38 some of these investments historically have also included , and may in the future include , joint ventures with private equity investors for the purpose of making investments in operating retailers with significant embedded value in their real estate assets . maintain a strong and flexible balance sheet through conservative financial practices while ensuring access to sufficient capital to fund future growth . significant developments during 2016 investments during the year ended december 31 , 2016 ( `` 2016 `` ) , within our core and fund portfolios we acquired 22 properties aggregating $ 864.3 million as follows : in our core portfolio we acquired nine consolidated properties with an aggregate purchase price of $ 519.6 million and two unconsolidated properties with an aggregate purchase price of $ 107.4 million ( note 4 ) . in fund iv we acquired 11 consolidated properties with an aggregate purchase price of $ 237.3 million ( note 2 ) . in addition to our real estate investments we : issued one core note receivable and three fund iv notes receivable aggregating $ 47.5 million , which were collateralized by four mixed-use real estate properties ( note 3 ) ; restructured a $ 30.9 million core mezzanine loan and replaced it with a new $ 153.4 million loan , which was made to our partners in the brandywine portfolio ( note 4 ) ; and obtained through our operating partnership an additional 8.3 % interest in fund ii from a limited partner for $ 18.4 million ( note 10 ) . dispositions of real estate during 2016 , within our fund portfolio we sold two properties for an aggregate sales price of $ 211.6 million and recognized aggregate gains of $ 94.6 million as follows : fund iii sold two consolidated properties with an aggregate sales price of $ 153.8 million and recognized an aggregate gain on disposition of properties of $ 82.0 million ( note 2 ) . one of these properties was a 65 % interest in the cortlandt town center , for which the remaining 35 % interest was carried as an unconsolidated investment after the sale . subsequently , fund iii sold the remaining 35 % interest in the cortlandt town center for $ 57.8 million , for which the gain was $ 36.0 million and our pro rata share was $ 12.6 million and was recognized within equity in earnings of unconsolidated affiliates on the consolidated statement of income ( note 4 ) . capital raised during 2016 , we issued approximately 12.9 million shares of our common stock to raise net proceeds of $ 452.4 million . of these issuances , 4.5 million shares were issued under our at-the-market equity program , 4.8 million shares were issued in a follow-on public offering and 3.6 million shares were issued in a forward sale agreement ( note 10 ) . during 2016 , we also issued common and preferred op units aggregating $ 31.4 million to a third party to acquire real estate ( note 10 ) . financings during 2016 , we obtained $ 150.0 million of new unsecured term loans in our core portfolio . in addition , we obtained or assumed 14 new consolidated mortgages aggregating $ 252.9 million ( note 7 ) . development activity during 2016 , fund iv acquired two properties in development . fund ii also placed a portion of its city point project into service with an accumulated cost of $ 187.4 million ( note 2 ) . 39 change in management on june 27 , 2016 , john gottfried assumed the role of chief financial officer of acadia realty trust . results of operations see note 12 in the notes to consolidated financial statements for an overview of our three reportable segments . during the year ended december 31 , 2016 , we revised how we allocate general and administrative and income tax expenses among our segments . all prior periods presented have been revised to conform to this new presentation . a discussion of the significant variances and primary factors contributing thereto within the results of operations for the years ended december 31 , 2016 , 2015 and 2014 are addressed below : comparison of the year ended december 31 , 2016 ( `` 2016 `` ) to the year ended december 31 , 2015 ( `` 2015 `` ) replace_table_token_19_th rental income in the core portfolio decreased $ 1.0 million primarily as a resul t of a $ 9.3 million decrease due to the change in control of the brandywine portfolio ( note 4 ) offset by property acquisitions in 2015 and 2016 ( `` 2016 core acquisitions `` ) . rental income in the funds decreased $ 5.0 million primarily as a result of a decrease of $ 12.7 million relating to property dispositions in 2015 and 2016 ( `` 2016 fund dispositions `` ) . these decreases were offset by additional rental income of $ 4.3 million related to property acquisitions in 2015 and 2016 ( `` 2016 fund acquisitions `` ) . expense reimbursements in the funds decreased $ 4.2 million primarily due to the 2016 fund dispositions and a decrease in property operating expenses during 2016. the $ 1.0 million increase in other income in the core portfolio relates to termination income received at a property . replace_table_token_20_th t he $ 8.4 million increase in depreciation and amortization in the core portfolio was primarily