grant date fair value for Restricted Shares and LTIP Units granted for the years ended December 31, 2020 and 2019 were $18.86 and $32.50, respectively. As of December 31, 2020, there was $15.1 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, 2020 and 2019, was $0.5 million and $0.6 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, 2020 and 2019, was $7.6 million and $8.5 million, respectively. Other Plans On a combined basis, the Company incurred a total of $0.3 million of compensation expense related to the following employee benefit plans for each of the years ended December 31, 2020, 2019 and 2018: Employee Share Purchase Plan The Acadia Realty Trust Employee Share Purchase Plan (the “Purchase Plan”), allows eligible employees of the Company to purchase Common Shares through payroll deductions. The Purchase Plan provides for employees to purchase Common Shares on a quarterly basis at a 15% discount to the closing price of the Company’s Common Shares on either the first day or the last day of the quarter, whichever is lower. A participant may not purchase more than $25,000 in Common Shares per year. Compensation expense will be recognized by the Company to the extent of the above discount to the closing price of the Common Shares with respect to the applicable quarter. A total of 5,266 and 2,320 Common Shares were purchased by employees under the Purchase Plan for the year ended December 31, 2020 and 2019, 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, 2020.

Federal Income Taxes

Federal Income Taxes	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018, 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, 2020, the Company recognized no material adjustments regarding its tax accounting treatment for uncertain tax provisions. As of December 31, 2020, the tax years that remain subject to examination by the major tax jurisdictions under applicable statutes of limitations are generally the year 2017 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) 2020 2019 2018 Net income attributable to Acadia $ (8,759 ) $ 53,045 $ 31,439 Deferred cancellation of indebtedness income — — 2,050 Deferred rental and other income (a) (2,498 ) 1,203 1,222 Book/tax difference - depreciation and amortization (a) 27,052 21,688 23,166 Straight-line rent and above- and below-market rent adjustments (a) 8,630 (10,949 ) (12,129 ) Book/tax differences - equity-based compensation 6,825 7,177 6,042 Joint venture equity in earnings, net (a) (163 ) 15,571 13,905 Impairment charges and reserves 18,734 — — Acquisition costs (a) 14 63 326 Gain on disposition of properties 4,936 2,375 — Book/tax differences - miscellaneous (253 ) (1,473 ) (2,821 ) Taxable income $ 54,518 $ 88,700 $ 63,200 Distributions declared (b) $ 24,937 $ 96,310 $ 89,122 (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.” (b) The entire fourth quarter 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, 2020 2019 2018 Per Share % Per Share % Per Share % Ordinary income - Non-Section 199A $ — — % $ — — % — — % Ordinary income - Section 199A 0.520 90 % 0.820 77 % 0.870 100 % Qualified dividend — — % — — % — — % Capital gain 0.060 10 % 0.240 23 % — — % Total (b) $ 0.580 100 % $ 1.060 100 % 0.870 100 % (c) 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, 2020 2019 2018 TRS loss before income taxes $ (3,856 ) $ (3,117 ) $ (2,609 ) (Provision) benefit for income taxes: Federal 376 754 (377 ) State and local (268 ) 317 26 TRS net loss before noncontrolling interests (3,748 ) (2,046 ) (2,960 ) Noncontrolling interests 746 (369 ) 4 TRS net loss $ (3,002 ) $ (2,415 ) $ (2,956 ) 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, 2020 2019 2018 Federal tax benefit at statutory tax rate $ (810 ) $ (655 ) $ (548 ) TRS state and local taxes, net of Federal benefit (244 ) (197 ) (165 ) Tax effect of: Permanent differences, net 227 239 951 Prior year over-accrual, net — — — Effect of Tax Cuts and Jobs Act — — — Adjustment to deferred tax reserve 851 1,748 (1,530 ) Other (131 ) (112 ) 1,702 REIT state and local income and franchise taxes 378 445 524 Total provision for income taxes $ 271 $ 1,468 $ 934 As of December 31, 2020, and 2019, the Company’s deferred tax assets were $0 and $0.9 million net of applicable reserves of $2.6 million and $1.7 million, 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 $2.5 million, respectively. Under GAAP a reduction of the carrying amounts of deferred tax assets by a valuation allowance is required, if, based on the evidence available, it is more likely than not (a likelihood of more than 50 percent) that some portion or all of the deferred tax assets will not be realized. The valuation allowance should be sufficient to reduce the deferred tax asset to the amount that is more likely than not to be realized. During 2020, the Company determined that the realization of its deferred tax assets was not likely and as such, the Company recorded a valuation allowance against its deferred tax assets of $0.9 million.

(Loss) Earnings Per Common Shar

(Loss) Earnings Per Common Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
(Loss) Earnings Per Common Share	15. (Loss) Earnings Per Common Share Basic earnings (loss) per Common Share is computed by dividing net income (loss) attributable to Common Shareholders by the weighted average Common Shares outstanding ( Note 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 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) 2020 2019 2018 Numerator: Net (loss) income attributable to Acadia $ (8,759 ) $ 53,045 $ 31,439 Less: net income attributable to participating securities (233 ) (413 ) (267 ) (Loss) income from continuing operations net of income attributable to participating securities $ (8,992 ) $ 52,632 $ 31,172 Denominator: Weighted average shares for basic earnings per share 86,441,922 84,435,826 82,080,159 Effect of dilutive securities: Employee unvested restricted shares — — — Denominator for diluted earnings per share 86,441,922 84,435,826 82,080,159 Basic (loss) income and diluted earnings per Common Share from continuing operations attributable to Acadia $ (0.10 ) $ 0.62 $ 0.38 Anti-Dilutive Shares Excluded from Denominator: Series A Preferred OP Units 188 188 188 Series A Preferred OP Units - Common share equivalent 25,067 25,067 25,067 Series C Preferred OP Units 126,593 136,593 136,593 Series C Preferred OP Units - Common share equivalent 439,556 474,278 474,278 Restricted shares 76,394 40,821 36,879

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events COVID-19 Pandemic Update The information provided about the impact of the COVID-19 Pandemic in Note 1 is updated for activity subsequent to December 31, 2020 as follows: • Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated ABR derived from stores which were open or partially open for business as of the dates indicated: Percentage of Tenants Open for Business as of June 30, 2020 September 30, 2020 December 31, 2020 January 31, 2021 Core 74 % 86 % 88 % 89 % Fund 74 % 88 % 82 % 85 % • Rent Collections – The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown (Fund collections rates exclude data for non-managed properties): Collections as of: September 30, 2020 for December 31, 2020 for January 31, 2021 for Second Quarter 2020 Third Quarter 2020 Second Quarter 2020 Third Quarter 2020 Fourth Quarter 2020 Fourth Quarter 2020 (Unaudited) Core 74 % 85 % 76 % 87 % 91 % 92 % Fund 65 % 77 % 67 % 79 % 82 % 84 % • Rent Concession Agreements – During January 2021, the Company executed 13 rent concession arrangements with tenants comprised of five agreements for rent deferral and eight agreements for rent forgiveness related to the COVID-19 Pandemic. The Company is currently determining how it will account for these agreements. At December 31, 2020, the Company had executed a total of 288 rent concession agreements related to the COVID-19 Pandemic ( Note 1 ). • Bankruptcy Risk – Subsequent to December 31, 2020 and through January 31, 2021, there have been no additional bankruptcies of national retailers, that are tenants of the Company. As of January 31, 2021, for all bankruptcies announced during 2020, the Core Portfolio has four operating stores with ABR attributable to Acadia totaling $1.2 million, or 0.9% of Core ABR, and the Fund Portfolio has seven operating stores with ABR attributable to Acadia totaling $0.2 million, or 0.8% of Fund ABR, for which these leases may be rejected in the future. Dispositions On January 4, 2021, Fund V sold two outparcels at an unconsolidated property for a total of $10.5 million and repaid the $7.9 million mortgage on the property. On January 29, 2021, the Company sold its consolidated Core Portfolio 60 Orange Street property for $16.4 million and repaid the $6.7 million mortgage on the property. Loan Modifications On February 12, 2021, Fund IV extended the maturity date on one of its mortgages payable by one year to February 2022 On February 16, 2021, to address a liquidity covenant violation at December 31, 2020 ( Note 7 ), Fund IV modified certain terms of its Bridge facility which had an outstanding balance of $79.2 million at December 31, 2020. In connection with the modification, Fund IV repaid $10.0 million at closing and agreed to repay an additional $5.0 million by September 1, 2021. In addition, the maturity date was extended from June 30, 2021 to December 31, 2021. Fund IV may exercise an option to extend the loan’s maturity to June 30, 2022, which would require an additional $5.0 million repayment.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2020
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, 2020: Allowance for deferred tax asset $ 1,748 $ — $ 851 $ — $ 2,599 Allowance for uncollectible accounts 11,408 46,844 (12,844 ) — 45,408 Allowance for notes receivable 400 250 — — 650 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 — — — — —

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2020
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, 2020 Initial Cost to Company Amount at Which Carried at December 31, 2020 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Operations is Compared Core Portfolio: Crescent Plaza Brockton, MA — 1,147 7,425 3,357 1,147 10,782 11,929 8,766 1993 (a) 40 years New Loudon Center Latham, NY — 505 4,161 14,736 505 18,897 19,402 16,143 1993 (a) 40 years Mark Plaza Edwardsville, PA — — 3,396 — — 3,396 3,396 3,074 1993 (c) 40 years Plaza 422 Lebanon, PA — 190 3,004 2,809 190 5,813 6,003 5,298 1993 (c) 40 years Route 6 Mall Honesdale, PA — 1,664 — 12,515 1,664 12,515 14,179 10,658 1994 (c) 40 years Abington Towne Center Abington, PA — 799 3,197 3,872 799 7,069 7,868 4,444 1998 (a) 40 years Bloomfield Town Square Bloomfield Hills, MI — 3,207 13,774 22,705 3,207 36,479 39,686 25,390 1998 (a) 40 years Elmwood Park Shopping Center Elmwood Park, NJ — 3,248 12,992 18,143 3,798 30,585 34,383 20,969 1998 (a) 40 years Merrillville Plaza Hobart, IN — 4,288 17,152 6,269 4,288 23,421 27,709 14,854 1998 (a) 40 years Marketplace of Absecon Absecon, NJ — 2,573 10,294 5,193 2,577 15,483 18,060 9,548 1998 (a) 40 years 239 Greenwich Avenue Greenwich, CT 26,212 1,817 15,846 1,086 1,817 16,932 18,749 9,190 1998 (a) 40 years Hobson West Plaza Naperville, IL — 1,793 7,172 5,308 1,793 12,480 14,273 6,374 1998 (a) 40 years Village Commons Shopping Center Smithtown, NY — 3,229 12,917 5,238 3,229 18,155 21,384 11,063 1998 (a) 40 years Town Line Plaza Rocky Hill, CT — 878 3,510 8,008 907 11,489 12,396 9,505 1998 (a) 40 years Branch Shopping Center Smithtown, NY — 3,156 12,545 16,470 3,401 28,770 32,171 15,894 1998 (a) 40 years Methuen Shopping Center Methuen, MA — 956 3,826 1,695 961 5,516 6,477 3,057 1998 (a) 40 years The Gateway Shopping Center South Burlington, VT — 1,273 5,091 12,751 1,273 17,842 19,115 11,258 1999 (a) 40 years Mad River Station Dayton, OH — 2,350 9,404 2,254 2,350 11,658 14,008 6,827 1999 (a) 40 years Brandywine Holdings Wilmington, DE — 5,063 15,252 2,495 5,201 17,609 22,810 8,002 2003 (a) 40 years Bartow Avenue Bronx, NY — 1,691 5,803 1,331 1,691 7,134 8,825 3,647 2005 (c) 40 years Amboy Road Staten Island, NY — — 11,909 3,195 — 15,104 15,104 8,911 2005 (a) 40 years Chestnut Hill Philadelphia, PA — 8,289 5,691 4,509 8,289 10,200 18,489 5,372 2006 (a) 40 years 2914 Third Avenue Bronx, NY — 11,108 8,038 5,231 11,855 12,522 24,377 3,778 2006 (a) 40 years West Shore Expressway Staten Island, NY — 3,380 13,499 62 3,380 13,561 16,941 5,259 2007 (a) 40 years West 54th Street Manhattan, NY — 16,699 18,704 1,308 16,699 20,012 36,711 7,290 2007 (a) 40 years 5-7 East 17th Street Manhattan, NY — 3,048 7,281 6,145 3,048 13,426 16,474 8,502 2008 (a) 40 years 651-671 W Diversey Chicago, IL — 8,576 17,256 15 8,576 17,271 25,847 4,136 2011 (a) 40 years 15 Mercer Street Manhattan, NY — 1,887 2,483 1 1,887 2,484 4,371 590 2011 (a) 40 years 4401 White Plains Bronx, NY — 1,581 5,054 — 1,581 5,054 6,635 1,179 2011 (a) 40 years 56 E. Walton Chicago, IL — 994 6,126 2,666 994 8,792 9,786 534 2011 (a) 40 years 841 W. Armitage Chicago, IL — 728 1,989 422 728 2,411 3,139 647 2011 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2020 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Operations is Compared 2731 N. Clark Chicago, IL — 557 1,839 32 557 1,871 2,428 451 2011 (a) 40 years 2140 N. Clybourn Chicago, IL — 306 788 — 306 788 1,094 187 2011 (a) 40 years 853 W. Armitage Chicago, IL — 557 1,946 439 557 2,385 2,942 688 2011 (a) 40 years 2299 N. Clybourn Avenue Chicago, IL — 177 484 — 177 484 661 114 2011 (a) 40 years 843-45 W. Armitage Chicago, IL — 731 2,730 228 731 2,958 3,689 682 2012 (a) 40 years 1525 W. Belmont Avenue Chicago, IL — 1,480 3,338 711 1,480 4,049 5,529 890 2012 (a) 40 years 2206-08 N. Halsted Chicago, IL — 1,183 3,540 351 1,183 3,891 5,074 1,119 2012 (a) 40 years 2633 N. Halsted Chicago, IL — 960 4,096 359 998 4,417 5,415 961 2012 (a) 40 years 50-54 E. Walton Chicago, IL — 2,848 12,694 576 2,848 13,270 16,118 2,985 2012 (a) 40 years 662 W. Diversey Chicago, IL — 1,713 1,603 10 1,713 1,613 3,326 324 2012 (a) 40 years 837 W. Armitage Chicago, IL — 780 1,758 237 780 1,995 2,775 471 2012 (a) 40 years 823 W. Armitage Chicago, IL — 717 1,149 95 717 1,244 1,961 258 2012 (a) 40 years 851 W. Armitage Chicago, IL — 545 209 139 545 348 893 127 2012 (a) 40 years 1240 W. Belmont Avenue Chicago, IL — 2,137 1,589 1,357 2,137 2,946 5,083 587 2012 (a) 40 years 21 E. Chestnut Chicago, IL — 1,318 8,468 43 1,318 8,511 9,829 1,717 2012 (a) 40 years 819 W. Armitage Chicago, IL — 790 1,266 142 790 1,408 2,198 386 2012 (a) 40 years 1520 Milwaukee Avenue Chicago, IL — 2,110 1,306 290 2,110 1,596 3,706 366 2012 (a) 40 years 330-340 River St Cambridge, MA 10,875 8,404 14,235 — 8,404 14,235 22,639 3,282 2012 (a) 40 years Rhode Island Place Shopping Center Washington, D.C. — 7,458 15,968 2,209 7,458 18,177 25,635 4,615 2012 (a) 40 years 930 Rush Street Chicago, IL — 4,933 14,587 — 4,933 14,587 19,520 3,191 2012 (a) 40 years 28 Jericho Turnpike Westbury, NY 12,895 6,220 24,416 34 6,220 24,450 30,670 5,496 2012 (a) 40 years 181 Main Street Westport, CT — 1,908 12,158 409 1,908 12,567 14,475 2,613 2012 (a) 40 years 83 Spring Street Manhattan, NY — 1,754 9,200 1 1,754 9,201 10,955 1,955 2012 (a) 40 years 60 Orange Street Bloomfield, NJ 6,727 3,609 10,790 — 3,609 10,790 14,399 2,454 2012 (a) 40 years 179-53 & 1801-03 Connecticut Avenue Washington, D.C. — 11,690 10,135 1,167 11,690 11,302 22,992 2,567 2012 (a) 40 years 639 West Diversey Chicago, IL — 4,429 6,102 1,082 4,429 7,184 11,613 1,735 2012 (a) 40 years 664 North Michigan Chicago, IL — 15,240 65,331 302 15,240 65,633 80,873 12,866 2013 (a) 40 years 8-12 E. Walton Chicago, IL — 5,398 15,601 977 5,398 16,578 21,976 3,425 2013 (a) 40 years 3200-3204 M Street Washington, DC — 6,899 4,249 168 6,899 4,417 11,316 965 2013 (a) 40 years 868 Broadway Manhattan, NY — 3,519 9,247 5 3,519 9,252 12,771 1,637 2013 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2020 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Operations is Compared 313-315 Bowery Manhattan, NY — — 5,516 — — 5,516 5,516 1,563 2013 (a) 40 years 120 West Broadway Manhattan, NY — — 32,819 1,167 — 33,986 33,986 4,009 2013 (a) 40 years 11 E. Walton Chicago, IL — 16,744 28,346 784 16,744 29,130 45,874 5,124 2014 (a) 40 years 61 Main Street Westport, CT — 4,578 2,645 1,740 4,578 4,385 8,963 601 2014 (a) 40 years 865 W. North Avenue Chicago, IL — 1,893 11,594 3,729 1,893 15,323 17,216 1,983 2014 (a) 40 years 152-154 Spring St. Manhattan, NY — 8,544 27,001 177 8,544 27,178 35,722 4,615 2014 (a) 40 years 2520 Flatbush Ave Brooklyn, NY — 6,613 10,419 303 6,613 10,722 17,335 1,855 2014 (a) 40 years 252-256 Greenwich Avenue Greenwich, CT — 10,175 12,641 958 10,175 13,599 23,774 2,404 2014 (a) 40 years Bedford Green Bedford Hills, NY — 12,425 32,730 4,445 13,763 35,837 49,600 6,381 2014 (a) 40 years 131-135 Prince Street Manhattan, NY — — 57,536 592 — 58,128 58,128 17,475 2014 (a) 40 years Shops at Grand Ave Queens, NY — 20,264 33,131 1,814 20,264 34,945 55,209 5,580 2014 (a) 40 years 201 Needham Street Newton, MA — 4,550 4,459 105 4,550 4,564 9,114 768 2014 (a) 40 years City Center San Francisco, CA — 36,063 109,098 (20,435 ) 26,386 98,340 124,726 17,050 2015 (a) 40 years 163 Highland Avenue Needham, MA 8,298 12,679 11,213 (107 ) 12,529 11,256 23,785 1,775 2015 (a) 40 years Roosevelt Galleria Chicago, IL — 4,838 14,574 79 4,838 14,653 19,491 1,957 2015 (a) 40 years Route 202 Shopping Center Wilmington, DE — — 6,346 501 — 6,847 6,847 1,463 2015 (a) 40 years 991 Madison Avenue Manhattan, NY — — 76,965 (75,359 ) — 1,606 1,606 359 2016 (a) 40 years 165 Newbury Street Boston, MA — 1,918 3,980 — 1,918 3,980 5,898 464 2016 (a) 40 years Concord & Milwaukee Chicago, IL 2,568 2,739 2,746 246 2,739 2,992 5,731 380 2016 (a) 40 years State & Washington Chicago, IL 23,298 3,907 70,943 6,225 3,907 77,168 81,075 8,505 2016 (a) 40 years 151 N. State Street Chicago, IL 13,253 1,941 25,529 — 1,941 25,529 27,470 2,819 2016 (a) 40 years North & Kingsbury Chicago, IL 11,756 18,731 16,292 664 18,731 16,956 35,687 1,868 2016 (a) 40 years Sullivan Center Chicago, IL 50,000 13,443 137,327 1,481 13,443 138,808 152,251 15,288 2016 (a) 40 years California & Armitage Chicago, IL 2,428 6,770 2,292 4 6,770 2,296 9,066 274 2016 (a) 40 years 555 9th Street San Francisco, CA 60,000 75,591 73,268 278 75,591 73,546 149,137 7,707 2016 (a) 40 years Market Square Wilmington, DE — 8,100 31,221 312 8,100 31,533 39,633 2,680 2017 (a) 40 years 613-623 W. Diversey Chicago, IL — 10,061 2,773 11,123 10,061 13,896 23,957 3,689 2018 (c) 40 years 51 Greene Street Manhattan, NY — 4,488 8,992 — 4,488 8,992 13,480 412 2019 (a) 40 years 53 Greene Street Manhattan, NY — 3,605 12,177 — 3,605 12,177 15,782 533 2019 (a) 40 years 41 Greene Street Manhattan, NY — 6,276 9,582 — 6,276 9,582 15,858 379 2019 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2020 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Operations is Compared 47 Greene Street Manhattan, NY — 6,265 16,758 — 6,265 16,758 23,023 594 2019 (a) 40 years 849 W Armitage Chicago, IL — 837 2,731 — 837 2,731 3,568 96 2019 (a) 40 years 912 W Armitage Chicago, IL — 982 2,868 — 982 2,868 3,850 100 2019 (a) 40 years Melrose Place Collection Los Angeles, CA — 20,490 26,788 — 20,490 26,788 47,278 784 2019 (a) 40 years 45 Greene Street Manhattan, NY — 2,903 8,487 2 2,903 8,489 11,392 248 2019 (a) 40 years 565 Broadway Manhattan, NY — — 22,491 12 — 22,503 22,503 609 2019 (a) 40 years 907 W Armitage Chicago, IL — 700 2,081 — 700 2,081 2,781 62 2019 (a) 40 years 37 Greene Street Manhattan, NY — 6,721 9,119 — 6,721 9,119 15,840 228 2020 (a) 40 years 917 W Armitage Chicago, IL — 901 2,368 — 901 2,368 3,269 59 2020 (a) 40 years Brandywine Town Center Wilmington, DE — 15,632 101,861 72 15,632 101,933 117,565 2,192 2020 (a) 40 years Fund II: City Point Brooklyn, NY 247,086 — 100,316 466,763 — 567,079 567,079 76,384 2007 (c) 40 years Fund III: 654 Broadway Manhattan, NY — 9,040 3,654 (2,126 ) 5,034 5,534 10,568 1,853 2011 (a) 40 years 640 Broadway Manhattan, NY 35,970 12,503 19,960 16,526 12,503 36,486 48,989 8,203 2012 (a) 40 years Cortlandt Crossing Mohegan Lake, NY 35,948 11,000 — 41,666 8,648 44,018 52,666 3,162 2012 (c) 40 years Fund IV: 210 Bowery Manhattan, NY — 1,875 5,625 (3,500 ) 1,875 2,125 4,000 109 2012 (c) 40 years Paramus Plaza Paramus, NJ 20,810 11,052 7,037 14,946 11,052 21,983 33,035 5,160 2013 (a) 40 years 27 E. 61st Street Manhattan, NY — 4,813 14,438 8,424 4,813 22,862 27,675 1,781 2014 (c) 40 years 17 E. 71st Street Manhattan, NY 15,385 7,391 20,176 322 7,391 20,498 27,889 3,281 2014 (a) 40 years 1035 Third Avenue Manhattan, NY — 12,759 37,431 5,753 14,099 41,844 55,943 6,880 2015 (a) 40 years 801 Madison Avenue Manhattan, NY — 4,178 28,470 (5,185 ) 2,922 24,541 27,463 2,599 2015 (c) 40 years 2208-2216 Fillmore Street San Francisco, CA 5,606 3,027 6,376 137 3,027 6,513 9,540 840 2015 (a) 40 years 2207 Fillmore Street San Francisco, CA 1,120 1,498 1,735 125 1,498 1,860 3,358 249 2015 (a) 40 years 146 Geary St. San Francisco, CA 22,900 9,500 28,500 (227 ) 8,037 29,736 37,773 186 2015 (a) 40 years 1964 Union Street San Francisco, CA 1,456 563 1,688 2,056 563 3,744 4,307 305 2016 (c) 40 years Restaurants at Fort Point Boston, MA 5,958 1,041 10,905 182 1,041 11,087 12,128 1,391 2016 (a) 40 years Wakeforest Crossing Wake Forest, NC 22,949 7,570 24,829 574 7,570 25,403 32,973 3,438 2016 (a) 40 years Airport Mall Bangor, ME 5,186 2,294 7,067 2,534 2,006 9,889 11,895 1,193 2016 (a) 40 years Dauphin Plaza Harrisburg, PA 12,466 5,290 9,464 3,069 5,290 12,533 17,823 2,089 2016 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2020 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Operations is Compared Mayfair Shopping Center Philadelphia, PA 11,597 6,178 9,266 1,095 6,178 10,361 16,539 1,344 2016 (a) 40 years Shaw's Plaza Waterville, ME 7,478 828 11,814 271 828 12,085 12,913 1,418 2016 (a) 40 years Wells Plaza Wells, ME 5,587 1,892 2,585 484 1,892 3,069 4,961 540 2016 (a) 40 years 717 N. Michigan Chicago, IL 14,810 20,674 10,093 (4,251 ) 17,652 8,864 26,516 1,021 2016 (c) 40 years Shaw's Plaza North Windham, ME 5,551 1,876 6,696 56 1,876 6,752 8,628 657 2017 (a) 40 years Lincoln Place Fairview Heights, IL 23,100 7,149 22,201 2,098 7,149 24,299 31,448 2,872 2017 (a) 40 years 18 E. Broughton St. Savannah, GA 2,032 609 1,513 22 609 1,535 2,144 87 2018 (a) 40 years 20 E. Broughton St. Savannah, GA 1,258 588 937 — 588 937 1,525 53 2018 (a) 40 years 25 E. Broughton St. Savannah, GA 3,302 1,324 2,459 362 1,324 2,821 4,145 197 2018 (a) 40 years 109 W. Broughton St. Savannah, GA 8,809 2,343 6,560 271 2,343 6,831 9,174 387 2018 (a) 40 years 204-206 W. Broughton St. Savannah, GA 590 547 439 45 547 484 1,031 30 2018 (a) 40 years 216-218 W. Broughton St. Savannah, GA 3,674 1,160 2,736 2,179 1,160 4,915 6,075 218 2018 (a) 40 years 220 W. Broughton St. Savannah, GA 2,416 619 1,799 1,109 619 2,908 3,527 165 2018 (a) 40 years 223 W. Broughton St. Savannah, GA 924 465 688 — 465 688 1,153 39 2018 (a) 40 years 226-228 W. Broughton St. Savannah, GA 2,551 660 1,900 34 660 1,934 2,594 110 2018 (a) 40 years 309/311 W. Broughton St. Savannah, GA 3,619 1,160 2,695 — 1,160 2,695 3,855 152 2018 (a) 40 years 110 University Manhattan, NY — — 1,370 (361 ) — 1,009 1,009 60 2019 (a) 40 years 230-240 W. Broughton St. Savannah, GA — 2,185 9,597 4 2,185 9,601 11,786 140 2020 (a) 40 years 102 E. Broughton St. Savannah, GA — — 514 — — 514 514 7 2020 (a) 40 years Fund V: Plaza Santa Fe Santa Fe, NM 22,893 — 28,214 680 — 28,894 28,894 2,886 2017 (a) 40 years Hickory Ridge Hickory, NC 29,876 7,852 29,998 1,472 7,852 31,470 39,322 3,140 2017 (a) 40 years New Towne Plaza Canton, MI 16,688 5,040 17,391 726 5,040 18,117 23,157 1,756 2017 (a) 40 years Fairlane Green Allen Park, MI 40,300 18,121 37,143 324 18,121 37,467 55,588 3,096 2017 (a) 40 years Trussville Promenade Birmingham, AL 29,370 7,587 34,285 43 7,587 34,328 41,915 2,652 2018 (a) 40 years Elk Grove Commons Elk Grove, CA 41,500 6,204 48,008 494 6,204 48,502 54,706 3,079 2018 (a) 40 years Hiram Pavilion Hiram, GA 28,830 13,029 25,446 259 13,029 25,705 38,734 1,800 2018 (a) 40 years Palm Coast Landing Palm Coast, FL 26,500 7,066 27,299 314 7,066 27,613 34,679 1,393 2019 (a) 40 years Lincoln Commons Lincoln, RI 38,820 14,429 34,417 316 14,429 34,733 49,162 1,561 2019 (a) 40 years Landstown Commons Virginia Beach, VA 60,900 10,222 69,005 676 10,222 69,681 79,903 2,632 2019 (a) 40 years Initial Cost to Company Amount at Which Carried at December 31, 2020 Description and Location Encumbrances Land Buildings & Improvements Increase (Decrease) in Net Investments Land Buildings & Improvements Total Accumulated Depreciation Date of Acquisition (a) Construction (c) Life on which Depreciation in Latest Statement of Operations is Compared Real Estate Under Development 37,190 73,469 25,347 148,533 83,146 164,203 247,349 — Unamortized Loan Costs (6,507 ) — — — — — — — Unamortized Premium 548 — — — — — — — Total $ 1,125,356 $ 867,524 $ 2,395,406 $ 831,358 $ 859,421 $ 3,234,867 $ 4,094,288 $ 586,800 Notes: 1. Depreciation on buildings and improvements reflected in the consolidated statements of operations is calculated over the estimated useful life of the assets as follows: Buildings at 40 years and improvements at the shorter of lease term or useful life. 2. The aggregate gross cost of property included above for Federal income tax purposes was approximately $4.2 billion as of December 31, 2020. The following table reconciles the activity for real estate properties from January 1, 2018 to December 31, 2020 (in thousands): Year Ended December 31, 2020 2019 2018 Balance at beginning of year $ 4,039,536 $ 3,697,805 $ 3,466,482 Improvements and other 75,246 97,000 99,594 Property acquisitions 19,109 303,884 134,559 Property dispositions or held for sale assets (19,659 ) (84,243 ) (34,666 ) Right-of-use assets - finance leases obtained and reclassified (76,965 ) 102,055 — Capital lease reclassified as Right-of-use assets - finance lease — (76,965 ) — Consolidation of previously unconsolidated investments 129,863 — 31,836 Impairment charges (72,842 ) — — Balance at end of year $ 4,094,288 $ 4,039,536 $ 3,697,805 The following table reconciles accumulated depreciation from January 1, 2018 to December 31, 2020 (in thousands): Year Ended December 31, 2020 2019 2018 Balance at beginning of year $ 490,227 $ 416,657 $ 339,862 Depreciation related to real estate 104,049 85,317 78,453 Property dispositions (939 ) (11,747 ) (1,658 ) Right-of-use assets - finance leases reclassified (6,537 ) — — Balance at end of year $ 586,800 $ 490,227 $ 416,657

