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                       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): April 15, 1998


                               Mark Centers Trust
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


        Maryland                         1-12002               23-2715194
----------------------------           -----------           ----------------
(State or other jurisdiction           (Commission           (I.R.S. Employer
     of incorporation)                 File Number)          Identification No.)
                                                         
                                                    
      600 Third Avenue
       Kingston, PA                                                 18704
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(Address of principal executive offices)                          (Zip Code)


Registrant's telephone number, including area code: (717) 288-4581
                                                     -------------



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Item 5.   Other Events.

                  On April 15, 1998, Mark Centers Trust, a Maryland real estate
investment trust (the "Registrant"), and Mark Centers Limited Partnership, a
Delaware limited partnership and majority-owned subsidiary of the Registrant of
which the Registrant also serves as the general partner (the "Operating
Partnership"), entered into a Contribution and Share Purchase Agreement (the
"Contribution Agreement") pursuant to which the Registrant has agreed, subject
to the satisfaction or waiver of the conditions set forth in the Contribution
Agreement, to acquire fee title to or substantially all of the ownership
interests in 12 retail shopping centers, five multi-family apartment complexes
and a related management company owned by real estate investment partnerships
and related entities in which RD Capital, Inc., a New York corporation ("RD
Capital"), or its affiliates serves as the general partner or in another similar
management capacity. In addition, one or more newly formed investment limited
partnerships of which affiliates of RD Capital are the general partner will make
a $100.0 million cash equity investment in the Registrant.

                  RD Capital is a fully integrated real estate operating company
focused primarily on the acquisition, redevelopment, ownership and management of
neighborhood and community shopping centers in the East and Midwest regions of
the United States. The retail shopping centers to be contributed to the
Registrant comprise approximately 2.2 million square feet of gross leasable area
("GLA"), and the apartment complexes contain 2,327 units. If the transaction is
consummated, the Registrant's portfolio will increase to 51 retail properties
and five multi-family apartment complexes in 16 states in the East, Midwest and
Southeast regions of the United States.

                  In exchange for the shopping centers, apartment complexes and
management company, the Operating Partnership will issue approximately 11.3
million Operating Partnership limited partnership interests ("Units"), each of
which is exchangeable, on a one-for-one basis, for common shares of beneficial
interest of the Registrant ("Shares"). In consideration for the $100.0 million
cash investment, the Registrant will issue approximately 13.3 million Shares.
The Units and the Shares to be issued to RD Capital and its affiliates have been
valued on the basis of $7.50 per Share.

                   The Contribution Agreement also provides that Ross Dworman
and Kenneth Bernstein of RD Capital will become the Chief Executive Officer and
President, respectively, of the Registrant. Marvin Slomowitz, currently Chairman
of the Board of Trustees and Chief Executive Officer of the Registrant, will
resign as Chairman and Chief Executive Officer but will remain on the Board of
Trustees. Messrs. Dworman, Bernstein and two designees of RD Capital, and Mr.
Slomowitz and two designees of the current Board

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of Trustees will serve on the Board of Trustees assuming the transaction is
consummated. The Registrant also will change its name to Acadia Realty Trust,
effective upon closing of the transaction.

                  Consummation of the aforementioned transactions is contingent
upon the satisfaction of a number of conditions, including, but not limited to,
approval by the Registrant's shareholders at a meeting to be called for that
purpose, and other customary conditions.

Item 7.      Financial Statements, Pro Forma Financial Information and Exhibits.

             (c)    Exhibits
                    
             10.1   Contribution and Share Purchase Agreement dated as of April
                    15, 1998 among Mark Centers Trust, Mark Centers Limited
                    Partnership, the Contributing Owners and Contributing
                    Entities named therein, RD Properties, L.P. VI, RD
                    Properties, L.P. VIA and RD Properties, L.P. VIB.
                    
             99.1   The Registrant's Press Release dated April 16, 1998.
                  

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                                    SIGNATURE

                  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 thereunto duly authorized.


Dated:  April 20, 1998                      MARK CENTERS TRUST


                                            By: /s/ Joshua Kane
                                                --------------------------------
                                                Name:  Joshua Kane
                                                Title: Senior Vice President and
                                                       Chief Financial Officer



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                                  EXHIBIT INDEX

Exhibit
Number      Description of Document                             Page
------      -----------------------                             ----

10.1        Contribution and Share Purchase Agreement
            dated as of April 15, 1998 among Mark
            Centers Trust, Mark Centers Limited
            Partnership, the Contributing Owners and
            Contributing Entities named therein , RD
            Properties, L.P. VI, RD Properties, L.P. VIA
            and RD Properties, L.P.
            VIB.

99.1        The Registrant's Press Release dated April 16,
            1998.


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