Acadia Realty Trust (AKR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do investimento imobiliário, a Acadia Realty Trust (AKR) se destaca como uma potência estratégica, transformando investimentos em propriedades comerciais em um modelo de negócios meticulosamente criado. Ao alavancar uma abordagem sofisticada que combina oportunidades de mercado urbanas e suburbanas, a AKR cria valor por meio de gerenciamento inovador de propriedades, parcerias estratégicas e um portfólio diversificado que oferece fluxos de renda estáveis ​​e potencial apreciação de capital a longo prazo. Sua tela de negócios exclusiva revela um complexo ecossistema de investimento imobiliário que vai muito além do gerenciamento tradicional de propriedades, oferecendo aos investidores e inquilinos uma abordagem integrada e de visão de futuro ao setor imobiliário comercial.

Acadia Realty Trust (AKR) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com inquilinos nacionais e regionais de varejo

A partir de 2024, a Acadia Realty Trust mantém parcerias com os seguintes inquilinos importantes de varejo:

Inquilino de varejo	Detalhes da parceria	Tipo de propriedade
CVS Pharmacy	Acordos de arrendamento de longo prazo	Centros de varejo
TJ Maxx	Ocupação multi-localização	Shopping centers
Whole Foods Market	Arranjos de inquilinos ancorados	Propriedades de uso misto

Acordos de joint venture com grupos de investimento imobiliário

O portfólio de joint venture da Acadia Realty Trust inclui:

• Total de joint venture ativos avaliados em US $ 1,2 bilhão
• 7 Parcerias de investimento imobiliário ativo
• Foco geográfico nas regiões nordeste e meio do Atlântico

Colaboração com empresas de desenvolvimento e gerenciamento de propriedades

Principais colaborações de desenvolvimento e gerenciamento:

Empresa parceira	Escopo de colaboração	Tipo de projeto
CBRE	Serviços de gerenciamento de propriedades	Propriedades de varejo e uso misto
Jll	Consultoria de desenvolvimento	Projetos de reconstrução urbana

Relacionamento com instituições financeiras para financiamento de capital

As parcerias financeiras atuais incluem:

• JPMorgan Chase: Linha de crédito de US $ 500 milhões
• Bank of America: linha de crédito rotativo de US $ 350 milhões
• Wells Fargo: empréstimo a prazo de US $ 250 milhões

Parcerias com sustentabilidade e consultores de construção verde

Detalhes da parceria de sustentabilidade:

Consultor	Área de foco	Projetos atuais
USGBC	Certificação LEED	6 Projetos de construção verdes em andamento
Grupo de Consultoria de Sustentabilidade	Eficiência energética	Otimização de energia em todo o portfólio

Acadia Realty Trust (AKR) - Modelo de negócios: Atividades -chave

Adquirir e gerenciar propriedades imobiliárias comerciais

No quarto trimestre 2023, a Acadia Realty Trust administrou um portfólio total de propriedades de 4,4 milhões de pés quadrados. O portfólio consistia em 75 propriedades nos Estados Unidos, com uma capitalização de mercado de aproximadamente US $ 2,1 bilhões.

Tipo de propriedade	Número de propriedades	Mágua quadrada total
Propriedades de varejo	62	3,6 milhões de pés quadrados
Propriedades de uso misto	13	0,8 milhão de pés quadrados

Arrendamento de varejo e espaços de uso misto para inquilinos de alta qualidade

Em 2023, a Acadia Realty Trust manteve uma taxa de ocupação de 93,5% em seu portfólio. A lista de inquilinos da empresa incluiu:

• Centros ancorados em supermercados
• Cadeias nacionais de varejo
• Varejistas especializados regionais

Otimização de portfólio e desenvolvimento estratégico de propriedades

Alocação de investimentos para 2023 focada em:

Categoria de investimento	Investimento total	Porcentagem de portfólio
Centros ancorados em supermercados	US $ 750 milhões	35.7%
Varejo especializado	US $ 450 milhões	21.4%

Estratégias de gerenciamento de ativos e aprimoramento de valor

A Acadia Realty Trust implementou estratégias de aprimoramento de valor resultando em:

• Recurso operacional líquido (NOI) Crescimento de 4,2%
• Fundos das operações (FFO) de US $ 127,3 milhões em 2023

Investimento e alocação de capital nos mercados imobiliários direcionados

Distribuição geográfica de investimentos em propriedades em 2023:

Região	Número de propriedades	Investimento total
Nordeste	35	US $ 980 milhões
Meio do atlântico	22	US $ 620 milhões
Sudeste	18	US $ 500 milhões