SCHEDULE IV - MORTGAGE LOANS ON

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	12 Months Ended
	Dec. 31, 2020
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, 2020 First Mortgage Loan 6.00% 4/1/2020 $ 17,810 $ 17,802 Mezzanine Loan 18.00% 7/1/2020 5,306 5,306 Other 3.16% 4/10/2021 462 462 First Mortgage Loan 5.50% 10/28/2021 13,530 13,530 Mezzanine Loan 9.00% 1/13/2023 54,000 54,000 Other 4.65% 4/12/2026 6,000 6,000 Mezzanine Loan 8.00% 12/11/2027 5,000 5,000 Total $ 102,108 102,100 Allowance for credit loss (650 ) Net carrying amount of notes receivable $ 101,450 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, 2018 to December 31, 2020 (in thousands): Reconciliation of Loans on Real Estate Year Ended December 31, 2020 2019 2018 Balance at beginning of year $ 114,943 $ 111,775 $ 160,991 Additions 59,585 18,418 3,805 Repayments — (15,250 ) (31,000 ) Conversion to real estate through receipt of deed (72,428 ) — (22,021 ) Allowance for credit loss (650 ) — — Balance at end of year $ 101,450 $ 114,943 $ 111,775

Organization, Basis of Presen_2

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Segments	Segments At December 31, 2020, 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 (loss) 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 Certain prior year amounts with regard to right-of-use assets – operating leases, lease liabilities – operating leases and credit losses have been reclassified to conform to the current year presentation. These reclassifications had no effect on the reported results of operations.
Reclassifications	Reclassifications Certain prior year amounts with regard to right-of-use assets – operating leases, lease liabilities – operating leases 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 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, 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, real estate under development and right-of-use assets for impairment when there is an event or a change in circumstances that indicates that the carrying amount may not be recoverable. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value. The determination of anticipated undiscounted cash flows is inherently subjective, requiring significant estimates made by management, and considers the most likely expected course of action at the balance sheet date based on current plans, intended holding periods and available market information. If the Company is evaluating the potential sale of an asset, the undiscounted future cash flows analysis is probability-weighted based upon management’s best estimate of the likelihood of the alternative courses of action as of the balance sheet date. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. If an impairment is indicated, an impairment loss is recognized based on the excess of the carrying amount of the asset over its estimated fair value. See Note 8 for information about impairment charges recorded 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.
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 reported net of allowance for credit loss and are recorded at stated principal amounts or at initial investment less accretive yield for loans purchased at a discount, which is accreted over the life of the note. The Company defers loan origination and commitment fees, net of origination costs, and amortizes them over the term of the related loan. The Company evaluates the collectability of both principal and interest based upon an assessment of the underlying collateral value to determine whether it is impaired. Allowance for credit loss represents management’s estimate of future losses based on national historical economic loss rates for similar obligations, management’s estimate of future economic impacts and factors specific to the borrower. Certain of the Company’s loans are considered “collateral dependent” in that settlement of the amount is likely to be achieved by obtaining access to the collateral (e.g. notes in default). The same valuation techniques are used to value the collateral for such collateral dependent instruments as those used to determine the fair value of real estate investments for impairment purposes. Given the small number of notes outstanding, the Company believes the characteristics of its notes are not sufficiently similar to allow an evaluation as a group for credit loss allowance. As such, all of the Company’s notes are evaluated individually for this purpose. Interest income on performing notes is accrued as earned. A note is placed on non-accrual status when, based upon current information and events, it is probable that the Company will not be able to collect all amounts due according to the existing contractual terms. Income accrual is generally suspended for loans when recovery of income and principal becomes doubtful. Interest received is then recorded as a reduction in the outstanding principal balance until the accrual is resumed when it is probable that the Company will be able to collect amounts due according to the contractual terms of the notes.
Investments in and Advances to Unconsolidated Joint Ventures	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 (loss) earnings of unconsolidated affiliates the joint venture. The Company periodically reviews its investments in unconsolidated joint ventures for other-than-temporary losses in investment value. Any decline that is not expected to be recovered based on the underlying assets of the investment, is considered other than temporary and an impairment charge is recorded as a reduction in the carrying value of the investment. During the periods presented there were no impairment charges related to the Company’s investments in unconsolidated joint ventures.
Cash and Cash Equivalents	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 operations . Noncontrolling interests also include amounts related to common and preferred OP Units issued to unrelated third parties in connection with certain property acquisitions. In addition, the Company periodically issues common OP Units and LTIPs to certain employees of the Company under its share-based incentive program. Unit holders generally have the right to redeem their units for Common Shares subject to blackout and other limitations. Common and restricted OP Units are included in the caption Noncontrolling interest within the equity section on the Company’s consolidated balance sheets.
Revenue Recognition and Accounts Receivable	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, 2020 and 2019, unbilled rents receivable relating to the straight-lining of rents of $41.4 million and $48.4 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. The Company applies 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, 2020 and 2019 are shown net of an allowance for doubtful accounts of $45.4 million and $11.4 million, respectively. Rental income for the years ended and 2018 are reported net of adjustments of $46.8 million, $4.4 million and $2.5 million respectively, to allowance for doubtful accounts reflecting additional reserves, net of write-offs and recoveries, during 2020 due to the impact of the COVID-19 Pandemic ( Note 1 ).
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 operations.
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 Tax Cut and Jobs 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 federal income tax purposes, the Company is subject to state or local income or franchise taxes in certain jurisdictions in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s Taxable REIT Subsidiary (“TRS”) is fully subject to federal, state and local income taxes. The Company accounts for TRS income taxes under the liability method as required by ASC Topic 740, “Income Taxes.” Under the liability method, deferred income taxes are recognized for the temporary differences between the GAAP basis and tax basis of the TRS income, assets and liabilities. The recently enacted Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) temporarily relaxes existing limitations on the use and carryback of net operating losses incurred by our TRSs. Net operating losses generated in taxable years beginning in 2018, 2019 or 2020 can be carried back to the preceding 5 years. In addition, TRSs can fully offset their taxable income for taxable years beginning before 2021 using net operating loss carrybacks and carryforwards and can fully offset their taxable income for taxable years beginning after 2020 using pre-2018 net operating loss carryforwards. Any post-2017 net operating loss carryforwards can be used to offset up to 80% of taxable income after using pre-2018 net operating loss carryforwards. In 2020, the Company carried back $3.1 million of net operating losses, resulting in a refund of $1.0 million. The Company records net deferred tax assets to the extent it believes it is more likely than not that these assets will be realized. In 2019 and 2020, the Company recorded valuation allowances to reduce deferred tax assets when it determined that an uncertainty existed regarding their realization, which increased the provision for income taxes. In making such determination, the Company considered all available positive and negative evidence, including forecasts of future taxable income, the reversal of other existing temporary differences, available net operating loss carry-forwards, tax planning strategies and recent results of operations. Several of these considerations require assumptions and significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates that the Company is utilizing to manage its business. To the extent facts and circumstances change in the future, further adjustments to the valuation allowances may be required.
Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses In May 2019, the FASB issued ASU 2019-05, Financial Instruments — Credit Losses (Topic 326) ASU 2016-13, and its related ASUs have been adopted by the Company effective January 1, 2020. Retrospective adjustments were applied through a cumulative-effect adjustment to distributions in excess of accumulated earnings in shareholders equity. Upon implementation of ASU 2016-13 and other related guidance, the Company recorded loan loss allowances related to its Structured Financing portfolio (Note 3) of $0.4 million with a cumulative effect adjustment to distributions in excess of accumulated earnings. The Company recorded a credit loss allowance of $0.3 million during year ended December 31, 2020 Note 3 ), however, the Company has not made any changes to its accounting policies for accounting for credit losses for its receivables arising from operating leases. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments — Credit Losses. Other Accounting Topics In April 2019, the FASB issued ASU 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 August 2018, the FASB issued ASU 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement In March 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting On April 8, 2020, the FASB issued a Q&A allowing for reporting entities to make an accounting policy election to account for lease concessions related to the effects of COVID-19 consistent with how those concessions would be accounted for under Topic 842, which is as though the enforceable rights and obligations for those concessions existed regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract. This election is available for concessions that result in the total cash flows required by the modified contract being substantially the same or less than total cash flows required by the original contract. Effective April 1, 2020, the Company has made the accounting policy election noted above. The Company entered into concession agreements both as lessor and lessee during the year ended December 31, 2020 ( Note 1 ). The Company expects that it will grant further concessions during subsequent periods. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes. In January 2020, the FASB issued ASU 2020-01 Investments—Equity securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815 In August 2020, the FASB issued ASU 2020-06— Debt with conversion and other options (Subtopic 470-20) and derivatives and hedging—contracts in entity's own equity (Subtopic 815-40)—accounting for convertible instruments and contracts in an entity's own equity During October 2020, the SEC issued new rules modernizing certain Regulation S-K disclosure requirements. The final rule is intended to improve the readability of disclosures, reduce repetition, and eliminate immaterial information, thereby simplifying compliance for registrants and making disclosures more meaningful for investors. These changes will be effective for all filings on or after November 7, 2020. The Company has made minor disclosure changes to the "Business" and "Risk Factors" sections of this Form 10-K. In October 2020, the FASB issued ASU 2020-08 Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs December 15, 2020. Early application is not permitted. Currently, the Company does not have any such callable debt securities. As a result, the implementation of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In January 2021, the FASB issued ASU 2021-01 Reference Rate Reform (Topic 848)
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.
(Loss) Earnings Per Common Share	Basic earnings (loss) per Common Share is computed by dividing net income (loss) attributable to Common Shareholders by the weighted average Common Shares outstanding ( Note 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 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, 2020
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, 2020 (b) Unfunded Commitment (b, c) Equity Interest Held By Operating Partnership (a) Preferred Return Total Distributions as of December 31, 2020 (b, c) Fund II and Mervyns II (c) 6/2004 28.33 % $ 369.6 $ 15.7 28.33 % 8 % $ 169.8 Fund III 5/2007 24.54 % 448.1 1.9 24.54 % 6 % 568.8 Fund IV 5/2012 23.12 % 469.5 60.5 23.12 % 6 % 193.1 Fund V 8/2016 20.10 % 217.1 302.9 20.10 % 6 % 24.6 (a) Amount represents the current economic ownership at December 31, 2020, 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 , which amount was re-contribut ed to Fund II in April 202 0 . During June 2020, a distribution was made by Mervyn’s II to its investors which was re-contributed to Fund II in the amount of $ 7.5 million. During August 2020, a recallable distribution of $ 15.7 million was made by Mervyn’s II to its investors, of which $ 4.5 million was the Company’s share .
Schedule of Tenant Operating Status	Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated annualized base rents (“ABR”) derived from stores which were open or partially open for business as of the dates indicated: Percentage of Tenants Open for Business as of June 30, 2020 September 30, 2020 December 31 , 2020 Core 74 % 86 % 88 % Fund 74 % 88 % 82 % • Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated ABR derived from stores which were open or partially open for business as of the dates indicated: Percentage of Tenants Open for Business as of June 30, 2020 September 30, 2020 December 31, 2020 January 31, 2021 Core 74 % 86 % 88 % 89 % Fund 74 % 88 % 82 % 85 %
Schedule of Rent Collections	Rent Collections – The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown: Collections as of: September 30, 2020 for December 31, 2020 for Second Quarter 2020 Third Quarter 2020 Second Quarter 2020 Third Quarter 2020 Fourth Quarter 2020 Core 74 % 85 % 76 % 87 % 91 % Fund 65 % 77 % 67 % 79 % 82 % • Rent Collections – The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown (Fund collections rates exclude data for non-managed properties): Collections as of: September 30, 2020 for December 31, 2020 for January 31, 2021 for Second Quarter 2020 Third Quarter 2020 Second Quarter 2020 Third Quarter 2020 Fourth Quarter 2020 Fourth Quarter 2020 (Unaudited) Core 74 % 85 % 76 % 87 % 91 % 92 % Fund 65 % 77 % 67 % 79 % 82 % 84 %
Schedule of Earnings Impact	The rental income reductions and impairment charges impacted net earnings and segment performance as follows: Year Ended December 31, 2020 Consolidated Non-Controlling Interests Unconsolidated Attributable to Acadia Credit Loss - Billed Rents Core $ 12,870 $ (37 ) $ 1,564 $ 14,397 Funds 11,901 (9,969 ) 1,017 2,949 Total 24,771 (10,006 ) 2,581 17,346 Straight - Line Rent Reserves Core 8,413 (86 ) 509 8,836 Funds 13,660 (11,184 ) 1,263 3,739 Total 22,073 (11,270 ) 1,772 12,575 Rent Abatements Core 1,616 — 868 2,484 Funds 419 (381 ) 56 94 Total 2,035 (381 ) 924 2,578 Impairment charges Core 419 — — 419 Funds 85,179 (65,004 ) — 20,175 Total 85,598 (65,004 ) — 20,594 COVID Earnings Impact Core 23,318 (123 ) 2,941 26,136 Funds 111,159 (86,538 ) 2,336 26,957 Total $ 134,477 $ (86,661 ) $ 5,277 $ 53,093

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 Land $ 776,275 $ 756,297 Buildings and improvements 2,848,781 2,740,479 Tenant improvements 191,046 173,686 Construction in progress 5,751 13,617 Right-of-use assets - finance leases (Note 11) 25,086 102,055 Total 3,846,939 3,786,134 Less: Accumulated depreciation and amortization (586,800 ) (490,227 ) Operating real estate, net 3,260,139 3,295,907 Real estate under development 247,349 253,402 Net investments in real estate $ 3,507,488 $ 3,549,309
Schedule of Business Acquisitions, by Acquisition	During the years ended December 31, 2020 and 2019, the Company acquired the following consolidated retail properties and other real estate investments (dollars in thousands): Property and Location Percent Acquired Date of Acquisition Purchase Price 2020 Acquisitions and Conversions Core Soho Acquisitions - 37 Greene Street - New York, NY 100% Jan 9, 2020 $ 15,689 917 W. Armitage - Chicago, IL 100% Feb 13, 2020 3,515 Town Center - Wilmington, DE (Conversion) (Note 4) 100% Apr 1, 2020 138,939 Subtotal Core 158,143 Fund IV 230-240 W. Broughton Street - Savannah, GA 100% May 26, 2020 13,219 102 E. Broughton Street - Savannah, GA 100% May 26, 2020 790 Subtotal Fund IV 14,009 Total 2020 Acquisitions and Conversions $ 172,152 2019 Acquisitions Core Soho Acquisitions - 41, 45, 47, 51 and 53 Greene Street - New York, NY 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
Schedule of Purchase Price Allocations	The following table summarizes the allocation of the purchase price of properties acquired during the years ended December 31, 2020 and 2019 (in thousands): Year Ended December 31, 2020 Year Ended December 31, 2019 Net Assets Acquired Land $ 25,440 $ 78,263 Buildings and improvements 123,459 221,185 Accounts receivable, prepaids and other assets 5,770 — Acquisition-related intangible assets ( Note 6 ) 23,061 34,972 Right-of-use asset - Operating lease (Note 11) 234 — Acquisition-related intangible liabilities ( Note 6 ) (4,569 ) (10,081 ) Lease liability - Operating lease (Note 11) (234 ) — Accounts payable and other liabilities (1,009 ) — Net assets acquired $ 172,152 $ 324,339 Consideration Cash $ 21,208 $ 319,673 Conversion of note receivable 38,674 — Conversion of accrued interest 1,995 — Liabilities assumed 116 4,666 Existing interest in previously unconsolidated investment 109,571 — Acquisition of noncontrolling interests 588 — Total consideration $ 172,152 $ 324,339
Schedule of Property Dispositions	During the years ended December 31, 2020 and 2019, the Company disposed of the following consolidated properties and other real estate investments (in thousands): Property and Location Owner Date Sold Sale Price Gain (Loss) on Sale 2020 Dispositions 163 Highland Ave. (Easement) - Needham, MA Core Mar 19, 2020 $ 238 $ 88 Colonie Plaza - Albany, NY Fund IV Apr 13, 2020 15,250 485 Airport Mall (Parcel) - Bangor, ME Fund IV Sep 10, 2020 400 24 Cortlandt Crossing (Sewer Project and Retention Pond) - Cortlandt, NY Fund III Nov 30, 2020 6,325 — Union Township (Parcel) - New Castle, PA Core Dec 11, 2020 200 86 Total 2020 Dispositions $ 22,413 $ 683 2019 Dispositions 3104 M Street - Washington, DC (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
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, 2020, 2019 and 2018 were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Revenues $ 724 $ 9,786 $ 14,010 Expenses (1,018 ) (8,561 ) (11,946 ) Gain on disposition of properties 683 30,324 5,140 Net income attributable to noncontrolling interests (127 ) (10,770 ) (5,131 ) Net income attributable to Acadia $ 262 $ 20,779 $ 2,073
Schedule Of Development In Process Activities	Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands): January 1, 2020 Year Ended December 31, 2020 December 31, 2020 Number of Properties Carrying Value Transfers In Capitalized Costs Transfers Out Number of Properties Carrying Value Core — $ 60,863 $ — $ 3,012 $ — — $ 63,875 Fund II (a) — 10,703 66,812 3,612 6,470 — 74,657 Fund III 1 36,240 — 70 13,171 1 23,139 Fund IV (b) 2 145,596 — 1,368 61,286 2 85,678 Total 3 $ 253,402 $ 66,812 $ 8,062 $ 80,927 3 $ 247,349 (a) Transfers in include $33.8 million of non-cash Fund II additions obtained through the conversion of a note receivable ( Note 3 ). (b) Transfers out include impairment charges totaling $16.5 million on two Fund IV development properties ( Note 8 ). January 1, 2019 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

Notes Receivable, Net (Tables)

Notes Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Accounts And Notes Receivable Net [Abstract]
Schedule of Notes Receivable	The Company’s notes receivable, net are generally collateralized either by the underlying properties or the borrowers’ ownership interests in the entities that own the properties, and were as follows (dollars in thousands): December 31, December 31, December 31, 2020 Description 2020 2019 Number Maturity Date Interest Rate Core Portfolio (a) $ 96,794 $ 76,467 6 Apr 2020 - Dec 2027 2.81% - 9.00% Fund II — 33,170 — Dec 2020 1.75% Fund III 5,306 5,306 1 Jul 2020 18.00% Total notes receivable 102,100 114,943 Allowance for credit loss (650 ) — Notes receivable, net $ 101,450 $ 114,943 7 (a) Includes two notes receivable from OP Unit holders, with balances totaling $6.5 million at December 31, 2020 and 2019.

