Acadia Realty Trust : Corporate Update - May 2026 (95903b)

Published: 2026-05-05 08:09:27 ET AKR

Published on 05/05/2026 at 08:09 am EDT

Corporate Update 2026

TABLE OF CONTENTS

2

Overview

Who We Are Recent Updates

3

Internal Growth

Outsized Growth in the Street

10

External Growth and Balance Sheet

23

Investment Management Platform

42

SoHo - NYC

CORPORATE UPDATE 2026

3

Overview

Who We Are & Recent Updates

Williamsburg - NYC

CORPORATE UPDATE 2026 OVERVIEW 4

14M

SQUARE FEET OF TOTAL GLA [1]

200+

PROPERTIES [1]

5%

MULTI YEAR GROWTH (PRIOR TO EXTERNAL GROWTH)

$0.01

EARNINGS ACCRETION FOR EVERY

$200M OF GROSS INVESTMENT

Acadia Realty Trust

BUSINESS MODEL DIFFERENTIATION:

Acadia Realty Trust is an equity real estate investment trust focused on delivering long term, profitable growth via its dual operating platforms and its disciplined, location-driven investment strategy.

$3.5B AUM | 80% NAV

REIT PORTFOLIO:

Since our founding in 1998, we have built a best-in-class real estate portfolio with meaningful concentrations of open-air street retail assets in the nation's most dynamic corridors.

$3.0B AUM | 20% NAV

INVESTMENT MANAGEMENT PLATFORM:

Complementing our REIT Portfolio is our Investment Management Platform, which gives us the agility to make profitable, opportunistic and value-add investments in assets and markets where we can add value and realize strong returns.

1. As of 03/31/2026 AKR Supplemental Report.

A Differentiated REIT Portfolio

Chicago

Open-air retail assets focused on street retail in the nation's most mission critical must have markets

SoHo - NYC

TOTAL REIT PORTFOLIO GROSS ASSET VALUE

DENSIFICATION

Urban

15%

STABILITY

Suburban

25%

Street

60%

GROWTH

$3.5B

Approx. Gross Assets Under Management (AUM)

80%

Of AKR's

Net Asset Value (NAV)

A Complementary Investment Management Platform

LINQ Promenade - NV

Shops at Skyview - NY

$3.0B

Approx. Gross Assets Under Management (AUM)

$23M-$26M

Projected asset management, property management and other fees

Opportunity to earn additional amounts through promoted income

Leveraging institutional capital relationships for investments that fit our buy-fix-sell model

Q1 2026 Performance Highlights

West Village - NYC

Continued Momentum Across our Portfolio

5.9%

Q1 2026 Same Property

Growth

11%

Increase in YoY quarterly FFO

growth

570 BPS

Increase in YoY Street/Urban

Economic Occupancy

$500M+

Accretive Street and IMP Asset acquisitions during 2026 YTD

1. As of 03/31/2026 AKR Supplemental Report.

2026 Guidance

TOP LINE GROWTH HITTING THE BOTTOM LINE

Georgetown - DC

Top Line Growth

5% - 9%

2026 Projected Same Property NOI Growth

$1.22 - $1.26

$1.21 - $1.25

2026 Projected FFO As Adjusted

(9% YoY)

Bottom Line Growth

CORPORATE UPDATE 2026 OVERVIEW 9

Pathway to Outsized Growth

SoHo - NYC

Driving Internal Growth

Contractual Rent

Incremental Upside

Mark To Market/ Pry Loose

Redevelopments Developments External Growth

Lease up

2.5%

1%-2%

1%-2%

+%

Levers Driving Outsized Growth

CORPORATE UPDATE 2026

10

Internal Growth

Outsized Growth in the Street

SoHo - NYC

accretive to N FFO accretion penny per $20 in excess of 5%

V, hitting our target of 1

0m with CAGR

.

Soho Williamsburg West Village

Flatiron/Union Square

Madison Ave.

NEW YORK

Gold Coast Armitage Ave.

CHICAGO

Henderson Ave.

