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Acadia Realty Trust Announces $0 15 Per Share Quarterly Dividend
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Acadia Realty Trust (NYSE: AKR) (the “Company”) announced today that it closed on a $700 million amended and restated credit facility, which replaces the Company’s existing $600 million credit facility. The amended and restated credit facility provides for an increase in the Company’s existing revolving credit facility from $250 million to $300 million and an increase in the Company’s existing term loan facility from $350 million to $400 million. The amended and restated credit facility was oversubscribed and supported by all five of its existing lenders along with the addition of four new financial institutions.
The amended and restated credit facility has an accordion feature expandable to $900 million, subject to customary conditions, and, inclusive of extension options, matures on June 29, 2026.
Operator
Good day, everyone, and thank you all for joining us to discuss Equity LifeStyle Properties First Quarter 2021 results. Our featured speakers today are Marguerite Nader, our President and CEO; Paul Seavey, our Executive Vice President and CFO; and Patrick Waite, our Executive Vice President and COO. In advance of today s call, management released earnings. Today s call will consist of opening remarks and a question-and-answer session with management relating to the Company s earnings release. As a reminder, this call is being recorded.
Certain matters discussed during the conference call may contain forward-looking statements in the meaning of the federal securities law. All forward-looking statements are subject to certain economic risks and uncertainty. The Company assumes no obligation to update or supplement any statements that become untrue because of subsequent events.
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