Acadia Realty Trust repurchases $18.5 million 3.75% convertible notes

By Devika Patel

Knoxville, Tenn., April 13 - Acadia Realty Trust bought back $18.5 million of its 3.75% convertible notes during January and March, according to an 8-K filed Monday with the Securities and Exchange Commission.

The notes were repurchased at a discount of approximately 25%, resulting in a net gain of $3.1 million.

The company said it may buy back additional convertibles as market conditions permit.

The White Plains, N.Y.-based real estate investment trust is focused on retail properties.

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