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Affiliates (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2020 2019 Core: 840 N. Michigan (a) 88.43% $ 55,863 $ 61,260 Renaissance Portfolio 20% 29,270 31,815 Gotham Plaza 49% 28,683 29,466 Town Center (a, b) 100% — 97,674 Georgetown Portfolio 50% 4,624 4,498 1238 Wisconsin Avenue 80% 2,571 1,194 121,011 225,907 Mervyns I & II: KLA/ABS (c) 36.7% 72,391 402 Fund III: Fund III Other Portfolio 94.23% — 17 Self Storage Management (d) 95% 207 207 207 224 Fund IV: Broughton Street Portfolio (e) 100% — 12,702 Fund IV Other Portfolio 98.57% 11,719 14,733 650 Bald Hill Road 90% 12,550 12,450 24,269 39,885 Fund V: Family Center at Riverdale (a) 89.42% 11,824 13,329 Tri-City Plaza (h) 90% 7,024 10,250 Frederick County Acquisitions 90% 10,837 15,070 29,685 38,649 Various: Due from (to) Related Parties 363 (1,902 ) Other (f) 1,881 1,932 Investments in and advances to unconsolidated affiliates $ 249,807 $ 305,097 Core: Crossroads (g) 49% $ 15,616 $ 15,362 Distributions in excess of income from, and investments in, unconsolidated affiliates $ 15,616 $ 15,362 (a) Represents a tenancy-in-common interest. (b) During November 2017, March 2018 and April 2020, as discussed below, the Company gradually increased its ownership to 100% and consolidated Town Center. (c) Includes an interest in Albertsons (at fair value at December 31, 2020 and at cost at December 31, 2019, as described below ( Note 8 (d) Represents a variable interest entity for which the Company was determined not to be the primary beneficiary. (e) During May 2020, as discussed below, the Company increased its ownership in Broughton Street Portfolio to 100% and consolidated the underlying properties. (f) Includes cost-method investments in, Storage Post, Fifth Wall 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 Operations, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates (in thousands): December 31, 2020 December 31, 2019 Combined and Condensed Balance Sheets Assets: Rental property, net $ 563,997 $ 656,265 Real estate under development 14,517 1,341 Other assets 61,969 85,540 Total assets $ 640,483 $ 743,146 Liabilities and partners’ equity: Mortgage notes payable $ 512,490 $ 502,036 Other liabilities 74,872 77,785 Partners’ equity 53,121 163,325 Total liabilities and partners’ equity $ 640,483 $ 743,146 Company's share of accumulated equity $ 100,767 $ 186,864 Basis differential 55,017 100,962 Deferred fees, net of portion related to the Company's interest 3,565 1,270 Amounts receivable/payable by the Company 363 (1,902 ) Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates 159,712 287,194 Cost method investments 74,479 2,541 Company's share of distributions in excess of income from and investments in unconsolidated affiliates 15,616 15,362 Investments in and advances to unconsolidated affiliates $ 249,807 $ 305,097
Schedule of Condensed Income Statement	Year Ended December 31, 2020 2019 2018 Combined and Condensed Statements of Operations Total revenues $ 73,478 $ 88,893 $ 79,555 Operating and other expenses (26,389 ) (24,932 ) (22,957 ) Interest expense (20,172 ) (21,874 ) (19,954 ) Depreciation and amortization (28,102 ) (25,358 ) (22,228 ) Loss on disposition of properties — — (1,673 ) Net (loss) income attributable to unconsolidated affiliates $ (1,185 ) $ 16,729 $ 12,743 Company’s share of equity in net (loss) income of unconsolidated affiliates $ 965 $ 11,772 $ 12,345 Basis differential amortization (2,202 ) (2,850 ) (3,043 ) Company’s equity in (losses) earnings of unconsolidated affiliates $ (1,237 ) $ 8,922 $ 9,302

Other Assets, Net and Account_2

Other Assets, Net and Accounts Payable and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 Other Assets, Net: Lease intangibles, net ( Note 6 ) $ 100,732 $ 116,820 Deferred charges, net (a) 30,488 28,746 Prepaid expenses 17,468 18,873 Accrued interest receivable 13,917 9,872 Due from seller 3,682 3,682 Income taxes receivable 2,433 1,755 Other receivables 2,058 3,996 Deposits 1,728 1,853 Corporate assets, net 1,302 1,565 Derivative financial instruments ( Note 8 ) 1 2,583 Deferred tax assets — 913 $ 173,809 $ 190,658 (a) Deferred Charges, Net: Deferred leasing and other costs $ 57,533 $ 49,081 Deferred financing costs related to line of credit 11,341 10,051 68,874 59,132 Accumulated amortization (38,386 ) (30,386 ) Deferred charges, net $ 30,488 $ 28,746 Accounts Payable and Other Liabilities: Derivative financial instruments ( Note 8 ) $ 90,139 $ 39,061 Lease intangibles, net ( Note 6 ) 76,434 82,926 Accounts payable and accrued expenses 53,031 68,838 Deferred income 31,842 33,682 Tenant security deposits, escrow and other 12,178 12,590 Lease liability - finance leases, net ( Note 11 6,287 77,657 $ 269,911 $ 314,754

Lease Intangibles (Tables)

Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities Included in Other Assets and Accounts Payable and Other Liabilities	Intangible assets and liabilities are included in Other assets and Accounts payable and other liabilities ( Note 5 ) on the consolidated balance sheet and summarized as follows (in thousands): December 31, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease intangible assets $ 268,335 $ (171,856 ) $ 96,479 $ 249,961 $ (137,108 ) $ 112,853 Above-market rent 19,188 (14,935 ) 4,253 17,227 (13,260 ) 3,967 $ 287,523 $ (186,791 ) $ 100,732 $ 267,188 $ (150,368 ) $ 116,820 Amortizable Intangible Liabilities Below-market rent $ (164,923 ) $ 88,951 $ (75,972 ) $ (160,721 ) $ 78,315 $ (82,406 ) Above-market ground lease (671 ) 209 (462 ) (671 ) 151 (520 ) $ (165,594 ) $ 89,160 $ (76,434 ) $ (161,392 ) $ 78,466 $ (82,926 )
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, 2020 is as follows (in thousands): Years Ending December 31, Net Increase in Lease Revenues Increase to Amortization Reduction of Rent Expense Net (Expense) Income 2021 $ 6,920 $ (24,599 ) $ 58 $ (17,621 ) 2022 6,251 (18,089 ) 58 (11,780 ) 2023 5,784 (13,428 ) 58 (7,586 ) 2024 5,433 (9,486 ) 58 (3,995 ) 2025 4,767 (8,376 ) 58 (3,551 ) Thereafter 42,564 (22,501 ) 172 20,235 Total $ 71,719 $ (96,479 ) $ 462 $ (24,298 )

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 December 31, 2020 2020 2019 Mortgages Payable Core Fixed Rate 3.88%-5.89% 3.88%-6.00% Feb 2024 - Apr 2035 $ 147,810 $ 176,176 Core Variable Rate - Swapped (a) 3.41%-4.54% 3.41%-4.54% Jan 2023 - Nov 2028 80,500 81,559 Total Core Mortgages Payable 228,310 257,735 Fund II Fixed Rate — 4.75% — 200,000 Fund II Variable Rate LIBOR+3.00% - PRIME+2.00% LIBOR+3.00% Mar 2022 - May 2022 228,282 24,225 Fund II Variable Rate - Swapped (a) 2.88% 2.88% Nov 2021 18,803 19,073 Total Fund II Mortgages Payable 247,085 243,298 Fund III Variable Rate LIBOR+2.75%-LIBOR+3.10% LIBOR+2.75%-LIBOR+3.10% Jun 2021 - Jul 2022 71,918 74,554 Fund IV Fixed Rate 3.40%-4.50% 3.40%-4.50% Oct 2025 - Jun 2026 6,726 8,189 Fund IV Variable Rate LIBOR+1.60%-LIBOR+3.40% LIBOR+1.60%-LIBOR+3.40% Feb 2021 - Oct 2025 175,009 157,015 Fund IV Variable Rate - Swapped (a) 3.48%-4.61% 3.48%-4.61% Apr 2022 - Dec 2022 66,590 102,699 Total Fund IV Mortgages Payable 248,325 267,903 Fund V Variable Rate LIBOR+1.50%-LIBOR+2.20% LIBOR+1.50%-LIBOR+2.20% Feb 2021 - Dec 2024 1,354 1,387 Fund V Variable Rate - Swapped (a) 2.95%-4.78% 2.95%-4.78% Feb 2021 - Dec 2024 334,323 334,626 Total Fund V Mortgage Payable 335,677 336,013 Net unamortized debt issuance costs (6,507 ) (10,078 ) Unamortized premium 548 651 Total Mortgages Payable $ 1,125,356 $ 1,170,076 Unsecured Notes Payable Core Variable Rate Unsecured Term Loans LIBOR+2.55% — Jun 2021 $ 30,000 $ — Core Variable Rate Unsecured Term Loans - Swapped (a) 2.49%-5.02% 2.49%-5.02% Mar 2023 350,000 350,000 Total Core Unsecured Notes Payable 380,000 350,000 Fund II Unsecured Notes Payable LIBOR+1.65% LIBOR+1.65% Sep 2021 40,000 40,000 Fund IV Term Loan/Subscription Facility LIBOR+1.90%-LIBOR+2.00% LIBOR+1.65%-LIBOR+2.00% Jun 2021 - Dec 2021 80,089 87,625 Fund V Subscription Facility LIBOR+1.60% — May 2021 250 — Net unamortized debt issuance costs (256 ) (305 ) Total Unsecured Notes Payable $ 500,083 $ 477,320 Unsecured Line of Credit Core Unsecured Line of Credit -Swapped (a) 2.49%-5.02% 2.49%-5.02% Mar 2022 $ 138,400 $ 60,800 Total Debt - Fixed Rate (b, c ) $ 1,143,152 $ 1,403,324 Total Debt - Variable Rate (d) 626,902 314,604 Total Debt 1,770,054 1,717,928 Net unamortized debt issuance costs (6,763 ) (10,383 ) Unamortized premium 548 651 Total Indebtedness $ 1,763,839 $ 1,708,196 (a) At December 31, 2020, 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 $988.6 million and $948.8 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, 2020 and 2019 includes $3.2 million and $70.2 million, respectively of Core swaps that may be used to hedge debt instruments of the Funds. (d) Includes $139.2 million and $143.3 million, respectively, of variable-rate debt that is subject to interest cap agreements.
Scheduled Principal Repayments	The scheduled principal repayments, without regard to available extension options (described further below), of the Company’s consolidated indebtedness, as of December 31, 2020 are as follows (in thousands): Year Ending December 31, 2021 $ 416,614 2022 528,008 2023 415,506 2024 212,020 2025 65,325 Thereafter 132,581 1,770,054 Unamortized premium 548 Net unamortized debt issuance costs (6,763 ) Total indebtedness $ 1,763,839

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money market funds $ — $ — $ — $ — $ — $ — Derivative financial instruments — 1 — — 2,583 — Investment in Albertsons (Note 4) 72,391 — — — — — Liabilities Derivative financial instruments — 90,139 — — 39,061 —
Schedule of Items Measured at Fair Value on Nonrecurring Basis	During 2020, the Company was impacted by the COVID-19 Pandemic ( Note 1 ), which caused the Company to reduce its holding periods and forecasted operating income at certain properties. As a result, several impairments were recorded. Impairment charges for the periods presented are as follows (in thousands): Property and Location Owner Triggering Event Level 3 Inputs Effective Date Total Acadia's Share 2020 Impairment Charges Cortlandt Crossing, Mohegan Lake, NY Fund III Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 $ 27,402 $ 6,726 654 Broadway, New York, NY Fund III Reduced holding period Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 6,398 1,570 146 Geary Street, San Francisco, CA Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 6,718 1,553 801 Madison Avenue, New York, NY Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Mar 31, 2020 11,031 2,551 717 N. Michigan Avenue, Chicago, IL Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Dec 31, 2020 17,392 4,021 110 University, New York, NY Fund IV Reduced holding period, reduced projected operating income Projections of: holding period, net operating income, cap rate, incremental costs Dec 31, 2020 16,238 3,754 Fifth Wall Investment Core Decline in fair value Projections of: reported fair value of net assets Dec 31, 2020 419 419 Total 2020 Impairment Charges $ 85,598 $ 20,594 2019 Impairment Charges 210 Bowery residential units Fund IV Reduced selling price Contract sales price Sep 30, 2019 $ 321 $ 74 210 Bowery residential units Fund IV Reduced selling price Offering price Jun 30, 2019 1,400 321 Total 2019 Impairment Charges $ 1,721 $ 395
Schedule of Derivative Financial Instruments	The Company had the following interest rate swaps and caps for the periods presented (dollars in thousands): Strike Rate Fair Value Derivative Instrument Aggregate Notional Amount Effective Date Maturity Date Low High Balance Sheet Location December 31, 2020 December 31, 2019 Core Interest Rate Swaps $ 532,796 Dec 2012-Apr 2023 Jun 2021-Apr 2033 1.24 % — 3.77 % Other Liabilities (a) $ (74,990 ) $ (33,750 ) Interest Rate Swap 39,352 Nov 2015 Jan 2021 1.31 % — 1.31 % Other Assets — 456 $ 572,148 $ (74,990 ) $ (33,294 ) Fund II Interest Rate Swap $ 18,803 Oct 2014 Nov 2021 2.88 % — 2.88 % Other Liabilities $ (219 ) $ (139 ) Interest Rate Cap 45,000 Mar 2019 Mar 2022 3.50 % — 3.50 % Other Assets — 1 $ 63,803 $ (219 ) $ (138 ) Fund III Interest Rate Caps $ 39,470 Jan 2020 -Jan 2021 Jan 2021-Jul 2022 3.00 % — 3.00 % Other Assets (b) $ — $ — Fund IV Interest Rate Swaps $ — — — — — — Other Assets $ — $ 22 Interest Rate Swaps 66,590 Mar 2017 - Dec 2019 Apr 2022 - Dec 2022 1.48 % — 4.00 % Other Liabilities (1,713 ) (812 ) Interest Rate Caps 77,400 July 2019 - Dec 2020 Jul 2021 - Dec 2022 3.00 % — 3.50 % Other Assets 1 — $ 143,990 $ (1,712 ) $ (790 ) Fund V Interest Rate Swaps $ — — — — — — Other Assets $ — $ 2,104 Interest Rate Swaps 334,323 Jan 2018-Nov 2019 Feb 2021-Oct 2024 1.25 % — 2.88 % Other Liabilities (13,217 ) (4,360 ) $ 334,323 $ (13,217 ) $ (2,256 ) Total asset derivatives $ 1 $ 2,583 Total liability derivatives $ (90,139 ) $ (39,061 ) (a) Includes one swap with an aggregate value of ($1.8) million (b) Includes one cap with an aggregate fair value of zero at December 31, 2020, which was acquired during November 2020 with a notional value of zero and is not effective until January 2021.
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, 2020 December 31, 2019 Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Notes Receivable (a) 3 $ 101,450 $ 102,135 $ 114,943 $ 113,422 Mortgage and Other Notes Payable (a) 3 1,131,315 1,111,354 1,179,503 1,191,281 Investment in non-traded equity securities (b) 3 1,726 1,456 1,778 57,964 Unsecured notes payable and Unsecured line of credit (c) 2 638,739 623,392 538,425 539,362 (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 the Operating Partnership’s cost-method investment in Fifth Wall ( Note 4 ). Fair value as of December 31, 2019 also represents Mervyns II’s cost-method Investment in Albertsons, which is carried at fair value at December 31, 2020 and, therefore, is no longer reflected in the table above. (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 Loss (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Schedule of Dividends Declared and Paid	The following table sets forth the distributions declared and/or paid during the periods presented: Date Declared Amount Per Share Record Date Payment Date November 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 February 26, 2020 $ 0.29 March 31, 2020 April 15, 2020
Summary of Activity in Accumulated Other Comprehensive Loss	The following tables set forth the activity in accumulated other comprehensive loss for the years ended December 31, 2020, 2019 and 2018 (in thousands): Gains or Losses on Derivative Instruments Balance at January 1, 2020 $ (31,175 ) Other comprehensive loss before reclassifications - swap agreements (74,236 ) Reclassification of realized interest on swap agreements 15,203 Net current period other comprehensive loss (59,033 ) Net current period other comprehensive loss attributable to noncontrolling interests 15,317 Balance at December 31, 2020 $ (74,891 ) Balance at January 1, 2019 $ 516 Other comprehensive loss before reclassifications - swap agreements (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 income attributable to noncontrolling interests 490 Balance at December 31, 2018 $ 516
Summary of Change in Noncontrolling Interest	The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands): Noncontrolling Interests in Operating Partnership (a) Noncontrolling Interests in Partially-Owned Affiliates (b) Total Balance at January 1, 2020 $ 97,670 $ 546,987 $ 644,657 Distributions declared of $0.29 per Common OP Unit (2,218 ) — (2,218 ) Net income (loss) for the year ended December 31, 2020 125 (57,404 ) (57,279 ) Conversion of 407,594 Common OP Units to Common Shares by limited partners of the Operating Partnership (6,544 ) — (6,544 ) Other comprehensive loss - unrealized loss on valuation of swap agreements (2,709 ) (18,246 ) (20,955 ) Cumulative effect of change in accounting principle (Note 1) — (11 ) (11 ) Acquisition of noncontrolling interest (Note 7) — 15,918 15,918 Reclassification of realized interest expense on swap agreements 174 5,464 5,638 Noncontrolling interest contributions — 52,674 52,674 Noncontrolling interest distributions — (27,574 ) (27,574 ) Employee Long-term Incentive Plan Unit Awards 10,130 — 10,130 Reallocation of noncontrolling interests (c) (7,197 ) — (7,197 ) Balance at December 31, 2020 $ 89,431 $ 517,808 $ 607,239 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 income - 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 loss - unrealized loss 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 Rebalancing adjustment (c) (4,556 ) — (4,556 ) Balance at December 31, 2018 $ 104,223 $ 518,219 $ 622,442 (a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,101,958, 3,250,603 and 3,329,640 Common OP Units at December 31, 2020, 2019 and 2018, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2020, 2019 and 2018; (iii) 126,593 Series C Preferred OP Units at December 31, 2020, and 136,593 at December 31, 2019 and 2018; and (iv) 2,886,207, 2,673,484 and 2,569,044 LTIP units at December 31, 2020, 2019 and 2018, 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 five 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, 2020
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, 2020 Year Ended December 31, 2019 Amounts recorded upon acquisition of leasehold interests: 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, 2020 2019 Lease Cost Finance lease cost: Amortization of right-of-use assets $ 1,595 $ 1,603 Interest on lease liabilities 1,635 2,755 Subtotal 3,230 4,358 Operating lease cost 7,661 3,037 Variable lease cost 143 119 Total lease cost $ 11,034 $ 7,514 Other Information Weighted-average remaining lease term - finance leases (years) 33.4 42.5 Weighted-average remaining lease term - operating leases (years) 26.4 34.1 Weighted-average discount rate - finance leases 6.2 % 4.5 % Weighted-average discount rate - operating leases 5.6 % 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, 2020, are summarized as follows (in thousands): Minimum Rental Payments Year Ending December 31, Minimum Rental Revenues (a) Operating Leases (b) Finance Leases (b) 2021 $ 206,451 $ 8,531 $ 134 2022 196,633 7,779 95 2023 174,947 7,801 69 2024 149,532 7,983 47 2025 119,738 8,020 — Thereafter 525,288 150,435 12,289 Total $ 1,372,589 $ 190,549 $ 12,634 (a) Amount represents contractual lease maturities at December 31, 2020 including any extension options that management determined were reasonably certain of exercise. During the end of March 2020, numerous tenants were forced to suspend operations by government mandate as a result of the COVID-19 Pandemic. The Company has negotiated payment agreements with selected tenants which resulted in rent concessions or deferral of rents as discussed further in Note 1 . (b) Minimum rental payments include $101.8 million of interest related to operating leases and $6.4 million related to finance leases and exclude options or renewals not reasonably certain of exercise.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 Core Portfolio Funds Structured Financing Unallocated Total Revenues $ 160,262 $ 95,222 $ — $ — $ 255,484 Depreciation and amortization (76,125 ) (73,668 ) — — (149,793 ) Property operating expenses, other operating and real estate taxes (57,246 ) (42,854 ) — — (100,100 ) General and administrative expenses — — — (36,055 ) (36,055 ) Impairment charges (419 ) (85,179 ) — — (85,598 ) Gain on disposition of properties 174 509 — — 683 Operating income (loss) 26,646 (105,970 ) — (36,055 ) (115,379 ) Interest income — — 8,979 — 8,979 Equity in losses of unconsolidated affiliates inclusive of gains on disposition of properties (874 ) (363 ) — — (1,237 ) Interest expense (33,185 ) (38,875 ) — — (72,060 ) Realized and unrealized holding gains on investments and other 18,564 95,366 — — 113,930 Income tax provision — — — (271 ) (271 ) Net income (loss) 11,151 (49,842 ) 8,979 (36,326 ) (66,038 ) Net (income) loss attributable to noncontrolling interests (5,837 ) 63,116 — — 57,279 Net income (loss) attributable to Acadia (a) $ 5,314 $ 13,274 $ 8,979 $ (36,326 ) $ (8,759 ) Real estate at cost (b) $ 2,330,116 $ 1,764,172 $ — $ — $ 4,094,288 Total Assets (b) $ 2,254,680 $ 1,830,752 $ 101,450 $ — $ 4,186,882 Cash paid for acquisition of real estate and leasehold interest $ 19,963 $ 1,245 $ — $ — $ 21,208 Cash paid for development and property improvement costs $ 11,170 $ 29,313 $ — $ — $ 40,483 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 charges — (1,721 ) — — (1,721 ) Gain on disposition of properties 16,771 13,553 — — 30,324 Operating income (loss) 81,097 26,922 — (35,416 ) 72,603 Interest income — — 7,988 — 7,988 Equity in earnings (loss) of unconsolidated affiliates inclusive of gains on disposition of properties 9,020 (98 ) — — 8,922 Interest expense (28,304 ) (45,484 ) — — (73,788 ) Realized and unrealized holding (losses) gains on investments and other 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) $ 2,252,230 $ 1,787,306 $ — $ — $ 4,039,536 Total Assets (b) $ 2,350,833 $ 1,843,338 $ 114,943 $ — $ 4,309,114 Cash paid for acquisition of real estate $ 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 (loss) 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 41,693 (35,345 ) 13,231 (35,277 ) (15,698 ) Net loss 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 $ 2,069,439 $ 1,628,366 $ — $ — $ 3,697,805 Total assets $ 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 (a) Net income attributable to Acadia for the Core segment includes $2.2 million, $4.7 million and $4.1 million associated with one property, Town Center, for the years ended December 31, 2020, 2019 and 2018, 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. In April 2020, the Town Center venture was consolidated ( Note 4 ). (b) Real estate at cost and total assets for the Funds segment include $641.7 million and $603.3 million, or $186.5 million and $174.7 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2020 and 2019, respectively.

Share Incentive and Other Com_2

Share Incentive and Other Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Unvested Restricted Shares and LTIP Units	A summary of the status of the Company’s unvested Restricted Shares and LTIP Units is presented below: Unvested Restricted Shares and LTIP Units Common Restricted Shares Weighted Grant-Date Fair Value LTIP Units Weighted Grant-Date Fair Value Unvested at January 1, 2018 41,327 $ 26.92 910,099 $ 28.28 Granted 22,817 23.65 425,880 26.80 Vested (25,261 ) 30.79 (431,827 ) 29.72 Forfeited (428 ) 27.25 (12,266 ) 28.57 Unvested at December 31, 2018 38,455 $ 22.44 891,886 $ 26.87 Granted 25,359 28.56 350,726 32.75 Vested (21,424 ) 27.12 (290,753 ) 29.30 Forfeited — — (15,679 ) 31.49 Unvested at December 31, 2019 42,390 23.73 936,180 28.24 Granted 66,824 13.70 440,829 19.64 Vested (19,264 ) 27.72 (250,241 ) 30.44 Forfeited (39 ) 24.77 (3,879 ) 24.67 Unvested at December 31, 2020 89,911 $ 15.42 1,122,889 $ 24.38

Federal Income Taxes (Tables)

Federal Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 2018 Net income attributable to Acadia $ (8,759 ) $ 53,045 $ 31,439 Deferred cancellation of indebtedness income — — 2,050 Deferred rental and other income (a) (2,498 ) 1,203 1,222 Book/tax difference - depreciation and amortization (a) 27,052 21,688 23,166 Straight-line rent and above- and below-market rent adjustments (a) 8,630 (10,949 ) (12,129 ) Book/tax differences - equity-based compensation 6,825 7,177 6,042 Joint venture equity in earnings, net (a) (163 ) 15,571 13,905 Impairment charges and reserves 18,734 — — Acquisition costs (a) 14 63 326 Gain on disposition of properties 4,936 2,375 — Book/tax differences - miscellaneous (253 ) (1,473 ) (2,821 ) Taxable income $ 54,518 $ 88,700 $ 63,200 Distributions declared (b) $ 24,937 $ 96,310 $ 89,122 (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.” (b) The entire fourth quarter
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, 2020 2019 2018 Per Share % Per Share % Per Share % Ordinary income - Non-Section 199A $ — — % $ — — % — — % Ordinary income - Section 199A 0.520 90 % 0.820 77 % 0.870 100 % Qualified dividend — — % — — % — — % Capital gain 0.060 10 % 0.240 23 % — — % Total (b) $ 0.580 100 % $ 1.060 100 % 0.870 100 % (c) 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, 2020 2019 2018 TRS loss before income taxes $ (3,856 ) $ (3,117 ) $ (2,609 ) (Provision) benefit for income taxes: Federal 376 754 (377 ) State and local (268 ) 317 26 TRS net loss before noncontrolling interests (3,748 ) (2,046 ) (2,960 ) Noncontrolling interests 746 (369 ) 4 TRS net loss $ (3,002 ) $ (2,415 ) $ (2,956 )
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, 2020 2019 2018 Federal tax benefit at statutory tax rate $ (810 ) $ (655 ) $ (548 ) TRS state and local taxes, net of Federal benefit (244 ) (197 ) (165 ) Tax effect of: Permanent differences, net 227 239 951 Prior year over-accrual, net — — — Effect of Tax Cuts and Jobs Act — — — Adjustment to deferred tax reserve 851 1,748 (1,530 ) Other (131 ) (112 ) 1,702 REIT state and local income and franchise taxes 378 445 524 Total provision for income taxes $ 271 $ 1,468 $ 934

