Acadia Strategic Opportunity Fund IV Acquires Lincoln Place Near St. Louis for $35.4 Million

Lincoln Place, located roughly 15 miles outside St. Louis, is home to tenants including Old Navy and Ross. Lincoln Place, located roughly 15 miles outside St. Louis, is home to tenants including Old Navy and Ross.

Fairview Heights, Ill. — Acadia Strategic Opportunity Fund IV has acquired Lincoln Place in Fairview Heights near St. Louis for $35.4 million.

The 272,060-square-foot shopping center is nearly fully leased to tenants including Kohl’s, Ross Dress for Less, Old Navy, Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread Co. and Mattress Firm, in addition to a separately owned Lowe’s, Chili’s and Chick-fil-A. Developed in 1999, the center was renovated in 2005. Amy Sands and Clinton Mitchell of HFF represented the seller, Spirit Realty Capital. Timothy Joyce of HFF secured a $23.1 million acquisition loan for the new owners. A national bank provided the five-year loan. Acadia Realty Trust manages Acadia Strategic Opportunity Fund IV.

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