Federal Realty Investment Trust

Short description: Real Estate Investment Trust in the United States

Federal Realty Investment Trust

Type| Public company

Traded as

| NYSE: FRT
S&P 500 Index component
Industry| Real estate investment trust
Founded| 1962; 64 years ago (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)

Net income

|  $269 million (2021)
Total assets|  $7.622 billion (2021)
Total equity|  $2.663 billion (2021)

Number of employees

| 315 (2021)
Website| www.federalrealty.com
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]

## Contents

* 1 Investments
* 2 History
* 3 References
* 4 External links

## 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. ↑ 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. ↑ 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.
3. ↑ "Federal Realty (FRT) Acquires Del Mar Village in Boca Raton, Florida". Street Insider. June 2, 2008. https://www.streetinsider.com/Corporate+News/Federal+Realty+(FRT)+Acquires+Del+Mar+Village+in+Boca+Raton,+Florida/3703450.html.
4. ↑ "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.
5. ↑ 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.
6. ↑ 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/.
7. ↑ "Federal Realty Acquires Two Key Retail Centers In Affluent Monmouth County, New Jersey" (Press release). PR Newswire. January 6, 2014.
8. ↑ "Federal Realty Acquires High-Profile Mixed-Use Center In South Miami, Florida" (Press release). PR Newswire. October 1, 2015.
9. ↑ "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.
10. ↑ "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.
11. ↑ 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/.
12. ↑ "Federal Realty Investment Trust Acquires Riverpoint Center in Chicago's Lincoln Park Neighborhood" (Press release). PR Newswire. April 5, 2017.
13. ↑ "Federal Realty Investment Trust Announces Acquisition of Seven Properties in Southern California" (Press release). PR Newswire. August 3, 2017.
14. ↑ 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:

* Google Finance
* Yahoo! Finance
* Bloomberg
* Reuters
* SEC filings

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