(Loss) Earnings Per Common Sh_2

(Loss) Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Year Ended December 31, (dollars in thousands) 2020 2019 2018 Numerator: Net (loss) income attributable to Acadia $ (8,759 ) $ 53,045 $ 31,439 Less: net income attributable to participating securities (233 ) (413 ) (267 ) (Loss) income from continuing operations net of income attributable to participating securities $ (8,992 ) $ 52,632 $ 31,172 Denominator: Weighted average shares for basic earnings per share 86,441,922 84,435,826 82,080,159 Effect of dilutive securities: Employee unvested restricted shares — — — Denominator for diluted earnings per share 86,441,922 84,435,826 82,080,159 Basic (loss) income and diluted earnings per Common Share from continuing operations attributable to Acadia $ (0.10 ) $ 0.62 $ 0.38 Anti-Dilutive Shares Excluded from Denominator: Series A Preferred OP Units 188 188 188 Series A Preferred OP Units - Common share equivalent 25,067 25,067 25,067 Series C Preferred OP Units 126,593 136,593 136,593 Series C Preferred OP Units - Common share equivalent 439,556 474,278 474,278 Restricted shares 76,394 40,821 36,879

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Schedule of Tenant Operating Status	Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated annualized base rents (“ABR”) derived from stores which were open or partially open for business as of the dates indicated: Percentage of Tenants Open for Business as of June 30, 2020 September 30, 2020 December 31 , 2020 Core 74 % 86 % 88 % Fund 74 % 88 % 82 % • Tenant Operating Status (Unaudited) – The following table illustrates the percentage of the Company’s consolidated and unconsolidated ABR derived from stores which were open or partially open for business as of the dates indicated: Percentage of Tenants Open for Business as of June 30, 2020 September 30, 2020 December 31, 2020 January 31, 2021 Core 74 % 86 % 88 % 89 % Fund 74 % 88 % 82 % 85 %
Schedule of Rent Collections	Rent Collections – The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown: Collections as of: September 30, 2020 for December 31, 2020 for Second Quarter 2020 Third Quarter 2020 Second Quarter 2020 Third Quarter 2020 Fourth Quarter 2020 Core 74 % 85 % 76 % 87 % 91 % Fund 65 % 77 % 67 % 79 % 82 % • Rent Collections – The following table depicts collections of pre-COVID billings (original contract rents without regard to deferral or abatement agreements) and excludes the impact of any security deposits applied against tenant accounts as of the dates shown (Fund collections rates exclude data for non-managed properties): Collections as of: September 30, 2020 for December 31, 2020 for January 31, 2021 for Second Quarter 2020 Third Quarter 2020 Second Quarter 2020 Third Quarter 2020 Fourth Quarter 2020 Fourth Quarter 2020 (Unaudited) Core 74 % 85 % 76 % 87 % 91 % 92 % Fund 65 % 77 % 67 % 79 % 82 % 84 %

Organization, Basis of Presen_4

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)propertyPortfolioTenant$ / shares	Sep. 30, 2020	Dec. 31, 2020USD ($)propertyAgreementStoresegment$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Limited partnership to common stock conversion ratio			100.00%
Common shares of beneficial interest, par value | $ / shares	$ 0.001		$ 0.001	$ 0.001
Number of retail properties | property	187		187
Number of sores having bankruptcies, in core portfolio | Store			4
Core portfolio annualized base rents for stores of bankruptcies			$ 1,200,000
Core portfolio annualized base rents for stores of bankruptcies percentage			0.90%
Number of sores having bankruptcies, in fund portfolio | Store			6
Fund portfolio annualized base rents for stores of bankruptcies			$ 100,000
Fund portfolio annualized base rents for stores of bankruptcies percentage			0.70%
Number of core portfolio | Portfolio	5
Number of fund tenants | Tenant	11
Number of reportable segments | segment			3
Amount of goodwill recorded and acquisition costs capitalized			$ 0
Deferred Rent Receivables, Net	$ 41,400,000		41,400,000	$ 48,400,000
Allowance for doubtful accounts receivable	45,400,000		45,400,000	11,400,000
Allowance for doubtful accounts receivable adjustments.			46,800,000	4,400,000	$ 2,500,000
Net operating losses carried back, CARES Act			3,100,000
Tax refund on net operating loss carried back, CARES Act			1,000,000
Distributions in excess of accumulated earnings	(167,046,000)		(167,046,000)	$ (132,961,000)
Credit loss allowance	$ 300,000		$ 300,000
ASU 2016-13
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Change in accounting principle, adopted	true		true
Change in accounting principle, adoption date	Jan. 1, 2020		Jan. 1, 2020
ASU 2018-19
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Change in accounting principle, adopted	true		true
Change in accounting principle, adoption date	Jan. 1, 2020		Jan. 1, 2020
Change in accounting principle, immaterial effect	true		true
ASU 2019-04
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Change in accounting principle, adopted	true		true
Change in accounting principle, adoption date	Jan. 1, 2020		Jan. 1, 2020
Change in accounting principle, immaterial effect	true		true
ASU 2018-13
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Change in accounting principle, adopted	true		true
Change in accounting principle, adoption date	Jan. 1, 2020		Jan. 1, 2020
Change in accounting principle, immaterial effect	true		true
ASU 2020-03
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Change in accounting principle, adopted	true		true
Change in accounting principle, adoption date	Jan. 1, 2020		Jan. 1, 2020
Change in accounting principle, immaterial effect	true		true
REIT
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of distribute taxable income			90.00%
Percentage of taxable income.			100.00%
Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of taxable income offset by net operating loss carryforwards			80.00%
Buildings
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life			40 years
Building Improvements
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life			15 years
Furniture and fixtures | Minimum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life			5 years
Furniture and fixtures | Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property, plant and equipment, useful life			10 years
SBA Paycheck Protection Program
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Borrowings, amount	$ 0		$ 0
COVID-19
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of rent concession agreements | Agreement			288
Number of rent concession agreements for rent deferral | Agreement			226
Number of rent concession agreements for rent abatements | Agreement			60
Number of rent concession agreements accounted as no change in contract | Agreement			217
Allowance for doubtful accounts	2,400,000		$ 2,400,000
Deferred receivables	$ 10,700,000		$ 10,700,000
Pro rata core leased occupancy rate percentage		91.10%	90.90%
Pro rata fund leased occupancy rate percentage		89.80%	88.30%
Core Portfolio
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of retail properties | property	131		131
Properties owned percentage	100.00%		100.00%
Opportunity Funds
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of retail properties | property	56		56
Structured Financing | Cumulative Effect of Change in Accounting Principle | ASU 2016-13
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Distributions in excess of accumulated earnings	$ 400,000		$ 400,000
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%		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%		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
	Aug. 31, 2020	Jun. 30, 2020	Apr. 30, 2018	Dec. 31, 2020
Mervyns II
Variable Interest Entity [Line Items]
Recallable distributions	$ 15.7
Mervyns II | Acadia
Variable Interest Entity [Line Items]
Recallable distributions	$ 4.5
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				$ 369.6
Unfunded Commitment				$ 15.7
Equity interest held by Operating Partnership				28.33%
Preferred Return				8.00%
Total Distributions				$ 169.8
Fund III
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital				24.54%
Capital Called				$ 448.1
Unfunded Commitment				$ 1.9
Equity interest held by Operating Partnership				24.54%
Preferred Return				6.00%
Total Distributions				$ 568.8
Fund IV
Variable Interest Entity [Line Items]
Operating Partnership Share of Capital				23.12%
Capital Called				$ 469.5
Unfunded Commitment				$ 60.5
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				$ 217.1
Unfunded Commitment				$ 302.9
Equity interest held by Operating Partnership				20.10%
Preferred Return				6.00%
Total Distributions				$ 24.6
Fund II
Variable Interest Entity [Line Items]
Total Distributions			$ 15
Fund II | Mervyns II
Variable Interest Entity [Line Items]
Total Distributions		$ 7.5

Organization, Basis of Presen_6

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Tenant Operating Status (Details)	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
Core Portfolio
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of Tenants Open for Business	88.00%	86.00%	74.00%
Opportunity Funds
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of Tenants Open for Business	82.00%	88.00%	74.00%
COVID-19 | Core Portfolio
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of Tenants Open for Business	88.00%	86.00%	74.00%
COVID-19 | Opportunity Funds
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of Tenants Open for Business	82.00%	88.00%	74.00%

Organization, Basis of Presen_7

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Rent Collections (Details) - COVID-19	Dec. 31, 2020	Sep. 30, 2020
Core Portfolio | Second Quarter 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of rent collections	76.00%	74.00%
Core Portfolio | Third Quarter 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of rent collections	87.00%	85.00%
Core Portfolio | Fourth Quarter 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of rent collections	91.00%
Opportunity Funds | Second Quarter 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of rent collections	67.00%	65.00%
Opportunity Funds | Third Quarter 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of rent collections	79.00%	77.00%
Opportunity Funds | Fourth Quarter 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of rent collections	82.00%

Organization, Basis of Presen_8

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Earnings Impact (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Straight - Line Rent Reserves	$ 5,096	$ 5,198	$ 8,616
Impairment charges	85,598	1,721
COVID Earnings Impact	(66,038)	$ 21,204	$ (15,698)
COVID-19
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	24,771
Straight - Line Rent Reserves	22,073
Rent Abatements	2,035
Impairment charges	85,598
COVID Earnings Impact	134,477
COVID-19 | Noncontrolling Interests
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	(10,006)
Straight - Line Rent Reserves	(11,270)
Rent Abatements	(381)
Impairment charges	(65,004)
COVID Earnings Impact	(86,661)
COVID-19 | Unconsolidated
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	2,581
Straight - Line Rent Reserves	1,772
Rent Abatements	924
COVID Earnings Impact	5,277
COVID-19 | Acadia
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	17,346
Straight - Line Rent Reserves	12,575
Rent Abatements	2,578
Impairment charges	20,594
COVID Earnings Impact	53,093
Core Portfolio | COVID-19
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	12,870
Straight - Line Rent Reserves	8,413
Rent Abatements	1,616
Impairment charges	419
COVID Earnings Impact	23,318
Core Portfolio | COVID-19 | Noncontrolling Interests
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	(37)
Straight - Line Rent Reserves	(86)
COVID Earnings Impact	(123)
Core Portfolio | COVID-19 | Unconsolidated
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	1,564
Straight - Line Rent Reserves	509
Rent Abatements	868
COVID Earnings Impact	2,941
Core Portfolio | COVID-19 | Acadia
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	14,397
Straight - Line Rent Reserves	8,836
Rent Abatements	2,484
Impairment charges	419
COVID Earnings Impact	26,136
Opportunity Funds | COVID-19
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	11,901
Straight - Line Rent Reserves	13,660
Rent Abatements	419
Impairment charges	85,179
COVID Earnings Impact	111,159
Opportunity Funds | COVID-19 | Noncontrolling Interests
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	(9,969)
Straight - Line Rent Reserves	(11,184)
Rent Abatements	(381)
Impairment charges	(65,004)
COVID Earnings Impact	(86,538)
Opportunity Funds | COVID-19 | Unconsolidated
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	1,017
Straight - Line Rent Reserves	1,263
Rent Abatements	56
COVID Earnings Impact	2,336
Opportunity Funds | COVID-19 | Acadia
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Credit Loss - Billed Rents	2,949
Straight - Line Rent Reserves	3,739
Rent Abatements	94
Impairment charges	20,175
COVID Earnings Impact	$ 26,957

Real Estate - Schedule of Real

Real Estate - Schedule of Real Estate (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Land	$ 776,275	$ 756,297
Buildings and improvements	2,848,781	2,740,479
Tenant improvements	191,046	173,686
Construction in progress	5,751	13,617
Right-of-use assets - finance leases	25,086	102,055
Total	3,846,939	3,786,134
Less: Accumulated depreciation and amortization	(586,800)	(490,227)
Operating real estate, net	3,260,139	3,295,907
Real estate under development	247,349	253,402	$ 120,297
Net investments in real estate	$ 3,507,488	$ 3,549,309

Real Estate - Schedule of Acqui

Real Estate - Schedule of Acquisitions and Conversions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase Price	$ 172,152	$ 324,339
Core Portfolio
Business Acquisition [Line Items]
Purchase Price	$ 158,143	$ 146,435
Core Portfolio | 917 W. Armitage - Chicago, IL
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 3,515
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 | 37 Greene Street - New York, NY
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 15,689
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 | Town Center | Wilmington, DE
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 138,939
Fund IV
Business Acquisition [Line Items]
Purchase Price	$ 14,009
Fund IV | 230-240 W. Broughton Street | GEORGIA
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 13,219
Fund IV | 102 E. Broughton Street | GEORGIA
Business Acquisition [Line Items]
Percent Acquired	100.00%
Purchase Price	$ 790
Fund V
Business Acquisition [Line Items]
Purchase Price		$ 177,904
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

Real Estate - Acquisitions and

Real Estate - Acquisitions and Conversions - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract]
Capitalized acquisition costs	$ 1,300,000	$ 2,600,000
Debt assumed	$ 0	$ 0

Real Estate - Schedule of Purch

Real Estate - Schedule of Purchase Price Allocations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Purchase Price Allocation
Land	$ 25,440	$ 78,263
Buildings and improvements	123,459	221,185
Accounts receivable, prepaids and other assets	5,770	0
Acquisition-related intangible assets	23,061	34,972
Right-of-use asset - Operating lease	234	0
Acquisition-related intangible liabilities	(4,569)	(10,081)
Lease liability - Operating lease	(234)	0
Net assets acquired	172,152	324,339
Accounts payable and other liabilities	(1,009)	0
Consideration
Cash	21,208	319,673
Conversion of note receivable	38,674	0
Conversion of accrued interest	1,995	0
Liabilities assumed	116	4,666
Existing interest in previously unconsolidated investment	109,571	0
Acquisition of noncontrolling interests	588	0
Total consideration	$ 172,152	$ 324,339

Real Estate - Schedule of Prope

Real Estate - Schedule of Property Dispositions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Sale	$ 683	$ 30,324	$ 5,140
Disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price	22,413
Gain (Loss) on Sale	683
Disposal Group, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Price		109,326
Gain (Loss) on Sale	$ 683	$ 30,324	$ 5,140
Core Portfolio | Disposed of by sale | 163 Highland Ave. (Easement) - Needham, MA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Mar. 19, 2020
Sale Price	$ 238
Gain (Loss) on Sale	$ 88
Core Portfolio | Disposed of by sale | Union Township (Parcel) - New Castle, PA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Dec. 11, 2020
Sale Price	$ 200
Gain (Loss) on Sale	$ 86
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
Fund III | Disposed of by sale | Cortlandt Crossing (Sewer Project and Retention Pond) - Cortlandt, NY
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Nov. 30, 2020
Sale Price	$ 6,325
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 IV | Disposed of by sale | Colonie Plaza - Albany, NY
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Apr. 13, 2020
Sale Price	$ 15,250
Gain (Loss) on Sale	$ 485
Fund IV | Disposed of by sale | Airport Mall (Parcel) - Bangor, ME
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date Sold	Sep. 10, 2020
Sale Price	$ 400
Gain (Loss) on Sale	$ 24
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 | 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 | 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

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, 2020	Dec. 31, 2019	Dec. 31, 2018
STATEMENTS OF INCOME
Gain on disposition of properties	$ 683	$ 30,324	$ 5,140
Disposal Group, Not Discontinued Operations
STATEMENTS OF INCOME
Revenues	724	9,786	14,010
Expenses	(1,018)	(8,561)	(11,946)
Gain on disposition of properties	683	30,324	5,140
Net income attributable to noncontrolling interests	(127)	(10,770)	(5,131)
Net income attributable to Acadia	$ 262	$ 20,779	$ 2,073

Real Estate - Schedule of Devel

Real Estate - Schedule of Development in Process Activities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Property, Plant and Equipment [Line Items]
Number of properties under development | property	3	3	3
Real estate under development, beginning balance	$ 247,349	$ 253,402	$ 120,297
Transfers In	66,812	117,344
Capitalized Costs	8,062	25,580
Transfers Out	$ 80,927	$ 9,819
Core Portfolio
Property, Plant and Equipment [Line Items]
Number of properties under development | property	0	0	1
Real estate under development, beginning balance	$ 63,875	$ 60,863	$ 7,759
Transfers In	0	57,342
Capitalized Costs	3,012	5,581
Transfers Out	$ 0	$ 9,819
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	$ 74,657	$ 10,703	$ 7,462
Transfers In	66,812	0
Capitalized Costs	3,612	3,241
Transfers Out	$ 6,470	$ 0
Fund Portfolio | Fund III
Property, Plant and Equipment [Line Items]
Number of properties under development | property	1	1	1
Real estate under development, beginning balance	$ 23,139	$ 36,240	$ 21,242
Transfers In	0	12,313
Capitalized Costs	70	2,685
Transfers Out	$ 13,171	$ 0
Fund Portfolio | Fund IV
Property, Plant and Equipment [Line Items]
Number of properties under development | property	2	2	1
Real estate under development, beginning balance	$ 85,678	$ 145,596	$ 83,834
Transfers In	0	47,689
Capitalized Costs	1,368	14,073
Transfers Out	$ 61,286	$ 0

Real Estate - Schedule of Dev_2

Real Estate - Schedule of Development in Process Activities (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Notes receivable, net	$ 101,450	$ 114,943	$ 111,775	$ 160,991
Impairment charge	72,842
Fund II
Property, Plant and Equipment [Line Items]
Notes receivable, net	33,800
Fund Portfolio | Fund IV
Property, Plant and Equipment [Line Items]
Impairment charge	$ 16,500

Real Estate - Real Estate Under

Real Estate - Real Estate Under Development and Construction in Progress - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Property, Plant and Equipment [Line Items]
Notes receivable, net | $	$ 101,450	$ 114,943	$ 111,775	$ 160,991
Impairment charge | $	72,842
Fund II
Property, Plant and Equipment [Line Items]
Notes receivable, net | $	$ 33,800
Fund IV
Property, Plant and Equipment [Line Items]
Number of projects put into service during period | property	1
Cortlandt Crossing | Fund III
Property, Plant and Equipment [Line Items]
Number of projects put into service during period | property	1
Fund Portfolio | Fund IV
Property, Plant and Equipment [Line Items]
Number of projects put into service during period | property	2
Impairment charge | $	$ 16,500
Core Portfolio
Property, Plant and Equipment [Line Items]
Number of projects put into service during period | property		1

Notes Receivable, Net - Schedul

Notes Receivable, Net - Schedule of Notes Receivable (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)NotesReceivable	Nov. 02, 2020USD ($)	Dec. 31, 2019USD ($)
Accounts Notes And Loans Receivable [Line Items]
Total notes receivable	$ 102,100		$ 114,943
Allowance for credit loss	(650)
Notes receivable, net	$ 101,450		114,943
Number | NotesReceivable	7
Core Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total notes receivable	$ 96,794		76,467
Number | NotesReceivable	6
Core Portfolio | Minimum
Accounts Notes And Loans Receivable [Line Items]
Maturity Date	2020-04
Interest Rate	2.81%
Core Portfolio | Maximum
Accounts Notes And Loans Receivable [Line Items]
Maturity Date	2027-12
Interest Rate	9.00%
Fund II
Accounts Notes And Loans Receivable [Line Items]
Total notes receivable		$ 33,800
Fund II | Fund Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total notes receivable			33,170
Maturity Date	2020-12
Interest Rate	1.75%
Fund III | Fund Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total notes receivable	$ 5,306		$ 5,306
Number | NotesReceivable	1
Maturity Date	2020-07
Interest Rate	18.00%

Notes Receivable, Net - Sched_2

Notes Receivable, Net - Schedule of Notes Receivable (Parenthetical) (Details) $ in Thousands	Dec. 31, 2020USD ($)NotesReceivable	Dec. 31, 2019USD ($)
Accounts Notes And Loans Receivable [Line Items]
Number of notes receivable | NotesReceivable	7
Notes receivable | $	$ 102,100	$ 114,943
Core Portfolio
Accounts Notes And Loans Receivable [Line Items]
Number of notes receivable | NotesReceivable	6
Notes receivable | $	$ 96,794	76,467
OP Unit Holders | Core Portfolio
Accounts Notes And Loans Receivable [Line Items]
Number of notes receivable | NotesReceivable	2
Notes receivable | $	$ 6,500	$ 6,500

Notes Receivable, Net - Additio

Notes Receivable, Net - Additional Information (Details) - USD ($)	Feb. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Nov. 02, 2020	Nov. 01, 2020	Apr. 01, 2020	Jan. 14, 2020	Mar. 28, 2018	Dec. 31, 2017	Nov. 16, 2017
Accounts Notes And Loans Receivable [Line Items]
Notes receivable		$ 102,100,000	$ 114,943,000
Note receivable accrued interest		13,917,000	9,872,000
Credit loss reserve		650,000
Notes receivable, net		101,450,000	114,943,000	$ 111,775,000						$ 160,991,000
Additional credit loss reserve		300,000
Proceeds from notes receivable			15,250,000	26,000,000
Credit loss reserves		101,450,000	114,943,000
LUF Portfolio
Accounts Notes And Loans Receivable [Line Items]
Note receivable accrued interest	$ 5,000,000
Interest Rate	8.00%
Percentage of mortgage loan collateralized	50.00%
Core Note
Accounts Notes And Loans Receivable [Line Items]
Notes receivable modified, subsequent payment default		21,600,000	$ 21,600,000
850 Third Avenue Brooklyn, NY
Accounts Notes And Loans Receivable [Line Items]
Notes receivable, net								$ 54,000,000
Interest Rate								9.00%
Pacesetter Park
Accounts Notes And Loans Receivable [Line Items]
Interest Rate			5.10%
Note receivable exchanged for sale of real estate			$ 13,500,000
Fund II
Accounts Notes And Loans Receivable [Line Items]
Notes receivable					$ 33,800,000
Note receivable accrued interest			400,000			$ 600,000
Notes receivable, net		33,800,000
Fund III
Accounts Notes And Loans Receivable [Line Items]
Note receivable accrued interest			4,700,000	$ 4,700,000
Notes receivable modified, subsequent payment default		10,000,000
Fund IV
Accounts Notes And Loans Receivable [Line Items]
Proceeds from notes receivable			15,300,000
Note receivable accrued interest			10,000,000
ASU 2016-13
Accounts Notes And Loans Receivable [Line Items]
Credit loss reserve		400,000
Core Portfolio
Accounts Notes And Loans Receivable [Line Items]
Notes receivable		96,794,000	76,467,000
Equity method investment, ownership percentage by third party									14.11%		38.89%
Notes receivable modified, subsequent payment default			20,800,000
Proceeds from notes receivable			4,300,000
Notes receivable defer interest until maturity			$ 400,000
Structured Financing
Accounts Notes And Loans Receivable [Line Items]
Note receivable accrued interest		8,700,000
Loans amortized cost		0
Credit loss reserves		38,300,000
Structured Financing | Non-Collateral Dependent Loans
Accounts Notes And Loans Receivable [Line Items]
Note receivable accrued interest		5,200,000
Credit loss reserve		700,000
Loans amortized cost		$ 77,700,000
Brandywine Portfolio | Core Portfolio
Accounts Notes And Loans Receivable [Line Items]
Notes receivable							$ 38,700,000
Note receivable accrued interest							$ 2,000,000
Equity method investment, ownership percentage by third party							24.78%

Investments in and Advances t_3

Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 28, 2018	Nov. 16, 2017
Schedule of Equity Method Investments [Line Items]
Due from (to) Related Parties	$ 363	$ (1,902)
Other	1,881	1,932
Investments in and advances to unconsolidated affiliates	249,807	305,097
Distributions in excess of income from, and investments in, unconsolidated affiliates	$ 15,616	15,362
KLA/ABS
Schedule of Equity Method Investments [Line Items]
Cost method investment, ownership percentage	36.70%
Cost Method Investment	$ 72,391	402
Fund III Other Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	94.23%
Equity method investments		17
Self Storage Management
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	95.00%
Equity method investments	$ 207	207
Fund III
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 207	224
Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	100.00%
Equity method investments		12,702
Fund IV Other Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	98.57%
Equity method investments	$ 11,719	14,733
650 Bald Hill Road
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 12,550	12,450
Fund IV
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 24,269	39,885
Fund V Family Center at Riverdale
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	89.42%
Equity method investments	$ 11,824	13,329
Tri City Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 7,024	10,250
Frederick County Acquisitions
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	90.00%
Equity method investments	$ 10,837	15,070
Fund V
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 29,685	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	$ 121,011	225,907		$ 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	$ 55,863	61,260
Core Portfolio | Renaissance Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20.00%
Equity method investments	$ 29,270	31,815
Core Portfolio | Gotham Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Equity method investments	$ 28,683	29,466
Core Portfolio | Town Center
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	100.00%
Equity method investments		97,674
Core Portfolio | Georgetown Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments	$ 4,624	4,498
Core Portfolio | 1238 Wisconsin Avenue
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	80.00%
Equity method investments	$ 2,571	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	$ 15,616	$ 15,362

Investments in and Advances t_4

Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Parenthetical) (Details)	Dec. 31, 2020	Dec. 31, 2018	Nov. 16, 2017
Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	100.00%
Core Portfolio
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	75.22%	61.11%	22.22%
Core Portfolio | Town Center
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	100.00%

