Federal Realty Investment Trust

Federal Realty Investment Trust
Public company
Traded as NYSE: FRT
S&P 500 Index component
Industry Real estate investment trust
Founded 1962 (1962)
Founder Samuel J. Gorlitz
Headquarters Rockville, Maryland
Key people
 Joseph S. Vassalluzzo, Chairman
Donald C. Wood, CEO & President
Daniel Guglielmone, CFO
Products Shopping centers
Revenue Increase $0.841 billion (2017)
Increase $0.297 billion (2017)
Total assets Increase $6.275 billion (2017)
Total equity Increase $2.391 billion (2017)
Number of employees
 326 (2017)
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]

Investments

As of December 31, 2017, the company owned interests in 104 shopping centers containing 24.2 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 2 buildings in Boca Raton, Florida for $6.71 million.[3]

In 2012, the company acquired a controlling interest in 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. 1 2 3 4 5 6 "Federal Realty Investment Trust 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 "Samuel J. Gorlitz, 89; Started Investment Trust". The Washington Post. January 16, 2007.
  3. ↑ Wilson, Shana (August 22, 2008). "Federal Realty Buys Boca Raton Portfolio". CoStar Group.
  4. ↑ McKeithan, Omar S. (January 11, 2012). "Federal Realty Buys Controlling Stake in MD Retail Center for $127M". CoStar Group.
  5. ↑ Zucker, Shaina (January 4, 2012). "Federal Realty buys in El Segundo". American City Business Journals.
  6. ↑ Craig, Samantha (October 14, 2013). "Federal Realty Investment Trust Sells Midway Theater". CoStar Group.
  7. ↑ Sumner, Justin (January 7, 2014). "Federal Realty Acquires Two Monmouth County Shopping Centers for $161M". CoStar Group.
  8. ↑ Sumner, Justin (October 9, 2015). "Federal Realty Acquires 85% Interest in The Shops at Sunset Place". CoStar Group.
  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). PRNewswire. 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). PRNewswire. February 9, 2017.
  11. ↑ Reyes, Arlene (March 8, 2017). "Riviera Center Mgmt Sells Hastings Ranch Plaza Ground Lease". CoStar Group.
  12. ↑ "Federal Realty Investment Trust Acquires Riverpoint Center in Chicago's Lincoln Park Neighborhood" (Press release). PRNewswire. April 5, 2017.
  13. ↑ "Federal Realty Investment Trust Announces Acquisition of Seven Properties in Southern California" (Press release). PRNewswire. August 3, 2017.
  14. ↑ Drummer, Randyl (August 7, 2017). "Federal Realty Acquires Seven Retail Properties in Los Angeles County for $345 Million". CoStar Group.
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