Acadia Realty Trust Enters Material Definitive Agreement

TL;DR

Acadia Realty Trust just signed a new material definitive agreement, likely involving a financial obligation.

AI Summary

On April 15, 2024, Acadia Realty Trust entered into a material definitive agreement related to a direct financial obligation. The filing does not specify the exact nature of the agreement or any associated dollar amounts, but it indicates a new financial commitment or arrangement for the company.

Why It Matters

This filing signals a new financial commitment or obligation for Acadia Realty Trust, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which inherently carries financial risk that is not yet fully detailed.

Key Players & Entities

• Acadia Realty Trust (company) — Registrant
• April 15, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — hares of beneficial interest, par value $0.001 per share AKR The New York Stock Ex
• $300.0 million — under the Existing Credit Facility from $300.0 million to $350.0 million and the extension of
• $350.0 million — Credit Facility from $300.0 million to $350.0 million and the extension of the term from June
• $60.0 million — letters of credit in an amount of up to $60.0 million. Similar to the Existing Credit Facilit
• $400.0 m — so provides for a term loan facility of $400.0 million, the term for which was extended
• $900 million — ature to increase its capacity to up to $900 million at the option of the Operating Partners

Filing Documents

• tm2411829d1_8k.htm (8-K) — 31KB
• tm2411829d1_ex10-1.htm (EX-10.1) — 1217KB
• 0001104659-24-047435.txt ( ) — 1649KB
• akr-20240415.xsd (EX-101.SCH) — 3KB
• akr-20240415_lab.xml (EX-101.LAB) — 33KB
• akr-20240415_pre.xml (EX-101.PRE) — 22KB
• tm2411829d1_8k_htm.xml (XML) — 4KB

01

Item 1.01. Entry into a Material Definitive Agreement. On April 15, 2024, Acadia Realty Limited Partnership, a Delaware limited partnership (the "Operating Partnership"), and its general partner, Acadia Realty Trust, a Maryland real estate investment trust (the "Company"), entered into a Third Amended and Restated Credit Agreement (the "Third Amended and Restated Credit Facility") with Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, Truist Bank, and PNC Bank, National Association, as syndication agents, BofA Securities, Inc. and Wells Fargo Securities, LLC, as joint bookrunners, and BofA Securities, Inc., Wells Fargo Securities, LLC, Truist Securities, Inc. and PNC Capital Markets LLC, as joint lead arrangers, and the lenders and letter of credit issuers party thereto. The Third Amended and Restated Credit Facility amends and restates the Second Amended and Restated Credit Agreement entered into on June 29, 2021 by and among the Operating Partnership, as borrower, the Company and certain subsidiaries of the Operating Partnership from time to time party thereto, as guarantors, Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, Truist Bank, and PNC Bank, National Association, as syndication agents, BofA Securities, Inc. and Wells Fargo Securities, LLC, as joint bookrunners, and BofA Securities, Inc., Wells Fargo Securities, LLC, Truist Bank and PNC Capital Markets LLC, as joint lead arrangers, and the lenders party thereto (as amended, the "Existing Credit Facility"). The Third Amended and Restated Credit Facility provides for an increase in the revolving credit facility under the Existing Credit Facility from $300.0 million to $350.0 million and the extension of the term from June 29, 2025 to April 15, 2028 (with two additional six-month extension options), which includes the capacity to issue letters of credit in an amount of up to $60.0 million. Similar to the Existing Credit Facility,

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant . The information set forth under Item 1.01 of this Current Report on Form 8-K is hereby incorporated in this Item 2.03 by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Third Amended and Restated Credit Agreement (the "Third Amended and Restated Credit Facility") with Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, Truist Bank, and PNC Bank, National Association, as syndication agents, BofA Securities, Inc. and Wells Fargo Securities, LLC, as joint bookrunners, and BofA Securities, Inc., Wells Fargo Securities, LLC, Truist Securities, Inc. and PNC Capital Markets LLC, as joint lead arrangers, and the lenders and letter of credit issuers party thereto. 104 Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101.)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ACADIA REALTY TRUST Dated: (Registrant) April 16, 2024 By: /s/ John Gottfried Name: John Gottfried Title: Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR