Item 2.01 Completion of Acquisition or Disposition of Assets

On August 28, 2009, American Community Properties Trust (the "Company") completed the sale of its wholly owned subsidiary, Interstate General Properties, LP ("IGP") to Partners Business Equities, LLC ("PBE") and its associates for $14.3 million. Prior to the sale, IGP was restructured to include only the Company's general and limited partnership interests in nine partnerships which own twelve properties with 2,653 subsidized apartments in Puerto Rico, as well as the Section 8 affordable housing management contracts. ACPT will maintain its presence in Puerto Rico through its residential and commercial land holdings. PBE was formed by members of the IGP management team.

Item 9.01 Financial Statements and Exhibits.

99.1 Press Release dated September 2, 2009

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