Acadia Realty Trust · NYSE:AKR
Acadia Realty Trust — Corporate Update (September 2026)
55 slides from Acadia Realty Trust's corporate update, September 2026
Slide 1: Corporate Update September 2026
Corporate Update September 2026
Slide 2: Table of Contents
TABLE OF CONTENTS 2 3 Overview Our street retail thesis is working 9 Internal Growth Sector Leading contractual and market rent growth 22 Accretive Acquisitions Earnings, NAV and growth accretive 47 Investment Management Platform Institutional capital, a profitable complement 50 Balance Sheet Liquid
Slide 3: Overview
CORPORATE UPDATE SEPT 2026 3 Overview Our street retail thesis is working Williamsburg, NYC
Slide 4: Dual Platforms With One Growth Strategy
CORPORATE UPDATE SEPT 2026 OVERVIEW 4 Dual Platforms With One Growth Strategy Street and urban retail in the nation's most dynamic corridors, complemented by institutional capital REIT Portfolio Investment Management Platform ~$3.5B AUM | ~85% of NAV ~$3.0B AUM | ~15% of NAV • Street and urban retai
Slide 5: Why Acadia?
CORPORATE UPDATE SEPT 2026 OVERVIEW 5 STRONG INTERNAL Why 1 GROWTH Street-retail structural advantage: contractual steps, FMV resets, lower CapEx Acadia? 6% average same-property NOI growth over the last 10 quarters since 2024 An irreplaceable street retail portfolio, a ACCRETIVE complementary inves
Slide 6: REIT Portfolio: Pathway to Outsized Growth
CORPORATE UPDATE SEPT 2026 OVERVIEW 6 REIT Portfolio: Pathway to Outsized Growth STREET RETAIL DRIVING OUTSIZED GROWTH 2.5% Blended contractual escalators (3% street) + 1% to 2% Mark to market, FMV and pry loose1 + 1% to 2% Lease up = 4.5% to 6.5% ANNUAL INTERNAL GROWTH ADDITIONAL GROWTH DRIVERS + R
Slide 7: Three Levers Driving Outsized Internal Growth
CORPORATE UPDATE SEPT 2026 OVERVIEW 7 Three Levers Driving Outsized Internal Growth Mark to market/FMV resets, pry loose, lease up: multiple levers unique to our street retail portfolio MARK TO MARKET AND FMV RESETS PRY LOOSE LEASE UP COMING SOON 91% Cash Spreads on New Leases 75% Spread $8.9M New L
Slide 8: Q2 Highlights
CORPORATE UPDATE SEPT 2026 OVERVIEW 8 Q2 Highlights Internal and external growth drove a second straight guidance raise THE QUARTER 8.7% 11% Same property NOI growth Increase in YoY quarterly FFO per share Street retail grew 15.6% $16.5M $652M Signed not open pipeline, 7% of ABR Acquisitions as of Q
Slide 9: Internal Growth
9 CORPORATE UPDATE SEPT 2026 Internal Growth Sector leading contractual and market rent growth SoHo, NYC
Slide 10: Our High-Growth Prime Corridors
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 10 Our High-Growth Prime Corridors 135 storefronts across 14 prime street retail corridors, in markets where brands HAVE to be NEW YORK CHICAGO WASHINGTON DC LOS ANGELES SoHo Flatiron/Union Sq. Gold Coast Georgetown West Hollywood Williamsburg Madison Ave.
Slide 11: Why Street Fundamentals Are Driving Our Growth
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 11 Why Street Fundamentals Are Driving Our Growth Brands shift from department stores to direct to consumer locations have deepened the tenant pool NEW YORK, MADISON AVE. CHICAGO, ARMITAGE AVE. TENANT DEMAND, DTC AND LUXURY 4.9% 0% Vacancy, lowest in nearly
Slide 12: The Brands Choosing Our Streets
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 12 The Brands Choosing Our Streets Brands you know and (emerging brands you will know) are choosing key streets to launch, build identity and grow A representative sample of brands on our key corridors
Slide 13: Located Where The Consumer Lives
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 13 Located Where The Consumer Lives Peer Leading Demographics 547K 3.4x +5% AKR average 3-mile AKR population vs. peer AKR median HH income vs. population average peers 3-MILE POPULATION 3-MILE MEDIAN HH INCOME 547K $119K $113K 162K AKR Peer Avg. AKR Peer A
Slide 14: Street Retail: Structured for Growth
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 14 Street Retail: Structured for Growth 01 02 03 CONTRACTUAL RENT MARK TO MARKET LOWER COST TO ESCALATORS OPPORTUNITIES GROW RENT • Higher contractual annual • Fair value resets on renewal • Lower leasing capex as a % of rent steps (typically 3% rent drives
Slide 15: Our Street Retail Portfolio - Embedded Rent Growth Opportunity
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 15 Our Street Retail Portfolio - Embedded Rent Growth Opportunity APPROX. 25% BELOW MARKET PORTFOLIO-WIDE | $20M to $25M OF EMBEDDED ABR UPSIDE % BELOW MARKET TODAY representative sample of our street corridors SOHO, MANHATTAN ARMITAGE AVE., CHICAGO APPROX.
