Acadia Realty upsizes with $750 million restated credit facility

By Wendy Van Sickle

Columbus, Ohio, April 15 – Acadia Realty Trust closed on a $750 million amended and restated credit facility, which replaces and extends the company’s existing $700 million credit facility, according to a news release.

The facility was oversubscribed and maintained the pricing spread from the prior facility while improving its financial covenant package, the company said.

The restated credit facility matures on April 15, 2028 with two six-month extension options and has an accordion feature expandable to $900 million.

BofA Securities, Inc. and Wells Fargo Securities, LLC served as joint bookrunners. BofA Securities, Inc., Wells Fargo Securities, LLC, Truist Securities, Inc. and PNC Capital Markets LLC served as joint lead arrangers. Wells Fargo Bank, NA, Truist Bank and PNC Bank, NA served as syndication agents. Bank of America, NA is administrative agent.

Acadia Realty Trust is a Maryland real estate investment trust.

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