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Federal Realty Investment Trust

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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]

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 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million.[3] In 2021, the company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million.[4]

References

  1. 123456"Federal Realty Investment Trust 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 12"Samuel J. Gorlitz, 89; Started Investment Trust". The Washington Post. January 16, 2007.
  3. ↑"Federal Realty Acquires High-Profile Mixed-Use Center In South Miami, Florida" (Press release). PR Newswire. October 1, 2015.
  4. ↑Hirsh, Lou (August 17, 2021). "REIT Plans Redevelopment After Buying Retail Mall Near San Diego". CoStar Group.
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