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12

Acadia Realty Trust Closes Fund with Mega-Buying Power

By Tony Seruga

The firm’s fifth institutional retail fund closed with $520 million in commitments.

Kenneth Bernstein, Acadia

New York—Acadia Realty Trust has just announced the final closing of its Acadia Strategic Opportunity Fund V LLC institutional fund, with commitments totaling $520 million—a sum that translates to $1.5 billion for investment in opportunistic and value-add retail assets.

Fund V is following Acadia’s tried-and-true investment strategy of focusing on well-located street retail, next-generation street retail and distressed-retailer real estate. The equity REIT now has “new dry powder available to invest in compelling risk-reward opportunities over the next few years,” Kenneth Bernstein, president & CEO of Acadia, said in a prepared statement…

Acadia Realty Trust Closes Fund with Mega-Buying Power

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