Federal Realty Investment Trust

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Federal Realty Investment Trust
TypePublic company
NYSE: FRT
S&P 500 Index component
IndustryReal estate investment trust
Founded1962; 59 years ago (1962)
FounderSamuel J. Gorlitz
HeadquartersRockville, Maryland
Key people
Joseph S. Vassalluzzo, Chairman
Donald C. Wood, CEO & President
Daniel Guglielmone, CFO
ProductsShopping centers
RevenueIncrease $935 million (2019)
Increase $345 million (2019)
Total assetsIncrease $6.794 billion (2019)
Total equityIncrease $2.636 billion (2019)
Number of employees
313 (2019)
Websitewww.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]

Investments[]

As of December 31, 2019, the company owned interests in 104 shopping centers containing 23.7 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]

References[]

  1. ^ Jump up to: a b c d e f "Federal Realty Investment Trust 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ Jump up to: a b "Samuel J. Gorlitz, 89; Started Investment Trust". The Washington Post. January 16, 2007.
  3. ^ "Federal Realty (FRT) Acquires Del Mar Village in Boca Raton, Florida". Street Insider. June 2, 2008.
  4. ^ "Federal Realty buys stake in Rockville shopping center". American City Business Journals. January 10, 2012.
  5. ^ Zucker, Shaina (January 4, 2012). "Federal Realty buys in El Segundo". American City Business Journals.
  6. ^ Clarke, Katherine (September 16, 2013). "Lloyd Goldman-led partnership to buy historic Midway Theater". The Real Deal.
  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.
  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.

External links[]

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