ACADIA REALTY TRUST AND SUBSIDIARIES UNAUDITED PRO FORMA FINANCIAL INFORMATIONAcadia Realty Trust • November 12th, 2013 • Real estate investment trusts
As previously announced, during September 2013, subsidiaries of Acadia Strategic Opportunity Fund II, LLC ("Fund II"), which in turn is a subsidiary of Acadia Realty Trust (the "Company"), entered into a purchase and sale agreement (the "Agreement") to sell Pelham Manor Shopping Plaza and Fordham Place (the "Properties") for an aggregate sales price of $192.4 million to an unaffiliated entity. On November 6, 2013, Fund II completed the sale of one of the Properties, Pelham Manor Shopping Plaza, for a sales price of $58.5 million. The sale of Fordham Place is expected to be completed within the next 60 days, although the sale remains subject to customary closing conditions and, accordingly, no assurance can be given as to the timing or successful completion of the sale of this property.
AGREEMENT OF PURCHASE AND SALE between ACADIA PELHAM MANOR LLC, a Delaware Limited Liability Company, ACADIA EAST FORDHAM ACQUISITIONS LLC, a Delaware Limited Liability Company, and FORDHAM PLACE OFFICE LLC, a Delaware Limited Liability Company...Agreement of Purchase and Sale • November 12th, 2013 • Acadia Realty Trust • Real estate investment trusts • New York
THIS AGREEMENT OF PURCHASE AND SALE (this “Agreement”) is made and entered into this 24th day of September, 2013 (the “Effective Date”), by and among ACADIA PELHAM MANOR LLC, formerly known as P/A Acadia Pelham Manor LLC, a Delaware limited liability company, (“Pelham Seller”) ACADIA EAST FORDHAM ACQUISITIONS LLC, formerly known as Acadia-PA East Fordham Acquisitions, LLC, a Delaware limited liability company, (“Fordham Retail Seller”) and FORDHAM PLACE OFFICE LLC, a Delaware limited liability company (“Fordham Office Seller”) (Pelham Seller, Fordham Retail Seller and Fordham Office Seller, collectively, the “Seller”) having an office at c/o Acadia Realty Trust, 1311 Mamaroneck Avenue, Suite 260, White Plains, New York 10605, and RPAI ACQUISITIONS, INC., an Illinois corporation (“Purchaser”) having an office at c/o Retail Properties of America, Inc., 2021 Spring Road, Suite 200, Oak Brook, Illinois 60523.
