ACADIA REALTY TRUST — Director's Dealing 2015

May 26, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2015-05-22

Reporting Person: Conlon Christopher (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-22	Common Shares of Beneficial Interest - $.001 Par Value	S	5000	$31.30	Disposed	5000	Direct

Footnotes

F1: These shares were sold in 9 separate sales transactions at a weighted average sales price of $31.30. The actual price at which these shares were sold range from $31.29 to $31.32 per share. Mr. Conlon 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: This number represents the total number of Shares (all vested, unrestricted) now held by Mr. Conlon.