ACADIA REALTY TRUST — Director's Dealing 2009

Feb 2, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2009-01-30

Reporting Person: HOGAN JOSEPH W (Sr. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-01-30	Common Shares of Beneficial Interest - $.001 Par Value	P	1757	$12.58	Acquired	43451	Direct

Footnotes

F1: This is a special dividend, payable in stock, associated with taxable gains arising from the Company's property dispositions in 2008.

F2: This number represents 30,533 vested Shares and 12,918 unvested, Restricted Shares.