Acadia Realty Trust to Participate in REITWorld 2012 Annual Convention November 13 – 15, 2012; Also Provides Update on

  Acadia Realty Trust to Participate in REITWorld 2012 Annual Convention
  November 13 – 15, 2012; Also Provides Update on Portfolio Activity

Business Wire

WHITE PLAINS, N.Y. -- November 12, 2012

Acadia Realty Trust (NYSE: AKR) announced today that it will be attending
REITWorld 2012: NAREIT’s Annual Convention for All Things REIT scheduled
November 13-15, 2012 in San Diego, California. Kenneth F. Bernstein, President
and Chief Executive Officer, and Jonathan Grisham, Senior Vice President and
Chief Financial Officer, will be participating in the conference, which will
include individual meetings with investors. Company information to be
presented in these meetings will be posted to the Company’s website at
www.acadiarealty.com under Investor Relations – Presentations - REITWorld
2012.

Acadia also provided an update on current activities within its Core and
Opportunity Fund portfolios:

Core Portfolio

As previously announced, Acadia has entered into five contracts to purchase
street retail locations in Chicago, Washington, D.C. and Westport, Connecticut
for an aggregate purchase price of approximately $175 million. Additional
details for three of these are as follows:

  *Lincoln Park, Chicago – Located in the popular Diversey retail corridor,
    the property is situated on the corner of Clark Street and West Diversey
    Parkway between Acadia’s two other existing West Diversey properties. The
    acquisition will provide Acadia with contiguous ownership of the south
    side of West Diversey for two blocks spanning across Clark Street.
  *Westport, Connecticut – The collection of three properties is primarily
    located on Main Street, the main retail corridor of this affluent
    Connecticut suburb, with retail tenants that include TD Bank.
  *Previously, the Company had announced that it had entered into contracts
    to purchase a 19-property portfolio with locations throughout Chicago’s
    high-barrier-to-entry street-retail corridors, including Clark/Diversey
    and Armitage/Halsted in the Lincoln Park neighborhood and Rush/Walton in
    the Gold Coast neighborhood. To date, the Company has closed on ten of
    these properties and currently expects to complete this transaction with
    the acquisition of eight of the original nine remaining properties.

Opportunity Fund Portfolio

During November 2012, Acadia Strategic Opportunity Fund II, LLC (“Fund II”)
entered into a contract to sell the Canarsie Plaza for $124 million. As part
of the redevelopment of this property, Acadia had acquired a vacant warehouse
building situated on 15 acres in Canarsie (Brooklyn), New York and constructed
a 274,000 square foot center anchored by a 173,000 square foot BJ’s Wholesale
Club. The property was 96% leased as of September 30, 2012.

The Company currently expects to complete these transactions prior to December
31, 2012. The closings of these transactions currently under contract are
subject to customary closing conditions and, in certain instances, lender’s
approval for the assumption of first mortgage debt. As such, no assurance can
be given that the Company will successfully complete these transactions.

About Acadia Realty Trust

Acadia Realty Trust, a fully-integrated equity real estate investment trust,
is focused on the acquisition, ownership, management and redevelopment of
high-quality retail properties and urban/infill mixed-use properties with a
strong retail component located primarily in high-barrier-to-entry,
densely-populated metropolitan areas along the East Coast and in Chicago.
Acadia owns, or has an ownership interest in, these properties through its
core portfolio and its opportunistic/value-add investment funds. Additional
information may be found on the Company’s website at www.acadiarealty.com.

Certain matters in this press release may constitute forward-looking
statements within the meaning of federal securities law and as such may
involve known and unknown risks, uncertainties and other factors that may
cause the actual results, performances or achievements of Acadia to be
materially different from any future results, performances or achievements
expressed or implied by such forward-looking statements. These forward-looking
statements include statements regarding Acadia’s future financial results and
its ability to capitalize on potential opportunities arising from continued
economic uncertainty. Factors that could cause the Company’s forward-looking
statements to differ from its future results include, but are not limited to,
those discussed under the headings “Risk Factors” and “Management's Discussion
and Analysis of Financial Condition and Results of Operations” in the
Company’s most recent annual report on Form 10-K filed with the SEC on
February 28, 2012 (“Form 10-K”) and other periodic reports filed with the SEC,
including risks related to: (i) the current global financial environment and
its effect on retail tenants; (ii) the Company’s reliance on revenues derived
from major tenants; (iii) the Company’s limited control over joint venture
investments; (iv) the Company’s partnership structure; (v) real estate and the
geographic concentration of our properties; (vi) market interest rates; (vii)
leverage; (viii) liability for environmental matters; (ix) the Company’s
growth strategy; (x) the Company’s status as a REIT; (xi) uninsured losses and
(xii) the loss of key executives. Copies of the Form 10-K and the other
periodic reports Acadia files with the SEC are available on the Company’s
website at www.acadiarealty.com. Any forward-looking statements in this press
release speak only as of the date hereof. Acadia expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in Acadia's
expectations with regard thereto or change in events, conditions or
circumstances on which any such statement is based.

Contact:

Acadia Realty Trust
Jon Grisham, 914-288-8100