Acadia Realty Trust is a real estate investment trust (REIT). The Trust is focused on the ownership, acquisition, redevelopment, and management of retail properties and urban/infill mixed-use properties with a retail component located primarily in barrier-to-entry, supply constrained, densely-populated metropolitan areas in the United States along the East Coast and in Chicago. Its primary objective is to acquire and manage commercial retail properties. The Trust also has private equity investments in other retail real estate related opportunities, in which it has a minority interest. As of December 31, 2013, the Trust controlled 97% of the Operating Partnership as the sole general partner. The requirements that acquisitions be accretive on a long-term basis based on the cost of capital, as well as increase the overall Core Portfolio quality and value, are key strategic considerations to the growth of its core Portfolio.