attributable to the 2016 core acquisitions . unallocated general and administrative increased $ 10.2 million due to the acceleration of equity-based compensation awards related to retirements in 2016 totaling $ 4.2 million as well as increased compensation expense of $ 4.7 million , which included $ 3.9 million related to the program ( note 13 ) . the remaining $ 1.3 million relates to an increase in other professional fees . story_separator_special_tag such are not determinable at this time . accordingly , the above table does not include rents for this lease beyond 2031 . ( b ) in conjunction with the development of our core portfolio and fund properties , we have entered into construction commitments with general contractors . we intend to fund these requirements with existing liquidity . 49 off-balance sheet arrangements we have the following investments made through joint ventures for the purpose of investing in operating properties . we account for these investments using the equity method of accounting . as such , our financial statements reflect our investment and our share of income and loss from , but not the individual assets and liabilities , of these joint ventures . see note 4 in the notes to consolidated financial statements , for a discussion of our unconsolidated investments . the operating partnership 's pro-rata share of unconsolidated debt related to those investments is as follows ( dollars in millions ) : replace_table_token_30_th in addition , we have arranged for the provision of one separate letter of credit in connection with certain leases and investments . as of december 31 , 2016 there was no outstanding balance under the letters of credit . if the letters of credit were fully drawn , the maximum amount of our exposure would be $ 2.5 million . one of our unconsolidated affiliates is a party to an interest rate libor swap with a notional value of $ 20.9 million , which effectively fixes the interest rate at 3.49 % and matures in june 2023. our pro-rata share of the fair value of such affiliate 's derivative assets totaled $ 0.2 million as of december 31 , 2016 . historical cash flow cash flows for 2016 compared to 2015 the following table compares the historical cash flow for the year ended december 31 , 2016 with the cash flow for the year ended december 31 , 2015 ( dollars in millions ) : replace_table_token_31_th operating activities our operating activities provided $ 1.8 million less cash during 2016 , primarily due to ( i ) $ 7.8 million of lease payments relating to 991 madison avenue during 2016 , and ( ii ) additional distributions from the mervyns i & ii portfolios during 2015. these items were partially offset by additional cash flow from 2016 acquisitions . 50 investing activities during 2016 , our investing activities used an additional $ 256.5 million of cash , primarily for ( i ) an additional $ 156.9 million used for the acquisition of real estate , ( ii ) $ 108.9 million of additional cash used for the issuance of notes receivable , ( iii ) $ 47.9 million more cash used in investments and advances to unconsolidated affiliates , and ( iii ) $ 32.3 million less cash received from the disposition of properties , including unconsolidated affiliates . these items were partially offset by ( i ) $ 42.8 million more cash received from return of capital from unconsolidated affiliates ( ii ) $ 26.8 million more cash received from repayments of notes receivable and ( iii ) $ 14.9 million less cash used for development and property improvement costs , financing activities our financing activities provided $ 402.1 million more cash during 2016 , primarily from ( i ) $ 386.9 million more cash received from the issuance of common shares and ( ii ) an increase of $ 259.6 million from capital contributions from noncontrolling interests . these items were partially offset by ( i ) a decrease of $ 210.7 million of cash provided from net borrowings , ( ii ) distributions to noncontrolling interests increased $ 21.4 million , ( iii ) $ 7.3 million more cash used for deferred financing and other costs , and ( iv ) an additional $ 5.0 million of cash used to pay dividends to common shareholders . cash flows for 2015 compared to 2014 replace_table_token_32_th operating activities our operating activities provided $ 31.1 million of additional cash during 2015 , primarily from ( i ) an increase in cash flow from core and fund property acquisitions and ( ii ) an increase in cash flow from our structured financing portfolio . investing activities during 2015 , our investing activities used an additional $ 86.0 million of cash , primarily for ( i ) an additional $ 94.1 million was used for the acquisition of real estate , ( ii ) $ 62.5 million less cash was collected from the return of capital from unconsolidated affiliates , ( iii ) $ 28.5 million more was used for development and property improvement costs , ( iv ) $ 17.3 million of additional cash was issued for notes receivable , ( v ) $ 14.3 million less cash received from the disposition of properties , including unconsolidated affiliates , and ( vi ) $ 4.3 million more was used