Acadia Realty Trust (AKR) - Modelo de negócios: Recursos -chave

Portfólio diversificado de propriedades de varejo e uso misto

A partir do quarto trimestre de 2023, a Acadia Realty Trust possui 79 propriedades, totalizando 12,8 milhões de pés quadrados de área arrebatada. A composição da propriedade inclui:

Tipo de propriedade	Número de propriedades	Mágua quadrada total
Varejo ancorado em supermercado	48	7,2 milhões de pés quadrados
Centros urbanos de uso misto	16	3,5 milhões de pés quadrados
Varejo especializado	15	2,1 milhões de pés quadrados

Fortes capital financeiro e capacidades de investimento

Métricas financeiras em 31 de dezembro de 2023:

• Capitalização de mercado total: US $ 2,1 bilhões
• Total de ativos: US $ 3,8 bilhões
• Taxa de dívida / patrimônio: 0,65
• Linha de crédito disponível: US $ 350 milhões

Equipe experiente de gestão e investimento imobiliária

Composição da equipe de gerenciamento:

Posição de liderança	Anos de experiência
CEO	Mais de 25 anos
Diretor Financeiro	Mais de 18 anos
Diretor de Investimento	Mais de 22 anos

Avaliação avançada de propriedade e análise de investimentos

Recursos de análise de investimentos:

• Modelo de avaliação de risco proprietário
• Triagem de investimento de aprendizado de máquina
• Rastreamento de desempenho no mercado em tempo real
• Previsão de ocupação preditiva

Rede robusta de relacionamentos do setor e insights de mercado

Métricas de rede da indústria:

Categoria de relacionamento	Número de conexões
Investidores institucionais	87
Inquilinos nacionais de varejo	132
Parceiros de investimento imobiliário	45

Acadia Realty Trust (AKR) - Modelo de negócios: proposições de valor

Investimentos de propriedade de varejo de alta qualidade, localizados estrategicamente

A partir do quarto trimestre de 2023, a Acadia Realty Trust possui um portfólio total de propriedades avaliado em US $ 3,7 bilhões, com 81 propriedades abrangendo 6,3 milhões de pés quadrados de espaço de varejo.

Categoria de propriedade	Número de propriedades	Mágua quadrada total
Centros ancorados em supermercados	45	3,2 milhões de pés quadrados
Varejo urbano/suburbano	36	3,1 milhões de pés quadrados

Fluxos de renda estáveis ​​e previsíveis de inquilinos premium

Taxa de ocupação a partir do quarto trimestre 2023: 94,5%

• Os 10 principais inquilinos representam 35,6% da receita total de aluguel
• Termo médio de arrendamento: 7,2 anos
• Classificação de crédito médio de inquilino ponderado: BBB+

Potencial para valorização de capital a longo prazo

Retorno total histórico (média de 10 anos): 8,7%

Ano	Retorno total
2021	12.3%
2022	7.9%
2023	9.2%

Portfólio de investimento imobiliário diversificado

Distribuição geográfica das propriedades:

• Nordeste: 62%
• Mid-Atlântico: 23%
• Outras regiões: 15%

Concentre -se nas oportunidades de mercado urbanas e suburbanas

Redução do segmento de mercado:

Tipo de mercado	Porcentagem de portfólio
Centros urbanos	42%
Mercados suburbanos	58%

Acadia Realty Trust (AKR) - Modelo de Negócios: Relacionamentos do Cliente

Acordos de arrendamento de longo prazo com inquilinos nacionais de varejo

A partir do quarto trimestre 2023, a Acadia Realty Trust mantém 102 propriedades totais com um prazo médio de arrendamento de 7,2 anos. O portfólio inclui 36 shopping centers ancorados em supermercados e 66 propriedades urbanas de varejo.

Tipo de inquilino	Número de inquilinos	Duração média do arrendamento
Inquilinos nacionais de varejo	78	8,1 anos
Inquilinos regionais de varejo	24	5,3 anos

Serviços personalizados de gerenciamento de propriedades

A Acadia fornece ao gerenciamento de propriedades dedicadas uma equipe de 45 gerentes de propriedades profissionais que cobrem vários mercados geográficos.

