Acadia Realty Trust Announces an Expanded $700 Million Senior Unsecured Revolving Credit Facility and Term Loan Facility
Acadia Realty Trust (NYSE: AKR) has secured a $700 million amended and restated credit facility, superseding its prior $600 million facility. This new arrangement increases its revolving credit from $250 million to $300 million and term loan from $350 million to $400 million. The facility is also oversubscribed and features an accordion option expandable to $900 million, maturing on June 29, 2026. CFO John Gottfried highlighted the added financial flexibility and capital access for investment opportunities, reflecting strong support from capital providers.
- Increased revolving credit facility from $250 million to $300 million.
- Expanded term loan facility from $350 million to $400 million.
- Amended facility is oversubscribed, indicating strong lender support.
- Accordion feature allows for extension up to $900 million.
- None.
Acadia Realty Trust (NYSE: AKR) (the “Company”) announced today that it closed on a
The amended and restated credit facility has an accordion feature expandable to
"The successful closing of this facility further enhances our financial flexibility and provides us with additional capital to pursue investment opportunities. It also highlights the strong support of our capital providers," stated John Gottfried, Chief Financial Officer of Acadia Realty Trust. "The expansion of the facility along with its extended term demonstrates our access to capital and balance sheet strength."
BofA Securities, Inc. and Wells Fargo Securities, LLC served as joint bookrunners, BofA Securities, Inc., Wells Fargo Securities, LLC, Truist Securities, Inc. and PNC Capital Markets LLC served as joint lead arrangers, Wells Fargo Bank, National Association, Truist Bank and PNC Bank, National Association served as syndication agents, and Bank of America, N.A. serves as administrative agent.
About Acadia Realty Trust
Acadia Realty Trust is an equity real 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 best-in-class core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet. For further information, please visit www.acadiarealty.com.
The Company uses, and intends to use, the Investors page of its website, which can be found at www.acadiarealty.com, as a means 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 information. Accordingly, investors should monitor the Investors page, in addition to following 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 part of, this document.
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FAQ
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