Acadia Prices Note Offering

Acadia Realty Trust, a real estate investment trust based in White Plains, N.Y., has priced a private offering of $100 million of 3.75% convertible notes due 2026.The equity REIT said the notes will be convertible into cash up to their principal amount and, if the conversion value exceeds that amount, into cash, Acadia common stock, or a combination thereof (at the company's option) at an initial conversion price of $30.86 per share. The initial purchasers have been granted an option to buy up to an additional $15 million of notes, Acadia said.