OREANDA-NEWS. Acadia Realty Trust today announced that the gross proceeds from the sale of 4,200,000 of its common shares of beneficial interest (“Shares”) are expected to be approximately $150.8 million (or approximately $173.4 million if the option to purchase additional Shares described below is exercised in full). The Company has also granted the underwriters an option to purchase up to 630,000 additional Shares. The offering was made pursuant to the Company's effective shelf registration statement and settlement is expected to occur on or about August 12, 2016.

The Company intends to use the net proceeds from the sale of the Shares to fund the purchase price of a retail property located in the Central Loop of Chicago, Illinois, which the Company has entered into a purchase agreement to acquire for $146.9 million, and other general corporate purposes. In the event such acquisition is not consummated, the Company intends to use the net proceeds for general corporate purposes, which may include funding future acquisitions or the repayment of outstanding indebtedness.

Citigroup and BofA Merrill Lynch acted as the underwriters of the offering.

Acadia is an equity real estate investment trust focused on the ownership, acquisition, redevelopment and management of high-quality retail properties located primarily in high-barrier-to-entry, supply-constrained, densely-populated metropolitan areas in the United States. Acadia currently owns, or has an ownership interest in its properties through its investment platforms, which consist of (i) its core portfolio and (ii) opportunity funds, which it manages and co-invests in with unaffiliated investors.

Certain matters in this press release constitute forward-looking statements within the meaning of federal securities law and as such may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performances or achievements of Acadia to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Factors that could cause the Company’s forward-looking statements to differ from its future results include, but are not limited to, those discussed under the headings “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent annual report on Form 10-K filed with the SEC on February 19, 2016 (“Form 10-K”) and other periodic reports filed with the SEC.