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ACADIA SELLS FORDHAM PLACE IN NYC FOR $133.9M

NEW YORK CITY — Acadia Strategic Opportunity Fund II, a subsidiary of Acadia Realty Trust, has sold Fordham Place, a 262,000-square-foot mixed-use property in the Bronx, for $133.9 million. Retail Properties of America Inc., a publicly traded REIT based in Chicago, purchased the fully leased property. Sears, Best Buy and Walgreens, along with a mix of government service and not-for-profit office tenants occupy the property. Fordham Place was redeveloped in 2009 and is LEED Gold certified. Jeffrey Dunne and David Gavin of CBRE’s New York Institutional Group represented Acadia in the transaction.

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