RYE, North.Y.–(BUSINESS WIRE)–Acadia Realty Trust (NYSE: AKR) (“Acadia” or the “Company”) today announced that the Company completed approximately $124 million of Core acquisitions. The Visitor volition also participate and nowadays at the Citi 2022 Global Property CEO Conference, which will be held on March 6-9, 2022 in Hollywood, FL.
Cadre Portfolio Acquisitions
The Company recently completed approximately $124 million of Core acquisitions.
Williamsburg Collection, Brooklyn, New York.
In Feb 2022, the Company completed an investment in a collection of 11 retail storefronts and 23 residential units for approximately $100 million on Bedford Avenue in the Williamsburg neighborhood of Brooklyn, New York. Williamsburg has emerged equally one of the leading retail submarkets in New York Metropolis, fueled by robust tenant expansion and increasing residential density. The nugget is leased to a multifariousness of national and specialty tenants, many of which are pinnacle producing stores in their concatenation. Tenants at the belongings include Sephora, Sweetgreen, Levain Baker and Alo Yoga, and when combined with adjacent retailers including Apple tree, Whole Foods and Equinox, create a natural middle of gravity for the market.
8833 Beverly Boulevard, W Hollywood, California.
In March 2022, the Company, in connection with Osiris Ventures, completed the acquisition of 8833 Beverly Boulevard in the Design District of West Hollywood, California for approximately $24 one thousand thousand expanding its existing footprint in Los Angeles. The property is leased to Luxury Living Group, a leading Italian article of furniture manufacturer in the luxury lifestyle sector with collections for Fendi Casa, Bentley Home, Trussardi Casa, Paul Mathieu, Bugatti Home, Heritage Collection and Ritz Paris Dwelling house Collection. The West Hollywood submarket continues to be desired by blueprint, fashion and restaurant retailers and benefits from high income and supply constrained corridors.
Year to date 2022, the Company has completed approximately $164 million of Core acquisitions.
Citi 2022 Global Property CEO Conference
Acadia will participate in the Citi 2022 Global Property CEO Conference, which volition be held on March half-dozen-ix, 2022 in Hollywood, FL.
Kenneth F. Bernstein, Acadia’due south President and Master Executive Officer, is scheduled to brand a company presentation on Monday, March 7, 2022 at eleven:15 a.thousand. ET.
Acadia will also host individual meetings with investors during the conference. The Company’southward presentation materials will be posted on its website under “Investors – Presentations & Events.”
Acadia Realty Trust Webcast:
Monday, March 7, 2022
11:fifteen a.thousand. – 11:50 a.m. ET
2022 Citi Global Property CEO Briefing
Acadia’s presentation will be bachelor live via audio webcast, which may be accessed at the above link. A replay of the webcast will exist available on the Company’s website through March 7, 2023 under “Investors – Presentations & Events.”
Nigh Acadia Realty Trust
Acadia Realty Trust is an disinterestedness existent estate investment trust focused on delivering long-term, profitable growth via its dual – Core Portfolio and Fund – operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a all-time-in-class cadre existent manor portfolio with meaningful concentrations of assets in the nation’southward near dynamic corridors; making assisting opportunistic and value-add together investments through its series of discretionary, institutional funds; and maintaining a potent rest sheet. For farther data, please visit www.acadiarealty.com.
The Company uses, and intends to use, the Investors folio of its website, which can exist found at world wide web.acadiarealty.com, every bit a ways of disclosing material nonpublic information and of complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic data. Appropriately, investors should monitor the Investors page, in add-on to post-obit the Company’s press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, the website is not incorporated by reference into, and is not a role of, this document.
Prophylactic Harbor Statement
Sure statements in this press release may comprise forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forrad-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations are generally identifiable past the use of words, such every bit “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project,” or the negative thereof, or other variations thereon or comparable terminology. Forrad-looking statements involve known and unknown risks, uncertainties and other factors that could crusade the Company’s actual results and financial performance to be materially different from future results and financial performance expressed or implied past such forward-looking statements, including, but not limited to: (i) the economic, political and social bear upon of, and uncertainty surrounding the COVID-nineteen Pandemic, including its impact on the Company’s tenants and their ability to brand hire and other payments or honor their commitments nether existing leases; (2) macroeconomic conditions, such as a disruption of or lack of access to the capital letter markets; (three) the Company’south success in implementing its business strategy and its power to place, underwrite, finance, complete and integrate diversifying acquisitions and investments; (iv) changes in general economic atmospheric condition or economic conditions in the markets in which the Company may, from time to time, compete, and their result on the Company’s revenues, earnings and funding sources; (5) increases in the Company’s borrowing costs equally a effect of changes in interest rates and other factors, including the discontinuation of the USD London Interbank Offered Rate, which is currently predictable to occur in 2023; (6) the Company’due south ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; (seven) the Visitor’s investments in joint ventures and unconsolidated entities, including its lack of sole decision-making authority and its reliance on its joint venture partners’ financial condition; (viii) the Company’s ability to obtain the financial results expected from its development and redevelopment projects; (ix) the tenants’ ability and willingness to renew their leases with the Company upon expiration, the Company’s ability to re-lease its backdrop on the aforementioned or better terms in the event of nonrenewal or in the event the Visitor exercises its right to replace an existing tenant, and obligations the Company may incur in connexion with the replacement of an existing tenant; (x) the Company’s potential liability for environmental matters; (xi) harm to the Company’due south backdrop from catastrophic weather and other natural events, and the concrete effects of climate change; (xii) uninsured losses; (xiii) the Visitor’s ability and willingness to maintain its qualification equally a REIT in lite of economic, market, legal, tax and other considerations; (xiv) information technology security breaches, including increased cybersecurity risks relating to the use of remote technology during the COVID-xix Pandemic; (xv) the loss of key executives; and (xvi) the accuracy of the Visitor’s methodologies and estimates regarding environmental, social and governance (“ESG”) metrics, goals and targets, tenant willingness and power to collaborate towards reporting ESG metrics and meeting ESG goals and targets, and the impact of governmental regulation on its ESG efforts; and (xvii) the risk that the decision to restate the prior period fiscal statements could negatively affect investor confidence and raise reputational bug.
The factors described above are not exhaustive and boosted factors could adversely affect the Company’due south future results and fiscal performance, including the take a chance factors discussed under the section captioned “Risk Factors” set along under the headings “Item 1A. Run a risk Factors” and “
Item 7. Management’s Give-and-take and Assay of Fiscal Status and Results of Operations” in the Company’s Annual Report on Form 10-M for the yr concluded Dec 31, 2021 and other periodic or current reports the Company files with the SEC. These risks and uncertainties should be considered in evaluating any forward-looking statements contained or incorporated by reference herein. Any forward-looking statements in this press release speak just every bit of the date hereof. The Visitor expressly disclaims any obligation or undertaking to release publicly whatever updates or revisions to any frontwards-looking statements contained herein to reflect whatever changes in the Visitor’southward expectations with regard thereto or changes in the events, atmospheric condition, or circumstances on which such forrad-looking statements are based.