ACADIA REALTY TRUST (NYSE:AKR) Files An 8-K Regulation FD Disclosure
Item 7.01.
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Regulation FD Disclosure.
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quarter 2016 supplemental information contained in Exhibit 99.2
that was included as part of the Company’s Form 8-K furnished by
the Company on February 21, 2017.
following schedules was incorrect:
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Schedule entitled “Core Portfolio New and Renewal Rent
Spreads” and in particular, within the sections related to “Renewal leases” and “Total new and renewal leases.” Two leases were omitted from the three months ended September 30, 2016 columns, which in turn impacted amounts computed for the year ended December 31, 2016. A corrected schedule depicting the line items that changed is attached as Exhibit 99.1 and incorporated herein by reference. |
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Schedule entitled “Income Statements Pro Rata Adjustments.”
Amounts were incorrectly reported within the “Other income (expense)” and “Promote income from funds, net” line items in the schedule. A corrected schedule depicting the line items that changed is attached as Exhibit 99.2 and incorporated herein by reference. |
99.1 with respect to “Total new and renewal leases” for the year
ended December 31, 2016 was also included in the Company’s Annual
Report on Form 10-K, which was filed on February 24, 2017 and
amended on February 27, 2017, (collectively, “the 2016 Form
10-K”), under the heading Item 7. “Management’s Discussion and
Analysis Non-GAAP Measures Rent Spreads on Core Portfolio New and
Renewal Leases.” See Item 8.01 below.
information included in Exhibits 99.1 and 99.2 attached hereto, is
intended to be furnished solely to this Item 7.01, and is not
deemed to be “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or
incorporated by reference into any filing under the Securities Act
of 1933, as amended (“Securities Act”) or the Exchange Act, or
otherwise subject to the liabilities of Sections 11 and 12 (a) (2)
of the Securities Act.
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Item 8.01.
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Other Events.
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in Item 7.01 above, certain information contained in the following
section of the 2016 Form 10-K was incorrect: Item 7. Management’s
Discussion and Analysis Non-GAAP Measures Rent Spreads on Core
Portfolio New and Renewal Leases.” The corrected portion of Item
7, which does not affect any other information reported in the 2016
Form 10-K, is attached as Exhibit 99.3 and incorporated herein by
reference.
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Item 9.01.
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Financial Statements and Exhibits.
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Exhibit Number
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Description
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99.1
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Core Portfolio New and Renewal Rent Spreads –
Supplemental Report |
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99.2
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Income Statements – Pro Rata Adjustments – Supplemental
Report |
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99.3
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Rent Spreads on Core Portfolio New and Renewal Leases –
Form 10-K |
About ACADIA REALTY TRUST (NYSE:AKR)
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership. The Company’s Core Portfolio consists primarily of street retail and urban assets, as well as suburban properties located in various trade areas. The Company also makes investments in first mortgages, preferred equity and other notes receivable collateralized by real estate. The Company’s Core Portfolio includes approximately 90 operating properties, totaling over 5.6 million square feet of gross leasable area (GLA). The Company’s properties, which primarily consist of street retail and dense suburban shopping centers, are located in approximately 10 states of the United States and the District of Columbia. ACADIA REALTY TRUST (NYSE:AKR) Recent Trading Information
ACADIA REALTY TRUST (NYSE:AKR) closed its last trading session down -0.16 at 29.73 with 523,999 shares trading hands.