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Acadia Realty Trust (AKR) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Acadia Realty Trust

CIK: 899629 Ticker: AKR

 

 

Exhibit 99.1

 

 

 

Amy L. Racanello

(914) 288-8100

 

ACADIA REALTY TRUST ANNOUNCES EXECUTIVE RETIREMENT

AND PROVIDES EARNINGS UPDATE

 

RYE, NY – December 28, 2018 – Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) today announced that Joel Braun will retire from his role as Executive Vice President and Chief Investment Officer of the Company effective December 31, 2018. Mr. Braun has been with the Company since its inception in 1998 and has played a significant role in its profitable growth and development.

 

Mr. Braun has already successfully transitioned his responsibilities to several individuals within the Company. Mr. Braun and the Company also anticipate entering into a consulting arrangement to assist with acquisition and development matters, as may be requested by the Company from time to time.

 

In connection with Mr. Braun’s retirement, the Company anticipates recognizing an aggregate charge of approximately $2.0 million (approximately $0.03 per share) to net income and funds from operations during the fourth quarter 2018, the majority of which relates to the acceleration of vesting of certain previously-granted equity-based compensation awards. However, all previously unvested performance-based awards will remain subject to their vesting requirements. This charge was not incorporated into the Company’s previously-provided earnings guidance for the year ending December 31, 2018.

 

“All of us at Acadia would like to thank Joel for his many years of dedicated service and leadership,” commented Kenneth F. Bernstein, President and CEO of the Company. “Two decades ago, when Joel joined Acadia, the Company had a market capitalization of approximately $150 million and a portfolio of shopping centers located in predominately secondary and tertiary markets. Over the years, my trusted collaborator and friend Joel has been integral to our Company’s transformation into a differentiated, dual-platform company that is well positioned to succeed in today’s rapidly-changing retail real estate environment. In addition to his many contributions on the investments front, Joel has built a talented and energized investment team. Looking ahead, I have full confidence that we will continue to successfully execute on our strategy and create long-term value for all of Acadia’s stakeholders.”

 


 

 

 

 


