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

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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