Acadia Realty Trust Announces Offering of 2.25 Million Shares

Acadia Realty Trust (NYSE: AKR), announced today that it will issue and sell 2,250,000 shares of beneficial interest of the Company in an underwritten public offering. Barclays Capital is acting as sole book running manager for the offering. The Company intends to use the net proceeds from the sale of the shares for general corporate purposes, which may include, among other things, repayment or repurchase of our debt, future acquisitions, directly and through our opportunity funds, and redevelopments of and capital improvements to our properties. The Company will grant the underwriter a 30-day option to purchase up to an additional 337,500 Common Shares.