<SUBMISSION>
<ACCESSION-NUMBER>0000950116-01-500749
<TYPE>8-K
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<PERIOD>20010824
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<ITEMS>7
<FILING-DATE>20010824
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACADIA REALTY TRUST
<CIK>0000899629
<ASSIGNED-SIC>6798
<IRS-NUMBER>232715194
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
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<FILE-NUMBER>001-12002
<FILM-NUMBER>1722688
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>20 SOUNDVIEW MARKETPLACE
<STREET2>PO BOX 1679
<CITY>PORT WASHINGTON
<STATE>NY
<ZIP>11050
<PHONE>5167678830
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>600 THIRD AVE
<STREET2>PO BOX 1679
<CITY>KINGSTON
<STATE>PA
<ZIP>18704
</MAIL-ADDRESS>
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<FORMER-CONFORMED-NAME>MARK CENTERS TRUST
<DATE-CHANGED>19930329
</FORMER-COMPANY>
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<FILENAME>eightk.txt
<DESCRIPTION>8-K
<TEXT>
<PAGE>

                       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): August 24, 2001


                               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.)


                            20 Soundview Marketplace
                            Port Washington, New York             11050
                   (Address of principal executive offices)     (Zip Code)


                                 (516) 767-8830
              (Registrant's telephone number, including area code)



          (Former name or former address, if changed since last report)
<PAGE>

ITEM 5. Other Events

On August 24, 2001, the Registrant issued a press release discussing the impact
of the recently announced Ames Department Stores, Inc. Chapter 11 bankruptcy
filing.

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

(c) Exhibits.

99.1 Press release, dated August 24, 2001


                                   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: August 24, 2001          By: /s/ Kenneth F. Bernstein

                                   Name: Kenneth F. Bernstein
                                   Title: Chief Executive Officer and President










                                        2

</TEXT>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex99-1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<PAGE>


-------------------------------------------------------------------------------

AT THE COMPANY:                               AT THE FINANCIAL RELATIONS BOARD
Jon Grisham, Investor Relations               Kerry Thalheim, General Inquiries
516-767-7550                                  212-661-8030


           ACADIA REALTY TRUST COMMENTS ON EFFECT FROM AMES BANKRUPTCY
                    FILING AND THEIR ANNOUNCED STORE CLOSINGS

NEW YORK, (August 24, 2001) - Acadia Realty Trust (NYSE:AKR), a fully integrated
shopping center and multi-family REIT, today indicated that at this time the
Ames Department Stores, Inc. filing for Chapter 11 bankruptcy protection and
their earlier announcement to close 47 of their 452 stores is expected to
immediately impact only two Ames stores in the Acadia portfolio.

On Monday, August 20, 2001, Ames Department Stores, Inc. filed for Chapter 11
bankruptcy protection. During the preceding week, on August 16, 2001, Ames
announced its decision to close 47 of its 452 stores. Only one of these stores
scheduled for closing is within Acadia's portfolio, located in 94,000 square
feet at the Union Plaza in New Castle Pennsylvania.

In the Company's Valmont Shopping Center, located in Hazleton, Pennsylvania, the
Ames store has ceased operating but continues to pay rent. Although not included
in the Ames list of stores closures, it is probable that this lease,
representing approximately 97,000 square feet, will be rejected as part of the
bankruptcy proceedings. Acadia has not received any notice from Ames as to the
remaining 9 Ames locations in Acadia's portfolio, comprising approximately
625,000 square feet, which continue to operate at the Company's centers.

Additional information related to Acadia's shopping centers, anchors and related
rents are included in the Company's Quarterly Financial Supplemental for the
quarter ended June 30, 2001 as previously filed in an 8K filing and which is
also published on the Company's website at www.acadiarealty.com.

Acadia Realty Trust, headquartered on Long Island, NY, is a self-administered
equity real estate investment trust structured as an UPREIT, which specializes
in the operation, management, leasing, renovation and acquisition of shopping
centers. The Company currently owns and operates 56 properties totaling
approximately 10 million square feet, primarily in the eastern half of the
United States. Acadia's principal executive offices are located in Port
Washington, New York, with a corporate office located in Manhattan.

Certain matters in this press release may constitute forward-looking statements
within the meaning of the Private Litigation Reform Act of 1995 and as such may
involve known and unknown risk, uncertainties and other factors which may cause
the actual results, performances or achievements of Acadia to be materially
different from any future results, performances or achievements expressed or
implied by such forward-looking statements. Such forward-looking statements
speak only as of the date of this document. Acadia expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in Acadia's
expectations with regard thereto or change in events, conditions or
circumstances on which any such statement is based.

     For more information on Acadia Realty Trust visit Acadia Realty Trust's
                        Web site at www.acadiarealty.com

</TEXT>
</DOCUMENT>
</SUBMISSION>