Investments in and Advances t_5

Investments in and Advances to Unconsolidated Affiliates - Core Portfolio - Additional Information (Details)	Apr. 01, 2020USD ($)	Aug. 08, 2019USD ($)	Jan. 24, 2019USD ($)ft²	Mar. 28, 2018USD ($)	Nov. 16, 2017USD ($)	May 01, 2017USD ($)	Apr. 29, 2016USD ($)	Dec. 31, 2020USD ($)ft²	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Purchase Price									$ 172,152,000	$ 324,339,000
Cost method investments								$ 1,881,000	1,881,000	1,932,000
Gain (loss) on investment									113,930,000	6,947,000
Notes receivable, net								$ 101,450,000	$ 101,450,000	114,943,000	$ 111,775,000	$ 160,991,000
Acadia Brandywine Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage								22.22%	22.22%
Core Portfolio
Schedule of Equity Method Investments [Line Items]
Purchase Price									$ 158,143,000	146,435,000
Cost method investments								$ 1,700,000	1,700,000
Impairment of Investment								$ 400,000
Gain (loss) on investment									$ 0
Equity method investment, ownership percentage by third party				14.11%	38.89%
Equity method investment, ownership percentage					22.22%			75.22%	75.22%		61.11%
Equity method investments				$ 22,300,000	$ 61,600,000			$ 121,011,000	$ 121,011,000	225,907,000
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%	20.00%
Equity method investments								$ 29,270,000	$ 29,270,000	31,815,000
Core Portfolio | Fifth Wall Ventures Retail Fund, L.P.
Schedule of Equity Method Investments [Line Items]
Cost method investments		$ 1,800,000						$ 200,000	$ 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	1,000,000
Repayments of debt							$ 140,000,000
Note receivable exchanged	$ 38,700,000			22,000,000		$ 16,000,000
Notes receivable, net						153,400,000
Note receivable accrued interest	$ 2,000,000			$ 300,000		$ 300,000
Equity method investment, ownership percentage by third party	24.78%
Equity method investment, controlling interest percentage	100.00%
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 | Town Center
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage by third party	24.78%
Equity method investment, ownership percentage								100.00%	100.00%
Equity method investments										$ 97,674,000
Equity method investment, controlling interest percentage						100.00%
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			$ 4,700,000

Investments in and Advances t_6

Investments in and Advances to Unconsolidated Affiliates - Fund Investments - Additional Information (Details)	Jun. 29, 2019USD ($)	Dec. 31, 2014propertyJointVenture	Dec. 31, 2020property	Jun. 30, 2020property	May 26, 2020USD ($)property	Aug. 21, 2019USD ($)ft²	Apr. 30, 2019USD ($)ft²	Mar. 19, 2019USD ($)ft²	Oct. 31, 2018segment
Schedule of Equity Method Investments [Line Items]
Number of retail properties | property			187
Fund V Family Center at Riverdale
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			89.42%
Tri City Plaza
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			90.00%
Frederick County Acquisitions
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			90.00%
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]
Purchase Price					$ 1,300,000
Equity method investment, ownership percentage			100.00%
Number of businesses acquired | property		23
Number of retail properties | property					2
Fund I Vs Broughton Street Portfolio Venture
Schedule of Equity Method Investments [Line Items]
Number of retail properties | property		8
Fund IV | Disposed of by sale | Broughton St. Portfolio Savannah, GA
Schedule of Equity Method Investments [Line Items]
Number of retail properties | property		2
BSP I
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage									100.00%
BSP I | Consolidated Entity
Schedule of Equity Method Investments [Line Items]
Number of retail properties | segment									11
BSP II | Consolidated Affiliates
Schedule of Equity Method Investments [Line Items]
Number of retail properties | property				2
Fund III's Storage Post venture
Schedule of Equity Method Investments [Line Items]
Distribution from cost method investment	$ 1,600,000
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
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 | Frederick County Acquisitions | 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 | Frederick County Acquisitions | 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 - Mervyns I & II - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020
Mervyns II
Schedule of Equity Method Investments [Line Items]
Cost method investment, ownership percentage	28.33%		28.33%
Realized gain on investment	$ 0.4	$ 22.8
Cost method investments effective ownership, shares	4.1		4.1
Cost method investments effective ownership interest	1.00%		1.00%
Unrealized gain on investment			$ 64.9
Albertson
Schedule of Equity Method Investments [Line Items]
Cost method investment, ownership percentage	36.67%		36.67%
Albertson | Mervyns II
Schedule of Equity Method Investments [Line Items]
Unrealized gain on investment			$ 7.5

Investments in and Advances t_8

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Additional Information (Details) - Equity Method Investee - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Related party revenue	$ 0.4	$ 0.3	$ 0.5
Expenses, related party	$ 2.1	$ 1.3	$ 1.7

Investments in and Advances t_9

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Combined and Condensed Balance Sheets
Real estate under development	$ 247,349	$ 253,402
Other assets	173,809	190,658
Total assets	4,186,882	4,309,114	$ 3,958,780
Total liabilities and equity	4,186,882	4,309,114
Cost method investments	1,881	1,932
Company's share of distributions in excess of income from and investments in unconsolidated affiliates	15,616	15,362
Investments in and advances to unconsolidated affiliates	249,807	305,097
Unconsolidated Affiliates
Combined and Condensed Balance Sheets
Rental property, net	563,997	656,265
Real estate under development	14,517	1,341
Other assets	61,969	85,540
Total assets	640,483	743,146
Mortgage notes payable	512,490	502,036
Other liabilities	74,872	77,785
Partners’ equity	53,121	163,325
Total liabilities and equity	640,483	743,146
Company's share of accumulated equity	100,767	186,864
Basis differential	55,017	100,962
Deferred fees, net of portion related to the Company's interest	3,565	1,270
Amounts receivable/payable by the Company	363	(1,902)
Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income from and investments in unconsolidated affiliates	159,712	287,194
Cost method investments	74,479	2,541
Company's share of distributions in excess of income from and investments in unconsolidated affiliates	15,616	15,362
Investments in and advances to unconsolidated affiliates	$ 249,807	$ 305,097

Investments in and Advances _10

Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Combined and Condensed Statements of Operations
Total revenues	$ 255,484	$ 295,327	$ 259,681
Depreciation and amortization	(149,793)	(125,443)	(117,549)
Company’s equity in (losses) earnings of unconsolidated affiliates	(1,237)	8,922	9,302
Unconsolidated Affiliates
Combined and Condensed Statements of Operations
Total revenues	73,478	88,893	79,555
Operating and other expenses	(26,389)	(24,932)	(22,957)
Interest expense	(20,172)	(21,874)	(19,954)
Depreciation and amortization	(28,102)	(25,358)	(22,228)
Loss on disposition of properties			(1,673)
Net (loss) income attributable to unconsolidated affiliates	(1,185)	16,729	12,743
Company’s share of equity in net (loss) income of unconsolidated affiliates	965	11,772	12,345
Operating Partnership, as General Partner or Managing Member
Combined and Condensed Statements of Operations
Basis differential amortization	$ (2,202)	$ (2,850)	$ (3,043)

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, 2020	Dec. 31, 2019
Other Assets, Net:
Lease intangibles, net (Note 6)	$ 100,732	$ 116,820
Deferred charges, net	30,488	28,746
Prepaid expenses	17,468	18,873
Note receivable accrued interest	13,917	9,872
Due from seller	3,682	3,682
Income taxes receivable	2,433	1,755
Other receivables	2,058	3,996
Deposits	1,728	1,853
Corporate assets, net	1,302	1,565
Derivative financial instruments (Note 8)	1	2,583
Deferred tax assets		913
Other assets, net	173,809	190,658
Deferred Charges, Net:
Deferred leasing and other costs	57,533	49,081
Deferred financing costs related to line of credit	11,341	10,051
Deferred costs, gross	68,874	59,132
Accumulated amortization	(38,386)	(30,386)
Deferred charges, net	30,488	28,746
Accounts Payable and Other Liabilities:
Derivative financial instruments (Note 8)	$ 90,139	$ 39,061
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Lease intangibles, net (Note 6)	$ 76,434	$ 82,926
Accounts payable and accrued expenses	53,031	68,838
Deferred income	31,842	33,682
Tenant security deposits, escrow and other	12,178	12,590
Lease liability - finance leases, net (Note 11)	6,287	77,657
Accounts payable and other liabilities	$ 269,911	$ 314,754

Lease Intangibles - Schedule of

Lease Intangibles - Schedule of Intangible Assets and Liabilities Included in Other Assets and Accounts Payable and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	$ 287,523	$ 267,188
Amortizable Intangible Assets, Accumulated Amortization	(186,791)	(150,368)
Amortizable Intangible Assets, Net Carrying Amount	100,732	116,820
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Gross Carrying Amount	(164,923)	(160,721)
Amortizable Intangible Liabilities, Accumulated Amortization	88,951	78,315
Amortizable Intangible Liabilities, Net Carrying Amount	(75,972)	(82,406)
Above-market Ground Lease, Gross	(671)	(671)
Above-market Ground Lease, Accumulated Amortization	209	151
Above-market Ground Lease, Net	(462)	(520)
Finite-Lived Intangible Liabilities, Gross	(165,594)	(161,392)
Finite-Lived Intangible Liabilities, Accumulated Amortization	89,160	78,466
Finite-Lived Intangible Liabilities, Net	(76,434)	(82,926)
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	268,335	249,961
Amortizable Intangible Assets, Accumulated Amortization	(171,856)	(137,108)
Amortizable Intangible Assets, Net Carrying Amount	96,479	112,853
Amortizable Intangible Liabilities
Amortizable Intangible Liabilities, Net Carrying Amount	(71,719)
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	19,188	17,227
Amortizable Intangible Assets, Accumulated Amortization	(14,935)	(13,260)
Amortizable Intangible Assets, Net Carrying Amount	$ 4,253	$ 3,967

Lease Intangibles - Additional

Lease Intangibles - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Below market rents, acquired	$ 4.6	$ 10.4
Below market rents acquired, weighted average useful life	20 years 2 months 12 days	21 years 8 months 12 days
In-place lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 21	$ 36.1
Acquired intangible assets, weighted average useful life	4 years 10 months 24 days	7 years 10 months 24 days
Above-market rent
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 2	$ 0.6
Acquired intangible assets, weighted average useful life	5 years 9 months 18 days	6 years 8 months 12 days

Lease Intangibles - Scheduled A

Lease Intangibles - Scheduled Amortization of Acquired Lease Intangible Assets and Assumed Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Acquired Lease Intangibles [Abstract]
Net Increase In Lease Revenues, Total	$ 75,972	$ 82,406
Amortizable Intangible Assets, Net Carrying Amount	(100,732)	(116,820)
In-place lease intangible assets
Acquired Lease Intangibles [Abstract]
2021, Net Increase In Lease Revenues	6,920
2022, Net Increase In Lease Revenues	6,251
2023, Net Increase In Lease Revenues	5,784
2024, Net Increase In Lease Revenues	5,433
2025, Net Increase In Lease Revenues	4,767
Thereafter, Net Increase In Lease Revenues	42,564
Net Increase In Lease Revenues, Total	71,719
2021, Increase to Amortization	(24,599)
2022, Increase to Amortization	(18,089)
2023, Increase to Amortization	(13,428)
2024, Increase to Amortization	(9,486)
2025, Increase to Amortization	(8,376)
Thereafter, Increase to Amortization	(22,501)
Amortizable Intangible Assets, Net Carrying Amount	(96,479)	$ (112,853)
2021, Reduction of Rent Expense	58
2022, Reduction of Rent Expense	58
2023, Reduction of Rent Expense	58
2024, Reduction of Rent Expense	58
2025, Reduction of Rent Expense	58
Thereafter, Reduction of Rent Expense	172
Reduction of Rent Expense, Total	462
2021, Net Income (Expense)	(17,621)
2022, Net Income (Expense)	(11,780)
2023, Net Income (Expense)	(7,586)
2024, Net Income (Expense)	(3,995)
2025, Net Income (Expense)	(3,551)
Thereafter, Net Income (Expense)	20,235
Total, Net Income (Expense)	$ (24,298)

Debt - Summary of Consolidated

Debt - Summary of Consolidated Indebtedness (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,770,054	$ 1,717,928
Net unamortized debt issuance costs	(6,763)	(10,383)
Unamortized fair market value of assumed debt	548	651
Mortgage and other notes payable, net	1,125,356	1,170,076
Unsecured notes payable, net	500,083	477,320
Total Indebtedness	1,763,839	1,708,196
Mortgages
Debt Instrument [Line Items]
Net unamortized debt issuance costs	(6,507)	(10,078)
Unamortized fair market value of assumed debt	548	651
Mortgage and other notes payable, net	1,125,356	$ 1,170,076
Mortgages | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.70%
Unsecured Debt
Debt Instrument [Line Items]
Net unamortized debt issuance costs	(256)	$ (305)
Unsecured notes payable, net	$ 500,083	477,320
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	$ 228,310	257,735
Core Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 147,810	$ 176,176
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	5.89%	6.00%
Maturity Date	2035-04
Core Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Long-term debt, gross	$ 80,500	$ 81,559
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%	4.54%
Maturity Date	2028-11
Core Portfolio | Unsecured Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 380,000	$ 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	$ 350,000
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans - Swapped | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	2.49%	2.49%
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans - Swapped | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.02%	5.02%
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans - Swapped | LIBOR
Debt Instrument [Line Items]
Interest rate, stated percentage	2.55%
Maturity Date	2021-06
Core Portfolio | Unsecured Debt | Unsecured Line of Credit - Swapped
Debt Instrument [Line Items]
Maturity Date	2022-03
Core Portfolio | Unsecured Debt | Variable Rate Unsecured Term Loans
Debt Instrument [Line Items]
Long-term debt, gross	$ 30,000
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped
Debt Instrument [Line Items]
Long-term debt, gross	$ 138,400	$ 60,800
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	2.49%	2.49%
Core Portfolio | Line of Credit | Unsecured Line of Credit - Swapped | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.02%	5.02%
Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,143,152	$ 1,403,324
Variable Rate
Debt Instrument [Line Items]
Long-term debt, gross	626,902	314,604
Fund II | Fund Portfolio
Debt Instrument [Line Items]
Long-term debt, gross	$ 228,282	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]
Long-term debt, gross	$ 247,085	$ 243,298
Fund II | Fund Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Interest rate, stated percentage		4.75%
Long-term debt, gross		$ 200,000
Fund II | Fund Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Interest rate, stated percentage	2.88%	2.88%
Maturity Date	2021-11
Long-term debt, gross	$ 18,803	$ 19,073
Fund II | Fund Portfolio | Mortgages | Variable Rate Debt | Minimum
Debt Instrument [Line Items]
Maturity Date	2022-03
Fund II | Fund Portfolio | Mortgages | Variable Rate Debt | Maximum
Debt Instrument [Line Items]
Maturity Date	2022-05
Fund II | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%	3.00%
Fund II | Fund Portfolio | Mortgages | Variable Rate Debt | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Fund II | Fund Portfolio | Unsecured Debt | Variable Rate Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%	1.65%
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	2021-09
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	$ 71,918	$ 74,554
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%	2.75%
Maturity Date	2021-06
Fund III | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.10%	3.10%
Maturity Date	2022-07
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	$ 248,325	$ 267,903
Fund IV | Fund Portfolio | Mortgages | Fixed Rate
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,726	$ 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	$ 66,590	$ 102,699
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	3.48%	3.48%
Maturity Date	2022-04
Fund IV | Fund Portfolio | Mortgages | Variable Rate - Swapped | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.61%	4.61%
Maturity Date	2022-12
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 175,009	$ 157,015
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	2021-02
Fund IV | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.40%	3.40%
Maturity Date	2025-10
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 80,089	$ 87,625
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%	1.65%
Maturity Date	2021-06
Fund IV | Fund Portfolio | Unsecured Debt | Term Loan / Subscription Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%	2.00%
Maturity Date	2021-12
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	$ 335,677	$ 336,013
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped
Debt Instrument [Line Items]
Long-term debt, gross	$ 334,323	$ 334,626
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.95%	2.95%
Maturity Date	2021-02
Fund V | Fund Portfolio | Mortgages | Variable Rate - Swapped | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.78%	4.78%
Maturity Date	2024-12
Fund V | Fund Portfolio | Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,354	$ 1,387
Fund V | Fund Portfolio | Mortgages | Variable Rate Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%	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%	2.20%
Maturity Date	2024-12
Fund V | Fund Portfolio | Unsecured Debt | Subscription Line
Debt Instrument [Line Items]
Long-term debt, gross	$ 250	$ 0
Fund V | Fund Portfolio | Unsecured Debt | Subscription Line | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%
Maturity Date	2021-05

Debt - Summary of Consolidate_2

Debt - Summary of Consolidated Indebtedness (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,770,054	$ 1,717,928
Variable-rate debt that subject to interest cap agreements
Debt Instrument [Line Items]
Long-term debt, gross	139,200	143,300
Total Debt - Variable Rate Debt Fixed with Interest Rate Swap Agreements
Debt Instrument [Line Items]
Long-term debt, gross	988,600	948,800
Core Portfolio | Interest Rate Swaps
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,200	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	$ 228,282	$ 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	Dec. 31, 2020	Dec. 17, 2020	Jul. 31, 2020
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 750,000,000
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		1.40%
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		1.30%
Term Loan
Debt Instrument [Line Items]
Term loan			$ 30,000,000	$ 30,000,000	$ 30,000,000

Debt - Mortgage Payable - Addit

Debt - Mortgage Payable - Additional Information (Details)

Oct. 30, 2020USD ($)

Oct. 02, 2020

Jun. 24, 2020USD ($)

Nov. 09, 2017USD ($)

Sep. 30, 2019USD ($)

Dec. 31, 2020USD ($)propertyloan

Jun. 30, 2020USD ($)

Dec. 31, 2019USD ($)propertyloan

Dec. 31, 2012USD ($)

Jul. 31, 2020USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Debt Instrument [Line Items]

Notes receivable, net

$ 101,450,000

$ 114,943,000

$ 111,775,000

$ 160,991,000

Scheduled principal payment

6,100,000

Amount of share failed to meet liquidity requirements.

27,100,000

Mortgages failed to meet debt yield and debt service coverage ratio

124,100,000

Amount of share failed to meet debt yield and debt service coverage ratio

25,600,000

Gain on debt extinguishment

18,339,000

Acquisition of noncontrolling interest

588,000

Interest Rate Swaps

Debt Instrument [Line Items]

Derivative, notional amount

$ 50,000,000

$ 30,400,000

Mortgages

Debt Instrument [Line Items]

Scheduled principal payment

5,900,000

Borrowings, amount

$ 258,900,000

Number of properties collateralized | property

42

44

Mortgages | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

1.70%

Mortgages | Subscription Line

Debt Instrument [Line Items]

Notes receivable, net

$ 46,000,000

Number of mortgage loans | loan

7

Mortgages | Subscription Line 1

Debt Instrument [Line Items]

Notes receivable, net

$ 51,300,000

Mortgages | Subscription Line 2

Debt Instrument [Line Items]

Notes receivable, net

40,000,000

Mortgages | Subscription Line 3

Debt Instrument [Line Items]

Notes receivable, net

$ 88,000,000

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 May 2019 to January 2021 | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

2.08%

Mortgages | Maturing from April 2022 though December 2024.

Debt Instrument [Line Items]

Borrowings, amount

$ 71,800,000

Mortgages | Maturing from April 2022 though December 2024. | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

1.86%

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 | Maturities Ranging from November 2019 through January 2020 | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

3.65%

Mortgages | Maturing Ranging from December 2020 though May 2021

Debt Instrument [Line Items]

Borrowings, amount

$ 125,300,000

Mortgages | Maturing Ranging from December 2020 though May 2021 | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

2.96%

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]

Percentage of tax credits on qualifying invested equity loans

39.00%

Transfer of tax credit transactions to investors exchange amount

$ 5,200,000

Redemption of loan expiration period

7 years

Fund II | Realized and Unrealized Holding Gains on Investments and Other | New Market Tax Credit

Debt Instrument [Line Items]

Income recognized from tax credit transactions

$ 5,000,000

$ 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]

Notes receivable, net

200,000,000

Number of mortgage loans | loan

1

Fund IV | Mortgages

Debt Instrument [Line Items]

Number of mortgage loans | loan

3

Holdback mortgage loan

23,800,000

Holdback mortgage loan outstanding

18,900,000

Holdback mortgage loan drew an additional

1,000,000

$ 900,000

Repayments of debt

$ 38,200,000

Fund IV | Mortgages | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

2.35%

Fund IV | Mortgages One | Colonie Plaza - Albany, NY

Debt Instrument [Line Items]

Repayments of debt

11,600,000

Fund IV | Mortgages Two

Debt Instrument [Line Items]

Repayments of debt

$ 18,400,000

Fund III and Fund IV | Mortgages

Debt Instrument [Line Items]

Holdback mortgage loan

103,400,000

Fund loans repaid

11,500,000

Core Portfolio

Debt Instrument [Line Items]

Derivative, notional amount

572,148,000

Repayments of debt

$ 26,300,000

Core Portfolio | Mortgages | Brandywine Portfolio

Debt Instrument [Line Items]

Debt default, amount

$ 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, late charges, and fees and costs

$ 33,000,000

Increase the alleged balance

$ 46,800,000

Default interest

300,000

Attorneys fees

200,000

Suspense funds

1,500,000

$ 1,300,000

Parties jointly and severally liable amount

33,200,000

Default interest per diem

$ 8,017

Legal and other costs

6,800,000

Proportionate share

$ 1,500,000

Cross appeal stay period

90 days

Gain (loss) on litigation settlement

$ 30,000,000

Acquisition of noncontrolling interest

15,900,000

Core Portfolio | Mortgages | Brandywine Portfolio | Realized and Unrealized Holding Gains on Investments and Other

Debt Instrument [Line Items]

Proportionate share

4,100,000

Gain on debt extinguishment

$ 18,300,000

Core Portfolio | Mortgages | Brandywine Portfolio | Acadia's OP Ownership

Debt Instrument [Line Items]

Equity interest held by Operating Partnership

78.22%

Fund V | Mortgages

Debt Instrument [Line Items]

Number of mortgage loans | loan

5

Fund III | Mortgages

Debt Instrument [Line Items]

Repayments of debt

$ 4,700,000

Fund III | Mortgages | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

Fund III | Mortgages One

Debt Instrument [Line Items]

Repayments of debt

$ 9,800,000

Fund Mortgage And Fund I V

Debt Instrument [Line Items]

Term loans failed to meet liquidity requirements

$ 115,200,000

Debt - Unsecured Notes Payable

Debt - Unsecured Notes Payable - Additional Information (Details) - USD ($)	Jul. 31, 2020	Dec. 31, 2020	Dec. 17, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Oct. 08, 2019
Debt Instrument [Line Items]
Long-term debt outstanding		$ 1,770,054,000				$ 1,717,928,000
Maximum borrowing capacity							$ 750,000,000
Letters of credit, outstanding amount		35,600,000				19,800,000
Fund Portfolio | Fund II
Debt Instrument [Line Items]
Long-term debt outstanding		228,282,000				24,225,000
Unsecured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 600,000,000
Unsecured Debt | Fund IV | Operating Partnership
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 50,800,000
Unsecured Debt | Fund IV | Letter of Credit
Debt Instrument [Line Items]
Letters of credit, outstanding amount		3,600,000				4,100,000
Unsecured Debt | Core Portfolio
Debt Instrument [Line Items]
Long-term debt outstanding		380,000,000				350,000,000
Term Loan
Debt Instrument [Line Items]
Debt available balance		0
Term loan	$ 30,000,000	30,000,000	$ 30,000,000
Debt instrument, maturity date	Jun. 30, 2021
LIBOR plus	2.55%
LIBOR floor	0.75%
Term Loan | Maximum
Debt Instrument [Line Items]
Debt available balance	$ 90,000,000
Unsecured Notes Payable | Unsecured Debt
Debt Instrument [Line Items]
Debt available balance		128,700,000				152,500,000
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 | Fund IV
Debt Instrument [Line Items]
Maximum borrowing capacity		79,200,000
Bridge facility | Unsecured Debt | Fund IV
Debt Instrument [Line Items]
Maximum borrowing capacity		79,200,000
Long-term line of credit, noncurrent		79,200,000				79,200,000
Remaining borrowing capacity		0				0
Subscription Line | Unsecured Debt | Fund IV
Debt Instrument [Line Items]
Maximum borrowing capacity		5,000,000		$ 15,000,000
Long-term line of credit, noncurrent		900,000				8,400,000
Remaining borrowing capacity		500,000				2,500,000
Subscription Line | Unsecured Debt | Fund V
Debt Instrument [Line Items]
Maximum borrowing capacity		150,000,000
Long-term line of credit, noncurrent		300,000
Remaining borrowing capacity		128,200,000
Subscription Line | Unsecured Debt | Fund V | Letter of Credit
Debt Instrument [Line Items]
Letters of credit, outstanding amount		21,500,000
Subscription Line | Unsecured Debt | Fund Portfolio | Fund V
Debt Instrument [Line Items]
Long-term debt outstanding		$ 250,000				0
Remaining borrowing capacity						$ 150,000,000

Debt - Unsecured Revolving Line

Debt - Unsecured Revolving Lines of Credit - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Oct. 08, 2019	Feb. 20, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 750,000,000
Letters of credit, outstanding amount	$ 35,600,000	$ 19,800,000
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	101,100,000	173,600,000
Maximum borrowing capacity	250,000,000
Credit facility amount outstanding	138,400,000	60,800,000
Letters of credit, outstanding amount	$ 10,500,000	$ 15,600,000

Debt - Scheduled Principal Repa

Debt - Scheduled Principal Repayments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 416,614
2022	528,008
2023	415,506
2024	212,020
2025	65,325
Thereafter	132,581
Long-term debt and convertible notes payable	1,770,054	$ 1,717,928
Unamortized premium	548	651
Net unamortized debt issuance costs	(6,763)	(10,383)
Total Indebtedness	$ 1,763,839	$ 1,708,196

