Table of Contents Categories
Federal Realty Investment Trust
Topic: Company
From HandWiki - Reading time: 4 min
 | |
| Type | Public company |
|---|---|
| NYSE: FRT S&P 500 Index component | |
| Industry | Real estate investment trust |
| Founded | 1962 |
| Founder | Samuel J. Gorlitz |
| Headquarters | Rockville, Maryland |
Key people | David Faeder, Chairman Donald C. Wood, CEO & President Daniel Guglielmone, CFO |
| Products | Shopping centers |
| Revenue |  $951 million (2021) |
| $269 million (2021) | |
| Total assets | $7.622 billion (2021) |
| Total equity | $2.663 billion (2021) |
Number of employees | 315 (2021) |
| Website | www |
| Footnotes / references [1] | |
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California , and South Florida.[1]
Investments
As of December 31, 2021, the company owned interests in 104 shopping centers containing 25.1 million square feet.[1]
Notable properties owned by the company include:[1]
| Property Name | Location |
|---|---|
| Santana Row | San Jose, California |
| Westgate Center | San Jose, California |
| The Shops at Sunset Place | South Miami, Florida |
| The Grove at Shrewsbury | Shrewsbury, New Jersey |
History
In 1962, the company was founded by Samuel J. Gorlitz in Washington, D.C.[2][1]
In 1999, the company was reorganized as a real estate investment trust in Maryland.[1]
In 2007, founder Samuel J. Gorlitz died.[2]
In 2008, the company acquired Del Mar Village in Boca Raton, Florida for $41.7 million.[3]
In 2012, the company acquired a controlling interest in Montrose Crossing, a property in Rockville, Maryland for $127 million[4] and a controlling interest in a property in El Segundo, California for $183.5 million.[5]
In 2013, the company sold a movie theater in Forest Hills, New York for $20.5 million.[6]
In 2014, the company acquired 2 shopping centers in Monmouth County, New Jersey for $161 million.[7]
In 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million.[8]
In 2016, the company was added to the S&P 500 Index.[9]
In 2017, the company acquired a property in Pasadena, California for $29.5 million.[10][11] The company also acquired Riverpoint Center in Chicago, Illinois for $107 million[12] and 7 properties in Los Angeles County for $345 million.[13][14]
In 2021, the company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million.[1]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "Federal Realty Investment Trust 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://sec.report/Document/0000034903-22-000023/.
- ↑ 2.0 2.1 "Samuel J. Gorlitz, 89; Started Investment Trust". The Washington Post. January 16, 2007. https://www.washingtonpost.com/wp-dyn/content/article/2007/01/15/AR2007011501268.html.
- ↑ "Federal Realty (FRT) Acquires Del Mar Village in Boca Raton, Florida". Street Insider. June 2, 2008. https://www.streetinsider.com/Corporate+News/Federal+Realty+%28FRT%29+Acquires+Del+Mar+Village+in+Boca+Raton%2C+Florida/3703450.html.
- ↑ "Federal Realty buys stake in Rockville shopping center". American City Business Journals. January 10, 2012. https://www.bizjournals.com/washington/breaking_ground/2012/01/federal-realty-buys-stake-in-rockville.html.
- ↑ Zucker, Shaina (January 4, 2012). "Federal Realty buys in El Segundo". American City Business Journals. https://www.bizjournals.com/washington/news/2012/01/04/federal-realty-buys-in-el-segundo.html.
- ↑ Clarke, Katherine (September 16, 2013). "Lloyd Goldman-led partnership to buy historic Midway Theater". The Real Deal. https://therealdeal.com/2013/09/16/lloyd-goldman-led-partnership-to-buy-historic-midway-theatre/.
- ↑ "Federal Realty Acquires Two Key Retail Centers In Affluent Monmouth County, New Jersey" (Press release). PR Newswire. January 6, 2014.
- ↑ "Federal Realty Acquires High-Profile Mixed-Use Center In South Miami, Florida" (Press release). PR Newswire. October 1, 2015.
- ↑ "Federal Realty Investment Trust Set to Join the S&P 500; Curtiss-Wright, Pool to Join S&P MidCap 400; Cray, Asbury Automotive to Join S&P SmallCap 600" (Press release). PR Newswire. January 22, 2016.
- ↑ "Federal Realty Investment Trust Acquires Hastings Ranch Plaza, Future Value Creation Opportunity on Prominent Freeway-Adjacent Location with Access to Mass Transit" (Press release). PR Newswire. February 9, 2017.
- ↑ Kouch, Eda; Chen, Cathaleen (February 10, 2017). "Here’s what LA’s $10M-$30M investment sales market looked like last week". The Real Deal. https://therealdeal.com/la/2017/02/10/heres-what-las-10m-30m-investment-sales-market-looked-like-last-week/.
- ↑ "Federal Realty Investment Trust Acquires Riverpoint Center in Chicago's Lincoln Park Neighborhood" (Press release). PR Newswire. April 5, 2017.
- ↑ "Federal Realty Investment Trust Announces Acquisition of Seven Properties in Southern California" (Press release). PR Newswire. August 3, 2017.
- ↑ Jordan, Karen (August 8, 2017). "Federal Realty Buys Stake In 7 LA Retail Properties For $345M". Bisnow Media. https://www.bisnow.com/los-angeles/news/retail/federal-realty-buys-seven-la-properties-for-345m-77504.
External links
- Business data for Federal Realty Investment Trust:
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