• Programas de melhoria de inquilinos personalizados
• Gerenciamento de conta dedicado para cada inquilino importante
• Serviços de suporte à propriedade 24/7

Comunicação regular e engajamento de inquilinos

As métricas de comunicação para 2023 incluem:

Canal de comunicação	Freqüência	Taxa de engajamento
Reuniões trimestrais de inquilinos	4x por ano	92% de participação
Plataformas de comunicação digital	Mensal	Taxa de interação de 87%

Manutenção responsiva e suporte à propriedade

Métricas de resposta à manutenção para 2023:

• Solicitação de manutenção média Tempo de resolução: 3,2 horas
• Tempo de resposta de emergência: 45 minutos
• Investimento anual de manutenção: US $ 6,3 milhões

Relatórios transparentes e relações de investidores

Estatísticas de comunicação do investidor para 2023:

Métrica de relatório	Freqüência	Pontuação de transparência
Relatórios de ganhos trimestrais	4x por ano	95/100
Chamadas de conferência de investidores	4x por ano	93/100

Acadia Realty Trust (AKR) - Modelo de Negócios: Canais

Equipes diretas de leasing e gerenciamento de propriedades

A partir do quarto trimestre de 2023, a Acadia Realty Trust gerencia um portfólio de 79 propriedades nos Estados Unidos.

Tipo de canal	Número de pessoal	Cobertura geográfica
Equipe direta de leasing	24 profissionais	Regiões nordeste, meio do Atlântico
Equipe de gerenciamento de propriedades	42 profissionais	16 estados

Site corporativo e plataforma de relações com investidores

O site de relações com investidores da Acadia Realty Trust fornece informações abrangentes e financeiras.

• Site visitantes exclusivos por mês: 42.500
• Downloads de apresentação de investidores on -line: 3.750 trimestralmente
• Visualizações de relatório anual digital: 5.200

Conferências de investimento imobiliário e eventos de rede

Tipo de evento	Participação anual	Plataformas de rede -chave
Conferência Nareit	2 apresentações	Engajamento institucional dos investidores
Fóruns imobiliários regionais	4-6 eventos	Interações diretas do investidor

Relatórios financeiros e comunicações trimestrais de investidores

Os ganhos trimestrais chamam a participação e divulgações financeiras detalhadas.

• Recursos trimestrais chamam participantes: 175-225 Investidores institucionais
• Duração média dos ganhos do webcast: 45-55 minutos
• Cobertura de analista: 8 empresas de pesquisa financeira

Plataformas de marketing digital e vitrine de propriedades

Canal digital	Engajamento mensal	Métricas principais de desempenho
Página corporativa do LinkedIn	12.500 seguidores	Pós -engajamento médio: 3,2%
Plataformas de listagem de propriedades	87 listagens de propriedades ativas	Visualizações mensais de propriedade: 6.800

Acadia Realty Trust (AKR) - Modelo de negócios: segmentos de clientes

Inquilinos nacionais da cadeia de varejo

A partir do quarto trimestre de 2023, o portfólio da Acadia Realty Trust inclui inquilinos nacionais de varejo com a seguinte composição:

Categoria de inquilino	Porcentagem de portfólio	Número de inquilinos
Varejo de luxo	22.5%	37
Varejo de conveniência	18.3%	52
Varejo especializado	15.7%	44

Negócios de varejo regional e local

A mistura regional de inquilinos da Acadia inclui:

• Lojas especializadas locais: 12,4% do portfólio
• Cadeias de restaurantes regionais: 8,6% do portfólio
• Provedores de serviços regionais: 6,2% do portfólio

Investidores imobiliários institucionais

Redução de investidores institucionais para a Acadia Realty Trust:

Tipo de investidor	Porcentagem de propriedade	Investimento total ($ m)
Fundos de pensão	24.3%	$ 387,5M
Companhias de seguros	17.6%	US $ 280,2M
Doações	9.7%	US $ 154,3M

Fundos de private equity e investimento

Investidor de private equity profile:

• Investimento total de private equity: US $ 612,7M
• Número de parceiros de private equity: 14
• Tamanho médio do investimento: US $ 43,8 milhões

Investidores individuais de alta rede

Detalhes do segmento de investidores individuais:

• Total de capital do investidor individual: US $ 215,6M
• Investimento individual médio: US $ 3,2 milhões
• Número de investidores de alta rede: 67

Acadia Realty Trust (AKR) - Modelo de negócios: estrutura de custos

Despesas de aquisição e desenvolvimento de propriedades

Para o ano fiscal de 2023, a Acadia Realty Trust registrou custos totais de aquisição de propriedades de US $ 98,4 milhões. As despesas de desenvolvimento e reconstrução foram de aproximadamente US $ 67,2 milhões.

