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Acadia Realty Trust to acquire 5 Los Angeles store fronts for $48M


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Acadia Realty Trust to acquire 5 Los Angeles store fronts for $48M

Acadia Realty Trust, in reporting its latest results, detailed its recent property transactions, including its $25.1 million acquisition of the 47 Greene St. retail property in New York City in an off-market transaction.

In September, the company bought 849 and 912 W. Armitage Ave. in Chicago for $7.8 million.

The real estate investment trust noted that it agreed to acquire five contiguous storefronts on Melrose Place in Los Angeles for $47.7 million.

In September, Fund IV sold the three-story, 32,000-square-foot building at 938 W. N. Ave. in Chicago for $32.0 million. In July, the fund sold JFK Plaza in Waterville, Maine, for $7.8 million.

In August, Fund III sold the 70,000-square-foot Nostrand Avenue in Brooklyn, N.Y., for $27.7 million.