<SEC-DOCUMENT>0001144204-16-106108.txt : 20160601
<SEC-HEADER>0001144204-16-106108.hdr.sgml : 20160601
<ACCEPTANCE-DATETIME>20160601085914
ACCESSION NUMBER:		0001144204-16-106108
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160531
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160601
DATE AS OF CHANGE:		20160601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGREE REALTY CORP
		CENTRAL INDEX KEY:			0000917251
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				383148187
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12928
		FILM NUMBER:		161688019

	BUSINESS ADDRESS:	
		STREET 1:		70 E. LONG LAKE ROAD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48034
		BUSINESS PHONE:		8107374190

	MAIL ADDRESS:	
		STREET 1:		70 E. LONG LAKE ROAD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48034
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v441449_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">______________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event reported):
May 31, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>AGREE
REALTY CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Maryland</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State of other jurisdiction of incorporation)&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1-12928</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission file number)<BR>
        </P></TD>
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>38-3148187</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 0; padding-left: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>70 E. Long Lake Road</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bloomfield Hills, MI</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt; text-align: center"><BR>
<FONT STYLE="font-size: 10pt"><B>48304</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(Zip code)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code) <B>(248) 737-4190</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
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    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%"><B>Item 2.01.</B></TD>
    <TD STYLE="width: 93%"><B>Completion of Acquisition or Disposition of Assets.</B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">On
May 31, 2016, Agree Realty Corporation (the &ldquo;Company&rdquo;), through its subsidiary, AGREE DEVELOPMENT, LLC, a Delaware
limited liability company (&ldquo;ADC&rdquo;), completed the acquisition of 11 retail properties net leased to 11 tenants located
in California, Florida, Texas, Colorado and Washington (collectively, the &ldquo;Portfolio&rdquo;) from ALBERTSONS COMPANIES, LLC;
SAFEWAY INC.,</FONT> <FONT STYLE="font-size: 10pt">a Delaware corporation; NEW ALBERTSON&rsquo;S INC.,</FONT> <FONT STYLE="font-size: 10pt">an
Ohio corporation; ABS RM INVESTOR, LLC,</FONT> <FONT STYLE="font-size: 10pt">a Delaware limited liability company; ALBERTSON&rsquo;S
LLC,</FONT> <FONT STYLE="font-size: 10pt">a Delaware limited liability company; ABS TX OWNER LP,</FONT> <FONT STYLE="font-size: 10pt">a
Texas limited partnership; ABS FLA INVESTOR LLC,</FONT> <FONT STYLE="font-size: 10pt">a Delaware limited liability company; ABS
CA-O LLC,</FONT> <FONT STYLE="font-size: 10pt">a Delaware limited liability company; and EXTREME LLC,</FONT> <FONT STYLE="font-size: 10pt">a
Delaware limited liability company (collectively, the &ldquo;Sellers&rdquo;) for a total purchase price of $79,500,000.00.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The acquisition was
effected pursuant to the Purchase and Sale Agreement and First Amendment to the Purchase and Sale Agreement, dated as of May 3,
2016 and May 24, 2016, respectively, by and among ADC and Sellers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company's press
release, dated June 1, 2016, announcing the acquisition of the Portfolio, is filed as Exhibit 99.1 to this Current Report on Form
8-K and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%"><B>Item 9.01.</B></TD>
    <TD STYLE="width: 93%"><B>Financial Statements and Exhibits.</B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 5%">(d) </TD>
    <TD STYLE="width: 95%">Exhibits</TD></TR>
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    <TD STYLE="width: 7%"><U>Exhibit</U></TD>
    <TD STYLE="width: 93%"><U>Description</U></TD></TR>
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    <TD STYLE="width: 7%">99.1 </TD>
    <TD STYLE="width: 93%">Press release, dated June 1, 2016, regarding the portfolio acquisition.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0; padding-left: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>AGREE REALTY CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0; padding-left: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Matthew M. Partridge</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 3%">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 6%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 41%"><FONT STYLE="font-size: 10pt">Matthew M. Partridge</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">Executive Vice President, Chief Financial Officer and Secretary </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Date: June 1, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v441449_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html><head><META content="text/html; charset=utf-8"></META></head><body style="font-size:10pt;font-family:Arial;color:black;"><DIV STYLE="width: 100%; margin-left: 10pt; text-align: right"><B>Exhibit
                                         99.1</B></DIV>

<DIV STYLE="width: 100%; margin-left: 10pt">&nbsp;</DIV>

<DIV STYLE="width: 100%; margin-left: 10pt"><p style="text-align:center"><b>Agree Realty Announces $79.5 Million Portfolio Acquisition</b></p>
<br /><br />Over 50% of Net Operating Income from California</div><div style="width:100%;margin-left:10pt;"><div style="margin:0;margin-top:16pt;"><p>BLOOMFIELD HILLS, Mich., June 1, 2016 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the &#34;Company&#34;) announced today that it has closed on the acquisition of a diversified portfolio of 11 high-quality retail net lease properties for a total purchase price of $79.5 million.  </p><p>The portfolio consists of properties net leased to leading national and super-regional retailers, including Orchard Supply Hardware (Lowe&#39;s Companies, Inc.), Hobby Lobby, Smart &amp; Final, Walmart Neighborhood Market, Big Lots and Ross Dress for Less.  Nearly 40% of the portfolio&#39;s net operating income is derived from investment grade tenants operating in e-commerce resistant sectors, including home improvement, grocery, discount apparel,
craft &amp; novelty and specialty retail.  </p><p>Over 50% of the portfolio&#39;s net operating income is attributable to properties near the Los Angeles and San Francisco markets and an additional 30% of the portfolio&#39;s net operating income is derived from properties proximate to the Seattle, Denver, Austin and Orlando markets.  </p><p>The portfolio has a weighted-average remaining lease term of 11.4 years. Over 6% of the portfolio&#39;s net operating income is derived from ground leased assets where the Company is the fee simple owner of the land.  </p><p>With the closing of this portfolio, the state of California is now the Company&#39;s 6<sup>th</sup> largest state by geographic concentration. Additionally, the grocery and home improvement sectors become the Company&#39;s 3<sup>rd </sup>and 9<sup>th</sup> largest sector exposures, respectively, and Lowe&#39;s Companies Inc.
(S&amp;P: A-) is now the Company&#39;s 3<sup>rd</sup> largest tenant. </p><p>&#34;We are extremely pleased to have acquired this unique collection of retail net lease properties in these high barrier-to-entry markets,&#34; said Joey Agree, President and Chief Executive Officer of Agree Realty Corporation. &#34;The opportunity to add significant exposure to the San Francisco and Los Angeles markets, combined with the strength of the tenants and the resiliency of their respective sectors in today&#39;s omni-channel retail environment, made this a rare and compelling investment opportunity.  We continue to focus on retail net lease investments that we believe create compelling risk-adjusted returns through a combination of stable cash flows from leading tenants and strong underlying real estate fundamentals.&#34;</p><p><b>About Agree Realty Corporation</b></p><p>Agree Realty Corporation is
a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants.  The Company currently owns and operates a portfolio of 314 properties, located in 42 states and containing approximately 6.0 million square feet of gross leasable space.  The common stock of Agree Realty Corporation is listed on the New York Stock Exchange under the symbol &#34;ADC&#34;.  For additional information, please visit www.agreerealty.com.    </p>
<br /><br /><p>
</p><p>CONTACT: Matthew M. Partridge, Chief Financial Officer, Agree Realty Corporation, (248) 737-4190</p></div></DIV>

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