for deferred leasing costs . these items were partially offset by $ 132.8 million less cash used in investments and advances to unconsolidated affiliates . financing activities our financing activities provided $ 228.3 million less cash during 2015 , primarily from ( i ) $ 294.2 million less cash received from the issuance of common shares , ( ii ) cash provided from net borrowings decreased $ 16.4 million , ( iii ) an additional $ 33.1 million of cash was used to pay dividends to common shareholders , and ( iv ) capital contributions from noncontrolling interests decreased $ 22.5 million . these items were partially offset by $ 136.7 million of less cash distributed to noncontrolling interests . critical accounting policies management 's discussion and analysis of financial condition and results of operations is based upon our consolidated financial statements , which have been prepared in accordance with u.s. gaap . the preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities

liquidity and capital resources uses of liquidity and cash requirements our principal uses of liquidity are ( i ) distributions to our shareholders and op unit holders , ( ii ) investments which include the funding of our capital committed to the funds and property acquisitions and development/re-tenanting activities within our core portfolio , ( iii ) distributions to our fund investors and ( iv ) debt service and loan repayments . distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90 % of our taxable income to our shareholders . for the year ended december 31 , 2016 , we paid dividends and distributions on our common shares , common op units and preferred op units totaling $ 98.7 million . this amount included an $ 18.8 million special dividend that was paid in january 2016 , which related to the operating partnership 's share of cash proceeds from property dispositions during 2015. the balance of the distribution was funded from the operating partnership 's share of operating cash flow . distributions of $ 78.3 million were made to noncontrolling interests in fund iii during the year ended december 31 , 2016. this resulted from proceeds related to the financing of 640 broadway and dispositions of cortlandt town center and heritage shops as discussed in note 2 and note 4 . investments in real estate during the year ended december 31 , 2016 , within our core and fund portfolios we acquired 22 properties aggregating $ 864.3 million as follows : ( i ) in our core portfolio we acquired nine consolidated properties with an aggregate purchase price of $ 519.6 million and two unconsolidated properties with an aggregate purchase price of $ 107.4 million ( note 4 ) and ( ii ) in fund iv we acquired 11 consolidated properties with an aggregate purchase price of $ 237.3 million ( note 2 ) . capital commitments during 2016 , we made capital contributions of $ 58.4 million to the funds in connection with acquisitions and development costs . capital contributed will be used by the funds to acquire and operate real estate assets .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources uses of liquidity and cash requirements our principal uses of liquidity are ( i ) distributions to our shareholders and op unit holders , ( ii ) investments which include the funding of our capital committed to the funds and property acquisitions and development/re-tenanting activities within our core portfolio , ( iii ) distributions to our fund investors and ( iv ) debt service and loan repayments . distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90 % of our taxable income to our shareholders . for the year ended december 31 , 2016 , we paid dividends and distributions on our common shares , common op units and preferred op units totaling $ 98.7 million . this amount included an $ 18.8 million special dividend that was paid in january 2016 , which related to the operating partnership 's share of cash proceeds from property dispositions during 2015. the balance of the distribution was funded from the operating partnership 's share of operating cash flow . distributions of $ 78.3 million were made to noncontrolling interests in fund iii during the year ended december 31 , 2016. this resulted from proceeds related to the financing of 640 broadway and dispositions of cortlandt town center and heritage shops as discussed in note 2 and note 4 . investments in real estate during the year ended december 31 , 2016 , within our core and fund portfolios we acquired 22 properties aggregating $ 864.3 million as follows : ( i ) in our core portfolio we acquired nine consolidated properties with an aggregate purchase price of $ 519.6 million and two unconsolidated properties with an aggregate purchase price of $ 107.4 million ( note 4 ) and ( ii ) in fund iv we acquired 11 consolidated properties with an aggregate purchase price of $ 237.3 million ( note 2 ) . capital commitments during 2016 , we made capital contributions of $ 58.4 million to the funds in connection with acquisitions and development costs . capital contributed will be used by the funds to acquire and operate real estate assets .