Slide 16: Control of a Street Creates Pricing Power
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 16 Control of a Street Creates Pricing Power 1 Own enough of a corridor 2 Curate the tenancy 3 Drive Tenant Sales M ST. NORTH 6TH ST. ARMITAGE AVE. Georgetown, DC Williamsburg, Brooklyn Chicago ~25% 2-3X 10% 1 Street Control 2 Leasing Velocity 3 Excess Rent
Slide 17: Redevelopment and Development
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 17 Redevelopment and Development ADDITIONAL GROWTH DRIVERS 10% of projected 2026 FFO from the current pipeline OR MORE Incremental internal growth as redevelopment and development projects reach stabilization, above the 2026 guidance midpoint. FULLY FUNDED
Slide 18: Building Earnings Momentum into 2027 and 2028
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 18 Building Earnings Momentum into 2027 and 2028 $0.06 to $0.10 OF INCREMENTAL FFO Over 6% earnings growth from these two projects: $0.08 on $1.25 of 2026 guidance, each at midpoint REDEVELOPMENT SAN FRANCISCO DEVELOPMENT KNOX HENDERSON, DALLAS Incremental
Slide 19: San Francisco
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 19 San Francisco INCREMENTAL FFO PER SHARE 4 KEY ANCHORS SIGNED MOMENTUM DRIVING GROWTH $0.03 to $0.05 FROM LEASE UP AND PRY LOOSE 2 CENTERS LEASING UP SIGNED KEY ANCHORS Club Studio · T&T Supermarket · Sprouts · Expanded Trader Joe's MARKET TAILWIND Formul
Slide 20: Knox Henderson, Dallas
CORPORATE UPDATE SEPT 2026 INTERNA L GROWTH 20 Knox Henderson, Dallas STABILIZED FFO PER SHARE 8% to 10% BUILDING SCALE WITH CONVICTION $0.03 to $0.05 TARGET YIELD ON COST FULL YEAR RUN RATE 31 buildings owned SCALED SINCE 2022 15 buildings acquired in 2022 · 10 developed · 6 acquired since 2024, mo
Slide 21: Additional Earnings Upside
CORPORATE UPDATE SEPT 2026 INTERNAL GROWTH 21 Additional Earnings Upside $0.05 to $0.07 OF POTENTIAL FFO PER SHARE, Incremental upside from these two assets, FROM BOTH ASSETS COMBINED measured against projected 2026 earnings STABILIZATION CITY POINT, NYC REDEVELOPMENT / LEASE-UP 840 N. MICHIGAN, CHI
Slide 22: Accretive Acquisitions
CORPORATE UPDATE SEPT 2026 Accretive Acquisitions Earnings, NAV and growth accretive West Village, NYC
Slide 23: Building Scale With Conviction: Opportunistically and Accretively
CORPORATE UPDATE SEPT 2026 ACCRETIVE ACQUISITIONS 23 Building Scale With Conviction: Opportunistically and Accretively TOTAL ACQUISITIONS SINCE 2024 ~$1.6 Billion $800M $800M REIT Street Retail Acquisitions Investment Management Acquisitions 1 +$0.08 to $0.09 of incremental annual FFO from these acq
Slide 24: Q3 2026 | Building Scale in Our Existing Corridors
CORPORATE UPDATE SEPT 2026 ACCRETIVE ACQUISITIONS 24 Q3 2026 | Building Scale in Our Existing Corridors ~$119M 7 store fronts $400-500M closed QTD, street retail high-growth corridors FY26 street retail target 385 BLEECKER — PHOTO PHOTO TO COME PHOTO TO COME 371-373 BLEECKER — PHOTO West Village, NY
Slide 25: Building Scale, Market by Market
CORPORATE UPDATE SEPT 2026 ACCRETIVE ACQUISITIONS 25 Building Scale, Market by Market WHERE WE OWN THE STREET TODAY, AND WHERE WE ARE BUILDING NEXT 44 storefronts added across 12 markets since 2024 AT SCALE AND GROWING · 184 SCALE IN PROCESS · 50 NEW MARKETS · 6 HENDERSON, TX ▴ SOHO, NYC ▴ PALM BEAC
Slide 26: Georgetown
