Exhibit 99.1


RYE, NY (April 24, 2017) - Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) today reported operating results for the quarter ended March 31, 2017. All per share amounts, below, are on a fully-diluted basis.

Acadia operates dual platforms, comprised of a high-quality core real estate portfolio (“Core Portfolio”), which owns and operates meaningful concentrations of assets in the nation’s most dynamic urban and street-retail corridors, and a series of discretionary, institutional funds (“Funds”) that target opportunistic and value-add investments.

Please refer to the tables and notes accompanying this press release for further details on operating results and additional disclosures related to FFO and net income.


Earnings: Generated earnings per share of $0.18 for the first quarter; funds from operations (“FFO”) per share of $0.40 for the first quarter
Core Portfolio Operating Results: Generated same-property net operating income growth of 0.4% for the first quarter; reported a leased rate of 95.7% as of quarter end
Fund Acquisitions: Fund IV acquired a $35 million opportunistic investment during the first quarter
Fund Dispositions: Completed $48 million of fund dispositions during the first quarter
Fund Promote: During 2017, generated approximately $0.6 million (approximately $0.01 per share) of net promote income for the Company from a Fund III asset sale
Balance Sheet: Maintained conservative leverage levels during 2017, as indicated by a net debt to EBITDA ratio of 4.4x and a fixed-charge coverage ratio of 4.8x, both for the Core Portfolio; Acadia did not issue any equity during the first quarter

“Despite the cyclical challenges and long-term secular shifts impacting the retailing industry, our company remains well positioned, as indicated by our solid first quarter results,” stated Kenneth F. Bernstein, President and CEO of Acadia Realty Trust. “First, our high-quality core portfolio contains several in-process value-creation opportunities; at the same time, this portfolio’s urban and street-retail focus, in a handful of gateway cities, and its strong tenancies, provide significant downside protection. Additionally, our complementary fund platform remains active on all fronts, with continued, profitable dispositions and plenty of dry powder, enabling us to remain opportunistic in today’s dislocated marketplace.”


Net income attributable to common shareholders for the quarter ended March 31, 2017 was $16 million, or $0.18 per share. Net income attributable to common shareholders for the quarter ended March 31, 2016 was $29 million, or $0.40 per share, which included $15 million, or $0.21 per share, from the gain on Fund III's disposition of Cortlandt Town Center.

FFO for the quarter ended March 31, 2017 was $35 million, or $0.40 per share. This compares to FFO for the quarter ended March 31, 2016 of $31 million, or $0.41 per share, which included $0.06 of net Promote income.

Included in net income attributable to common shareholders and FFO for the quarter ended March 31, 2017 was approximately $2 million or $0.03 per share of incremental income recognized in connection with an anticipated monetization of a notes receivable.


The following information was filed by Acadia Realty Trust (AKR) on Friday, April 28, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Acadia Realty Trust's financial trajectory

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