Federal Realty Investment Trust
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| Company 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
[edit]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][2]
History
[edit]In 1962, the company was founded by Samuel J. Gorlitz in Washington, D.C.[3][1]
In 1999, the company was reorganized as a real estate investment trust in Maryland.[1]
In 2007, founder Samuel J. Gorlitz died.[3]
In 2008, the company acquired Del Mar Village in Boca Raton, Florida for $41.7 million.[4]
In 2012, the company acquired a controlling interest in Montrose Crossing, a property in Rockville, Maryland for $127 million[5] and a controlling interest in a property in El Segundo, California for $183.5 million.[6]
In 2013, the company sold a movie theater in Forest Hills, New York for $20.5 million.[7]
In 2014, the company acquired 2 shopping centers in Monmouth County, New Jersey for $161 million.[8]
In 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million.[9]
In 2016, the company was added to the S&P 500 Index.[10]
In 2017, the company acquired a property in Pasadena, California for $29.5 million.[11][12] The company also acquired Riverpoint Center in Chicago, Illinois for $107 million[13] and 7 properties in Los Angeles County for $345 million.[14][15]
In 2021, the company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million.[1]
References
[edit]- ^ a b c d e f g "Federal Realty Investment Trust 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Properties". Federal Realty Investment Trust.
- ^ a b "Samuel J. Gorlitz, 89; Started Investment Trust". The Washington Post. January 16, 2007.
- ^ "Federal Realty (FRT) Acquires Del Mar Village in Boca Raton, Florida". Street Insider. June 2, 2008.
- ^ "Federal Realty buys stake in Rockville shopping center". American City Business Journals. January 10, 2012.
- ^ Zucker, Shaina (January 4, 2012). "Federal Realty buys in El Segundo". American City Business Journals.
- ^ Clarke, Katherine (September 16, 2013). "Lloyd Goldman-led partnership to buy historic Midway Theater". The Real Deal.
- ^ "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.
- ^ "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.
External links
[edit]- Business data for Federal Realty Investment Trust:
| International | |
|---|---|
| Artists | |
- American companies established in 1962
- Real estate companies established in 1962
- Financial services companies established in 1962
- 1962 establishments in Washington, D.C.
- Companies based in Rockville, Maryland
- Companies listed on the New York Stock Exchange
- Companies in the S&P 500 Dividend Aristocrats
- Real estate investment trusts of the United States