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 Suspicious Activity Report : 38 some of these investments historically have also included , and may in the future include , joint ventures with private equity investors for the purpose of making investments in operating retailers with significant embedded value in their real estate assets . maintain a strong and flexible balance sheet through conservative financial practices while ensuring access to sufficient capital to fund future growth . significant developments during 2016 investments during the year ended december 31 , 2016 ( `` 2016 `` ) , within our core and fund portfolios we acquired 22 properties aggregating $ 864.3 million as follows : in our core portfolio we acquired nine consolidated properties with an aggregate purchase price of $ 519.6 million and two unconsolidated properties with an aggregate purchase price of $ 107.4 million ( note 4 ) . in fund iv we acquired 11 consolidated properties with an aggregate purchase price of $ 237.3 million ( note 2 ) . in addition to our real estate investments we : issued one core note receivable and three fund iv notes receivable aggregating $ 47.5 million , which were collateralized by four mixed-use real estate properties ( note 3 ) ; restructured a $ 30.9 million core mezzanine loan and replaced it with a new $ 153.4 million loan , which was made to our partners in the brandywine portfolio ( note 4 ) ; and obtained through our operating partnership an additional 8.3 % interest in fund ii from a limited partner for $ 18.4 million ( note 10 ) . dispositions of real estate during 2016 , within our fund portfolio we sold two properties for an aggregate sales price of $ 211.6 million and recognized aggregate gains of $ 94.6 million as follows : fund iii sold two consolidated properties with an aggregate sales price of $ 153.8 million and recognized an aggregate gain on disposition of properties of $ 82.0 million ( note 2 ) . one of these properties was a 65 % interest in the cortlandt town center , for which the remaining 35 % interest was carried as an unconsolidated investment after the sale . subsequently , fund iii sold the remaining 35 % interest in the cortlandt town center for $ 57.8 million , for which the gain was $ 36.0 million and our pro rata share was $ 12.6 million and was recognized within equity in earnings of unconsolidated affiliates on the consolidated statement of income ( note 4 ) . capital raised during 2016 , we issued approximately 12.9 million shares of our common stock to raise net proceeds of $ 452.4 million . of these issuances , 4.5 million shares were issued under our at-the-market equity program , 4.8 million shares were issued in a follow-on public offering and 3.6 million shares were issued in a forward sale agreement ( note 10 ) . during 2016 , we also issued common and preferred op units aggregating $ 31.4 million to a third party to acquire real estate ( note 10 ) . financings during 2016 , we obtained $ 150.0 million of new unsecured term loans in our core portfolio . in addition , we obtained or assumed 14 new consolidated mortgages aggregating $ 252.9 million ( note 7 ) . development activity during 2016 , fund iv acquired two properties in development . fund ii also placed a portion of its city point project into service with an accumulated cost of $ 187.4 million ( note 2 ) . 39 change in management on june 27 , 2016 , john gottfried assumed the role of chief financial officer of acadia realty trust . results of operations see note 12 in the notes to consolidated financial statements for an overview of our three reportable segments . during the year ended december 31 , 2016 , we revised how we allocate general and administrative and income tax expenses among our segments . all prior periods presented have been revised to conform to this new presentation . a discussion of the significant variances and primary factors contributing thereto within the results of operations for the years ended december 31 , 2016 , 2015 and 2014 are addressed below : comparison of the year ended december 31 , 2016 ( `` 2016 `` ) to the year ended december 31 , 2015 ( `` 2015 `` ) replace_table_token_19_th rental income in the core portfolio decreased $ 1.0 million primarily as a resul t of a $ 9.3 million decrease due to the change in control of the brandywine portfolio ( note 4 ) offset by property acquisitions in 2015 and 2016 ( `` 2016 core acquisitions `` ) . rental income in the funds decreased $ 5.0 million primarily as a result of a decrease of $ 12.7 million relating to property dispositions in 2015 and 2016 ( `` 2016 fund dispositions `` ) . these decreases were offset by additional rental income of $ 4.3 million related to property acquisitions in 2015 and 2016 ( `` 2016 fund acquisitions `` ) . expense reimbursements in the funds decreased $ 4.2 million primarily due to the 2016 fund dispositions and a decrease in property operating expenses during 2016. the $ 1.0 million increase in other income in the core portfolio relates to termination income received at a property . replace_table_token_20_th t he $ 8.4 million increase in depreciation and amortization in the core portfolio was primarily attributable to the 2016 core acquisitions . unallocated general and administrative increased $ 10.2 million due to the acceleration of equity-based compensation awards related to retirements in 2016 totaling $ 4.2 million as well as increased compensation expense of $ 4.7 million , which included $ 3.9 million related to the program ( note 13 ) . the remaining $ 1.3 million relates to an increase in other professional fees . story_separator_special_tag such are not determinable at this time . accordingly , the above table does not include rents for this lease beyond 2031 . ( b ) in conjunction with the development of our core portfolio and fund properties , we have entered into construction commitments with general contractors . we intend to fund these requirements with existing liquidity . 