WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Oct. 31, 2012--
Acadia Realty Trust (NYSE: AKR) today reported that, based on
preliminary property inspections, it has not experienced any significant
damage at its properties located in those regions impacted by the storm.
Continuing inspection and assessment is ongoing in order to confirm the
condition of these properties.
About Acadia Realty Trust
Acadia Realty Trust, a fully-integrated equity real estate investment
trust, is focused on the acquisition, ownership, management and
redevelopment of high-quality retail properties and urban/infill
mixed-use properties with a strong retail component located primarily in
high-barrier-to-entry, densely-populated metropolitan areas along the
East Coast and in Chicago. Acadia owns, or has an ownership interest in,
these properties through its core portfolio and its
opportunistic/value-add investment funds. Additional information may be
found on the Company’s website at www.acadiarealty.com.
Certain matters in this press release may constitute forward-looking
statements within the meaning of federal securities law and as such may
involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performances or achievements of Acadia to
be materially different from any future results, performances or
achievements expressed or implied by such forward-looking statements.
These forward-looking statements include statements regarding Acadia’s
future financial results and its ability to capitalize on potential
opportunities arising from continued economic uncertainty. Factors that
could cause the Company’s forward-looking statements to differ from its
future results include, but are not limited to, those discussed under
the headings “Risk Factors” and “Management's Discussion and Analysis of
Financial Condition and Results of Operations” in the Company’s most
recent annual report on Form 10-K filed with the SEC on February 28,
2012 (“Form 10-K”) and other periodic reports filed with the SEC,
including risks related to: (i) the current global financial environment
and its effect on retail tenants; (ii) the Company’s reliance on
revenues derived from major tenants; (iii) the Company’s limited control
over joint venture investments; (iv) the Company’s partnership
structure; (v) real estate and the geographic concentration of our
properties; (vi) market interest rates; (vii) leverage; (viii) liability
for environmental matters; (ix) the Company’s growth strategy; (x) the
Company’s status as a REIT; (xi) uninsured losses and (xii) the loss of
key executives. Copies of the Form 10-K and the other periodic reports
Acadia files with the SEC are available on the Company’s website at www.acadiarealty.com.
Any forward-looking statements in this press release speak only as of
the date hereof. Acadia expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in
Acadia's expectations with regard thereto or change in events,
conditions or circumstances on which any such statement is based.
Source: Acadia Realty Trust
Acadia Realty Trust
Jon Grisham, (914) 288-8100