Acadia Realty Trust Culture Company

Mr. Kenneth F. Bernstein has been the chief executive officer of Acadia Realty Trust since 2001 and the president and a trustee since its formation in 1998. Mr. Bernstein serves as a Director of Golub Capital BDC 3, Inc. Mr. Bernstein is responsible for strategic planning as well as overseeing the day-to-day activities of Acadia Realty Trust including operations, acquisitions and capital markets. He was an independent trustee of BRT Apartments Corp. from 2004 to 2016. From 1990 to 1998, he served as chief operating officer of RD Capital, Inc. until its merger into Acadia Realty Trust. He was an associate with the New York law firm of Battle Fowler LLP, from 1986 to 1990. Mr. Bernstein has been a member of the board of directors of GCIC since November 2014 and a member of the board of directors of GBDC 3 since August 2017. Mr. Bernstein was also the founding chairman of the Young President??? Organization Real Estate Network and is currently a member of its board of advisors. He has been a member of the National Association of Corporate Directors, International Council of Shopping Centers, the National Association of Real Estate Investment Trusts, for which he serves on the Board of Governors, the Urban Land Institute and the Real Estate Roundtable. He has been a member of the Board of Trustees of Golub Capital BDC, Inc. 2010. Mr. Bernstein received his BA from the University of Vermont and his JD from Boston University School of Law.

Mr. Christopher Conlon, also known as Chris, has been Chief Operating Officer and Executive Vice President of Acadia Realty Trust since January 1, 2012. Mr. Conlon served as Senior Vice President of Leasing and Development at Acadia Realty Trust since February 2008 until January 1, 2012. He served as a Senior Vice President of Acquisitions at Acadia Realty Trust since February 2008. Mr. Conlon has over 20 years of retail real estate and development experience. Prior to this, he served at Ripco Real Estate Corporation, where he served as a Partner, responsible for the tenanting and development/redevelopment of neighborhood centers, vertical urban retail centers and mixed-use properties with retail components. Mr. Conlon earned his J.D. from St. John's University School of Law and B.A. from the State University of New York at Stony Brook.

Mr. Joseph M. Napolitano has been Chief Administrative Officer and Senior Vice President of Acadia Realty Trust since April 2007 and since January 2004 respectively. Mr. Napolitano is accountable for managing Acadia's human resources, information technology, corporate performance management and business planning functions. He has over twenty years of real estate experience. He has been with Acadia Realty Trust since 1995. Mr. Napolitano served as Director of Operations of Acadia Realty Trust since January 2004 and was responsible for overseeing internal operations. He is a Member of the New York State Association of Realtors, International Council of Shopping Centers and the Commercial Investment Real Estate Institute. Mr. Napolitano is a Certified Property Manager with the Institute of Real Estate Management and a Real Property Administrator with the Building Owners and Managers Institute. He is a Human Capital Strategist (HCS) as certified by the Human Capital Institute. He holds Bachelor 's Degree in Business Administration from Adelphi University, Garden City, NY.

Mr. Joel Braun has been an Executive Vice President of Acadia Realty Trust since January 8, 2007 and has been its Chief Investment Officer since August 1998. Mr. Braun is responsible for all of Acadia Realty Trust's merger and acquisition activities. He served as a Senior Vice President of Acadia Realty Trust from August 1998 to January 8, 2007 and as its Director of Acquisitions. Previously, Mr. Braun served as Vice President of Acquisitions for RD Capital, Inc., a private investment company owning shopping centers and multi-family properties throughout the Northeast and Midwest. In 1991, he was instrumental in the initiation and formation of Kranzco Realty Trust, now trading as Kramont Realty Trust and in 1998, the RDC transaction. Mr. Braun holds a Bachelors in Business Administration from Boston University and a Masters Degree in Planning from The Johns Hopkins University.

Mr. John Gottfried, CPA has been Chief Financial Officer at Acadia Realty Trust since June 27, 2016 and has been its Senior Vice President since July 14, 2016. Mr. Gottfried is responsible for several of the firm's largest REITs and real estate companies. Mr. Gottfried has several years of public accounting experience focused in the real estate industry and leads PricewaterhouseCoopers LLP's (???PwC???) New York Metro real estate assurance practice. Mr. Gottfried is a Certified Public Accountant. He graduated with a B.S. in Accounting from the University of Dayton in 1994.

Ms. Amy L. Racanello has been Senior Vice President of Capital Markets and Investments at Acadia Realty Trust since January 19, 2016. Ms. Racanello served as Vice President of Capital Markets and Investments at the firm from 2012 to January 19, 2016. She joined the firm in 2008 as an analyst in the acquisitions department and, following her successful completion of responsible assignments in acquisitions and finance. Prior to this, Ms. Racanello completed GE Capital's Financial Management Program. She graduated summa cum laude with a Bachelor of Science in Management with a dual concentration in Finance and Corporate Reporting and Analysis from the Carroll School of Management at Boston College.

Mr. Jason Blacksberg, Esq., has been the Senior Vice President and General Counsel of Acadia Realty Trust since May 27, 2014. Mr. Blacksberg has been chief compliance officer and secretary at Acadia Realty Trus. since 2016. Mr. Blacksberg was employed at Davis Polk & Wardwell LLP.

Mr. Richard M. Hartmann, CPA, serves as the Chief Accounting Officer and Senior Vice President of Acadia Realty Trust. Mr. Hartmann is responsible for overseeing the daily operations of the accounting department. Prior to joining Acadia in 1997, Mr. Hartmann served at Kimco Realty Corporation as a Senior Accountant and Coopers and Lybrand as a Senior Associate. He is a Certified Public Accountant. Mr. Hartmann received a Master of Science in Real Estate Finance from New York University in 1999 and Bachelor of Business Administration from Hofstra University in 1988.

Mr. Michael Nelsen, also known as Mike, Sr., serves as Senior Vice President of Accounting and Financial Principal at Acadia Realty Trust. Mr. Nelsen served as Senior Officer and Senior Accounting & Financial Principal of Acadia Realty Trust since January 2012. Mr. Nelsen served as Chief Financial Officer and a Senior Vice President of Acadia Realty Trust from March, 2003 to January 2012. Mr. Nelsen served as Principal Accounting Officer of Acadia Realty Trust. Prior to joining Acadia Realty Trust, Mr. Nelsen served as the President of G. Soros Realty, Inc. and Director, Real Estate of Soros Private Funds Management LLC from 1994 to 2003. His responsibilities included asset/portfolio management of real estate operations, financial reporting, financings, asset acquisitions and dispositions. From 1969 to 1994, he was a partner in the public accounting firm of Berdon LLP (formerly David Berdon & Co.) Mr. Nelsen graduated from Bernard M. Baruch School of Business in 1969 and has been a Certified Public Accountant since 1971.

Mrs. Heather Moore, Esq., serves as Senior Vice President and Associate General Counsel at Acadia Realty Trust. Mrs. Moore has been a member of the legal department at Acadia since 2003. She is responsible for overseeing the leasing and landlord/tenant related matters and redevelopment projects, as well as the employment/human resource issues. Prior to joining Acadia, Mrs. Moore worked at the law firm of Shutts and Bowen, LLP in Fort Lauderdale, Florida and from 1997 to 2000 she was an associate with the law firm of Tripp Scott, P.A. She is a member of the Florida Bar. Mrs. Moore received her B.B.A. in Legal Studies with honors, as well as her J.D., from the University of Miami in 1994 and 1997, respectively.