search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealSL Green, Vornado kick in $100M to extend 280 Park loanSL Green, Vornado kick in $100M to extend 280 Park loanMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan
New York

Acadia sells Fordham Place to Illinois REIT for $134M

Jeff Dunne and Fordham Place at 400 East Fordham Road in the Bronx
Jeff Dunne and Fordham Place at 400 East Fordham Road in the Bronx

Illinois-based real estate investment trust Retail Properties of America acquired the 262,000-square-foot Fordham Place in the Bronx from an affiliate of City Point developer Acadia Realty Trust for $133.9 million.

Fordham Place opened at 400 East Fordham Road in 2009 as the first mixed-use new development in the borough in more than 15 years. It is fully leased with tenants that include Best Buy, Sears and Walgreens.

Sign Up for the undefined Newsletter

CBRE Group brokers Jeff Dunne and David Gavin represented Acadia Strategic Opportunity Fund II in the deal, the New York Observer reported. Dunne secured the buyer.

Earlier this month, Retail Properties of America picked up Pelham Manor Shopping Plaza from Acadia for $58.5 million, the Observer said. [NYO] — Mark Maurer

Tags
Acadia Realty TrustCBRECity PointThe Bronx