LIST OF AFFILIATES OF

ACADIA REALTY TRUST

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Last Revised 10/31/2011

Acadia Realty Trust

Acadia Realty Limited Partnership

125 Main Street Associates LLC

239 Greenwich Associates Limited Partnership

ABR Amboy Road LLC

Acadia 161ST Street LLC

Acadia 216TH Street LLC

Acadia 239 Greenwich Avenue, LLC

Acadia 2914 Third Avenue LLC

Acadia 3319 Atlantic Avenue LLC

Acadia 4401 White Plains Road LLC

Acadia 5-7 East 17^th Street LLC

Acadia 654 Broadway LLC

Acadia Absecon LLC

Acadia Albee LLC

Acadia Albertsons Investors LLC

Acadia Atlantic Avenue LLC

Acadia Bartow Avenue, LLC

Acadia Berlin LLC

Acadia Boonton LLC

Acadia Brandywine Condominium, LLC

Acadia Brandywine Holdings, LLC

Acadia Brandywine Subsidiary, LLC

Acadia Brandywine Town Center, LLC

Acadia Brentwood LLC

Acadia Canarsie LLC

Acadia Chestnut LLC

Acadia Chicago LLC

Acadia Clark-Diversey LLC

Acadia Cortlandt LLC

Acadia Crescent Plaza LLC

Acadia Crossroads, LLC

Acadia Cub Foods Investors LLC

Acadia D.R. Management LLC

Acadia East Fordham Acquisitions LLC

Acadia Elmwood Park LLC

Acadia Gold Coast LLC

Acadia Granville, LLC

Acadia Heathcote, LLC

Acadia Hendon Hitchcock Plaza, LLC

Acadia Heritage Shops LLC

Acadia Hobson LLC

Acadia K-H, LLC

Acadia L.U.F. LLC

Acadia Ledgewood LLC

Acadia Liberty LLC

Acadia Lincoln Park B Member LLC

Acadia Lincoln Park LLC

Acadia Lincoln Road LLC

Acadia Mad River Property LLC

Acadia Marcus Avenue LLC

Acadia Mark Plaza LLC

Acadia Market Square, LLC

Acadia Marsh Investors, LLC

Acadia MCB Holding Company LLC

Acadia Mercer Street LLC

Acadia Merrillville Realty, Inc.

Acadia Merrillville Realty, L.P.

Acadia Mervyn I, LLC

Acadia Mervyn II, LLC

Acadia Mervyn Investors I, LLC

Acadia Mervyn Investors II, LLC

Acadia Mervyn Promote Member I, LLC

Acadia Mervyn Promote Member II, LLC

Acadia Naamans Road LLC

Acadia New Loudon, LLC

Acadia Pacesetter LLC

Acadia Pelham Manor LLC

Acadia Property Holdings, LLC

Acadia Realty Acquisition I, LLC

Acadia Realty Acquisition II, LLC

Acadia Realty Acquisition III LLC

Acadia Republic Farmingdale LLC

Acadia Rex LLC

Acadia Second City 1521 West Belmont LLC

Acadia Second City 2206-08 North Halsted LLC

Acadia Second City 2633 North Halsted LLC

Acadia Second City 843-45 West Armitage LLC

Acadia Second city Biggs Mansion LLC

Acadia Second City LLC

Acadia Self Storage LLC

Acadia Self Storage Management Company LLC

Acadia Self Storage Management Investment Company LLC

Acadia Sheepshead Bay LLC

Acadia Sherman Avenue LLC

Acadia Shopko Investors LLC

Acadia SPE Boonton LLC

Acadia Storage Company LLC

Acadia Storage Post LLC

Acadia Storage Post Metropolitan Avenue LLC

Acadia Storage Post Portfolio Company LLC

Acadia Strategic Opportunity Fund II, LLC

Acadia Strategic Opportunity Fund III LLC

Acadia Strategic Opportunity Fund III Special Member LLC

Acadia Strategic Opportunity Fund, LP

Acadia Suffern LLC

Acadia Tarrytown, LLC

Acadia Town Line, LLC

Acadia Urban Development LLC

Acadia Urban Management Services LLC

Acadia Walnut Hill LLC

Acadia West 54^th Street LLC

Acadia West Diversey LLC

Acadia West Shore Expressway LLC

Acadia Westport LLC

Acadia-Washington Square Albee Commercial LLC

Acadia-Washington Square Albee LLC

Acadia-Washington Square Albee Residential LLC

Acadia-Washington Square Kingsbridge LLC

ACRS II LLC

ACRS, Inc.

Albee Development LLC

Albee Retail Development LLC

AmCap Acadia 9^th Addition, LLC

AmCap Acadia Agent, LLC

AmCap Acadia Batesville, LLC

AmCap Acadia Benton, LLC

AmCap Acadia Carthage GP, Inc.

AmCap Acadia Carthage LP

AmCap Acadia Cary, LLC

AmCap Acadia Cincinnati, LLC

AmCap Acadia Conroe GP, Inc.

AmCap Acadia Conroe LP

AmCap Acadia Indianapolis, LLC

AmCap Acadia Irving GP, Inc.

AmCap Acadia Irving LP

AmCap Acadia K-H Holding, LLC

AmCap Acadia K-H, LLC

AmCap Acadia Little Rock, LLC

AmCap Acadia Longview, LLC

AmCap Acadia Mustang, LLC

AmCap Acadia Roswell, LLC

AmCap Acadia Ruidoso, LLC

AmCap Acadia San Ramon, LLC

AmCap Acadia Springerville, LLC

AmCap Acadia Tucson, LLC

AmCap Acadia Tulsa, LLC

A-MCB White Oak LLC

Aspen Cove Apartments, LLC

Blackman Fifty L.P.

Blackman Fifty Realty Corp.

Brandywine Town Center Maintenance Company LLC

BTS Boonton, L.L.C.

Canarsie Plaza LLC

Crossroads II

Crossroads II, LLC

Crossroads Joint Venture

Crossroads Joint Venture, LLC

Fordham Place Office LLC

GDC Beechwood, LLC

GDC SMG, LLC

Heathcote Associates, L.P.

Lincoln Road III LLC

Mark Plaza Fifty L.P.

Mark Twelve Associates, L.P.

Pacesetter/Ramapo Associates

RD Abington Associates Limited Partnership

RD Absecon Associates, L.P.

RD Bloomfield Associates Limited Partnership

RD Branch Associates L.P.

RD Elmwood Associates, L.P.

RD Hobson Associates, L.P.

RD Methuen Associates Limited Partnership

RD Smithtown, LLC

RD Woonsocket Associates Limited Partnership

Self Storage Management LLC

SMG Celebration, LLC

Storage Post Holdings LLC

White City East Partners LLC

White City Partners Holding Company LLC

White City Partners LLC