ACADIA REALTY TRUST — Director's Dealing 2017

May 4, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2017-05-04

Reporting Person: BERNSTEIN KENNETH F (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-04	Common Shares of Beneficial Interest - $.001 Par Value	P	702	$28.5032	Acquired	341063	Direct

Footnotes

F1: These shares were purchased in 2 separate transactions at a weighted average purchase price of $28.5032. The actual price at which these shares were purchased range from $28.41 to $28.60 per share. Mr. Bernstein 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 purchased at each separate price.

F2: This number represents the total number of Common Shares (all vested) held by Mr. Bernstein at this time.