Acadia Realty Trust reported third quarter 2025 GAAP net earnings of $0.03 per share and Funds From Operations (FFO) Before Special Items of $0.33 per share. The REIT portfolio's same-property Net Operating Income (NOI) increased by 8.2%, with the street retail portfolio experiencing a 13% rise. GAAP and cash leasing spreads on new and renewal leases were 29% and 12%, respectively. Portfolio occupancy increased by 140 basis points to 93.6% as of September 30, 2025. The company completed a $63 million acquisition during the third quarter, bringing total acquisition volume for the year to $487 million. The pro-rata Net Debt-to-EBITDA ratio was reduced to 5.0x. Approximately $212 million of equity was raised during the third quarter and fourth quarter-to-date. The Signed Not Open (SNO) pipeline stands at 5% of Annualized Base Rent $(ABR)$, or $11.9 million.