ACADIA REALTY TRUST — Director's Dealing 2013

May 24, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2013-05-24

Reporting Person: KELLAR LORRENCE T (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-24	Common Shares of Beneficial Interest - $.001 Par Value	S	10000	$27.2142	Disposed	41253	Direct

Footnotes

F1: This number represents 33,317 vested Shares and 7,936 unvested, restricted Shares.

F2: These shares were sold in 30 separate sales transactions at a weighted average sales price of $27.2142. The actual price at which these shares were sold range from $27.14 to $27.43 per share. Mr. Kellar will provide, upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full, detailed information regarding the number of shares sold at each separate price.