ACADIA REALTY TRUST

Acadia Realty Trust is a fully-integrated, Maryland-formed equity REIT that owns, acquires, develops, and manages high-quality retail properties. These properties are primarily located in high-barrier-to-entry, supply-constrained, densely populated metropolitan areas in the United States. Acadia operates a core real estate portfolio, known as the "REIT Portfolio," which consists of street and open-air retail properties in dynamic corridors. Additionally, the company has an "Investment Management" platform that focuses on opportunistic and value-add investments through institutional co-investment vehicles. All assets and operations are managed through Acadia Realty Limited Partnership and its affiliated entities. As of December 31, 2025, the Trust controlled approximately 96% of the Operating Partnership as the sole general partner. As of December 31, 2025, Acadia owned or held an ownership interest in 228 properties through its REIT Portfolio and Investment Management platform. The majority of the company's operating income comes from rental revenues from operating properties, including expense recoveries from tenants, after accounting for operating and overhead expenses. The primary business objective is to acquire and manage commercial retail properties to generate cash for shareholder distributions and create potential for capital appreciation.