Exhibit 99.1

ACADIA REALTY TRUST REPORTS SECOND QUARTER 2018 OPERATING RESULTS

RYE, NY (July 24, 2018) - Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) today reported operating results for the quarter ended June 30, 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 second quarter; FFO per share was $0.34 for the second quarter including approximately $0.01 from fund transactional activity
Core Portfolio Operating Results: Solid Core operating fundamentals
Achieved over 75% of our 2018 leasing goals to date based on NOI, representing approximately $6.0 million of annualized NOI
Rent growth of 8.7% on new and renewal leases for the quarter on a cash basis
Reported 95.3% leased occupancy as of June 30, 2018
Higher than anticipated same-property net operating income growth of 0.8% for the second quarter (excluding redevelopment)
Fund Acquisition Activity: During July, Fund V completed a $59.3 million acquisition
Fund Disposition Activity: As previously reported, Fund II completed a $26.0 million disposition during the second quarter; Fund IV also has $8.1 million of dispositions under contract
Balance Sheet: The Company repurchased an additional $23.1 million of its shares during the three months ended June 30, 2018. Aggregate purchases were $55.1 million for the six months ended June 30, 2018 at an average cost of approximately $24 per share on a leverage-neutral basis. As a result of the Company's successful capital recycling efforts to date, Core net debt decreased by $19.9 million during 2018
Guidance: Following its continued 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 second-quarter operating results exceeded our expectations but, more importantly, we continued to put the key drivers of our long-term growth plan into place,” stated Kenneth F. Bernstein, President and CEO of Acadia Realty Trust. “First, with respect to our core portfolio, year-to-date, we have made significant progress on both our 2018 lease-up goals and our two key redevelopments. In the fund platform, we continued to execute on all aspects of our buy-fix-sell mandate and saw further opportunity in our contrarian purchase of shopping centers in non-prime markets at higher yields. Looking ahead, we believe that our significant dry powder, both on balance sheet and in our fund platform, keeps us well positioned as retailing and retail real estate continue to evolve.”

1

The following information was filed by Acadia Realty Trust (AKR) on Friday, July 27, 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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