Acadia Realty Trust Executive Vice President and Chief Investment Officer Joel Braun will retire from the shopping center real estate investment trust on Dec. 31.

The company expects to enter into a consulting arrangement with Braun on acquisition and development matters.

Acadia expects to recognize a charge of approximately $2.0 million, or 3 cents per share, to fourth-quarter funds from operation in connection to Braun's retirement. The charge is related to the accelerated vesting of some of Braun's equity-based compensation.