Federal_Realty
Federal Realty Investment Trust
Real Estate Investment Trust in the United States
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]
| Company type | Public company |
|---|---|
| NYSE: FRT S&P 500 Index component | |
| Industry | Real estate investment trust |
| Founded | 1962; 62 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) |
| $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] | |
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 |
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]
- "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.
- 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.
- 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.
- Business data for Federal Realty Investment Trust: