WHITE PLAINS, NY-Officials with Acadia Realty Trust report the formation of its second discretionary acquisition fund. The Acadia Strategic Opportunity Fund II LLC, has $300 million of committed discretionary capital that Acadia officials say can be leveraged to acquire up to $900 million of real estate.

Company officials say all of the current investors in Acadia’s existing acquisition fund, along with two additional undisclosed institutional investors, will invest a total of $240 million of equity in Fund II. Acadia will invest $60 million in the new fund. Acadia will earn a pro rata return on its invested equity in Fund II as well as fees for asset management, property management, leasing and construction services.

Acadia Strategic Opportunity Fund I totals $90 million in equity investment. To date, $70 million has been invested or committed to redevelopment of currently owned assets, Acadia officials say.

“Fund II is of a size and structure that enables us to continue to invest opportunistically while still maintaining our investment discipline,” says Acadia president and CEO Kenneth F. Bernstein. “Most importantly, with non-dilutive discretionary equity commitments, Fund II allows us to accretively fuel our future growth independently of the increasingly volatile public markets.”

Acadia Realty vice president Jon Grisham says Fund II will consider single property purchases or portfolio acquisitions. In May, Acadia announced its Fund I acquired interest in three shopping centers in a deal valued at $8.4 million. The fund purchased an interest in the 165,000-sf Haygood Shopping Center in Virginia Beach, Va., the Sterling Heights Shopping Center, a 141,000-sf property in Sterling Heights, MI and the 35,000-sf Tarrytown Centre, in Tarrytown, NY.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.