Georgetown MARKET RENT GROWTH AT SCALE AND GROWING INVESTED SINCE 2024 26 WASHINGTON DC +10% $117M 1 Acquisitions M STREET CAGR '23 TO '26E 52 STOREFRONTS OWNED SEE FOLLOWING PAGE FOR FULL STREET MAP
Slide 27: Georgetown
A CCRETIVE A CQ UISITIONS CORPORATE UPDATE SEPT 2026 27 Georgetown WASHINGTON DC M STREET $117M INVESTED SINCE 2024 52 GLOWBAR STOREFRONTS OWNED Acadia owned storefronts
Slide 28: Williamsburg
Williamsburg MARKET RENT GROWTH AT SCALE AND GROWING INVESTED SINCE 2024 28 BROOKLYN – NYC +15% $164M 4 acquisitions CAGR '23 TO '26E 22 STOREFRONTS OWNED SEE FOLLOWING PAGE FOR FULL STREET MAP
Slide 29: Williamsburg
Williamsburg 29 BROOKLYN – NYC $164M 22 Acadia owned storefronts Acquired 2024–26 INVESTED SINCE 2024 STOREFRONTS OWNED 4 acquisitions North 6th Street Corridor LAND PARCEL Bedford Avenue
Slide 30: Post Acquisition Leasing Converts Below-Market Rents into Cash
CORPORATE UPDATE 2026 ACCRETIVE ACQUISITIONS 30 Post Acquisition Leasing Converts Below-Market Rents into Cash COMING SOON SoHo, 92-94 Greene Street Williamsburg, North 6th Street BOTH DEALS Acquired 2024 6.0% Sub-5.0% 100+ bps CURRENT YIELD ON COST MARKET CAP RATE TODAY SPREAD CREATED Curated leasi
Slide 31: Armitage
AT SCALE AND GROWING 31 Armitage CHICAGO MARKET RENT GROWTH +15% $4.4M INVESTED SINCE 2024 1 Acquisition 31 CAGR '23 TO '26E 13 STOREFRONTS OWNED Acadia owned storefronts Acquired 2024–26
Slide 32: West Village
West Village MARKET RENT GROWTH AT SCALE AND GROWING INVESTED SINCE 2024 32 NYC +25% $40M 3 acquisitions BLEECKER STREET CAGR '23 TO '26E 10 STOREFRONTS OWNED Acadia owned storefronts
Slide 33: Bleecker Street: Conviction, Then Scale
CORPORATE UPDATE SEPT 2026 ACCRETIVE ACQUISITIONS 33 Bleecker Street: Conviction, Then Scale How We Assembled It Ten storefronts assembled through a series of separate transactions since 2024 22 Months ACQUISITION WINDOW 10 Storefronts CONTROL OF THE STREET +25% MARKET RENT CAGR SINCE 2024 When we h
Slide 34: Rush & Walton
34 Rush & Walton CHICAGO CORRIDOR FOOTPRINT 8 AT SCALE AND GROWING 34 GOLD COAST STOREFRONTS OWNED Acadia owned storefronts
Slide 35: SoHo
SoHo MARKET RENT GROWTH AT SCALE AND GROWING INVESTED SINCE 2024 35 NYC +20% $184M 4 acquisitions CAGR '23 TO '26E 21 STOREFRONTS OWNED SEE FOLLOWING PAGE FOR FULL STREET MAP
Slide 36: SoHo
SoHo 36 NYC $184M INVESTED SINCE 2024 4 acquisitions 21 STOREFRONTS OWNED Acadia owned storefronts Acquired 2024–26
Slide 37: Upper Madison
Upper Madison MARKET RENT GROWTH SCALE IN PROCESS INVESTED SINCE 2024 37 MADISON AVENUE +25% $21M 1 acquisition NYC CAGR '23 TO '26E 8 STOREFRONTS OWNED SEE FOLLOWING PAGE FOR FULL STREET MAP
Slide 38: Upper Madison
A CCRETIVE A CQ UISITIONS CORPORATE UPDATE 2026 38 Upper Madison NYC MADISON AVENUE $21M INVESTED SINCE 2024 8 STOREFRONTS OWNED Acadia owned storefronts Acquired 2024–26
Slide 39: West Hollywood
West Hollywood MARKET RENT GROWTH SCALE IN PROCESS INVESTED SINCE 2024 39 CALIFORNIA +15% $29M 1 acquisition MELROSE PLACE – MELROSE AVE – BEVERLY BLVD CAGR '23 TO '26E 6 STOREFRONTS OWNED Acadia owned storefronts Note: Map reflects Melrose Place only and the recent acquisition listed was on Melrose
Slide 40: Westport
Westport CORRIDOR FOOTPRINT 40 MAIN STREET 5 SCALE IN PROCESS CONNECTICUT STOREFRONTS OWNED Acadia owned storefronts
Slide 41: Greenwich
Greenwich SCALE IN PROCESS INVESTED SINCE 2024 41 CONNECTICUT $10M 1 acquisition GREENWICH AVENUE 5 STOREFRONTS OWNED Acadia owned storefronts Acquired 2024–26
