ACADIA REALTY TRUST — Director's Dealing 2009

Jul 16, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2009-07-15

Reporting Person: LUSCOMBE WENDY W (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-07-15	Common Shares of Beneficial Interest - Equivalent	$	I	34	Acquired		Common Shares of Beneficial Interest (34)	Direct

Footnotes

F1: These shares represent the stock equivalent equal to the value of 2nd quarter dividends which would have been payable had shares been issued pursuant to the Issuer's Deferred Compensation Plan.

F2: Additionaly, Ms. Luscombe owns 9,000 Options which were previously awarded to her.