Acadia Realty Trust Reports First Quarter 2007 Operating Results.

Business Wire › April 26, 2007

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Acadia Realty Trust Reports First Quarter 2007 Operating Results.

NEW YORK -- Acadia Realty Trust (NYSE: AKR - "Acadia" or the "Company"), a real estate investment trust ("REIT"), today reported operating results for the quarter ended March 31, 2007. All per share amounts discussed below are on a fully diluted basis.

First Quarter 2007 Highlights

Earnings - 2007 first quarter FFO up 29% and EPS up 54%

* Funds from operations ("FFO") per share of $0.36 for the first quarter 2007 compared to $0.28 for first quarter 2006

* Earnings per share ("EPS") for 2007 of $0.20 compared to $0.13 for 2006

Core Portfolio - Continued asset recycling

* Completed acquisitions in both Manhattan and Staten Island, New York in connection with core portfolio asset recycling program

New York Urban/Infill Redevelopment Initiative - Addition to pipeline under contract

* Entered into agreement ...

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