Acadia Realty fund exceeds $500m target
Acadia Realty Trust has successfully raised $520 million in commitments for Acadia Strategic Opportunity Fund V, exceeding its $500 million target.
This is the fifth in a series of institutional funds dedicated to making opportunistic and value-add investments in U.S. retail real estate. Fund V will continue to implement Acadia’s location-driven investment strategy, targeting street retail, next-generation street retail, distressed-retailer real estate and other opportunistic retail real estate investments.
With leverage, Fund V has approximately $1.5 billion of buying power.
Of the $520 million of total commitments, $104.5 million was committed by Acadia, and $415.5 million was committed by a diverse group of investors, including university endowments, foundations, pension funds, investment management firms and family offices. Approximately 98 percent of the Fund’s third-party commitments came from existing investors in one or more