Acadia Realty Trust (AKR) Investor presentation summary

Business model and portfolio overview

• Focuses on long-term, profitable growth through dual operating platforms and a disciplined, location-driven investment strategy.

• Manages $3.5B in REIT portfolio assets (80% NAV) and $3.0B in investment management assets (20% NAV).

• Portfolio includes over 200 properties and 14M square feet, with a strong concentration in open-air street retail in top urban corridors.

• Investment management platform leverages institutional capital for value-add and opportunistic investments.

Internal growth and leasing fundamentals

• Achieved 5.7% same property growth and 26% street leasing spreads in 2025.

• Projected 2026 same property NOI growth of 5–9% and FFO as adjusted of $1.21–$1.25 (+8% YoY).

• Internal growth driven by lease-up, redevelopments, mark-to-market rent, and contractual rent increases.

• Street retail assets structured for higher rent growth, lower leasing capex, and shorter payback periods compared to suburban assets.

• High leasing spreads (40%+), occupancy gains, and strong demographic profiles in key markets.

External growth and acquisitions

• Completed $1.3B in acquisitions from 2024 to early 2026, split between $500M REIT and $800M investment management.

• Exceeded FFO accretion targets, generating $0.07–$0.08+ FFO from recent investments.

• Accelerated scale in established markets like SoHo, Georgetown, and Flatiron/Union Square with significant capital deployed.

• Entered new markets such as Williamsburg and Upper Madison, following tenants into high-growth corridors.

• Achieved significant street control in key locations, enabling outsized growth and leasing volume.