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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center">Date of Report (Date of Earliest Event
Reported): January 27, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>ACADIA
REALTY TRUST<BR>
</B></FONT><FONT STYLE="font-size: 10pt">(Exact name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">Maryland</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">1-12002</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">23-2715194</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">(State or other</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">(Commission</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">jurisdiction of incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%; text-align: center">Identification No.)</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">1311 Mamaroneck Avenue<BR>
Suite 260<BR>
White Plains, New York 10605<BR>
(Address of principal executive offices) (Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center">(914) 288-8100<BR>
(Registrant's telephone number, including area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center">(Former name or former address, if
changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">  <FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425 )</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">  <FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">  <FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 8.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><U>At the Market (&ldquo;ATM&rdquo;) Sales
Agreement</U>. </B>On January 27, 2012, Acadia Realty Trust (the &ldquo;Registrant&rdquo;) entered into an ATM Equity Offering
Sales Agreement (the &ldquo;Sales Agreement&rdquo;) with each of Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, Barclays
Capital Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, which will act as sales agents (the &ldquo;Sales Agents&rdquo;)
to sell, from time to time, the Registrant&rsquo;s common shares of beneficial interest, par value $0.01 per share (&ldquo;Common
Shares&rdquo;), having an aggregate sale price up to $75,000,000, through an &ldquo;at the market&rdquo; equity offering program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the Sales Agreement, the Common
Shares may be offered and sold through any of the Sales Agents in negotiated transactions or transactions that are deemed to be
&ldquo;at the market&rdquo; offerings as defined in Rule 415 of the Securities Act of 1933, as amended, including sales made by
means of ordinary brokers&rsquo; transactions (including on the New York Stock Exchange), at market prices or as otherwise agreed
to with the Sales Agents.&nbsp;&nbsp;The Sales Agreement provides that each Sales Agent will be entitled to compensation of up
to 2.00% of the gross sales price of the Common Shares sold through such Sales Agent.&nbsp;&nbsp;The Registrant may also sell Common
Shares to a Sales Agent as principal for its own account at a price and discount agreed upon at the time of sale pursuant to a
separate terms agreement.&nbsp;&nbsp;The Registrant has no obligation to sell any of the Common Shares under the Sales Agreement
and may at any time suspend solicitation and offers under the Sales Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Common Shares will be issued pursuant to
the Registrant&rsquo;s shelf registration statement on Form S-3 (File No. 333-157886).&nbsp;&nbsp;The Registrant filed a prospectus
supplement, dated January 27, 2012, with the Securities and Exchange Commission in connection with the offer and sale of the Common
Shares being sold pursuant to this offering program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A copy of the Sales Agreement is attached as
Exhibit 1.1 to this Current Report on Form 8-K and is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><U>Press Release</U></B>. On January 27,
2012, the Registrant issued a press release announcing that it had commenced an &ldquo;at the market&rdquo; equity offering program.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">1.1</TD>
    <TD STYLE="font-size: 10pt">ATM Equity Offering Sales Agreement, dated January 27, 2012, among the Registrant, on the one hand, and each of&nbsp; Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, Barclays Capital Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, on the other hand.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">99.1</TD>
    <TD STYLE="font-size: 10pt">Press Release of the Registrant dated January 27, 2012</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B>ACADIA REALTY TRUST</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">(Registrant)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%; text-indent: 24pt">Date: January 27, 2012</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Jonathan Grisham</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">Name: Jonathan Grisham<BR> Title: Sr. Vice President<BR> and Chief Financial Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 0; padding-left: 0; font-size: 10pt"><U>Exhibit Number&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><U>Description</U></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><BR>
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">1.1</TD>
    <TD STYLE="font-size: 10pt">ATM Equity Offering Sales Agreement, dated January 27, 2012, among the Registrant, on the one hand, and each of&nbsp; Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, Barclays Capital Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, on the other hand.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">99.1</TD>
    <TD STYLE="font-size: 10pt">Press Release of the Registrant dated January 27, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v300657_8k.htm", "description": "8-K", "secsgml_size_bytes": 17544}]
{"company-data": {"conformed-name": "ACADIA REALTY TRUST", "cik": "0000899629", "assigned-sic": "6798", "irs-number": "232715194", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12002", "film-number": "12553045"}, "business-address": {"street1": "1311 MAMARONECK AVENUE", "street2": "SUITE 260", "city": "WHITE PLAINS", "state": "NY", "zip": "10605", "phone": "914-288-8100"}, "mail-address": {"street1": "1311 MAMARONECK AVENUE", "street2": "SUITE 260", "city": "WHITE PLAINS", "state": "NY", "zip": "10605"}, "former-company": {"former-conformed-name": "MARK CENTERS TRUST", "date-changed": "19930329"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event
Reported): January 27, 2012
ACADIA
REALTY TRUST
(Exact name of registrant as specified in its charter)
Maryland
1-12002
23-2715194
(State or other
(Commission
(I.R.S. Employer
jurisdiction of incorporation)
File Number)
Identification No.)
