This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Acadia Realty Trust To Participate In REITWorld 2012 Annual Convention November 13 – 15, 2012; Also Provides Update On Portfolio Activity

Acadia Realty Trust (NYSE: AKR) announced today that it will be attending REITWorld 2012: NAREIT’s Annual Convention for All Things REIT scheduled November 13-15, 2012 in San Diego, California. Kenneth F. Bernstein, President and Chief Executive Officer, and Jonathan Grisham, Senior Vice President and Chief Financial Officer, will be participating in the conference, which will include individual meetings with investors. Company information to be presented in these meetings will be posted to the Company’s website at www.acadiarealty.com under Investor Relations – Presentations - REITWorld 2012.

Acadia also provided an update on current activities within its Core and Opportunity Fund portfolios:

Core Portfolio

As previously announced, Acadia has entered into five contracts to purchase street retail locations in Chicago, Washington, D.C. and Westport, Connecticut for an aggregate purchase price of approximately $175 million. Additional details for three of these are as follows:

  • Lincoln Park, Chicago – Located in the popular Diversey retail corridor, the property is situated on the corner of Clark Street and West Diversey Parkway between Acadia’s two other existing West Diversey properties. The acquisition will provide Acadia with contiguous ownership of the south side of West Diversey for two blocks spanning across Clark Street.
  • Westport, Connecticut – The collection of three properties is primarily located on Main Street, the main retail corridor of this affluent Connecticut suburb, with retail tenants that include TD Bank.
  • Previously, the Company had announced that it had entered into contracts to purchase a 19-property portfolio with locations throughout Chicago’s high-barrier-to-entry street-retail corridors, including Clark/Diversey and Armitage/Halsted in the Lincoln Park neighborhood and Rush/Walton in the Gold Coast neighborhood. To date, the Company has closed on ten of these properties and currently expects to complete this transaction with the acquisition of eight of the original nine remaining properties.

Opportunity Fund Portfolio

During November 2012, Acadia Strategic Opportunity Fund II, LLC (“Fund II”) entered into a contract to sell the Canarsie Plaza for $124 million. As part of the redevelopment of this property, Acadia had acquired a vacant warehouse building situated on 15 acres in Canarsie (Brooklyn), New York and constructed a 274,000 square foot center anchored by a 173,000 square foot BJ’s Wholesale Club. The property was 96% leased as of September 30, 2012.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs