Exhibit 99.1

ACADIA REALTY TRUST REPORTS FIRST QUARTER 2018 OPERATING RESULTS

RYE, NY (May 1, 2018) - Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) today reported operating results for the quarter ended March 31, 2018. All per share amounts 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 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 net income, funds from operations ("FFO") and net operating income ("NOI").
 
Highlights

Earnings: Generated earnings per share of $0.09 for the first quarter; FFO per share was $0.33 for the first quarter
Core Portfolio Operating Results: Solid Core operating fundamentals
To date, achieved 60% of our 2018 leasing goals based on NOI, representing approximately $5 million of annualized NOI
Rent growth of 15.3% on new and renewal leases for the quarter on a cash basis
Reported 95.3% leased occupancy as of March 31, 2018
As projected, same-property net operating income decreased 1.0% for the first quarter (excluding redevelopment), driven by the previously-reported recapture of occupancy during 2017 which impacted period-over-period comparability
Core Structured Finance Investments: As projected, the Company received repayment of a $26 million Core note receivable in the first quarter of 2018
Fund Transactional Activity: Fund V acquired a high-yield investment during the first quarter for $45 million; Fund IV completed $8 million of dispositions during the first quarter
Balance Sheet: As a result of successful capital recycling efforts, the Company repurchased $32 million through March 31, 2018, pursuant to its new share repurchase program on a leverage-neutral basis; As previously reported, the Company extended the maturity of its corporate unsecured facility resulting in reduced borrowing costs and improved flexibility
Guidance: Following its strong leasing efforts and its portfolio performance to date, the Company reaffirms its 2018 guidance of FFO per share of $1.33 to $1.45 and same-property net operating income growth of 1-3%, including 2-7% growth in the second half of the year

“Our first-quarter operating results were consistent with our expectations but, more importantly, we continued to make significant progress on both our immediate leasing goals and our long-term growth plans,” stated Kenneth F. Bernstein, President and CEO of Acadia Realty Trust. “At the beginning of this year, we laid out important leasing goals for our high-quality core portfolio; this leasing, together with two key redevelopments, should drive strong, organic NOI growth over the next several years. In the fund platform, we continue to selectively acquire durable high-yield properties while we watch the disruption in our industry translate into other actionable opportunities. Especially during times like these, it feels good to have significant dry powder, both on balance sheet and in our fund platform, to execute on interesting investment opportunities as they arise.”


1

The following information was filed by Acadia Realty Trust (AKR) on Thursday, May 3, 2018 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.

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