May 2024
1
Table of Contents
Introduction ………………………………. 3
Corporate Update ……………………….. 10
Why Street Retail ……..……………….… |
18 |
Benefits of Ownership ……………..……. |
19 |
Window of Opportunity to Invest ………. |
24 |
Why Acadia ……………………………….. 26
2
Introduction
3
Acadia Realty Snapshot
Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual operating platforms (Core Portfolio and Investment Management) and its disciplined, location-driven investment strategy.
Acadia Realty Trust accomplishes this goal by:
- Building a best-in-class Core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors
- Making profitable opportunistic and value- add investments through its Investment Management Platform
- And maintaining a strong balance sheet.
ACADIA TOTAL OPERATING PORTFOLIO1
Core Portfolio |
GLA at 100% |
Pro-rata |
Pro-rata Share |
Pro-rata Share |
Total |
Share Total |
Occupancy |
Leased |
|
Street & Urban |
1,475 |
1,267 |
87.5% |
90.2% |
Suburban |
3,910 |
3,751 |
93.2% |
95.8% |
Total Core |
5,385 |
5,018 |
91.8% |
94.4% |
Investment Management
Total Funds |
8,987 |
1,947 |
89.2% |
92.7% |
Total |
14,372 |
6,965 |
1 As of 03/31/2024 AKR Supplemental Report. Square feet in '000s
4
Business Model Differentiation - Dual Platform
CORE/ON-BALANCE SHEET
- Public Capital
- Strategy: Open-air retail format agnostic depending on cycle and opportunities. Focused on high growth markets.
- Institutional Capital: Utilizing institutional capital relationships.
- Strategy: Opportunistic/Value-Add across capital stack, high-yielding, redevelopments and special situations.
INVESTMENT MANAGEMENT PLATFORM
CORE
COMPETENCY
DISTRESSED
RETAILER
REAL ESTATE
5
Our Differentiation is Driving Growth
Live, work, play
Street
50%
Suburban Urban
30% 20%
Stable |
Densification |
6
Our Prime Corridor Presence
Projected multi-year
annual growth approximately 10%
Greenwich, CT |
Melrose Place |
Los Angeles, CA |
|
Henderson Ave, |
SoHo, NYC, NY |
Williamsburg, |
Armitage Ave, |
Dallas, TX |
Brooklyn, NY |
Chicago, IL |
with Mark to Market ranging from
10% - 50%+
Rush-Walton, |
Georgetown, |
Chicago, IL |
Washington D.C. |
7
Building Blocks of Projected Core Internal NOI Growth
8-11% |
Total Core NOI Growth of |
|
$30-$40M Through 2026 |
||
Annual CAGR |
2.5% |
|
$22.5-30M |
4-6% |
|
Contractual |
||
+ |
||
NOI Growth |
Rent Steps |
|
Annual CAGR |
2-3% |
|
Street/Urban |
$7.5-10M |
|
NOI Growth |
Redevelopment |
|
Repositioning - MTM |
Suburban
2-3%
Lease-up
Components of
CAGR
Note: Based upon growth from 2023 through projected year-end 2026 |
8 |
Beyond Words, We Delivered
Our Core Portfolio HAS and IS POISED to grow 5-10%
What We Said
"In terms of the multi-year Core NOI growth trajectory…we are also starting to see the building blocks forming to grow
above and beyond that…And we are becoming increasingly optimistic that it shows up within the next few years."
(Q4-2020 Earnings Call)
What We Did
5-10% Projected Range
10%
Approx. 6.5% = AKR average of last 12 quarters
5%
9
Corporate Update
10
Attachments
Disclaimer
Acadia Realty Trust published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 21:11:20 UTC.