Categoria de despesa	Valor (US $ milhões)
Custos de aquisição de propriedades	98.4
Desenvolvimento e reconstrução	67.2

Custos operacionais e de manutenção

As despesas operacionais anuais da carteira de propriedades totalizaram US $ 42,6 milhões em 2023. Os custos de manutenção e reparo eram de US $ 23,1 milhões.

• Despesas de gerenciamento de propriedades: US $ 18,5 milhões
• Utilidades e custos de energia: US $ 12,3 milhões
• Impostos de seguro e propriedade: US $ 16,8 milhões

Gestão e sobrecarga administrativa

A sobrecarga administrativa do Acadia Realty Trust foi de US $ 24,7 milhões em 2023, incluindo:

Despesa administrativa	Valor (US $ milhões)
Compensação executiva	8.3
Salários dos funcionários	12.4
Serviços profissionais	4.0

Despesas de juros e manutenção de dívidas

As despesas totais de juros para 2023 foram de US $ 86,5 milhões. Custos de serviço da dívida incluídos:

• Juros de dívida de longo prazo: US $ 76,2 milhões
• Interesses da Linha de Crédito: US $ 10,3 milhões

Despesas de marketing e relações de investidores

Os custos de marketing e relações com investidores para 2023 totalizaram US $ 3,9 milhões.

Categoria de despesa de marketing	Valor (US $ milhares)
Comunicações de investidores	1,200
Marketing digital	1,500
Despesas da conferência de investidores	1,200

Acadia Realty Trust (AKR) - Modelo de negócios: fluxos de receita

Renda de aluguel de arrendamentos de propriedades comerciais

Para o ano fiscal de 2023, a Acadia Realty Trust registrou uma receita total de aluguel de US $ 237,4 milhões. O portfólio consiste em 79 propriedades, com uma área total arrecadada de aproximadamente 3,4 milhões de pés quadrados.

Tipo de propriedade	Renda de aluguel ($ m)	Taxa de ocupação (%)
Varejo ancorado em supermercado	142.6	94.3
Varejo urbano	94.8	92.7

Apreciação de propriedades e ganhos de capital

Em 2023, a Acadia Realty Trust registrou ganhos líquidos de vendas de propriedades, totalizando US $ 48,3 milhões, com uma taxa de capitalização média ponderada de 6,5%.

Gerenciamento de ativos e taxas de consultoria

As taxas de gerenciamento de ativos para 2023 totalizaram US $ 12,7 milhões, derivadas do gerenciamento de investimentos imobiliários de terceiros.

Receita de investimento de joint venture

A receita dos investimentos em joint venture em 2023 foi de US $ 26,5 milhões, representando 11,2% do total de fluxos de receita.

Tipo de joint venture	Renda de investimento ($ M)
Propriedades de varejo	18.3
Desenvolvimentos de uso misto	8.2

Potencial venda de propriedades

Os recursos de venda de propriedades projetados para 2024 são estimados em US $ 75,6 milhões, direcionando propriedades com menor valor estratégico.

• Volume de venda projetado: US $ 75,6 milhões
• Preço médio de venda estimado por propriedade: US $ 12,6 milhões
• Número esperado de propriedades a serem vendidas: 6

Acadia Realty Trust (AKR) - Canvas Business Model: Value Propositions

You're looking at the core differentiators that Acadia Realty Trust is banking on to drive returns, focusing on where they own property and how efficiently they manage it.

• Exposure to high-growth, affluent urban retail markets
• Strong internal growth with 8.2% Q3 2025 same-store NOI growth
• Opportunistic, value-add investment strategy via funds
• Lower capital expenditures (CapEx) compared to suburban peers

The REIT Portfolio is intentionally concentrated in what Acadia Realty Trust calls mission critical, high-growth, high-barrier-to-entry markets. Street retail, which includes locations like SoHo in NYC and Melrose Place in LA, makes up over 60% of the Core Portfolio value as of the February 2025 10-K filing. This focus is showing up in tenant sales performance; for instance, sales growth in Q3 2025 reached 15% in SoHo, 30% on Bleecker Street, and over 40% on the Gold Coast of Chicago. By the end of September 2025, overall REIT Portfolio occupancy stood at 93.6%, with street and urban retail occupancy hitting 89.5%.

