Acadia Realty Trust reported its financial results for the second quarter of 2025, revealing a total revenue of $100.6 million, a 15% increase from $87.3 million in the same period last year. The growth was primarily driven by a rise in rental income, which reached $98.3 million compared to $85.6 million in the prior year. However, the company experienced a net loss of $20.9 million for the quarter, a significant decline from a net income of $1.6 million in the previous year, largely attributed to impairment charges of $18.2 million and a loss on change of control of $9.6 million related to the acquisition of the Renaissance Portfolio.
In terms of operational metrics, Acadia's Core Portfolio achieved a same-property net operating income (NOI) growth of 4.1% for the first half of 2025. The company also expanded its property holdings, acquiring nine properties for a total of $551.5 million during the first half of the year, including significant acquisitions in New York and Washington D.C. The total assets of Acadia Realty Trust increased to $4.88 billion as of June 30, 2025, up from $4.37 billion at the end of 2024, reflecting the impact of these acquisitions.
The company’s debt levels also rose, with total liabilities increasing to $2.15 billion from $1.84 billion at the end of 2024. This increase was driven by new borrowings to finance acquisitions, including $837.7 million in unsecured debt. Acadia's cash and cash equivalents stood at $42.8 million, up from $16.8 million at the end of the previous year, indicating improved liquidity. The company maintained a strong focus on financial flexibility, with a commitment to conservative financial practices.
Looking ahead, Acadia Realty Trust expressed optimism about its growth strategy, emphasizing the importance of maximizing internal growth and executing accretive acquisitions. The company plans to continue leveraging its Core Portfolio and Investment Management platform to drive long-term value. However, it acknowledged potential risks from macroeconomic conditions, including inflation and rising interest rates, which could impact its operations and financial performance. The company remains committed to monitoring these risks closely while pursuing its strategic objectives.
About ACADIA REALTY TRUST
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