Debt - Scheduled Principal Re_2

Debt - Scheduled Principal Repayments - Additional Information (Details)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Contractual due 2021	$ 416,614,000
Contractual due 2022	528,008,000
Contractual due 2023	415,506,000
Debt With Extension Options
Debt Instrument [Line Items]
Contractual due 2021	231,300
Contractual due 2022	266,300
Contractual due 2023	$ 41,500

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, 2020	Dec. 31, 2019
Assets
Derivative financial instruments	$ 1	$ 2,583
Liabilities
Derivative financial instruments	90,139	39,061
Recurring | Level 1
Assets
Money market funds	0	0
Derivative financial instruments	0	0
Investment in Albertsons (Note 4)	72,391	0
Liabilities
Derivative financial instruments	0	0
Recurring | Level 2
Assets
Money market funds	0	0
Derivative financial instruments	1	2,583
Investment in Albertsons (Note 4)	0	0
Liabilities
Derivative financial instruments	90,139	39,061
Recurring | Level 3
Assets
Money market funds	0	0
Derivative financial instruments	0	0
Investment in Albertsons (Note 4)	0	0
Liabilities
Derivative financial instruments	$ 0	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Schedule of Items Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Impairment charges				$ 85,598	$ 1,721
Fair Value, Measurements, Nonrecurring
Derivatives, Fair Value [Line Items]
Impairment charges				85,598	1,721
Fair Value, Measurements, Nonrecurring | Acadia Realty Trust
Derivatives, Fair Value [Line Items]
Impairment charges				$ 20,594	$ 395
Fair Value, Measurements, Nonrecurring | Cortlandt Crossing, Mohegan Lake, NY | Fund III | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event	Reduced holding period, reduced projected operating income
Impairment charges	$ 27,402
Fair Value, Measurements, Nonrecurring | Cortlandt Crossing, Mohegan Lake, NY | Acadia Realty Trust | Fund III | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Impairment charges	$ 6,726
Fair Value, Measurements, Nonrecurring | 654 Broadway, New York, NY | Fund III | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event	Reduced holding period
Impairment charges	$ 6,398
Fair Value, Measurements, Nonrecurring | 654 Broadway, New York, NY | Acadia Realty Trust | Fund III | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Impairment charges	$ 1,570
Fair Value, Measurements, Nonrecurring | 146 Geary Street, San Francisco, CA | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event	Reduced holding period, reduced projected operating income
Impairment charges	$ 6,718
Fair Value, Measurements, Nonrecurring | 146 Geary Street, San Francisco, CA | Acadia Realty Trust | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Impairment charges	$ 1,553
Fair Value, Measurements, Nonrecurring | 801 Madison Avenue, New York, NY | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event	Reduced holding period, reduced projected operating income
Impairment charges	$ 11,031
Fair Value, Measurements, Nonrecurring | 801 Madison Avenue, New York, NY | Acadia Realty Trust | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Impairment charges	$ 2,551
Fair Value, Measurements, Nonrecurring | 717 N. Michigan Avenue, Chicago, IL | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period, reduced projected operating income
Impairment charges				$ 17,392
Fair Value, Measurements, Nonrecurring | 717 N. Michigan Avenue, Chicago, IL | Acadia Realty Trust | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Impairment charges				$ 4,021
Fair Value, Measurements, Nonrecurring | 110 University, New York, NY | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Reduced holding period, reduced projected operating income
Impairment charges				$ 16,238
Fair Value, Measurements, Nonrecurring | 110 University, New York, NY | Acadia Realty Trust | Fund IV | Level 3 Inputs Projections
Derivatives, Fair Value [Line Items]
Impairment charges				$ 3,754
Fair Value, Measurements, Nonrecurring | Fifth Wall Investment | Core Portfolio | Level 3 Inputs Fair Value of Net Assets Projections
Derivatives, Fair Value [Line Items]
Triggering Event				Decline in fair value
Impairment charges				$ 419
Fair Value, Measurements, Nonrecurring | Fifth Wall Investment | Acadia Realty Trust | Core Portfolio | Level 3 Inputs Fair Value of Net Assets Projections
Derivatives, Fair Value [Line Items]
Impairment charges				$ 419
Fair Value, Measurements, Nonrecurring | 210 Bowery Residential Units | Fund IV | Level 3 Inputs Contract Sales Price
Derivatives, Fair Value [Line Items]
Triggering Event		Reduced selling price
Impairment charges		$ 321
Fair Value, Measurements, Nonrecurring | 210 Bowery Residential Units | Fund IV | Level 3 Inputs Offering Price
Derivatives, Fair Value [Line Items]
Triggering Event			Reduced selling price
Impairment charges			$ 1,400
Fair Value, Measurements, Nonrecurring | 210 Bowery Residential Units | Acadia Realty Trust | Fund IV | Level 3 Inputs Contract Sales Price
Derivatives, Fair Value [Line Items]
Impairment charges		$ 74
Fair Value, Measurements, Nonrecurring | 210 Bowery Residential Units | Acadia Realty Trust | Fund IV | Level 3 Inputs Offering Price
Derivatives, Fair Value [Line Items]
Impairment charges			$ 321

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, 2020	Jul. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (90,139)		$ (39,061)
Fair value, asset derivatives	1		2,583
Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	50,000	$ 30,400
Core Portfolio
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	572,148
Fair value, derivatives, net	(74,990)		(33,294)
Core Portfolio | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	532,796
Fair value, liability derivatives	(74,990)		(33,750)
Core Portfolio | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 39,352
Derivative Effective Date	2015-11
Derivative Maturity Date	2021-01
Fair value, asset derivatives	$ 0		456
Core Portfolio | Interest Rate Swaps | Minimum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2012-12
Derivative Maturity Date	2021-06
Strike Rate	1.24%
Core Portfolio | Interest Rate Swaps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	1.31%
Core Portfolio | Interest Rate Swaps | Maximum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2023-04
Derivative Maturity Date	2033-04
Strike Rate	3.77%
Core Portfolio | Interest Rate Swaps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	1.31%
Fund Portfolio | Fund II
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 63,803
Fair value, derivatives, net	(219)		(138)
Fund Portfolio | Fund II | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 18,803
Derivative Effective Date	2014-10
Derivative Maturity Date	2021-11
Fair value, liability derivatives	$ (219)		(139)
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 Caps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 45,000
Derivative Effective Date	2019-03
Derivative Maturity Date	2022-03
Fair value, asset derivatives	$ 0		1
Fund Portfolio | Fund II | Interest Rate Caps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.50%
Fund Portfolio | Fund II | Interest Rate Caps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Strike Rate	3.50%
Fund Portfolio | Fund III | Interest Rate Caps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 39,470
Fair value, asset derivatives	$ 0		0
Fund Portfolio | Fund III | Interest Rate Caps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2020-01
Derivative Maturity Date	2021-01
Strike Rate	3.00%
Fund Portfolio | Fund III | Interest Rate Caps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2021-01
Derivative Maturity Date	2022-07
Strike Rate	3.00%
Fund Portfolio | Fund IV
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 143,990
Fair value, derivatives, net	(1,712)		(790)
Fund Portfolio | Fund IV | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	66,590
Fair value, liability derivatives	(1,713)		(812)
Fund Portfolio | Fund IV | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	0
Fair value, asset derivatives	$ 0		22
Fund Portfolio | Fund IV | Interest Rate Swaps | Minimum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2017-03
Derivative Maturity Date	2022-04
Strike Rate	1.48%
Fund Portfolio | Fund IV | Interest Rate Swaps | Maximum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-12
Derivative Maturity Date	2022-12
Strike Rate	4.00%
Fund Portfolio | Fund IV | Interest Rate Caps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 77,400
Fair value, asset derivatives	$ 1		0
Fund Portfolio | Fund IV | Interest Rate Caps | Minimum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-07
Derivative Maturity Date	2021-07
Strike Rate	3.00%
Fund Portfolio | Fund IV | Interest Rate Caps | Maximum | Other Assets
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2020-12
Derivative Maturity Date	2022-12
Strike Rate	3.50%
Fund Portfolio | Fund V
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	$ 334,323
Fair value, derivatives, net	(13,217)		(2,256)
Fund Portfolio | Fund V | Interest Rate Swaps | Other Liabilities
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	334,323
Fair value, liability derivatives	(13,217)		(4,360)
Fund Portfolio | Fund V | Interest Rate Swaps | Other Assets
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	0
Fair value, asset derivatives	$ 0		$ 2,104
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	1.25%
Fund Portfolio | Fund V | Interest Rate Swaps | Maximum | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Effective Date	2019-11
Derivative Maturity Date	2024-10
Strike Rate	2.88%

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, 2020USD ($)derivative	Dec. 31, 2019USD ($)	Jul. 31, 2020USD ($)
Derivatives, Fair Value [Line Items]
Fair value, liability derivatives	$ (90,139)	$ (39,061)
Core Portfolio
Derivatives, Fair Value [Line Items]
Derivative, notional amount	572,148
Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 50,000		$ 30,400
Interest Rate Swaps | Core Portfolio | February 2020 Swap One Acquisition
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | derivative	1
Fair value, liability derivatives	$ (1,800)
Derivative Effective Date		2022-04
Derivative, notional amount	$ 50,000
Interest Rate Swaps | Core Portfolio | February 2020 Swap Two Acquisition
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | derivative	1
Fair value, liability derivatives	$ (1,300)
Derivative Effective Date	2023-04
Derivative, notional amount	$ 50,000
Interest Rate Swaps | Core Portfolio | November 2020 Swap Three Acquisition
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | derivative	1
Fair value, liability derivatives	$ 0
Derivative Effective Date	2021-01
Derivative, notional amount	$ 0

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Reclassification adjustment related to derivatives from AOCI to interest expense	$ 20,200,000
Derivatives designated as fair value hedges	0	$ 0
Derivative designated to hedges of net investments in foreign operations	$ 0	$ 0

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Schedule of Other Financial Instruments Carrying Values and Fair values (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	$ 101,450	$ 114,943	$ 111,775	$ 160,991
Mortgage and Other Notes Payable	1,763,839	1,708,196
Unsecured notes payable and Unsecured line of credit	500,083	477,320
Level 3 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	101,450	114,943
Mortgage and Other Notes Payable	1,131,315	1,179,503
Investment in non-traded equity securities	1,726	1,778
Level 3 | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Receivable	102,135	113,422
Mortgage and Other Notes Payable	1,111,354	1,191,281
Investment in non-traded equity securities	1,456	57,964
Level 2 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes payable and Unsecured line of credit	638,739	538,425
Level 2 | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes payable and Unsecured line of credit	$ 623,392	$ 539,362

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Contractual obligation	$ 32.7	$ 41.1
Letters of credit, outstanding amount	$ 35.6	$ 19.8

Shareholders' Equity, Noncont_3

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Common Shares and Units - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restricted shares
Class of Stock [Line Items]
Restricted stock, shares canceled for tax withholding for share based compensation (in shares)	2,075	2,468
LTIP Units and Restricted Stock
Class of Stock [Line Items]
Unit based compensation expense	$ 8.4	$ 8.8

Shareholders' Equity, Noncont_4

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - ATM Program - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Weighted Average Share Price	$ 18.29
ATM Program
Class of Stock [Line Items]
Issuance of ordinary shares (in shares)			0	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 Loss - Share Repurchases - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	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)	1,219,065		0
Shares repurchased during period	$ 22,400,000	$ 22,386,000		$ 55,111,000
Stock repurchase fees	$ 100,000
Weighted Average Share Price	$ 18.29
Remaining authorized repurchase amount		$ 122,600,000

Shareholders' Equity, Noncont_6

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Schedule of Distributions Declared and paid (Details) - $ / shares	Feb. 26, 2020	Nov. 05, 2019	Aug. 13, 2019	May 09, 2019	Feb. 28, 2019	Nov. 13, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Cash dividends declared per common share (in dollars per share)							$ 0.29	$ 0.28	$ 0.29	$ 1.13	$ 1.09
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
First Quarter Two Thousand Twenty
Class of Stock [Line Items]
Cash dividends, declared date									Feb. 26, 2020
Cash dividends declared per common share (in dollars per share)	$ 0.29
Cash dividends, record date									Mar. 31, 2020
Cash dividends, paid date									Apr. 15, 2020

Shareholders' Equity, Noncont_7

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Dividends and Distributions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
Preferred Stock
Class of Stock [Line Items]
Distributions payable	$ 0.1	$ 0.1	$ 0.1

Shareholders' Equity, Noncont_8

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Summary of Activity in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ 2,186,965	$ 2,081,947	$ 2,215,639
Other comprehensive loss before reclassifications - swap agreements	(74,236)	(35,674)	(2,659)
Reclassification of realized interest on swap agreements	15,203	(872)	71
Net current period other comprehensive loss	(59,033)	(36,546)	(2,588)
Balance	2,048,553	2,186,965	2,081,947
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(31,175)	516	2,614
Balance	(74,891)	(31,175)	516
AOCI Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net current period other comprehensive loss	$ 15,317	$ 4,855	$ 490

Shareholders' Equity, Noncont_9

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Summary of Change in Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 644,657
Net income (loss)	(66,038)	$ 21,204	$ (15,698)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0	0	0
Other comprehensive income (loss) - unrealized loss on valuation of swap agreements	(74,236)	(35,674)	(2,659)
Acquisition of noncontrolling interest	588
Reclassification of realized interest on swap agreements	15,203	(872)	71
Noncontrolling interest contributions	52,674	161,628	47,560
Noncontrolling interest distributions	(27,574)	(94,289)	(24,793)
Employee Long-term Incentive Plan Unit Awards	10,912	10,957	12,948
Reallocation of noncontrolling interests / Rebalancing adjustment	0	0	0
Ending Balance	607,239	644,657
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	644,657	622,442	648,440
Distributions declared per Common OP Unit	(2,218)	(7,124)	(6,888)
Net income (loss)	(57,279)	(31,841)	(47,137)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	(6,544)	(5,104)	(2,068)
Other comprehensive income (loss) - unrealized loss on valuation of swap agreements	(20,955)	(4,935)	(810)
Acquisition of noncontrolling interest	15,918
Reclassification of realized interest on swap agreements	5,638	80	320
Noncontrolling interest contributions	52,674	161,628	47,560
Noncontrolling interest distributions	(27,574)	(94,289)	(24,793)
Employee Long-term Incentive Plan Unit Awards	10,130	10,411	12,374
Reallocation of noncontrolling interests / Rebalancing adjustment	(7,197)	(6,611)	(4,556)
Ending Balance	607,239	644,657	622,442
Noncontrolling Interests | Cumulative Effect of Change in Accounting Principle
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(11)
Ending Balance		(11)
Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	546,987	518,219	545,519
Distributions declared per Common OP Unit	0	0	0
Net income (loss)	(57,404)	(35,677)	(49,709)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	0	0	0
Other comprehensive income (loss) - unrealized loss on valuation of swap agreements	(18,246)	(3,036)	(681)
Acquisition of noncontrolling interest	15,918
Reclassification of realized interest on swap agreements	5,464	142	323
Noncontrolling interest contributions	52,674	161,628	47,560
Noncontrolling interest distributions	(27,574)	(94,289)	(24,793)
Employee Long-term Incentive Plan Unit Awards	0	0	0
Reallocation of noncontrolling interests / Rebalancing adjustment	0	0	0
Ending Balance	517,808	546,987	518,219
Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates | Cumulative Effect of Change in Accounting Principle
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(11)
Ending Balance		(11)
Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	97,670	104,223	102,921
Distributions declared per Common OP Unit	(2,218)	(7,124)	(6,888)
Net income (loss)	125	3,836	2,572
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership	(6,544)	(5,104)	(2,068)
Other comprehensive income (loss) - unrealized loss on valuation of swap agreements	(2,709)	(1,899)	(129)
Acquisition of noncontrolling interest	0
Reclassification of realized interest on swap agreements	174	(62)	(3)
Noncontrolling interest contributions	0	0	0
Noncontrolling interest distributions	0	0	0
Employee Long-term Incentive Plan Unit Awards	10,130	10,411	12,374
Reallocation of noncontrolling interests / Rebalancing adjustment	(7,197)	(6,611)	(4,556)
Ending Balance	89,431	97,670	$ 104,223
Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member | Cumulative Effect of Change in Accounting Principle
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 0
Ending Balance		$ 0

Shareholders' Equity, Noncon_10

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Summary of Change in Noncontrolling Interest (Parenthetical) (Details) - $ / shares	3 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minority Interest [Line Items]
Distributions declared (in dollars per share)	$ 0.29	$ 0.28	$ 0.29	$ 1.13	$ 1.09
Conversion of Common OP Units to Common Shares by limited partners of the Operating Partnership (in shares)			407,594	307,663	117,978
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	3,101,958	3,250,603	3,329,640
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	126,593	136,593	136,593
LTIP Units
Minority Interest [Line Items]
LTIP units outstanding (in shares)	2,673,484	2,569,044	2,886,207	2,673,484	2,569,044

Shareholders' Equity, Noncon_11

Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Preferred OP Units - Additional Information (Details) - $ / shares	12 Months Ended				60 Months Ended	264 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2016	Dec. 31, 1999	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2018
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)	3,101,958	3,250,603			3,101,958	3,101,958	3,329,640
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)	126,593	136,593			126,593	126,593	136,593

Leases - Additional Information

Leases - Additional Information (Details)	Jan. 01, 2019item	Sep. 30, 2020USD ($)item	Jun. 30, 2020item	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Operating Leased Assets [Line Items]
Variable lease revenues				$ 57,700,000
Number of operating lease | item					9
Lease liability - operating lease				88,816,000	$ 56,762,000
Lease agreement purchase price				14,500
Operating lease right-of-use asset				76,268,000	$ 60,006,000
Number of finance lease | item					4
Finance lease, right-of-use asset				25,086,000	$ 102,055,000
565 Broadway | Core Portfolio
Operating Leased Assets [Line Items]
Operating lease right-of-use asset					4,900,000
Finance lease, right-of-use asset					19,400,000
110 University Place
Operating Leased Assets [Line Items]
Operating lease right-of-use asset					45,300,000
Operating lease liability					45,300,000
Capital Lease Liability
Operating Leased Assets [Line Items]
Finance lease liabilities					71,100,000
Fund IV Property
Operating Leased Assets [Line Items]
Impairment charge of right-of-use asset				$ 12,300,000
BSP II
Operating Leased Assets [Line Items]
Number of operating lease | item			1
Branch Plaza
Operating Leased Assets [Line Items]
Number of operating lease | item				1
Operating Lease term				22 years
1238 Wisconsin
Operating Leased Assets [Line Items]
Lease agreement purchase price				$ 11,500
Operating lease right-of-use asset				1,900
Operating lease liability				$ 1,900
Accounting Standards Update 2016-02
Operating Leased Assets [Line Items]
Operating lease right-of-use asset					11,900,000
Operating lease liability					12,800,000
Number of finance lease | item	3
Accounting Standards Update 2016-02 | 991 Madison Avenue Manhattan, NY
Operating Leased Assets [Line Items]
Capital lease term			49 years
Operating Lease term			15 years
Office Lease
Operating Leased Assets [Line Items]
Number of operating lease | item		1
Lease liability - operating lease		$ 1,700
Ground, Office and Equipment Leases
Operating Leased Assets [Line Items]
Operating lease right-of-use asset					82,600,000
Operating lease liability					76,600,000
Capital Leases Asset
Operating Leased Assets [Line Items]
Finance lease, right-of-use asset					$ 77,000,000
Minimum
Operating Leased Assets [Line Items]
Operating lease term				1 month
Maximum
Operating Leased Assets [Line Items]
Operating lease term				60 years

Leases - Schedule of Assets and

Leases - Schedule of Assets and Liabilities in Connection With Acquisitions of Leasehold Interests (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amounts recorded upon acquisition of leasehold interests:
Right-of-use assets - operating leases, net	$ 76,268	$ 60,006
Right-of-use assets - finance leases	25,086	102,055
Lease liability - operating lease	$ (88,816)	(56,762)
Leasehold Interests Acquisition
Amounts recorded upon acquisition of leasehold interests:
Right-of-use assets - operating leases, net		50,147
Right-of-use assets - finance leases		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) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$ 1,595	$ 1,603
Interest on lease liabilities	1,635	2,755
Subtotal	3,230	4,358
Operating lease cost	7,661	3,037
Variable lease cost	143	119
Total lease cost	$ 11,034	$ 7,514
Weighted-average remaining lease term - finance leases (years)	33 years 4 months 24 days	42 years 6 months
Weighted-average remaining lease term - operating leases (years)	26 years 4 months 24 days	34 years 1 month 6 days
Weighted-average discount rate - finance leases	6.20%	4.50%
Weighted-average discount rate - operating leases	5.60%	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, 2020USD ($)
Minimum Rental Revenues
2021	$ 206,451
2022	196,633
2023	174,947
2024	149,532
2025	119,738
Thereafter	525,288
Total	1,372,589
Minimum Rental Payments, Operating Leases
2021	8,531
2022	7,779
2023	7,801
2024	7,983
2025	8,020
Thereafter	150,435
Total	190,549
Minimum Rental Payments, Finance Leases
2021	134
2022	95
2023	69
2024	47
Thereafter	12,289
Total	$ 12,634

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, 2020USD ($)
Leases [Abstract]
Minimum rental payments of interest related to finance lease	$ 6.4
Minimum rental payments of interest related to operating lease	$ 101.8

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Summary of

Segment Reporting - Summary of Segment Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 255,484,000	$ 295,327,000	$ 259,681,000
Depreciation and amortization	(149,793,000)	(125,443,000)	(117,549,000)
Property operating expenses, other operating and real estate taxes	(100,100,000)	(90,468,000)	(80,248,000)
General and administrative expenses	(36,055,000)	(35,416,000)	(34,343,000)
Impairment charges	(85,598,000)	(1,721,000)
Gain on disposition of properties	683,000	30,324,000	5,140,000
Operating (loss) income	(115,379,000)	72,603,000	32,681,000
Interest income	8,979,000	7,988,000	13,231,000
Equity in earnings (losses) of unconsolidated affiliates inclusive of gains on disposition of properties	(1,237,000)	8,922,000	9,302,000
Interest expense	(72,060,000)	(73,788,000)	(69,978,000)
Gain (loss) on investment	113,930,000	6,947,000
Income tax provision	(271,000)	(1,468,000)	(934,000)
Net (loss) income	(66,038,000)	21,204,000	(15,698,000)
Net loss attributable to noncontrolling interests	57,279,000	31,841,000	47,137,000
Net (loss) income attributable to Acadia	(8,759,000)	53,045,000	31,439,000
Real estate at cost	4,094,288,000	4,039,536,000	3,697,805,000
Total Assets	4,186,882,000	4,309,114,000	3,958,780,000
Cash paid for acquisition of real estate and leasehold interest	21,208,000	319,673,000	147,985,000
Cash paid for development and property improvement costs	40,483,000	89,270,000	94,834,000
Cash paid for acquisition of real estate		358,704,000
Core Portfolio
Segment Reporting Information [Line Items]
Gain (loss) on investment	0
Operating Segments | Core Portfolio
Segment Reporting Information [Line Items]
Total revenues	160,262,000	173,177,000	166,816,000
Depreciation and amortization	(76,125,000)	(61,819,000)	(60,903,000)
Property operating expenses, other operating and real estate taxes	(57,246,000)	(47,032,000)	(44,060,000)
General and administrative expenses	0	0	0
Impairment charges	(419,000)	0
Gain on disposition of properties	174,000	16,771,000	0
Operating (loss) income	26,646,000	81,097,000	61,853,000
Interest income	0	0	0
Equity in earnings (losses) of unconsolidated affiliates inclusive of gains on disposition of properties	(874,000)	9,020,000	7,415,000
Interest expense	(33,185,000)	(28,304,000)	(27,575,000)
Gain (loss) on investment	18,564,000	327,000
Income tax provision	0	0	0
Net (loss) income	11,151,000	62,140,000	41,693,000
Net loss attributable to noncontrolling interests	(5,837,000)	337,000	752,000
Net (loss) income attributable to Acadia	5,314,000	62,477,000	42,445,000
Real estate at cost	2,330,116,000	2,252,230,000	2,069,439,000
Total Assets	2,254,680,000	2,350,833,000	2,232,695,000
Cash paid for acquisition of real estate and leasehold interest	19,963,000		1,343,000
Cash paid for development and property improvement costs	11,170,000	22,724,000	32,662,000
Cash paid for acquisition of real estate		173,892,000
Operating Segments | Opportunity Funds
Segment Reporting Information [Line Items]
Total revenues	95,222,000	122,150,000	92,865,000
Depreciation and amortization	(73,668,000)	(63,624,000)	(56,646,000)
Property operating expenses, other operating and real estate taxes	(42,854,000)	(43,436,000)	(36,188,000)
General and administrative expenses	0	0	0
Impairment charges	(85,179,000)	(1,721,000)
Gain on disposition of properties	509,000	13,553,000	5,140,000
Operating (loss) income	(105,970,000)	26,922,000	5,171,000
Interest income	0	0	0
Equity in earnings (losses) of unconsolidated affiliates inclusive of gains on disposition of properties	(363,000)	(98,000)	1,887,000
Interest expense	(38,875,000)	(45,484,000)	(42,403,000)
Gain (loss) on investment	95,366,000	6,620,000
Income tax provision	0	0	0
Net (loss) income	(49,842,000)	(12,040,000)	(35,345,000)
Net loss attributable to noncontrolling interests	63,116,000	31,504,000	46,385,000
Net (loss) income attributable to Acadia	13,274,000	19,464,000	11,040,000
Real estate at cost	1,764,172,000	1,787,306,000	1,628,366,000
Total Assets	1,830,752,000	1,843,338,000	1,616,472,000
Cash paid for acquisition of real estate and leasehold interest	1,245,000		146,642,000
Cash paid for development and property improvement costs	29,313,000	66,546,000	62,172,000
Cash paid for acquisition of real estate		184,812,000
Operating Segments | Structured Financing
Segment Reporting Information [Line Items]
Total 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 charges	0	0
Gain on disposition of properties	0	0	0
Operating (loss) income	0	0	0
Interest income	8,979,000	7,988,000	13,231,000
Equity in earnings (losses) of unconsolidated affiliates inclusive of gains on disposition of properties	0	0	0
Interest expense	0	0	0
Gain (loss) on investment	0	0
Income tax provision	0	0	0
Net (loss) income	8,979,000	7,988,000	13,231,000
Net loss attributable to noncontrolling interests	0	0	0
Net (loss) income attributable to Acadia	8,979,000	7,988,000	13,231,000
Real estate at cost	0	0	0
Total Assets	101,450,000	114,943,000	109,613,000
Cash paid for acquisition of real estate and leasehold interest	0		0
Cash paid for development and property improvement costs	0	0	0
Cash paid for acquisition of real estate		0
Unallocated
Segment Reporting Information [Line Items]
Total 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	(36,055,000)	(35,416,000)	(34,343,000)
Impairment charges	0	0
Gain on disposition of properties	0	0	0
Operating (loss) income	(36,055,000)	(35,416,000)	(34,343,000)
Interest income	0	0	0
Equity in earnings (losses) of unconsolidated affiliates inclusive of gains on disposition of properties	0	0	0
Interest expense	0	0	0
Gain (loss) on investment	0	0
Income tax provision	(271,000)	(1,468,000)	(934,000)
Net (loss) income	(36,326,000)	(36,884,000)	(35,277,000)
Net loss attributable to noncontrolling interests	0	0	0
Net (loss) income attributable to Acadia	(36,326,000)	(36,884,000)	(35,277,000)
Real estate at cost	0	0	0
Total Assets	0	0	0
Cash paid for acquisition of real estate and leasehold interest	0		0
Cash paid for development and property improvement costs	$ 0	0	$ 0
Cash paid for acquisition of real estate		$ 0

