secwatch.observer — SEC 8-K summary
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Issuer:     ACADIA REALTY TRUST (AKR)
CIK:        0000899629
Form:       8-K
Filed at:   2022-02-15T23:59:59+00:00
Accession:  0000950170-22-001290
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 4.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Acadia Realty restates 2019-2021 financials; improper consolidation of fund investments
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- Non-reliance on prior FS due to consolidation error for two Fund Investments formed 2012/2013; reclassed to unconsolidated affiliates.
- Restatement reduces total assets by $55.8M (Dec 2020) and $57.4M (Dec 2019); liabilities reduced by $58.0M and $59.3M.
- No impact on net income, FFO, or distributions; immaterial EPS adjustments of +/- $0.01 for certain periods.
- Company expects to disclose a material weakness in internal controls over financial reporting in the 2021 10-K.
- No override of controls or misconduct identified; restated FS to be filed in the 2021 10-K.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899629/000095017022001290/0000950170-22-001290-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899629/000095017022001290/akr-20220214.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-001290

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