Acadia Realty Trust

Acadia Realty Trust Logo New York Commercial Real Estate Investment Trust
Acadia Realty Trust Logo

Acadia Realty Trust (NYSE:AKR) is an equity real estate investment trust (REIT) focused on delivering long-term, profitable growth via its dual – core and opportunity fund – platforms.

Our energized team is accomplishing this goal by building a best-in-class, location-driven core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic urban and street-retail corridors, including those in New York, San Francisco, Chicago, Washington DC, and Boston. At the same time, we are amplifying this portfolio’s solid growth by making highly-profitable opportunistic and value-add investments through our series of discretionary, institutional funds. For the trailing 15-year period ended December 31, 2014, Acadia’s stock achieved a cumulative total return of 1,388%, placing our company among the industry’s top-performing shopping center REITs.[1]

Follow Acadia on Twitter @acadiarealty

History

In 2006, Acadia acquired a large number of grocery stores and supermarket chains as part of its expansion. [2]

Recent Projects

City Point - Downtown Brooklyn - Brooklyn, NY

City Point is the largest and most visible mixed-use center in Downtown Brooklyn. When completed, the project will include retail, residential, and office components totaling 1.8 million square feet. City Point is located along Brooklyn’s main retail corridor and at the convergence of the borough’s two main thoroughfares: Flatbush Avenue and Fulton Street. The 675,000 square foot retail center will contain a critical mass of high-quality tenants anchored by Century 21 Department Store, Target, Alamo Drafthouse Cinema, and a collection of food purveyors. Given its location, mix of uses, and size, City Point is the most prominent development in Downtown Brooklyn – one of the fastest-growing neighborhoods in the country.[3]

1151 Third Avenue - Upper East Side - New York, NY

Broughton Street Portfolio - Savannah, GA

Acquisitions

Acadia Realty Trust actively pursues opportunities to fuel its external growth through the acquisition, ownership and redevelopment of retail properties including street retail, urban/infill properties with a strong retail component, as well as suburban shopping centers.

We have a national scope and target both single property and portfolio transactions in markets generally characterized by high barriers-to-entry, dense populations and a constrained retail supply. Today, our footprint primarily extends along the East Coast, from Boston to Miami, and also includes Chicago and San Francisco.

We pursue a dual investment strategy, focusing on both opportunistic/value-add and core/stabilized asset acquisitions. In particular, properties requiring redevelopment and/or re-tenanting are a strategic fit, taking advantage of our in-house leasing, construction, legal and management skills. In recent years, we have also successfully restructured debt and partnership positions, including assets that were subject to bankruptcy foreclosure.

Due to the structure of our investment platform and our credit lines, we are able to act on new opportunities quickly and may close a transaction all cash, as necessary. Deals are structured with consideration to the needs of the seller, including tax-deferment.[9]

Sources

  1. ↑ "Home - Acadia Realty Trust". www.acadiarealty.com. Retrieved 2016-02-11.
  2. ↑ "Acadia Realty Trust". Retrieved Jul 3, 2013.
  3. ↑ "City Point | Premier Retail". citypointbrooklyn.com. Retrieved 2016-02-11.
  4. ↑ "Westchester Italian Restaurant Fortina Joins City Point Market in Brooklyn". Eater NY. Retrieved 2016-02-11.
  5. ↑ "10 most anticipated Brooklyn restaurant openings, 2016". Brooklyn Based. Retrieved 2016-02-11.
  6. ↑ Bockmann, Rich. "The top 10 biggest Brooklyn retail leases of 2015". The Real Deal New York. Retrieved 2016-02-11.
  7. ↑ Weiss, Lois. "Third Avenue has become gym-rat central". New York Post. Retrieved 2016-02-11.
  8. ↑ "Michael Kors, Victoria’s Secret, National Retailers To Open Shops On Savannah's Broughton Street". Fashion Times. 2015-10-27. Retrieved 2016-02-11.
  9. ↑ "Acquisitions - Acadia Realty Trust". www.acadiarealty.com. Retrieved 2016-02-11.
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