New York-based RD Capital Inc. has acquired Columbia, S.C.-based Mark Centers Trust. The resulting UPREIT has been renamed Acadia Realty Trust and is headquartered in New York. Ross Dworman, president and CEO of RD Capital, has been named chairman and CEO of Acadia, while Kenneth F. Bernstein, COO of RD Capital, has been named president. Acadia has 56 properties totaling 11 million sq. ft. and a total market capitalization of $600 million.

Cincinnati-based Madison Marquette has acquired San Francisco-based Farallon Retail Services (FRS), which manages 11 properties in California, Texas and Nevada. Shari Walker, president of FRS, has been named president of the Western Region for Madison Marquette and will maintain ownership interest. Joel Mayer, vice president of FRS, has been named senior vice president in charge of Madison Marquette's Los Angeles office, while Ann Neidlinger, vice president of property services of FRS, has been named vice president of operations for Madison Marquette.