Acadia Realty Trust closed on a $700 million amended and restated credit facility, which replaces the Company’s existing $600 million credit facility. The amended and restated credit facility provides for an increase in the Company’s existing revolving credit facility from $250 million to $300 million and an increase in the Company’s existing term loan facility from $350 million to $400 million. The amended and restated credit facility was oversubscribed and supported by all five of its existing lenders along with the addition of four new financial institutions.

The amended and restated credit facility has an accordion feature expandable to $900 million, subject to customary conditions, and, inclusive of extension options, matures on June 29, 2026.

"The successful closing of this facility further enhances our financial flexibility and provides us with additional capital to pursue investment opportunities. It also highlights the strong support of our capital providers," stated John Gottfried, Chief Financial Officer of Acadia Realty Trust. "The expansion of the facility along with its extended term demonstrates our access to capital and balance sheet strength."

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, National Association, Truist Bank and PNC Bank, National Association served as syndication agents, and Bank of America, N.A. serves as administrative agent.