Segment Reporting - Summary o_2

Segment Reporting - Summary of Segment Information (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net income attributable to Acadia	$ (8,759)	$ 53,045	$ 31,439
Real estate at cost	4,094,288	4,039,536	3,697,805
Total Assets	4,186,882	4,309,114	3,958,780
Net (income) loss attributable to noncontrolling interests	(57,279)	(31,841)	(47,137)
Funds | Fund II's City Point Property
Segment Reporting Information [Line Items]
Real estate at cost	641,700
Total Assets	603,300
Net (income) loss attributable to noncontrolling interests	186,500	174,700
Operating Segments | Core Portfolio
Segment Reporting Information [Line Items]
Net income attributable to Acadia	5,314	62,477	42,445
Real estate at cost	2,330,116	2,252,230	2,069,439
Total Assets	2,254,680	2,350,833	2,232,695
Net (income) loss attributable to noncontrolling interests	5,837	(337)	(752)
Operating Segments | Core Portfolio | Town Center
Segment Reporting Information [Line Items]
Net income attributable to Acadia	2,200	4,700	4,100
Operating Segments | Funds
Segment Reporting Information [Line Items]
Net income attributable to Acadia	13,274	19,464	11,040
Real estate at cost	1,764,172	1,787,306	1,628,366
Total Assets	1,830,752	1,843,338	1,616,472
Net (income) loss attributable to noncontrolling interests	$ (63,116)	$ (31,504)	$ (46,385)

Share Incentive and Other Com_3

Share Incentive and Other Compensation - Additional Information (Details) - USD ($)	Mar. 23, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit based compensation		$ 10,912,000	$ 10,957,000	$ 12,948,000
Trustee fees		1,400,000	1,400,000
Total unrecognized compensation cost related to nonvested awards		$ 15,100,000
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]
Total fair value of shares that vested		$ 7,600,000	8,500,000
LTIP Units | Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures		42,680
Shares granted to trustees for trustee fees vesting on one year anniversary of grant date		17,492
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		25,188
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares that vested		$ 500,000	$ 600,000
Restricted shares | Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, share-based compensation, net of forfeitures		53,058
Shares granted to trustees for trustee fees vesting on one year anniversary of grant date		19,474
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		33,584
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		$ 10,400,000
Weighted average grant date fair value, grants (in dollars per share)		$ 18.86	$ 32.50
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		$ 8,400,000	$ 8,800,000	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	300,000
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in number of shares authorized	2,650,000
Number of shares authorized		2,738,013
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		396,149
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		13,766
Performance Shares 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years	3 years
Volatility rate		21.00%	19.60%
Risk-free interest rates		1.40%	2.50%
Long Term Investment Alignment Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Max percentage of future fund III promote that may be awarded to senior executives					25.00%
Long Term Investment Alignment Program | Fund III
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of promote awarded as share based compensation award		25.00%
Compensation expense		$ 0	$ 0	0
Long Term Investment Alignment Program | Fund IV
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of promote awarded as share based compensation award		22.80%
Awards in connection with fund to have intrinsic value		$ 0
Compensation expense		$ 0	0	0
Long Term Investment Alignment Program | Fund V
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of promote awarded as share based compensation award		4.20%
Awards in connection with fund to have intrinsic value		$ 0
Compensation expense		$ 0	$ 0	$ 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares unvested, Beginning of period (in shares)	42,390	38,455	41,327
Shares granted (in shares)	66,824	25,359	22,817
Shares vested (in shares)	(19,264)	(21,424)	(25,261)
Shares forfeited (in shares)	(39)		(428)
Shares unvested, End of period (in shares)	89,911	42,390	38,455
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 23.73	$ 22.44	$ 26.92
Shares granted, Weighted average grant date fair value (in dollars per share)	13.70	28.56	23.65
Shares vested, Weighted average grant date fair value (in dollars per share)	27.72	27.12	30.79
Shares forfeited, Weighted average grant date fair value (in dollars per share)	24.77		27.25
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 15.42	$ 23.73	$ 22.44
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares unvested, Beginning of period (in shares)	936,180	891,886	910,099
Shares granted (in shares)	440,829	350,726	425,880
Shares vested (in shares)	(250,241)	(290,753)	(431,827)
Shares forfeited (in shares)	(3,879)	(15,679)	(12,266)
Shares unvested, End of period (in shares)	1,122,889	936,180	891,886
Weighted Grant-Date Fair Value
Shares unvested, Weighted average grant date fair value, Beginning of period (in dollars per share)	$ 28.24	$ 26.87	$ 28.28
Shares granted, Weighted average grant date fair value (in dollars per share)	19.64	32.75	26.80
Shares vested, Weighted average grant date fair value (in dollars per share)	30.44	29.30	29.72
Shares forfeited, Weighted average grant date fair value (in dollars per share)	24.67	31.49	28.57
Shares unvested, Weighted average grant date fair value, End of period (in dollars per share)	$ 24.38	$ 28.24	$ 26.87

Share Incentive and Other Com_5

Share Incentive and Other Compensation - Employee Share Purchase Plan and Deferred Share Plan - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
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)	5,266	2,320

Share Incentive and Other Com_6

Share Incentive and Other Compensation - Employee 401 (k) Plan - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
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, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Minimum distribution percentage of annual taxable income to qualify as REIT	90.00%
Maximum percentage of total assets consisting of securities of TRS	20.00%
Deferred tax assets, net	$ 0	$ 0.9
Deferred tax assets, applicable reserves	2.6	1.7
Deferred tax assets, capital loss carryforwards	0.1	0.1
Deferred tax assets, operating loss carryforwards	$ 2.5	$ 2.5
Minimum percentage of unrealized deferred tax asset required for qualification of valuation allowance	50.00%
Deferred tax assets valuation allowance	$ 0.9

Federal Income Taxes - Reconcil

Federal Income Taxes - Reconciliation of Net Income to Taxable Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net income attributable to Acadia	$ (8,759)	$ 53,045	$ 31,439
Deferred cancellation of indebtedness income	0	0	2,050
Deferred rental and other income	(2,498)	1,203	1,222
Book/tax difference - depreciation and amortization	27,052	21,688	23,166
Straight-line rent and above- and below-market rent adjustments	8,630	(10,949)	(12,129)
Book/tax differences - equity-based compensation	6,825	7,177	6,042
Joint venture equity in earnings, net	(163)	15,571	13,905
Impairment charges and reserves	18,734	0	0
Acquisition costs	14	63	326
Gain on disposition of properties	4,936	2,375	0
Book/tax differences - miscellaneous	(253)	(1,473)	(2,821)
Taxable income	54,518	88,700	63,200
Distributions declared	$ 24,937	$ 96,310	$ 89,122

Federal Income Taxes - Reconc_2

Federal Income Taxes - Reconciliation of Net Income to Taxable Income (Parenthetical) (Details) - Fourth Quarter Two Thousand Nineteen	12 Months Ended
	Dec. 31, 2020USD ($)
Income Taxes [Line Items]
Dividend paid	$ 25,200
Dividends payable, month and year	2020-01

Federal Income Taxes - Tax Stat

Federal Income Taxes - Tax Status of Dividends (Details) - $ / shares	3 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Total (in dollars per share)	$ 0.29	$ 0.28	$ 0.29	$ 1.13	$ 1.09
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)			0.060	0.240	0
Total (in dollars per share)			$ 0.580	$ 1.060	$ 0.870
Qualified dividend			0.00%	0.00%	0.00%
Capital gain			10.00%	23.00%	0.00%
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
Ordinary income			0.00%	0.00%	0.00%
Section 199A | Characterization Of Distributions For Federal Income Tax Purposes
Income Tax Contingency [Line Items]
Ordinary income (in dollars per share)			$ 0.520	$ 0.820	$ 0.870
Ordinary income			90.00%	77.00%	100.00%

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	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Dividend per common share	$ 0.29	$ 0.28	$ 0.29	$ 1.13	$ 1.09
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	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
(Provision) benefit for income taxes:
Net (loss) income	$ (66,038)	$ 21,204	$ (15,698)
Noncontrolling interests	57,279	31,841	47,137
Net (loss) income attributable to Acadia	(8,759)	53,045	31,439
TRS [Member]
Income Tax Contingency [Line Items]
TRS loss before income taxes	(3,856)	(3,117)	(2,609)
(Provision) benefit for income taxes:
Federal	376	754	(377)
State and local	(268)	317	26
Net (loss) income	(3,748)	(2,046)	(2,960)
Noncontrolling interests	746	(369)	4
Net (loss) income attributable to Acadia	$ (3,002)	$ (2,415)	$ (2,956)

Federal Income Taxes - Tax Reco

Federal Income Taxes - Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal tax benefit at statutory tax rate	$ (810)	$ (655)	$ (548)
TRS state and local taxes, net of Federal benefit	(244)	(197)	(165)
Permanent differences, net	227	239	951
Prior year over-accrual, net	0	0	0
Effect of Tax Cuts and Jobs Act	0	0	0
Adjustment to deferred tax reserve	851	1,748	(1,530)
Other	(131)	(112)	1,702
REIT state and local income and franchise taxes	378	445	524
Total provision for income taxes	$ 271	$ 1,468	$ 934

(Loss) Earnings Per Common Sh_3

(Loss) Earnings Per Common Share - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020
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%

(Loss) Earnings Per Common Sh_4

(Loss) Earnings Per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net (loss) income attributable to Acadia	$ (8,759)	$ 53,045	$ 31,439
Less: net income attributable to participating securities	(233)	(413)	(267)
(Loss) income from continuing operations net of income attributable to participating securities	$ (8,992)	$ 52,632	$ 31,172
Denominator:
Weighted average shares for basic earnings per share (in shares)	86,441,922	84,435,826	82,080,159
Effect of dilutive securities:
Employee unvested restricted shares (in shares)	0	0	0
Denominator for diluted earnings per share (in shares)	86,441,922	84,435,826	82,080,159
Basic (loss) income and diluted earnings per Common Share from continuing operations attributable to Acadia	$ (0.10)	$ 0.62	$ 0.38
Series A Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	188	188	188
Series A Preferred OP Units - Common Share Equivalent
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	25,067	25,067	25,067
Series C Preferred OP Units
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	126,593	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)	439,556	474,278	474,278
Restricted shares
Anti-Dilutive Shares Excluded from Denominator:
Antidilutive securities excluded from computation of earnings per share (in shares)	76,394	40,821	36,879

Subsequent Events - Schedule of

Subsequent Events - Schedule of Tenant Operating Status (Details)	Jan. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
Core Portfolio
Subsequent Event [Line Items]
Percentage of Tenants Open for Business		88.00%	86.00%	74.00%
Core Portfolio | Subsequent Event
Subsequent Event [Line Items]
Percentage of Tenants Open for Business	89.00%
Opportunity Funds
Subsequent Event [Line Items]
Percentage of Tenants Open for Business		82.00%	88.00%	74.00%
Opportunity Funds | Subsequent Event
Subsequent Event [Line Items]
Percentage of Tenants Open for Business	85.00%

Subsequent Events -Schedule of

Subsequent Events -Schedule of Rent Collections (Details) - COVID-19	Jan. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Core Portfolio | Second Quarter 2020
Subsequent Event [Line Items]
Percentage of rent collections		76.00%	74.00%
Core Portfolio | Third Quarter 2020
Subsequent Event [Line Items]
Percentage of rent collections		87.00%	85.00%
Core Portfolio | Fourth Quarter 2020
Subsequent Event [Line Items]
Percentage of rent collections		91.00%
Core Portfolio | Fourth Quarter 2020 | Subsequent Event
Subsequent Event [Line Items]
Percentage of rent collections	92.00%
Opportunity Funds | Second Quarter 2020
Subsequent Event [Line Items]
Percentage of rent collections		67.00%	65.00%
Opportunity Funds | Third Quarter 2020
Subsequent Event [Line Items]
Percentage of rent collections		79.00%	77.00%
Opportunity Funds | Fourth Quarter 2020
Subsequent Event [Line Items]
Percentage of rent collections		82.00%
Opportunity Funds | Fourth Quarter 2020 | Subsequent Event
Subsequent Event [Line Items]
Percentage of rent collections	84.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)	Sep. 01, 2021USD ($)	Feb. 16, 2021USD ($)	Feb. 12, 2021USD ($)	Jan. 29, 2021USD ($)	Jan. 04, 2021USD ($)Outparcel	Jan. 31, 2021USD ($)AgreementStore	Dec. 31, 2020USD ($)Agreement	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Oct. 08, 2019USD ($)
Subsequent Event [Line Items]
Percentage of annual base rent							0.90%
Proceeds from the disposition of properties, net							$ 20,930,000	$ 88,738,000	$ 63,866,000
Principal payments on mortgages payable							55,449,000	$ 168,211,000	$ 81,726,000
Maximum borrowing capacity										$ 750,000,000
Fund IV | Bridge facility
Subsequent Event [Line Items]
Maximum borrowing capacity							$ 79,200,000
Maturity date							Jun. 30, 2021
Fund IV | Bridge facility | Scenario Forecast
Subsequent Event [Line Items]
Repayments of debt	$ 5,000,000
Core Portfolio
Subsequent Event [Line Items]
Repayments of debt							$ 26,300,000
COVID-19
Subsequent Event [Line Items]
Number of rent concession agreements | Agreement							288
Number of rent concession agreements for rent deferral | Agreement							226
Subsequent Event | Fund V | Disposed of by sale
Subsequent Event [Line Items]
Number of outparcels sold at unconsolidated property | Outparcel					2
Proceeds from the disposition of properties, net					$ 10,500,000
Repayments of mortgage on property					$ 7,900,000
Subsequent Event | Fund IV | Mortgages
Subsequent Event [Line Items]
Debt instrument, maturity date			Feb. 28, 2022
Principal payments on mortgages payable			$ 1,700,000
Subsequent Event | Fund IV | Bridge facility
Subsequent Event [Line Items]
Repayments of debt		$ 10,000,000
Maturity date		Dec. 31, 2021
Line of credit facility option to extend maturity date		Jun. 30, 2022
Additional repayments of lines of credit		$ 5,000,000
Subsequent Event | Core Portfolio | Disposed of by sale | 60 Orange Street
Subsequent Event [Line Items]
Proceeds from the disposition of properties, net				$ 16,400,000
Repayments of mortgage on property				$ 6,700,000
Subsequent Event | COVID-19
Subsequent Event [Line Items]
Number of rent concession agreements | Agreement						13
Number of rent concession agreements for rent deferral | Agreement						5
Number of rent concession agreements for rent forgiveness | Agreement						8
Subsequent Event | COVID-19 | Core Portfolio
Subsequent Event [Line Items]
Number of stores | Store						4
Annual base rent amount						$ 1,200,000
Percentage of annual base rent						0.90%
Subsequent Event | COVID-19 | Fund Portfolio
Subsequent Event [Line Items]
Number of stores | Store						7
Annual base rent amount						$ 200,000
Percentage of annual base rent						0.80%

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for deferred tax asset
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 1,748	$ 0	$ 1,530
Charged to Expenses	0	0	0
Adjustments to Valuation Accounts	851	1,748	(1,530)
Deductions	0	0	0
Balance at End of Year	2,599	1,748	0
Allowance for uncollectible accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	11,408	7,921	5,920
Charged to Expenses	46,844	4,402	2,532
Adjustments to Valuation Accounts	(12,844)	(915)	(531)
Deductions	0	0	0
Balance at End of Year	45,408	11,408	7,921
Allowance for notes receivable
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	0	0	0
Charged to Expenses	250	0	0
Adjustments to Valuation Accounts	0	0	0
Deductions	0	0	0
Balance at End of Year	650	0	$ 0
Allowance for notes receivable | ASU 2019-05
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 400
Balance at End of Year		$ 400

