Agree Realty Obtains $11.4 Million Secured Financing

FARMINGTON HILLS, Mich., Nov. 12 /PRNewswire-FirstCall/ -- Agree Realty
Corporation (NYSE: ADC) today announced the closing of a new $11,400,000
secured financing. The loan is secured by mortgages on three of the Company's
retail properties located in Flint, Michigan. The $11,400,000 total consists
of three non-recourse, self-amortizing notes that mature in July, 2026. Each
note bears interest at a fixed rate of 6.27% for the entire term of the loan.

"The proceeds from this transaction will be applied against the outstanding
balance of our unsecured credit facility," said Joey Agree, President of Agree
Realty Corporation. "This transaction provides the Company additional
flexibility to capitalize on opportunities that avail themselves."

Agree Realty Corporation owns, manages and develops properties which are
primarily single tenant properties leased to major retail tenants and
neighborhood community shopping centers. The Company currently owns and
operates a portfolio of 72 properties, which are located in 16 states and
contain 3.5 million square feet of gross leasable space.

The Company considers portions of the information contained in this release to
be forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. These forward-looking statements represent the Company's
expectations, plans and beliefs concerning future events. Although these
forward-looking statements are based on good faith beliefs, reasonable
assumptions and the Company's best judgment reflecting current information,
certain factors could cause actual results to differ materially from such
forward-looking statements. Such factors are detailed from time to time in
reports filed or furnished by the Company with the Securities and Exchange
Commission. Except as required by law, the Company assumes no obligation to
update these forward-looking statements, even if new information becomes
available in the future.

SOURCE Agree Realty Corporation

Kenneth R. Howe, Chief Financial Officer of Agree Realty Corporation,
+1-248-737-4190