The following information was filed by Acadia Realty Trust (AKR) on Wednesday, January 2, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Acadia Realty Trust's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Acadia Realty Trust's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Schedule Iii - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation - Reconciliation Of Accumulated Depreciation (Details)
Schedule Iii - Real Estate And Accumulated Depreciation - Reconciliation Of Real Estate Properties (Details)
Schedule Iii - Real Estate And Accumulated Depreciation - Schedule Of Real Estate And Accumulated Depreciation (Details)
Schedule Iv - Mortgage Loans On Real Estate
Schedule Iv - Mortgage Loans On Real Estate - Loans On Real Estate (Details)
Schedule Iv - Mortgage Loans On Real Estate - Reconciliation Of Loans On Real Estate (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cashflows (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Income (Parenthetical)
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Debt
Debt (Tables)
Debt - Credit Facility - Additional Information (Details)
Debt - Mortgage Payable - Additional Information (Details)
Debt - Scheduled Principal Repayments (Details)
Debt - Summary Of Consolidated Indebtedness (Details)
Debt - Summary Of Consolidated Indebtedness (Parenthetical) (Details)
Debt - Unsecured Notes Payable - Additional Information (Details)
Debt - Unsecured Revolving Lines Of Credit - Additional Information (Details)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Earnings Per Common Share - Additional Information (Details)
Federal Income Taxes
Federal Income Taxes (Tables)
Federal Income Taxes - Additional Information (Details)
Federal Income Taxes - Income And Provision For Income Taxes (Details)
Federal Income Taxes - Reconciliation Of Net Income To Taxable Income (Details)
Federal Income Taxes - Tax Reconciliation (Details)
Federal Income Taxes - Tax Status Of Dividends (Details)
Federal Income Taxes - Tax Status Of Dividends (Parenthetical) (Details)
Financial Instruments And Fair Value Measurements
Financial Instruments And Fair Value Measurements (Tables)
Financial Instruments And Fair Value Measurements - Additional Information (Details)
Financial Instruments And Fair Value Measurements - Financial Statements Of Income (Losses) Recognized Related To Cash Flow Hedges (Details)
Financial Instruments And Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Financial Instruments And Fair Value Measurements - Schedule Of Derivative Financial Instruments (Details)
Financial Instruments And Fair Value Measurements - Schedule Of Derivative Financial Instruments (Parenthetical) (Details)
Financial Instruments And Fair Value Measurements - Schedule Of Other Financial Instruments Carrying Values And Fair Values (Details)
Investments In And Advances To Unconsolidated Affiliates
Investments In And Advances To Unconsolidated Affiliates (Tables)
Investments In And Advances To Unconsolidated Affiliates - Core Portfolio - Additional Information (Details)
Investments In And Advances To Unconsolidated Affiliates - Fund Investments - Additional Information (Details)
Investments In And Advances To Unconsolidated Affiliates - Schedule Of Investments (Details)
Investments In And Advances To Unconsolidated Affiliates - Schedule Of Investments (Parenthetical) (Details)
Investments In And Advances To Unconsolidated Affiliates - Unconsolidated Affiliates - Additional Information (Details)
Investments In And Advances To Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule Of Condensed Balance Sheet (Details)
Investments In And Advances To Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule Of Condensed Income Statement (Details)
Lease Intangibles
Lease Intangibles (Tables)
Lease Intangibles - Additional Information (Details)
Lease Intangibles - Schedule Of Intangible Assets And Liabilities Included In Other Assets And Other Liabilities (Details)
Lease Intangibles - Scheduled Amortization Of Acquired Lease Intangible Assets And Assumed Liabilities (Details)
Leases
Leases (Tables)
Leases - Capital Leases - Additional Information (Details)
Leases - Operating Leases - Additional Information (Details)
Leases - Schedule Of Future Minimum Rental Revenues And Payments For Operating And Capital Leases (Details)
Notes Receivable, Net
Notes Receivable, Net (Tables)
Notes Receivable, Net - Additional Information (Details)
Notes Receivable, Net - Schedule Of Notes Receivable (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule Of Operating Partnership's Equity Interest (Details)
Other Assets, Net And Accounts Payable And Other Liabilities
Other Assets, Net And Accounts Payable And Other Liabilities (Tables)
Other Assets, Net And Accounts Payable And Other Liabilities - Schedule Of Other Assets And Other Liabilities (Details)
Real Estate
Real Estate (Tables)
Real Estate - Acquisitions And Conversions - Additional Information (Details)
Real Estate - Properties Held For Sale - Additional Information (Details)
Real Estate - Real Estate Under Development And Construction In Progress - Additional Information (Details)
Real Estate - Schedule Of Acquisitions And Conversions (Details)
Real Estate - Schedule Of Development In Process Activities (Details)
Real Estate - Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet And Additional Disclosures (Details)
Real Estate - Schedule Of Property Dispositions (Details)
Real Estate - Schedule Of Purchase Price Allocations (Details)
Real Estate - Schedule Of Real Estate (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Additional Information (Details)
Segment Reporting - Summary Of Segment Information (Details)
Segment Reporting - Summary Of Segment Information (Parenthetical) (Details)
Share Incentive And Other Compensation
Share Incentive And Other Compensation (Tables)
Share Incentive And Other Compensation - Additional Information (Details)
Share Incentive And Other Compensation - Employee 401 (K) Plan - Additional Information (Details)
Share Incentive And Other Compensation - Employee Share Purchase Plan And Deferred Share Plan - Additional Information (Details)
Share Incentive And Other Compensation - Schedule Of Unvested Shares And Ltip Units (Details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income (Tables)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Common Shares And Units - Additional Information (Details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Dividends And Distributions - Additional Information (Details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Preferred Op Units - Additional Information (Details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Share Repurchases - Additional Information (Details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Summary Of Activity In Accumulated Other Comprehensive Income (Details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Summary Of Change In Noncontrolling Interest (Details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Summary Of Change In Noncontrolling Interest (Parenthetical) (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Summary Of Quarterly Financial Information (Unaudited)
Summary Of Quarterly Financial Information (Unaudited) (Details)
Summary Of Quarterly Financial Information (Unaudited) (Tables)
Ticker: AKR
CIK: 899629
Form Type: 10-K Annual Report
Accession Number: 0001564590-19-003257
Submitted to the SEC: Tue Feb 19 2019 10:04:59 AM EST
Accepted by the SEC: Tue Feb 19 2019
Period: Monday, December 31, 2018
Industry: Real Estate Investment Trusts

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