UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)
ACADIA REALTY TRUST
(Name of Issuer)
Common Shares of Beneficial Interest, $.001 par value
(Title of Class of Securities)
004239 10 9
(CUSIP Number of Class of Securities)
Kenneth Miller, Esq.
Yale University
55 Whitney Avenue
New Haven, CT 06510-1300
(203) 432-0120
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
Copy to:
Michael W. Blair, Esq.
Debevoise & Plimpton
919 Third Avenue
New York, NY 10022
(212) 909-6000
August 16, 2005
(Date of Event which Requires Filing Statement on Schedule 13D)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [X].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following pages)
Schedule 13D
CUSIP No. 004239 10 9
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(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Yale University
I.R.S. Identification No. 06-0646973-N
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(2) Check the Appropriate Box if a Member of a Group (a) []
(b) []
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(3) SEC Use Only
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(4) Source of Funds
WC
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(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
Connecticut
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Number of Shares (7) Sole Voting Power
Beneficially 2,824,738
Owned by ------------------------------------------------------------
Each (8) Shared Voting Power
Reporting 166,361
Person ------------------------------------------------------------
With (9) Sole Dispositive Power
2,824,738
------------------------------------------------------------
(10) Shared Dispositive Power
166,361
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,991,099
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
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(13) Percent of Class Represented by Amount in Row (11)
9.5%
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(14) Type of Reporting Person
EP
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Page 2 of 6
Amendment No. 7 to Schedule 13D
The statement on Schedule 13D (the "Statement") filed on September 25,
2002, as amended by Amendment Nos. 1, 2, 3, 4, 5 and 6 thereto filed on March
23, 2004, March 26, 2004, March 31, 2004, November 9, 2004, November 10, 2004
and November 29, 2004, respectively, relating to the common shares of beneficial
interest, par value $.001 per share (the "Common Shares") of Acadia Realty
Trust, a Maryland real estate investment trust (the "Trust"), is hereby amended
and supplemented as set forth below in this Amendment No. 7 to the Statement by
Yale University, a Connecticut corporation (the "Reporting Person").
Capitalized terms used below and not otherwise defined herein shall have the
meaning set forth in the Statement, as so amended.
Item 4. Purpose of Transaction
The disclosure in Item 4 is hereby amended and supplemented by adding the
following:
"On May 18, 2005, the Reporting Person received an award of 633 Common
Shares from the Trust in connection with payment of the annual trustee fee."
Between May 5, 2005 and August 16, 2005, the Reporting Person sold 644,600
Common Shares in brokers transactions at prices ranging from $16.00 - $19.23.
Item 5. Interest in Securities of the Issuer
The disclosure in Item 5(a) is hereby amended and restated to read in its
entirety as follows:
(a) The Reporting Person beneficially owns, within the meaning of
Rule 13d-3 under the Exchange Act, 2,991,099 Common Shares. The Common Shares
owned by the Reporting Person constitute approximately 9.5% of the Common Shares
issued and outstanding (computed on the basis of 31,444,577 Common Shares issued
and outstanding, as reported in the Trust's Quarterly Report on Form 10-Q for
the quarter ended June 30, 2005 filed with the Securities and Exchange
Commission on August 9, 2005).
The disclosure in Item 5(b) is hereby amended and restated to read in its
entirety as follows:
(b) The Reporting Person has sole power to dispose of 2,824,738
Common Shares and shared power to direct the disposition of 166,361 Common
Shares held of record by YURPSE. YURPSE has shared power to direct the
disposition of 166,361 Common Shares.
Page 3 of 6
The Reporting Person has sole power to vote 2,824,738 Common Shares and
shared power to direct the vote of 166,361 Common Shares held of record by
YURPSE. YURPSE has shared power to direct the vote of 166,361 Common Shares.
The Reporting Person disclaims beneficial ownership of the Common Shares
held by YURPSE.
The disclosure in Item 5(c) is supplemented as follows:
(c) The Reporting Person sold Common Shares in brokers transactions as
follows:
Date Number of Shares Price Per Share
May 4, 2005 20,400 $16.052
May 5, 2005 16,500 $16.0004
May 6, 2005 400 $16.00
May 9, 2005 8,500 $16.00
May 10, 2005 19,500 $16.0008
May 11, 2005 18,900 $16.0134
May 12, 2005 7,300 $16.0048
May 18, 2005 147,600 $16.0164
May 19, 2005 63,000 $16.1093
May 20, 2005 42,900 $16.1428
May 25, 2005 105,000 $17.0189
May 26, 2005 27,100 $17.0131
August 2, 2005 55,700 $19.2281
August 3, 2005 11,900 $19.2043
August 4, 2005 300 $19.16
August 9, 2005 3,500 $17.7706
August 10, 2005 49,000 $17.5612
Page 4 of 6
Date Number of Shares Price Per Share
August 11, 2005 17,000 $17.5512
August 12, 2005 2,100 $17.721
August 16, 2005 28,000 $17.882
Page 5 of 6
SIGNATURE
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: August 26, 2005
YALE UNIVERSITY
By: /s/ David F. Swensen
------------------------------------
Name: David F. Swensen
Title: Chief Investment Officer
Page 6 of 6