UPDATE: Acadia Realty Trust Announces Sale of 3.4M Common Shares

Acadia Realty Trust

today announced that it expects to receive approximately $101.2 million in estimated gross proceeds from its sale of 3,400,000 common shares of beneficial interest (“Shares”) to BofA Merrill Lynch and Barclays (or approximately $116.3 million if the option to purchase additional Shares is exercised in full). BofA Merrill Lynch and Barclays acted as joint bookrunners for the offering. The Company has also granted the underwriters an option to purchase up to 510,000 additional Shares. The offering was made pursuant to the Company's effective shelf registration statement and settlement is expected to occur on or about November 4, 2014. The Company intends to use the net proceeds from the sale of the Shares primarily for future acquisitions, as well as general corporate purposes. BofA Merrill Lynch and Barclays acted as the joint bookrunners for the offering. A copy of the prospectus supplement and prospectus relating to these securities may be obtained, when available, by contacting BofA Merrill Lynch, 222 Broadway, New York, NY 10038, attention: Prospectus Department, or e-mail dg.prospectus_requests@baml.com; or Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone 1-888-603-5847, or by e-mail Barclaysprospectus@broadridge.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.