Acadia Realty Trust (NYSE: AKR - "Acadia" or the "Company") today announced that the public offering price for the 3,000,000 shares of beneficial interest of the Company (“Shares”) previously sold to Barclays, the sole underwriter of the offering, is $25.20 per share, for total gross proceeds (before deducting the underwriter’s compensation and other estimated offering expenses) of approximately $75.6 million. Barclays served as sole underwriter for the offering. The Company has also granted the underwriter an option to purchase up to 450,000 additional Shares. The offering was made pursuant to the Company's effective shelf registration statement and settlement is expected to occur on or about October 31, 2012.
The Company intends to use the net proceeds from the sale of the Shares primarily for future acquisitions as well as general corporate purposes.
Barclays is acting as the sole underwriter for the offering. A copy of the prospectus supplement and prospectus relating to these securities may be obtained, when available, by contacting Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone 1-888-603-5847 or by emailing Barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.About Acadia Realty Trust Acadia Realty Trust, a fully-integrated equity real estate investment trust, is focused primarily on the ownership, acquisition, redevelopment and management of high-quality retail properties and urban/infill mixed-use properties with a strong retail component located primarily in high-barrier-to-entry, supply constrained, densely-populated metropolitan areas in the United States along the East Coast and in Chicago. Acadia owns, or has an ownership interest in, these properties through its core portfolio and its opportunistic/value-add investment funds.