Acadia Realty Trust.(Brief Article)

Real Estate Weekly | April 12, 2000 | Copyright

Acadia Realty Trust announced that it as closed a $59 million secured financing line with the Dime Savings Bank of New York, FSB Approximately $30 million of the line was used to pay off the balance of a maturing $53 million, seven property financing with John Hancock Life urance Company.

The new financing, which is secured by five of the seven properties, is a floating rate loan at LIBOR plus 175 basis points, currently 117 basis points below the former financing rate of 9.1 percent. It is for a term of five years and is pre-payable after 18 months without cost or ...

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