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Acadia Realty Trust Announces Agreement to Sell Two Fund II Assets

Thursday, 10 Oct 2013 08:00am EDT 

Acadia Realty Trust announced that it has entered into a contract to sell Pelham Manor Shopping Plaza, located in Pelham Manor, New York, and Fordham Place, located in the Bronx, New York, for a combined gross sale price of $192.4 million. These assets were redeveloped by Acadia Strategic Opportunity Fund II, LLC in connection with its New York Urban/Infill Redevelopment Initiative. This transaction, when completed, will continue the profitable monetization of Acadia`s Fund II. The closing of this transaction, which is anticipated to occur prior to the end of 2013, is subject to customary closing conditions and, as such, no assurance can be given that the Company will successfully complete this transaction. 

Company Quote

-0.05 -0.18%
23 Sep 2014