Internal growth is accelerating. For the third quarter of 2025, the REIT Portfolio delivered same-property NOI growth of 8.2% year-over-year, with the street retail segment leading the way at 13% growth. Leasing momentum is strong, evidenced by GAAP leasing spreads of 29% and cash leasing spreads of 12% on new and renewal leases executed in Q3 2025. The signed, not yet open (SNO) pipeline was valued at $11.9 million in pro-rata Annual Base Rent as of September 30, 2025.

Acadia Realty Trust uses its Investment Management Platform to execute its opportunistic and value-add strategy, leveraging institutional capital relationships. This platform allows Acadia Realty Trust agility to target investments where they believe they can add value and realize strong returns, fitting their buy, fix, sell model. Year-to-date through Q3 2025, acquisition volume totaled $487 million, and management expects the full year 2025 volume to equal or exceed 2024 levels. The company projects approximately 1 cent of earnings accretion for every $200 million of gross investment made through this platform.

A key structural advantage is the lower capital intensity of street retail assets compared to other formats. Acadia Realty Trust has historically required less capital reinvestment to maintain and re-tenant its properties. Here's the quick math on that comparison over the last five years:

Metric	Acadia Realty Trust (AKR)	Suburban Peer Range
Lowest Capital Expenditures as Percentage of NOI (5-Year Average)	16%	19% to 29%

What this estimate hides is that the fungible nature of street retail drives this lower CapEx requirement, which is a defintely positive for cash flow generation relative to peers.

Acadia Realty Trust (AKR) - Canvas Business Model: Customer Relationships

You're looking at how Acadia Realty Trust (AKR) keeps its key partners-tenants and capital providers-locked in. Honestly, for a REIT focused on prime street retail, the relationship isn't just about collecting rent; it's about proving the location is a sales engine for them.

Long-term, direct relationships with key national retailers

Acadia Realty Trust focuses on deep ties within its high-quality street and urban retail assets. The proof is in the leasing performance, showing tenants are willing to commit at higher rates because the location drives sales for them. This isn't just about filling space; it's about curating a high-performing retail ecosystem.

The leasing activity in the third quarter of 2025 clearly shows this pull:

• Executed $3.7 million in annual base rent during the quarter.
• Total signed leases year-to-date reached $11.4 million.
• Achieved a 32% blended GAAP rent spread on new and renewal leases.
• Properties in high-growth corridors saw an even higher average rent spread of 36%.

When tenants see results, they pay more. For example, sales growth in key areas during the quarter ended September 30, 2025, included:

• 15% rise in SoHo.
• 30% increase on Bleecker Street.
• Over 40% growth on the Gold Coast of Chicago.

The company is actively managing its tenant mix, using a 'pry loose' strategy to replace under-market tenants, which is a direct, hands-on relationship management technique. This focus on street retail is central; approximately 60% of Acadia Realty Trust's gross asset value stems from these street retail assets.

Dedicated investor relations for institutional fund partners

For the capital side of the business, Acadia Realty Trust uses its Investment Management platform to maintain long-standing relationships with institutional investors. This platform allows Acadia to partner on opportunistic and value-add investments, aligning interests by holding significant ownership stakes.

Here's a look at how these relationships are structured and capitalized, based on recent activity and structure:

Relationship Component	Metric/Detail	Data Point (as of late 2025/recent reports)
Institutional Co-investment Structure	Ownership range in unconsolidated ventures	5% to 20%
Investment Management Platform Acquisition Volume (YTD Q3 2025)	Total acquisitions through the platform	$487 million
Recent Institutional Partnership Example (May 2024)	Partner Name	J.P. Morgan Asset Management (JPM)
Recent Institutional Partnership Example (May 2024)	Sale price of Shops at Grand interest to JPM	$48 million gross purchase price
Capital Raised (Q3/Q4-to-date 2025)	Equity raised to fund pipeline	Approximately $212 million

Acadia Realty Trust relies on these institutional partners for the majority of the capital in this platform segment. The company's CFO, John Gottfried, was scheduled to present at the Jefferies Real Estate Conference on November 18, 2025, which is a key touchpoint for investor engagement.

Proactive property management and leasing services

The property management is anything but passive; it's geared toward driving internal growth through occupancy gains and strong lease renewals. The goal is to keep the portfolio tight, especially in the core street assets.

The results from the third quarter ended September 30, 2025, reflect this proactive approach:

• REIT Portfolio occupancy increased 140 basis points sequentially to 93.6%.
• Street and urban retail occupancy specifically grew 280 basis points to 89.5%.
• Same-property Net Operating Income (NOI) for the REIT Portfolio increased 8.2%.
• The street retail portfolio drove this with 13% same-store NOI growth.