DALLAS

Our High-Growth Prime Corridors

A

Newbury - Boston Palm Beach - Florida

FFO accretion = 1c per $200M CAGR in excess of 5%

Georgetown

WASHINGTON DC

RECENT ACQUISITIONS

Melrose Place West Hollywood

LOS ANGELES

Disciplined Approach to Curating Our Street Retail Portfolio

Gold Coast - Chicago

HIGH BARRIER

TO ENTRY

Impetus for rent growth:

A convergence of high tenant demand and foot traffic and low tenant supply

DEMOGRAPHICS / RETAILING TRENDS

Analyzing demographic trends such as household income and home values over time, household formation density, and general scale of trade area

SUPPORTED BY

HIGH GROWTH

Curating assets and corridors where we see the potential to drive retailer sales and rent growth

CRITICAL MASS

Gold Coast - Chicago

Opportunities where we can acquire a collection of critical mass; looking at number of buildings, storefronts, and prime ground floor square footage

Located Where Spending Power Lives

Newbury - Boston

AKR

90,000 140,000 190,000 240,000 290,000 340,000 390,000

POPULATION (3 - MILE)

PECO

Peer Avg

KIM

KRG

BRX

UE

SITC

IVT

CURB

$130,000

$120,000

$110,000

$100,000

40,000

REG

AKR

FRT

$160,000

$150,000

$140,000

Demographic Information for AKR Properties vs Peers [1]

Peer Leading Demographics

AVERAGE HOUSEHOLD INCOME (3 - MILE)

1. Green Street Strip Center Sector Demographics Update Q3 2025.

Our Locations Attract Leading and Highly Coveted Brands

Melrose Place - LA

Street Retail - Structured for Growth

West Village - NYC

3

Lower leasing capex as a % of rent = HIGHER net effective rent growth

2

Fair value resets drive outsized rental growth

1

Higher contractual annual rent steps

CORPORATE UPDATE 2026 INTERNAL GROWTH 16

Not All Growth Is Created Equal

3.

Net Effective Rents

Lower Leasing Capex as a % of Rent = HIGHER Net Effective Rent Growth, Shorter Payback Period and Higher Cash Flow!

STREET RETAIL VS. SUBURBAN JUNIOR ANCHOR

1.

NOI Growth

Cumulative Contractual Growth During 10-yr Lease Term

45%

40%

35%

30%

25%

20%

15%

10%

5%

0%

31%

9%

Street

3% Bumps

Suburban

1% Bumps

2.

Lease Spreads

Not All Spreads are Created Equal

45% Total Growth

45%

40%

45% Total Growth

35%

30%

25%

20%

15%

10%

5%

0%

11%

Rent Sp

read

33% Rent Spread

31%

Contractual

Growth

During Lease

Term

9%

Street Contractual Growth

3% Bumps During Lease Term

Suburban 1% Bumps

4.

Breakeven Spreads

In order to maintain the existing NOI yield following a re-tenanting, a Suburban lease needs a 50% spread, as compared to a 10% spread for a

Street lease.

STREET

SUBURBAN

Starting Rent:

$200

$18

Payback Period:

Year 1

Year 5

Net Effective Rent:

$209

$10.33

Strong Leasing Fundamentals Driving Internal Growth

MARK TO MARKET PRY LOOSE LEASE UP

40%+ Spread

(half penny of FFO accretion)

70%+ Spreads

(on Armitage Ave. from 2024 to date)

570 bps of Occupancy Gains

(in Street/Urban portfolio YoY)

Fueling Growth Beyond 2026…

$.03 - $.05 of FFO

$.03 - $.05 of FFO

SAN FRANCISCO KNOX HENDERSON - DALLAS

CORPORATE UPDATE 2026 INTERNAL GROWTH 19

DELIVERED

Signed key anchors (Club Studio, T&T Supermarket, Sprouts, and expanded Trader Joe's)

on both development

projects…

COMPLETED

"we saw the elimination of formula retail restrictions which will help these retailers and future tenants get open faster…"

San Francisco Momentum Driving Growth

"60,000 sf of space remaining to lease, in addition to some accretive pry loose opportunities, can continue to unlock the meaningful embedded value within our two San Francisco centers"[1]

STILL TO COME

Lease up

the remaining 60k sqft…

1. Q1 2026 Earnings Call

CORPORATE UPDATE 2026 INTERNAL GROWTH 20

EXPANSION PHASE

2024-2025-2026

Breaking ground,

Design, & development of 10 incremental buildings ( approx.. 170k square feet)

INCEPTION PHASE

2022

Acquired assets 15 retail buildings (120K square feet)

Knox - Henderson - Dallas

"80% of our retail on the street is now spoken for"

STABILIZATION PHASE

2027-2028

$.03 -$.05 FFO Accretion

OCCUPANCY PHASE

2027-2028

Lease Commencements

1. Q1 2026 Earnings Call

Disclaimer

Acadia Realty Trust published this content on May 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 05, 2026 at 12:08 UTC.