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, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,125,356
Initial Cost to Company of Land	867,524
Initial Cost to Company of Buildings and Improvements	2,395,406
Increase (Decrease) in Net Investments	831,358
Carrying Amount of Land	859,421
Carrying Amount of Buildings and Improvements	3,234,867
Total Carrying Amount	4,094,288	$ 4,039,536	$ 3,697,805	$ 3,466,482
Accumulated Depreciation	586,800	490,227	$ 416,657	$ 339,862
Unamortized Loan Costs	(6,507)
Unamortized Premium	548	651
Real estate, federal income tax basis	4,200,000
Right-of-use assets - operating leases, net	$ 76,268	$ 60,006
Buildings
Real Estate And Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Real Estate Under Development
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 37,190
Initial Cost to Company of Land	73,469
Initial Cost to Company of Buildings and Improvements	25,347
Increase (Decrease) in Net Investments	148,533
Carrying Amount of Land	83,146
Carrying Amount of Buildings and Improvements	164,203
Total Carrying Amount	247,349
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	3,357
Carrying Amount of Land	1,147
Carrying Amount of Buildings and Improvements	10,782
Total Carrying Amount	11,929
Accumulated Depreciation	$ 8,766
Life on which Depreciation in Latest Statement of Operations 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	14,736
Carrying Amount of Land	505
Carrying Amount of Buildings and Improvements	18,897
Total Carrying Amount	19,402
Accumulated Depreciation	$ 16,143
Life on which Depreciation in Latest Statement of Operations 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	$ 3,074
Life on which Depreciation in Latest Statement of Operations 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	$ 5,298
Life on which Depreciation in Latest Statement of Operations 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	12,515
Carrying Amount of Land	1,664
Carrying Amount of Buildings and Improvements	12,515
Total Carrying Amount	14,179
Accumulated Depreciation	$ 10,658
Life on which Depreciation in Latest Statement of Operations 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	$ 4,444
Life on which Depreciation in Latest Statement of Operations 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	22,705
Carrying Amount of Land	3,207
Carrying Amount of Buildings and Improvements	36,479
Total Carrying Amount	39,686
Accumulated Depreciation	$ 25,390
Life on which Depreciation in Latest Statement of Operations 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	18,143
Carrying Amount of Land	3,798
Carrying Amount of Buildings and Improvements	30,585
Total Carrying Amount	34,383
Accumulated Depreciation	$ 20,969
Life on which Depreciation in Latest Statement of Operations 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	6,269
Carrying Amount of Land	4,288
Carrying Amount of Buildings and Improvements	23,421
Total Carrying Amount	27,709
Accumulated Depreciation	$ 14,854
Life on which Depreciation in Latest Statement of Operations 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	5,193
Carrying Amount of Land	2,577
Carrying Amount of Buildings and Improvements	15,483
Total Carrying Amount	18,060
Accumulated Depreciation	$ 9,548
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 239 Greenwich Avenue Greenwich, CT
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 26,212
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	$ 9,190
Life on which Depreciation in Latest Statement of Operations 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	5,308
Carrying Amount of Land	1,793
Carrying Amount of Buildings and Improvements	12,480
Total Carrying Amount	14,273
Accumulated Depreciation	$ 6,374
Life on which Depreciation in Latest Statement of Operations 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	5,238
Carrying Amount of Land	3,229
Carrying Amount of Buildings and Improvements	18,155
Total Carrying Amount	21,384
Accumulated Depreciation	$ 11,063
Life on which Depreciation in Latest Statement of Operations 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	8,008
Carrying Amount of Land	907
Carrying Amount of Buildings and Improvements	11,489
Total Carrying Amount	12,396
Accumulated Depreciation	$ 9,505
Life on which Depreciation in Latest Statement of Operations 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	16,470
Carrying Amount of Land	3,401
Carrying Amount of Buildings and Improvements	28,770
Total Carrying Amount	32,171
Accumulated Depreciation	$ 15,894
Life on which Depreciation in Latest Statement of Operations 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	$ 3,057
Life on which Depreciation in Latest Statement of Operations 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	12,751
Carrying Amount of Land	1,273
Carrying Amount of Buildings and Improvements	17,842
Total Carrying Amount	19,115
Accumulated Depreciation	$ 11,258
Life on which Depreciation in Latest Statement of Operations 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	2,254
Carrying Amount of Land	2,350
Carrying Amount of Buildings and Improvements	11,658
Total Carrying Amount	14,008
Accumulated Depreciation	$ 6,827
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | Brandywine Portfolio
Real Estate And Accumulated Depreciation [Line Items]
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	$ 8,002
Life on which Depreciation in Latest Statement of Operations 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	1,331
Carrying Amount of Land	1,691
Carrying Amount of Buildings and Improvements	7,134
Total Carrying Amount	8,825
Accumulated Depreciation	$ 3,647
Life on which Depreciation in Latest Statement of Operations 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	3,195
Carrying Amount of Buildings and Improvements	15,104
Total Carrying Amount	15,104
Accumulated Depreciation	$ 8,911
Life on which Depreciation in Latest Statement of Operations 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	$ 5,372
Life on which Depreciation in Latest Statement of Operations 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	5,231
Carrying Amount of Land	11,855
Carrying Amount of Buildings and Improvements	12,522
Total Carrying Amount	24,377
Accumulated Depreciation	$ 3,778
Life on which Depreciation in Latest Statement of Operations 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	62
Carrying Amount of Land	3,380
Carrying Amount of Buildings and Improvements	13,561
Total Carrying Amount	16,941
Accumulated Depreciation	$ 5,259
Life on which Depreciation in Latest Statement of Operations 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	1,308
Carrying Amount of Land	16,699
Carrying Amount of Buildings and Improvements	20,012
Total Carrying Amount	36,711
Accumulated Depreciation	$ 7,290
Life on which Depreciation in Latest Statement of Operations 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	6,145
Carrying Amount of Land	3,048
Carrying Amount of Buildings and Improvements	13,426
Total Carrying Amount	16,474
Accumulated Depreciation	$ 8,502
Life on which Depreciation in Latest Statement of Operations 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	15
Carrying Amount of Land	8,576
Carrying Amount of Buildings and Improvements	17,271
Total Carrying Amount	25,847
Accumulated Depreciation	$ 4,136
Life on which Depreciation in Latest Statement of Operations 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	$ 590
Life on which Depreciation in Latest Statement of Operations 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	$ 1,179
Life on which Depreciation in Latest Statement of Operations 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	2,666
Carrying Amount of Land	994
Carrying Amount of Buildings and Improvements	8,792
Total Carrying Amount	9,786
Accumulated Depreciation	$ 534
Life on which Depreciation in Latest Statement of Operations 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	$ 647
Life on which Depreciation in Latest Statement of Operations 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	$ 451
Life on which Depreciation in Latest Statement of Operations 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	$ 366
Life on which Depreciation in Latest Statement of Operations 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	$ 187
Life on which Depreciation in Latest Statement of Operations 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	$ 688
Life on which Depreciation in Latest Statement of Operations 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	2,209
Carrying Amount of Land	7,458
Carrying Amount of Buildings and Improvements	18,177
Total Carrying Amount	25,635
Accumulated Depreciation	$ 4,615
Life on which Depreciation in Latest Statement of Operations 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	$ 114
Life on which Depreciation in Latest Statement of Operations 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	$ 3,191
Life on which Depreciation in Latest Statement of Operations 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	$ 682
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 28 Jericho Turnpike Westbury, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 12,895
Initial Cost to Company of Land	6,220
Initial Cost to Company of Buildings and Improvements	24,416
Increase (Decrease) in Net Investments	34
Carrying Amount of Land	6,220
Carrying Amount of Buildings and Improvements	24,450
Total Carrying Amount	30,670
Accumulated Depreciation	$ 5,496
Life on which Depreciation in Latest Statement of Operations 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	711
Carrying Amount of Land	1,480
Carrying Amount of Buildings and Improvements	4,049
Total Carrying Amount	5,529
Accumulated Depreciation	$ 890
Life on which Depreciation in Latest Statement of Operations 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	$ 2,613
Life on which Depreciation in Latest Statement of Operations 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	$ 1,119
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	1
Carrying Amount of Land	1,754
Carrying Amount of Buildings and Improvements	9,201
Total Carrying Amount	10,955
Accumulated Depreciation	$ 1,955
Life on which Depreciation in Latest Statement of Operations 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	$ 961
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 60 Orange Street
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 6,727
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	$ 2,454
Life on which Depreciation in Latest Statement of Operations 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	576
Carrying Amount of Land	2,848
Carrying Amount of Buildings and Improvements	13,270
Total Carrying Amount	16,118
Accumulated Depreciation	$ 2,985
Life on which Depreciation in Latest Statement of Operations 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	1,167
Carrying Amount of Land	11,690
Carrying Amount of Buildings and Improvements	11,302
Total Carrying Amount	22,992
Accumulated Depreciation	$ 2,567
Life on which Depreciation in Latest Statement of Operations 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	$ 324
Life on which Depreciation in Latest Statement of Operations 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	1,082
Carrying Amount of Land	4,429
Carrying Amount of Buildings and Improvements	7,184
Total Carrying Amount	11,613
Accumulated Depreciation	$ 1,735
Life on which Depreciation in Latest Statement of Operations 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	$ 471
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	302
Carrying Amount of Land	15,240
Carrying Amount of Buildings and Improvements	65,633
Total Carrying Amount	80,873
Accumulated Depreciation	$ 12,866
Life on which Depreciation in Latest Statement of Operations 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	$ 258
Life on which Depreciation in Latest Statement of Operations 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	977
Carrying Amount of Land	5,398
Carrying Amount of Buildings and Improvements	16,578
Total Carrying Amount	21,976
Accumulated Depreciation	$ 3,425
Life on which Depreciation in Latest Statement of Operations 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	$ 127
Life on which Depreciation in Latest Statement of Operations 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	$ 965
Life on which Depreciation in Latest Statement of Operations 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	1,357
Carrying Amount of Land	2,137
Carrying Amount of Buildings and Improvements	2,946
Total Carrying Amount	5,083
Accumulated Depreciation	$ 587
Life on which Depreciation in Latest Statement of Operations 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	$ 1,637
Life on which Depreciation in Latest Statement of Operations 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	43
Carrying Amount of Land	1,318
Carrying Amount of Buildings and Improvements	8,511
Total Carrying Amount	9,829
Accumulated Depreciation	$ 1,717
Life on which Depreciation in Latest Statement of Operations 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	$ 1,563
Life on which Depreciation in Latest Statement of Operations 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	142
Carrying Amount of Land	790
Carrying Amount of Buildings and Improvements	1,408
Total Carrying Amount	2,198
Accumulated Depreciation	$ 386
Life on which Depreciation in Latest Statement of Operations 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	1,167
Carrying Amount of Buildings and Improvements	33,986
Total Carrying Amount	33,986
Accumulated Depreciation	$ 4,009
Life on which Depreciation in Latest Statement of Operations 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	784
Carrying Amount of Land	16,744
Carrying Amount of Buildings and Improvements	29,130
Total Carrying Amount	45,874
Accumulated Depreciation	$ 5,124
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 330-340 River St Cambridge, MA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 10,875
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	$ 3,282
Life on which Depreciation in Latest Statement of Operations 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	1,740
Carrying Amount of Land	4,578
Carrying Amount of Buildings and Improvements	4,385
Total Carrying Amount	8,963
Accumulated Depreciation	$ 601
Life on which Depreciation in Latest Statement of Operations 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	3,729
Carrying Amount of Land	1,893
Carrying Amount of Buildings and Improvements	15,323
Total Carrying Amount	17,216
Accumulated Depreciation	$ 1,983
Life on which Depreciation in Latest Statement of Operations 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	177
Carrying Amount of Land	8,544
Carrying Amount of Buildings and Improvements	27,178
Total Carrying Amount	35,722
Accumulated Depreciation	$ 4,615
Life on which Depreciation in Latest Statement of Operations 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	$ 1,855
Life on which Depreciation in Latest Statement of Operations 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	958
Carrying Amount of Land	10,175
Carrying Amount of Buildings and Improvements	13,599
Total Carrying Amount	23,774
Accumulated Depreciation	$ 2,404
Life on which Depreciation in Latest Statement of Operations 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	4,445
Carrying Amount of Land	13,763
Carrying Amount of Buildings and Improvements	35,837
Total Carrying Amount	49,600
Accumulated Depreciation	$ 6,381
Life on which Depreciation in Latest Statement of Operations 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	592
Carrying Amount of Buildings and Improvements	58,128
Total Carrying Amount	58,128
Accumulated Depreciation	$ 17,475
Life on which Depreciation in Latest Statement of Operations 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	1,814
Carrying Amount of Land	20,264
Carrying Amount of Buildings and Improvements	34,945
Total Carrying Amount	55,209
Accumulated Depreciation	$ 5,580
Life on which Depreciation in Latest Statement of Operations 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	$ 768
Life on which Depreciation in Latest Statement of Operations 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	(20,435)
Carrying Amount of Land	26,386
Carrying Amount of Buildings and Improvements	98,340
Total Carrying Amount	124,726
Accumulated Depreciation	$ 17,050
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 163 Highland Avenue Needham, MA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 8,298
Initial Cost to Company of Land	12,679
Initial Cost to Company of Buildings and Improvements	11,213
Increase (Decrease) in Net Investments	(107)
Carrying Amount of Land	12,529
Carrying Amount of Buildings and Improvements	11,256
Total Carrying Amount	23,785
Accumulated Depreciation	$ 1,775
Life on which Depreciation in Latest Statement of Operations 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	79
Carrying Amount of Land	4,838
Carrying Amount of Buildings and Improvements	14,653
Total Carrying Amount	19,491
Accumulated Depreciation	$ 1,957
Life on which Depreciation in Latest Statement of Operations 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	$ 1,463
Life on which Depreciation in Latest Statement of Operations 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	$ 464
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | Concord & Milwaukee - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,568
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	$ 380
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | State & Washington - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 23,298
Initial Cost to Company of Land	3,907
Initial Cost to Company of Buildings and Improvements	70,943
Increase (Decrease) in Net Investments	6,225
Carrying Amount of Land	3,907
Carrying Amount of Buildings and Improvements	77,168
Total Carrying Amount	81,075
Accumulated Depreciation	$ 8,505
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 151 N. State Street Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 13,253
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	$ 2,819
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | North & Kingsbury - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 11,756
Initial Cost to Company of Land	18,731
Initial Cost to Company of Buildings and Improvements	16,292
Increase (Decrease) in Net Investments	664
Carrying Amount of Land	18,731
Carrying Amount of Buildings and Improvements	16,956
Total Carrying Amount	35,687
Accumulated Depreciation	$ 1,868
Life on which Depreciation in Latest Statement of Operations 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	1,481
Carrying Amount of Land	13,443
Carrying Amount of Buildings and Improvements	138,808
Total Carrying Amount	152,251
Accumulated Depreciation	$ 15,288
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | California & Armitage - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,428
Initial Cost to Company of Land	6,770
Initial Cost to Company of Buildings and Improvements	2,292
Increase (Decrease) in Net Investments	4
Carrying Amount of Land	6,770
Carrying Amount of Buildings and Improvements	2,296
Total Carrying Amount	9,066
Accumulated Depreciation	$ 274
Life on which Depreciation in Latest Statement of Operations 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	278
Carrying Amount of Land	75,591
Carrying Amount of Buildings and Improvements	73,546
Total Carrying Amount	149,137
Accumulated Depreciation	$ 7,707
Life on which Depreciation in Latest Statement of Operations 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	312
Carrying Amount of Land	8,100
Carrying Amount of Buildings and Improvements	31,533
Total Carrying Amount	39,633
Accumulated Depreciation	$ 2,680
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
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	(75,359)
Carrying Amount of Buildings and Improvements	1,606
Total Carrying Amount	1,606
Accumulated Depreciation	$ 359
Life on which Depreciation in Latest Statement of Operations 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	11,123
Carrying Amount of Land	10,061
Carrying Amount of Buildings and Improvements	13,896
Total Carrying Amount	23,957
Accumulated Depreciation	$ 3,689
Life on which Depreciation in Latest Statement of Operations 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	$ 412
Life on which Depreciation in Latest Statement of Operations 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	$ 533
Life on which Depreciation in Latest Statement of Operations 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	$ 379
Life on which Depreciation in Latest Statement of Operations 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	$ 594
Life on which Depreciation in Latest Statement of Operations 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	$ 96
Life on which Depreciation in Latest Statement of Operations 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	$ 100
Life on which Depreciation in Latest Statement of Operations 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	$ 784
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	2
Carrying Amount of Land	2,903
Carrying Amount of Buildings and Improvements	8,489
Total Carrying Amount	11,392
Accumulated Depreciation	$ 248
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	12
Carrying Amount of Buildings and Improvements	22,503
Total Carrying Amount	22,503
Accumulated Depreciation	$ 609
Life on which Depreciation in Latest Statement of Operations 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	$ 62
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 37 Greene Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 6,721
Initial Cost to Company of Buildings and Improvements	9,119
Carrying Amount of Land	6,721
Carrying Amount of Buildings and Improvements	9,119
Total Carrying Amount	15,840
Accumulated Depreciation	$ 228
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | 917 W Armitage Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 901
Initial Cost to Company of Buildings and Improvements	2,368
Carrying Amount of Land	901
Carrying Amount of Buildings and Improvements	2,368
Total Carrying Amount	3,269
Accumulated Depreciation	$ 59
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Core Portfolio | Brandywine Town Center Wilmington, DE
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 15,632
Initial Cost to Company of Buildings and Improvements	101,861
Increase (Decrease) in Net Investments	72
Carrying Amount of Land	15,632
Carrying Amount of Buildings and Improvements	101,933
Total Carrying Amount	117,565
Accumulated Depreciation	$ 2,192
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund II | City Point Brooklyn, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 247,086
Initial Cost to Company of Buildings and Improvements	100,316
Increase (Decrease) in Net Investments	466,763
Carrying Amount of Buildings and Improvements	567,079
Total Carrying Amount	567,079
Accumulated Depreciation	$ 76,384
Life on which Depreciation in Latest Statement of Operations 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	(2,126)
Carrying Amount of Land	5,034
Carrying Amount of Buildings and Improvements	5,534
Total Carrying Amount	10,568
Accumulated Depreciation	$ 1,853
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund III | 640 Broadway Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 35,970
Initial Cost to Company of Land	12,503
Initial Cost to Company of Buildings and Improvements	19,960
Increase (Decrease) in Net Investments	16,526
Carrying Amount of Land	12,503
Carrying Amount of Buildings and Improvements	36,486
Total Carrying Amount	48,989
Accumulated Depreciation	$ 8,203
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund III | Cortlandt Crossing, Mohegan Lake, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 35,948
Initial Cost to Company of Land	11,000
Increase (Decrease) in Net Investments	41,666
Carrying Amount of Land	8,648
Carrying Amount of Buildings and Improvements	44,018
Total Carrying Amount	52,666
Accumulated Depreciation	$ 3,162
Life on which Depreciation in Latest Statement of Operations 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	(3,500)
Carrying Amount of Land	1,875
Carrying Amount of Buildings and Improvements	2,125
Total Carrying Amount	4,000
Accumulated Depreciation	$ 109
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Paramus Plaza Paramus, NJ
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 20,810
Initial Cost to Company of Land	11,052
Initial Cost to Company of Buildings and Improvements	7,037
Increase (Decrease) in Net Investments	14,946
Carrying Amount of Land	11,052
Carrying Amount of Buildings and Improvements	21,983
Total Carrying Amount	33,035
Accumulated Depreciation	$ 5,160
Life on which Depreciation in Latest Statement of Operations 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	8,424
Carrying Amount of Land	4,813
Carrying Amount of Buildings and Improvements	22,862
Total Carrying Amount	27,675
Accumulated Depreciation	$ 1,781
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | 17 E. 71st Street Manhattan, NY
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 15,385
Initial Cost to Company of Land	7,391
Initial Cost to Company of Buildings and Improvements	20,176
Increase (Decrease) in Net Investments	322
Carrying Amount of Land	7,391
Carrying Amount of Buildings and Improvements	20,498
Total Carrying Amount	27,889
Accumulated Depreciation	$ 3,281
Life on which Depreciation in Latest Statement of Operations 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	5,753
Carrying Amount of Land	14,099
Carrying Amount of Buildings and Improvements	41,844
Total Carrying Amount	55,943
Accumulated Depreciation	$ 6,880
Life on which Depreciation in Latest Statement of Operations 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	(5,185)
Carrying Amount of Land	2,922
Carrying Amount of Buildings and Improvements	24,541
Total Carrying Amount	27,463
Accumulated Depreciation	$ 2,599
Life on which Depreciation in Latest Statement of Operations 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	137
Carrying Amount of Land	3,027
Carrying Amount of Buildings and Improvements	6,513
Total Carrying Amount	9,540
Accumulated Depreciation	$ 840
Life on which Depreciation in Latest Statement of Operations 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	125
Carrying Amount of Land	1,498
Carrying Amount of Buildings and Improvements	1,860
Total Carrying Amount	3,358
Accumulated Depreciation	$ 249
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | 1964 Union Street San Francisco, CA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,456
Initial Cost to Company of Land	563
Initial Cost to Company of Buildings and Improvements	1,688
Increase (Decrease) in Net Investments	2,056
Carrying Amount of Land	563
Carrying Amount of Buildings and Improvements	3,744
Total Carrying Amount	4,307
Accumulated Depreciation	$ 305
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Restaurants at Fort Point - Boston, MA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,958
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	$ 1,391
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Wake Forest Crossing - Wake Forest, NC
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 22,949
Initial Cost to Company of Land	7,570
Initial Cost to Company of Buildings and Improvements	24,829
Increase (Decrease) in Net Investments	574
Carrying Amount of Land	7,570
Carrying Amount of Buildings and Improvements	25,403
Total Carrying Amount	32,973
Accumulated Depreciation	$ 3,438
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Airport Mall - Bangor, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,186
Initial Cost to Company of Land	2,294
Initial Cost to Company of Buildings and Improvements	7,067
Increase (Decrease) in Net Investments	2,534
Carrying Amount of Land	2,006
Carrying Amount of Buildings and Improvements	9,889
Total Carrying Amount	11,895
Accumulated Depreciation	$ 1,193
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Dauphin Plaza - Harrisburg, PA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 12,466
Initial Cost to Company of Land	5,290
Initial Cost to Company of Buildings and Improvements	9,464
Increase (Decrease) in Net Investments	3,069
Carrying Amount of Land	5,290
Carrying Amount of Buildings and Improvements	12,533
Total Carrying Amount	17,823
Accumulated Depreciation	$ 2,089
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Mayfair Shopping Center - Philadelphia, PA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 11,597
Initial Cost to Company of Land	6,178
Initial Cost to Company of Buildings and Improvements	9,266
Increase (Decrease) in Net Investments	1,095
Carrying Amount of Land	6,178
Carrying Amount of Buildings and Improvements	10,361
Total Carrying Amount	16,539
Accumulated Depreciation	$ 1,344
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Shaw's Plaza Waterville, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 7,478
Initial Cost to Company of Land	828
Initial Cost to Company of Buildings and Improvements	11,814
Increase (Decrease) in Net Investments	271
Carrying Amount of Land	828
Carrying Amount of Buildings and Improvements	12,085
Total Carrying Amount	12,913
Accumulated Depreciation	$ 1,418
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Wells Plaza - Wells, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,587
Initial Cost to Company of Land	1,892
Initial Cost to Company of Buildings and Improvements	2,585
Increase (Decrease) in Net Investments	484
Carrying Amount of Land	1,892
Carrying Amount of Buildings and Improvements	3,069
Total Carrying Amount	4,961
Accumulated Depreciation	$ 540
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | 717 N Michigan - Chicago, IL
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 14,810
Initial Cost to Company of Land	20,674
Initial Cost to Company of Buildings and Improvements	10,093
Increase (Decrease) in Net Investments	(4,251)
Carrying Amount of Land	17,652
Carrying Amount of Buildings and Improvements	8,864
Total Carrying Amount	26,516
Accumulated Depreciation	$ 1,021
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | Shaw's Plaza North Windham, ME
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 5,551
Initial Cost to Company of Land	1,876
Initial Cost to Company of Buildings and Improvements	6,696
Increase (Decrease) in Net Investments	56
Carrying Amount of Land	1,876
Carrying Amount of Buildings and Improvements	6,752
Total Carrying Amount	8,628
Accumulated Depreciation	$ 657
Life on which Depreciation in Latest Statement of Operations 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	2,098
Carrying Amount of Land	7,149
Carrying Amount of Buildings and Improvements	24,299
Total Carrying Amount	31,448
Accumulated Depreciation	$ 2,872
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	22
Carrying Amount of Land	609
Carrying Amount of Buildings and Improvements	1,535
Total Carrying Amount	2,144
Accumulated Depreciation	$ 87
Life on which Depreciation in Latest Statement of Operations 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	$ 53
Life on which Depreciation in Latest Statement of Operations 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	362
Carrying Amount of Land	1,324
Carrying Amount of Buildings and Improvements	2,821
Total Carrying Amount	4,145
Accumulated Depreciation	$ 197
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	271
Carrying Amount of Land	2,343
Carrying Amount of Buildings and Improvements	6,831
Total Carrying Amount	9,174
Accumulated Depreciation	$ 387
Life on which Depreciation in Latest Statement of Operations 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	$ 30
Life on which Depreciation in Latest Statement of Operations 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	2,179
Carrying Amount of Land	1,160
Carrying Amount of Buildings and Improvements	4,915
Total Carrying Amount	6,075
Accumulated Depreciation	$ 218
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	1,109
Carrying Amount of Land	619
Carrying Amount of Buildings and Improvements	2,908
Total Carrying Amount	3,527
Accumulated Depreciation	$ 165
Life on which Depreciation in Latest Statement of Operations 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	$ 39
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	34
Carrying Amount of Land	660
Carrying Amount of Buildings and Improvements	1,934
Total Carrying Amount	2,594
Accumulated Depreciation	$ 110
Life on which Depreciation in Latest Statement of Operations 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	$ 152
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	(361)
Carrying Amount of Buildings and Improvements	1,009
Total Carrying Amount	1,009
Accumulated Depreciation	$ 60
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | 230-240 W. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Land	$ 2,185
Initial Cost to Company of Buildings and Improvements	9,597
Increase (Decrease) in Net Investments	4
Carrying Amount of Land	2,185
Carrying Amount of Buildings and Improvements	9,601
Total Carrying Amount	11,786
Accumulated Depreciation	$ 140
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | 102 E. Broughton St. Savannah, GA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company of Buildings and Improvements	$ 514
Carrying Amount of Buildings and Improvements	514
Total Carrying Amount	514
Accumulated Depreciation	$ 7
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund IV | 146 Geary St. San Francisco, CA
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 22,900
Initial Cost to Company of Land	9,500
Initial Cost to Company of Buildings and Improvements	28,500
Increase (Decrease) in Net Investments	(227)
Carrying Amount of Land	8,037
Carrying Amount of Buildings and Improvements	29,736
Total Carrying Amount	37,773
Accumulated Depreciation	$ 186
Life on which Depreciation in Latest Statement of Operations 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	680
Carrying Amount of Buildings and Improvements	28,894
Total Carrying Amount	28,894
Accumulated Depreciation	$ 2,886
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund V | Hickory Ridge - Hickory, NC
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 29,876
Initial Cost to Company of Land	7,852
Initial Cost to Company of Buildings and Improvements	29,998
Increase (Decrease) in Net Investments	1,472
Carrying Amount of Land	7,852
Carrying Amount of Buildings and Improvements	31,470
Total Carrying Amount	39,322
Accumulated Depreciation	$ 3,140
Life on which Depreciation in Latest Statement of Operations is Compared	40 years
Opportunity Funds | Fund V | New Towne Plaza - Canton, MI
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 16,688
Initial Cost to Company of Land	5,040
Initial Cost to Company of Buildings and Improvements	17,391
Increase (Decrease) in Net Investments	726
Carrying Amount of Land	5,040
Carrying Amount of Buildings and Improvements	18,117
Total Carrying Amount	23,157
Accumulated Depreciation	$ 1,756
Life on which Depreciation in Latest Statement of Operations 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	4
Carrying Amount of Land	18,121
Carrying Amount of Buildings and Improvements	37,467
Total Carrying Amount	55,588
Accumulated Depreciation	$ 3,096
Life on which Depreciation in Latest Statement of Operations 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	43
Carrying Amount of Land	7,587
Carrying Amount of Buildings and Improvements	34,328
Total Carrying Amount	41,915
Accumulated Depreciation	$ 2,652
Life on which Depreciation in Latest Statement of Operations 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	494
Carrying Amount of Land	6,204
Carrying Amount of Buildings and Improvements	48,502
Total Carrying Amount	54,706
Accumulated Depreciation	$ 3,079
Life on which Depreciation in Latest Statement of Operations 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	259
Carrying Amount of Land	13,029
Carrying Amount of Buildings and Improvements	25,705
Total Carrying Amount	38,734
Accumulated Depreciation	$ 1,800
Life on which Depreciation in Latest Statement of Operations 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
Increase (Decrease) in Net Investments	314
Carrying Amount of Land	7,066
Carrying Amount of Buildings and Improvements	27,613
Total Carrying Amount	34,679
Accumulated Depreciation	$ 1,393
Life on which Depreciation in Latest Statement of Operations 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	316
Carrying Amount of Land	14,429
Carrying Amount of Buildings and Improvements	34,733
Total Carrying Amount	49,162
Accumulated Depreciation	$ 1,561
Life on which Depreciation in Latest Statement of Operations 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	10,222
Initial Cost to Company of Buildings and Improvements	69,005
Increase (Decrease) in Net Investments	676
Carrying Amount of Land	10,222
Carrying Amount of Buildings and Improvements	69,681
Total Carrying Amount	79,903
Accumulated Depreciation	$ 2,632
Life on which Depreciation in Latest Statement of Operations 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Balance at beginning of year	$ 4,039,536	$ 3,697,805	$ 3,466,482
Improvements and other	75,246	97,000	99,594
Property acquisitions	19,109	303,884	134,559
Property dispositions or held for sale assets	(19,659)	(84,243)	(34,666)
Right-of-use assets - finance leases obtained and reclassified	(76,965)	102,055
Capital lease reclassified as Right-of-use assets - finance lease		(76,965)
Consolidation of previously unconsolidated investments	129,863		31,836
Impairment charges	(72,842)
Balance at end of year	$ 4,094,288	$ 4,039,536	$ 3,697,805

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Balance at beginning of year	$ 490,227	$ 416,657	$ 339,862
Depreciation related to real estate	104,049	85,317	78,453
Property dispositions	(939)	(11,747)	(1,658)
Right-of-use assets - finance leases reclassified	(6,537)
Balance at end of year	$ 586,800	$ 490,227	$ 416,657

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, 2020	Dec. 31, 2019
Mortgage Loans on Real Estate [Line Items]
Face Amount of Notes Receivable	$ 102,108
Notes receivable	102,100	$ 114,943
Allowance for credit loss	(650)
Notes receivable, net	$ 101,450	$ 114,943
First Mortgage Loan, 6.00% Loan, Due 4/1/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	6.00%
Face Amount of Notes Receivable	$ 17,810
Notes receivable	$ 17,802
Mezzanine Loan, 6.00% Loan, Due 7/1/2020
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	18.00%
Face Amount of Notes Receivable	$ 5,306
Notes receivable	$ 5,306
First Mortgage Loan, 5.50% Loan, Due 10/28/2021
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	5.50%
Face Amount of Notes Receivable	$ 13,530
Notes receivable	$ 13,530
Mezzanine Loan 9.00% Loan Due 1/13/2023
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	9.00%
Face Amount of Notes Receivable	$ 54,000
Notes receivable	$ 54,000
Other, 4.65% Loan, Due 4/12/2026
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	4.65%
Face Amount of Notes Receivable	$ 6,000
Notes receivable	$ 6,000
Other, 4.82% Loan, Due 4/10/2021
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	3.16%
Face Amount of Notes Receivable	$ 462
Notes receivable	$ 462
Mezzanine Loan 8.00% Loan, Due 12/11/2027
Mortgage Loans on Real Estate [Line Items]
Effective Interest Rate	8.00%
Face Amount of Notes Receivable	$ 5,000
Notes receivable	$ 5,000

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	$ 114,943	$ 111,775	$ 160,991
Additions	59,585	18,418	3,805
Repayments		(15,250)	(31,000)
Conversion to real estate through receipt of deed	(72,428)		(22,021)
Allowance for credit loss	(650)
Balance at end of year	$ 101,450	$ 114,943	$ 111,775