NEW YORK—Cohen & Steers reports that it has invested about$370 million in the real estate investment trust Agree RealtyCorp.

Cohen & Steers said the funds will strengthen the company'spotential to take advantage of possible acquisitionopportunities.

Thomas Bohjalian, head of US Real Estate at Cohen & Steers,described Agree Realty's balance sheet and track record as "verystrong."

"This direct equity placement gives the company additionalequity capital to proactively fund acquisitions that may emerge dueto dislocations in the retail real estate market," he said in astatement

Cohen & Steers, which specializes in liquid real assets,said it's watching for opportunities to give "capital infusions" toreal estate investment trusts, including helping companiescapitalize on acquisitions.

The firm said it's also in a unique spot to support companiesthat need capital because of market disruptions tied to the 2020recession.

The about $370 million investment in Agree Realty was announcedas a devastated US economy continues to reel from the coronaviruscrisis.

"Our deep experience with REITs over multiple real estate cyclesputs us in a unique position to identify opportunities as a resultof the economic effects of the recession," said Joseph Harvey,president of Cohen & Steers, in a statement.

He says they have been focused on companies with "strong balancesheets that are trading at discounted valuations."

Cohen & Steers reported it used a similar plan in 2009,leading an effort that year to recapitalize real estate investmenttrusts.

"By helping these firms raise new equity, we were able tostrengthen their financial positions and demonstrate to the marketthat REITs would withstand the liquidity crisis," said RobertSteers, co-founder and CEO of Cohen & Steers, in astatement.

Agree Realty Corp., a publicly traded real estate investmenttrust, owned and operated more than 860 properties in 46 states asof March 31.