Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  ING GROEP NV
 2. Date of Event Requiring Statement (Month/Day/Year)
10/01/2007		 3. Issuer Name and Ticker or Trading Symbol
ACADIA REALTY TRUST [AKR]
(Last)
(First)
(Middle)
AMSTELVEENSEWEG 500, 1081 KL AMSTERDAM, PO BOX 810, 1000 AV		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

AMSTERDAM, P7 0000		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares of Beneficial Interest (1) 323,000
I
See Note 2 (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
ING GROEP NV
AMSTELVEENSEWEG 500, 1081 KL AMSTERDAM
PO BOX 810, 1000 AV
AMSTERDAM, P7 0000		     X    
ING Fund Management B.V.
PRINSES BEATRIXLAAN 15
2595 AS DEN HAAG, P7 		     X    
ING Capital Markets LLC
1325 AVENUE OF THE AMERICAS
NEW YORK, NY 10019		     X    

Signatures

/s/ Just Emke-Petrelluzzi Bojanic, Compliance Officer, ING Groep N.V. 07/28/2008
**Signature of Reporting Person Date
/s/ R.M. Fischmann, Head of Compliance, Regulator & Industry Body Liaison Netherlands, ING Groep N.V. 07/28/2008
**Signature of Reporting Person Date
/s/ Just Emke-Petrelluzzi Bojanic, Authorized Signatory, ING Fund Management B.V. 07/28/2008
**Signature of Reporting Person Date
/s/ R.M. Fischmann, Authorized Signatory, ING Fund Management B.V. 07/28/2008
**Signature of Reporting Person Date
/s/ Timothy M. Meehan, Assistant General Counsel, ING Capital Markets LLC 07/28/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) In addition to ING Groep N.V. ("ING"), this Form 3 is being filed jointly by ING Fund Management B.V. ("INGFM"), whose address is Prinses Beatrixlaan 15, 2595 AS Den Haag, The Netherlands, and ING Capital Markets LLC ("INGCM"), whose address is 1325 Avenue of the Americas, New York, NY 10019. INGFM and INGCM are both wholly-owned, indirect subsidiaries of ING.
(2) Represents shares of AKR common stock held by INGCM. INGFM is the investment manager of the portfolio of ING Bewaar Maatscappij, which is the depositary for certain mutual funds organized pursuant to the laws of The Netherlands. INGFM does not have a pecuniary interest in any shares beneficially owned by it.

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