49 off-balance sheet arrangements we have the following investments made through joint ventures for the purpose of investing in operating properties . we account for these investments using the equity method of accounting . as such , our financial statements reflect our investment and our share of income and loss from , but not the individual assets and liabilities , of these joint ventures . see note 4 in the notes to consolidated financial statements , for a discussion of our unconsolidated investments . the operating partnership 's pro-rata share of unconsolidated debt related to those investments is as follows ( dollars in millions ) : replace_table_token_30_th in addition , we have arranged for the provision of one separate letter of credit in connection with certain leases and investments . as of december 31 , 2016 there was no outstanding balance under the letters of credit . if the letters of credit were fully drawn , the maximum amount of our exposure would be $ 2.5 million . one of our unconsolidated affiliates is a party to an interest rate libor swap with a notional value of $ 20.9 million , which effectively fixes the interest rate at 3.49 % and matures in june 2023. our pro-rata share of the fair value of such affiliate 's derivative assets totaled $ 0.2 million as of december 31 , 2016 . historical cash flow cash flows for 2016 compared to 2015 the following table compares the historical cash flow for the year ended december 31 , 2016 with the cash flow for the year ended december 31 , 2015 ( dollars in millions ) : replace_table_token_31_th operating activities our operating activities provided $ 1.8 million less cash during 2016 , primarily due to ( i ) $ 7.8 million of lease payments relating to 991 madison avenue during 2016 , and ( ii ) additional distributions from the mervyns i & ii portfolios during 2015. these items were partially offset by additional cash flow from 2016 acquisitions . 50 investing activities during 2016 , our investing activities used an additional $ 256.5 million of cash , primarily for ( i ) an additional $ 156.9 million used for the acquisition of real estate , ( ii ) $ 108.9 million of additional cash used for the issuance of notes receivable , ( iii ) $ 47.9 million more cash used in investments and advances to unconsolidated affiliates , and ( iii ) $ 32.3 million less cash received from the disposition of properties , including unconsolidated affiliates . these items were partially offset by ( i ) $ 42.8 million more cash received from return of capital from unconsolidated affiliates ( ii ) $ 26.8 million more cash received from repayments of notes receivable and ( iii ) $ 14.9 million less cash used for development and property improvement costs , financing activities our financing activities provided $ 402.1 million more cash during 2016 , primarily from ( i ) $ 386.9 million more cash received from the issuance of common shares and ( ii ) an increase of $ 259.6 million from capital contributions from noncontrolling interests . these items were partially offset by ( i ) a decrease of $ 210.7 million of cash provided from net borrowings , ( ii ) distributions to noncontrolling interests increased $ 21.4 million , ( iii ) $ 7.3 million more cash used for deferred financing and other costs , and ( iv ) an additional $ 5.0 million of cash used to pay dividends to common shareholders . cash flows for 2015 compared to 2014 replace_table_token_32_th operating activities our operating activities provided $ 31.1 million of additional cash during 2015 , primarily from ( i ) an increase in cash flow from core and fund property acquisitions and ( ii ) an increase in cash flow from our structured financing portfolio . investing activities during 2015 , our investing activities used an additional $ 86.0 million of cash , primarily for ( i ) an additional $ 94.1 million was used for the acquisition of real estate , ( ii ) $ 62.5 million less cash was collected from the return of capital from unconsolidated affiliates , ( iii ) $ 28.5 million more was used for development and property improvement costs , ( iv ) $ 17.3 million of additional cash was issued for notes receivable , ( v ) $ 14.3 million less cash received from the disposition of properties , including unconsolidated affiliates , and ( vi ) $ 4.3 million more was used for deferred leasing costs . these items were partially offset by $ 132.8 million less cash used in investments and advances to unconsolidated affiliates . financing activities our financing activities provided $ 228.3 million less cash during 2015 , primarily from ( i ) $ 294.2 million less cash received from the issuance of common shares , ( ii ) cash provided from net borrowings decreased $ 16.4 million , ( iii ) an additional $ 33.1 million of cash was used to pay dividends to common shareholders , and ( iv ) capital contributions from noncontrolling interests decreased $ 22.5 million . these items were partially offset by $ 136.7 million of less cash distributed to noncontrolling interests . critical accounting policies management 's discussion and analysis of financial condition and results of operations is based upon our consolidated financial statements , which have been prepared in accordance with u.s. gaap . the preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities

