Acadia Strategic Opportunity Fund IV Acquires Property In Fairview Heights For $35.4 Million

Acadia Strategic Opportunity Fund IV has acquired Lincoln Place, a shopping center located at 6109 N Illinois St, Fairview Heights, IL. The transaction was valued at $35,400,000.00 for the property which encompasses 272,060 square feet within the Fairview Heights market.

Summary of transaction details:

• Property Type: Shopping Center
• Transaction Amount: $35,400,000.00
• Address: 6109 N Illinois St, Fairview Heights, IL
• Market: Fairview Heights
• Buyer: Acadia Strategic Opportunity Fund IV
• Seller: Spirit Realty Capital
• Seller's Representatives: Amy Sands-JLL, Clinton Mitchell-JLL
• Loan Secured: $23.1 million acquisition loan
• Loan Term: Five-year loan

The deal involved representative work by Amy Sands and Clinton Mitchell from JLL for the seller. Timothy Joyce of HFF facilitated the acquisition loan for Acadia Strategic Opportunity Fund IV, which is managed by Acadia Realty Trust. Lincoln Place has a variety of national tenants and was developed in 1999 with renovations completed in 2005.