Agree Realty Corporation announced on January 6, 2025, a summary of its 2024 investment activity, totaling approximately $951 million across 282 properties. This included $867 million in acquisitions of 242 retail net lease properties at a weighted-average capitalization rate of 7.5% and a 10.4-year weighted-average remaining lease term.
For the fourth quarter of 2024, acquisition volume reached approximately $341 million at a 7.3% weighted-average capitalization rate, with 73.3% of annualized base rents from investment-grade retail tenants. As of December 31, 2024, the company's portfolio generated 68.2% of annualized base rents from investment-grade retailers.
Looking ahead, Agree Realty introduced an investment volume guidance for 2025 ranging from $1.1 billion to $1.3 billion, representing a 26% year-over-year increase at the midpoint. The company reported over $2.0 billion in total liquidity as of December 31, 2024, including $1.1 billion in revolving credit facility availability and over $0.9 billion in outstanding forward equity, with no material debt maturities until 2028.
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