Management has clear targets based on this performance. They anticipate street and urban occupancy reaching around 90% by year-end 2025, with the overall core operating occupancy targeting 94% to 95%. Furthermore, the Signed Not Yet Open (SNO) Pipeline stood at $11.9 million of pro-rata Annual Base Rent as of September 30, 2025, which is a direct measure of future management activity translating into revenue.

If onboarding takes 14+ days, churn risk rises.

Acadia Realty Trust (AKR) - Canvas Business Model: Channels

You're looking at how Acadia Realty Trust (AKR) gets its properties leased and capital raised, which is all about direct contact and established platforms. Honestly, their channel strategy is built on a dual-platform approach, separating the core, directly managed assets from the opportunistic investment management side.

Direct in-house leasing team for Core Portfolio assets

The direct leasing team focuses on the Core Portfolio, which represents approximately 85% of AKR's Net Asset Value (NAV) as of the November 2025 Corporate Update. This team is clearly driving strong leasing metrics in their high-barrier-to-entry markets.

Here are some of the numbers showing their leasing channel effectiveness through the first three quarters of 2025:

Metric	Value / Date	Portfolio Segment
REIT Portfolio Occupancy	93.6% (as of September 30, 2025)	Core Portfolio
Street Retail Occupancy	89.5% (as of September 30, 2025)	Street Retail
REIT Portfolio Same-Property NOI Growth	8.2% (Q3 2025)	Core Portfolio
Street Retail Same-Property NOI Growth	13% (Q3 2025)	Core Portfolio
Blended GAAP Rent Spread (New/Renewal)	32% (as of November 2025)	Core Portfolio
GAAP Leasing Spread (New/Renewal)	29% (Q3 2025)	REIT Portfolio
Cash Leasing Spread (New/Renewal)	12% (Q3 2025)	REIT Portfolio
Total Signed Leases Year-to-Date	$11.4 million in Annual Base Rent (as of Q3 2025)	Core Portfolio

The team is seeing significant tenant performance, with sales growth reported at a 15% rise in SoHo, a 30% increase on Bleecker Street, and over 40% growth on the Gold Coast of Chicago.

Investment Management Platform for institutional capital deployment

This channel leverages institutional relationships for opportunistic and value-add investments. The platform is actively deploying capital across various funds.

Total acquisition volume year-to-date as of the third quarter of 2025 reached $487 million. Management expects 2025 acquisition volume to equal or exceed 2024 levels. The company raised approximately $212 million of equity during the third quarter and fourth quarter-to-date on a forward basis to fund this pipeline.

Here's a look at some of the capital deployment activity through the Investment Management (IM) platform and related transactions in 2025:

• IM Platform Acquisition: $68 million for Pinewood Square in Lake Worth, FL (Q1 2025).
• IM Platform Acquisition: $63 million for The Avenue at West Cobb (Q3 2025).
• IM Platform Disposition: $28 million for a shopping center in Delaware (Q2 2025).

The total Gross Assets Under Management (AUM) for the Investment Management Platform is noted at approximately $3.5 billion in the November 2025 update, though a general AUM figure for the entire company is cited as $6 billion.

Corporate website and SEC filings for investor communication

Acadia Realty Trust uses its digital presence to manage investor relations and comply with Regulation FD. You can find their latest disclosures on their dedicated investor portal.

• Corporate Website Address: www.acadiarealty.com/investors.
• Latest Quarterly Report: Form 10-Q filed on October 29, 2025.
• Latest Material Event Report: Form 8-K filed on October 28, 2025.
• The company also uses its LinkedIn profile to communicate with investors and the public.

The company's filings, including Form 10-K, 10-Q, and 8-K, are available on the Investors page as soon as reasonably practicable after electronic filing with the SEC.

Brokerage firms for property acquisitions and dispositions

While the in-house team handles Core leasing, acquisitions and dispositions, especially for the Investment Management platform, often involve external brokerage and advisory services to execute transactions. The activity shows a consistent flow of deals across both the REIT Portfolio and the Investment Management side.

