Acadia Realty Trust is a fully integrated equity real estate investment trust (REIT). The Company is focused on the ownership, acquisition, development, and management of retail properties located primarily in high-barrier-to-entry, supply-constrained, densely populated metropolitan areas in the United States. The Company operates through three segments: Core Portfolio, Funds and Structured Financing. The Company’s Core Portfolio segment consists primarily of retail properties located primarily in high-barrier-to-entry, densely populated metropolitan areas with a long-term investment horizon. The Company’s Funds segment holds primarily retail real estate in which the Company co-invests with high-institutional investors. The Company’s Structured Financing segment consists of earnings and expenses related to notes and mortgages receivable, which are held within the Core Portfolio or the Funds. The Company has ownership interests in approximately 151 properties within its core portfolio.