ACADIA REALTY TRUST — Director's Dealing 2013

May 3, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2013-05-01

Reporting Person: BRAUN JOEL L (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-01	Common Shares of Beneficial Interest - $.001 Par Value	S	5844	$28.0308	Disposed	47011	Direct
2013-05-02	Common Shares of Beneficial Interest - $.001 Par Value	S	17156	$28.2606	Disposed	29855	Direct

Footnotes

F1: These shares were sold in 20 separate sales transactions at a weighted average sales price of $28.0308. The actual price at which these shares were sold range from $27.93 to $28.19 per share. Mr. Braun 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.

F2: These shares were sold in 39 separate sales transactions at a weighted average sales price of $28.2606. The actual price at which these shares were sold range from $28.02 to $28.40 per share. Mr. Braun 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.