Here are the reported 2025 acquisition and disposition transactions, which typically involve brokerage channels:

Transaction Type	Amount (USD)	Date / Quarter	Platform
Core Acquisition (106 Spring Street)	$55,137 (in thousands)	January 2025 / Q1	REIT Portfolio
Core Acquisition (85 5th Avenue)	$47 million	Q2 2025	REIT Portfolio
Core Acquisitions (Total Q2)	$157 million	Q2 2025	Core Street Retail
IM Acquisition (Pinewood Square)	$68 million	Q1 2025	Investment Management
IM Acquisition (The Avenue at West Cobb)	$63 million	Q3 2025	Investment Management
IM Disposition (Delaware Center)	$28 million	Q2 2025	Investment Management
IM Disposition (640 Broadway)	$50 million	Q3 2025	Investment Management
IM Disposition (1035 Third Ave Retail)	$22 million	Q4-to-date	Investment Management

The company completed $373 million of accretive Core and Investment Management transactions year-to-date as of the end of Q1 2025.

Acadia Realty Trust (AKR) - Canvas Business Model: Customer Segments

You're looking at the core groups Acadia Realty Trust (AKR) targets with its dual-platform strategy, which pairs its owned REIT Portfolio with its Investment Management platform. This focus is heavily weighted toward high-quality, high-barrier urban locations.

National and regional retailers seeking flagship, mission-critical locations

This segment is the primary focus of the REIT Portfolio, which represents approximately 85% of Acadia Realty Trust's Gross Asset Value as of September 30, 2025. These retailers are seeking spaces in the nation's most dynamic retail corridors, where Acadia Realty Trust has built a best-in-class portfolio. The demand from this segment is translating directly into strong financial results for Acadia Realty Trust.

• REIT Portfolio leased occupancy reached 93.6% as of September 30, 2025.
• Street and urban retail occupancy specifically increased 280 basis points to 89.5% as of September 30, 2025.
• GAAP leasing spreads on new and renewal leases for the REIT Portfolio hit 29% in the third quarter of 2025.
• Cash leasing spreads for the same period were 12%.
• The Signed Not Yet Open (SNO) pipeline stood at $11.9 million in Annual Base Rent (ABR) as of September 30, 2025.

The strength of these locations is evidenced by tenant sales growth in key markets during the third quarter of 2025, showing that the consumer base is highly engaged. This segment is the engine driving Acadia Realty Trust's internal growth, with street retail same-store Net Operating Income (NOI) growth reported at 13% for Q3 2025.

Institutional investors and pension funds for co-investment vehicles

The Investment Management platform serves this group by targeting opportunistic and value-add investments, often recapitalizing assets acquired by the REIT Portfolio with institutional partners. Acadia Realty Trust is actively deploying capital with these partners; they completed approximately $487 million in acquisition volume year-to-date through the third quarter of 2025, with plans to double that figure by the end of 2025. This platform allows Acadia Realty Trust to act opportunistically while leveraging external capital relationships.

The external capital base is also significant in Acadia Realty Trust's public equity structure. As a group, institutional investors and hedge funds owned 97.65% of the company's stock as of the third quarter of 2025. Acadia Realty Trust is currently close to selecting a top-tier investor to recapitalize the Pinewood Square property, a Florida Power Center purchased in Q2 2025.

Affluent consumers who frequent urban street retail corridors

While not a direct payer of rent, this group represents the end-user whose spending power validates Acadia Realty Trust's location strategy. The company's focus on high-barrier urban markets like SoHo and Bleecker Street in New York City, and the Gold Coast in Chicago, directly targets these high-value consumers. The performance metrics from these specific areas confirm the strength of this customer base.

Here's a quick look at the reported sales growth from Q3 2025 in these key corridors:

Location	Sales Growth (Year-over-Year)	Portfolio Segment
SoHo, NYC	15%	Street Retail
Bleecker Street, NYC	30%	Street Retail
Gold Coast, Chicago	Over 40%	Street Retail

This robust consumer activity supports the high leasing spreads Acadia Realty Trust is achieving, as tenant sales outpace contractual rent growth. The company's strategy is built on the belief that the decisions retailers make to locate in these key streets transcend short-term economic uncertainty.

Acadia Realty Trust (AKR) - Canvas Business Model: Cost Structure

You're looking at the core costs Acadia Realty Trust (AKR) manages to keep its street retail engine running. It's a high-touch business, but the structure aims for efficiency, especially compared to some other property types.

The cost structure is fundamentally driven by owning and operating irreplaceable, high-quality street and open-air retail assets across dynamic corridors, alongside the overhead of the dual-platform model.