1311 Mamaroneck Avenue
Suite 260
White Plains, New York 10605
(Address of principal executive offices) (Zip Code)
(914) 288-8100
(Registrant's telephone number, including area code)
(Former name or former address, if
changed since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425 )
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01.            Other
Events.
At the Market ("ATM") Sales
Agreement
.
On January 27, 2012, Acadia Realty Trust (the "Registrant") entered into an ATM Equity Offering
Sales Agreement (the "Sales Agreement") with each of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays
Capital Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, which will act as sales agents (the "Sales Agents")
to sell, from time to time, the Registrant's common shares of beneficial interest, par value $0.01 per share ("Common
Shares"), having an aggregate sale price up to $75,000,000, through an "at the market" equity offering program.
Pursuant to the Sales Agreement, the Common
Shares may be offered and sold through any of the Sales Agents in negotiated transactions or transactions that are deemed to be
"at the market" offerings as defined in Rule 415 of the Securities Act of 1933, as amended, including sales made by
means of ordinary brokers' transactions (including on the New York Stock Exchange), at market prices or as otherwise agreed
to with the Sales Agents.  The Sales Agreement provides that each Sales Agent will be entitled to compensation of up
to 2.00% of the gross sales price of the Common Shares sold through such Sales Agent.  The Registrant may also sell Common
Shares to a Sales Agent as principal for its own account at a price and discount agreed upon at the time of sale pursuant to a
separate terms agreement.  The Registrant has no obligation to sell any of the Common Shares under the Sales Agreement
and may at any time suspend solicitation and offers under the Sales Agreement.
The Common Shares will be issued pursuant to
the Registrant's shelf registration statement on Form S-3 (File No. 333-157886).  The Registrant filed a prospectus
supplement, dated January 27, 2012, with the Securities and Exchange Commission in connection with the offer and sale of the Common
Shares being sold pursuant to this offering program.
A copy of the Sales Agreement is attached as
Exhibit 1.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Press Release
. On January 27,
2012, the Registrant issued a press release announcing that it had commenced an "at the market" equity offering program.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01            Financial
Statements and Exhibits.
(d)           Exhibits
1.1
ATM Equity Offering Sales Agreement, dated January 27, 2012, among the Registrant, on the one hand, and each of  Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, on the other hand.
99.1
Press Release of the Registrant dated January 27, 2012
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ACADIA REALTY TRUST
(Registrant)
Date: January 27, 2012
By:
/s/ Jonathan Grisham
Name: Jonathan Grisham
Title: Sr. Vice President
and Chief Financial Officer
EXHIBIT INDEX
Exhibit Number
Description
(d)           Exhibits
1.1
ATM Equity Offering Sales Agreement, dated January 27, 2012, among the Registrant, on the one hand, and each of  Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, on the other hand.
99.1
Press Release of the Registrant dated January 27, 2012