Agree Realty Corporation (ADC) 2012年年度报告「NYSE」.pdf

1、 Dear Fellow Shareholders,We are pleased at this time to report the results of our 2012 activities including a review of our expanding portfolio and our strong operating results.This past year,we endeavored to accomplish a number of strategic objectives.These objectives focused simultaneously on exp

2、anding and improving our real estate portfolio and growing earnings,while preserving our historically robust and conservative balance sheet.Please allow us a few moments to review the Companys progress towards these initiatives during 2012.Portfolio Growth via Acquisition and Development of Industry

3、 Leading Retailers:The Company had a record year in 2012 with the addition of 27 properties to our portfolio.Our asset base continues to grow rapidly through both the acquisition and development of single tenant properties net leased to industry leading retailers.During the course of the year and ne

4、t of disposition activity,the Company expanded its portfolio from 87 properties to 109 properties.We acquired 25 assets for approximately$81.5 million.Since the inception of our acquisition program in the second quarter of 2010,the Company has acquired 44 single tenant properties for an aggregate pu

5、rchase price of$157 million.These assets are located in 22 states and represent 15 different retail sectors.As our Acquisition Team continues to source accretive acquisitions,our Development Team has originated and executed on a number of high-quality projects for best-in-class retailers.During the

6、year we completed three developments and announced the commencement of five new and exciting opportunities.Completions in 2012 included the Companys initial McDonalds restaurant in Southfield,Michigan and our first Chase bank branch in the state of Florida.This past year,we announced the commencemen