Here are the key components of the cost structure, grounded in the latest figures from 2025 reporting:

• Property operating expenses (real estate taxes, utilities, maintenance): These are directly tied to the physical portfolio. For the first quarter of 2025, same-property expenses for the Core Portfolio were reported at $13.8 million.
• Interest expense on debt: Managing debt is crucial. Acadia Realty Trust has been actively managing this, bringing its pro-rata Net Debt-to-EBITDA ratio down to 5.0x as of September 30, 2025, from 5.5x at the end of Q2 2025.
• General and administrative expenses (G&A) for dual-platform operations: This covers the corporate overhead supporting both the REIT Portfolio and the Investment Management Platform. While a specific 2025 G&A dollar amount isn't isolated here, the dual structure necessitates this cost base.
• Relatively low recurring capital expenditures for street retail: The nature of street retail in prime locations generally requires less heavy CapEx than other retail formats. Over the past five years, Acadia Realty Trust has reported capital expenditures as a percentage of Net Operating Income (NOI) at just 16%, which is lower than the 19% to 29% range seen by some peers.

Here's a quick look at how some of these key financial metrics stood as of the third quarter of 2025:

Cost/Metric Component	Latest Reported Value (2025)	Reporting Period End Date
Pro-Rata Net Debt-to-EBITDA	5.0x	September 30, 2025
Core Portfolio Same-Property Expenses	$13.8 million	March 31, 2025
CapEx as % of NOI (5-Year Average)	16%	Prior 5 Years
Total Debt (Consolidated)	$1.9 billion	Approximate

The focus on street retail helps keep the recurring capital needs lower. This is a key differentiator in the cost side of the business model, helping to support the dividend, which was recently declared at $0.20 per share for the upcoming payment.

Acadia Realty Trust (AKR) - Canvas Business Model: Revenue Streams

You're looking at the core ways Acadia Realty Trust brings in money, which is pretty straightforward for a real estate investment trust (REIT) focused on high-quality street retail. The bulk of the cash flow comes from tenants paying rent, but there are other important pieces, like fees from managing outside money and profits from selling properties.

Rental income from Core Portfolio leases is definitely the main driver. This is the rent collected from the properties Acadia owns and operates directly, primarily in high-barrier, dynamic urban markets. You can see the strength of this stream in the leasing activity. For instance, in the third quarter of 2025, the street retail portfolio saw same-property Net Operating Income (NOI) growth of 13%. Plus, on new and renewal leases in that quarter, GAAP leasing spreads hit 29%, and cash leasing spreads were 12%. By September 30, 2025, the REIT Portfolio occupancy was up to 93.6%.

The overall health of the business, as measured by its key metric, is reflected in the guidance for Funds From Operations (FFO) Before Special Items. For the full year 2025, Acadia Realty Trust provided guidance for FFO Before Special Items in the range of $1.32 to $1.39 per share.

Here's a quick look at how the key forward-looking guidance points stack up for 2025:

Revenue Component Category	Metric/Component	2025 Guidance/Expectation
Core Portfolio Operations	Full-Year Same-Property NOI Growth (Reaffirmed)	5% to 6%
Core Portfolio Operations	Q3 2025 Street Retail Same-Property NOI Growth	13%
Core Portfolio Operations	Q3 2025 GAAP Leasing Spread (New/Renewal)	29%
Core Portfolio Operations	Q3 2025 Cash Leasing Spread (New/Renewal)	12%
Overall Profitability Metric	FFO Before Special Items Guidance (Per Share)	$1.32 to $1.39
Investment Sales/Management	Realized Gains and Promotes (Expected)	$16.0-$19.0 million

Fee income from Investment Management comes from services like property management, leasing oversight, and construction management for third-party capital partners. While the direct 2025 fee income number isn't explicitly stated in the guidance summaries, the activity level is high. For example, the company completed approximately $373 million of accretive Core and Investment Management transactions year-to-date in 2025. Also, looking back at 2024, Equity in earnings of unconsolidated affiliates for Investment Management increased by $20.8 million compared to the prior year.

Finally, you have the lumpy but potentially high-margin revenue from asset sales. The expectation for Realized gains and promotes from the sale of fund assets for the full year 2025 was set at $16.0-$19.0 million. To give you some context on how this is realized, in the third quarter of 2025 alone, Acadia Realty Trust reported $5.4 million in realized investment gains on marketable securities and net promotes, which included gains from the sale of Albertsons stock and the disposition of a Fund III asset.

The revenue streams are supported by strong operational metrics:

• REIT Portfolio occupancy as of September 30, 2025: 93.6%.
• SNO Pipeline (Signed Not Open) as of September 30, 2025: 5% of ABR (or $11.9 million).
• Core debt maturing in 2025: 0.1%.

Finance: review the Q4 2025 realized gains forecast against the original $16.0-$19.0 million expectation by next Tuesday.