Slide 42: Flatiron / Union Square
42 Flatiron / Union Square MARKET RENT GROWTH SCALE IN PROCESS NYC +20% $57M INVESTED SINCE 2024 2 acquisitions CAGR '23 TO '26E 5 STOREFRONTS OWNED COMING SOON Acadia owned storefronts Acquired 2024–26
Slide 43: 129 Fifth Avenue: Exceeding Underwriting
CORPORATE UPDATE SEPT 2026 ACCRETIVE ACQUISITIONS 43 129 Fifth Avenue: Exceeding Underwriting Flatiron District, Manhattan. Acquired vacant in Q2 2026 and re-leased at a premium. 1 STOREFRONT 30 DAYS 9%+ SPECIALTY RETAILER TO SIGNED LEASE YIELD ON COST • Underwritten vacancy to re-lease at a premium
Slide 44: Palm Beach
Palm Beach MARKET RENT GROWTH NEW MARKET INVESTED SINCE 2024 44 FLORIDA +20% $43M 1 acquisition CAGR '23 TO '26E 3 STOREFRONTS OWNED Acadia owned storefronts Acquired 2024–26
Slide 45: Newbury Street
Newbury Street MARKET RENT GROWTH NEW MARKET INVESTED SINCE 2024 45 BOSTON +10% $110M 1 acquisition CAGR '23 TO '26E 3 STOREFRONTS OWNED SEE FOLLOWING PAGE FOR FULL STREET MAP
Slide 46: Newbury Street
Newbury Street 46 BOSTON A BLOCK $110M B BLOCK INVESTED SINCE 2024 1 acquisition 3 STOREFRONTS OWNED C BLOCK Acadia owned storefronts Acquired 2024–26 D BLOCK
Slide 47: Investment Management Platform
CORPORATE UPDATE SEPT 2026 47 Investment Management Platform Institutional capital, a profitable complement The LINQ Promenade, Las Vegas
Slide 48: Our Complementary Investment Management Platform
CORPORATE UPDATE SEPT 2026 INVESTMENT MANAGEMENT 48 Our Complementary Investment Management Platform Buy, fix, sell: institutional capital funds high return opportunities alongside our own balance sheet Value-Add Development Distressed Retailer Real Estate Ground-up and redevelopment projects in sup
Slide 49: Investment Management Highlights
CORPORATE UPDATE SEPT 2026 INVESTMENT MANAGEMENT 49 Investment Management Highlights NEARLY $1B IN TRANSACTIONS YTD, INCLUDING $500M+ DISPOSED/RECAPITALIZED AT NEARLY 2X EQUITY MULTIPLE — WITH $200M+ MORE TARGETED BY YEAR-END $425M $435M $68M Shops at Skyview acquisition in Fund V Recapitalization i
Slide 50: Balance Sheet
CORPORATE UPDATE SEPT 2026 50 Balance Sheet Liquidity, flexibility and dry powder M Street, Georgetown DC
Slide 51: Strong Balance Sheet to Support Exponential Growth
CORPORATE UPDATE SEPT 2026 BALANCE SHEET 51 Strong Balance Sheet to Support Exponential Growth POSITIONED TO PREFUND EXTERNAL GROWTH THAT RAPIDLY MOVES THE NEEDLE Minimal near-term exposure to interest rates due to interest 2030 rate swap contracts No significant REIT debt maturities until 2030 Will
Slide 52: Why Acadia Realty Trust
CORPORATE UPDATE SEPT 2026 OUTLOOK 52 Why Acadia Realty Trust A highly differentiated business High visibility and conviction on internal growth An irreplaceable street retail portfolio A balance sheet with liquidity and flexibility A profitable investment management platform
Slide 53: Corporate Responsibility Highlights
CORPORATE UPDATE SEPT 2026 53 Corporate Responsibility Highlights
Slide 54: Safe Harbor Statement
CORPORATE UPDATE SEPT 2026 54 Safe Harbor Statement Certain statements in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (
Slide 55: Investor Relations
INVESTOR RELATIONS investorrelations@acadiarealty.com acadiarealty.com 914-288-8100 Acadia Realty Trust
Acadia Realty Trust — Corporate Update (September 2026) on 6ix